In gambling, "vig" (short for vigorish) is the fee or commission that bookmakers charge for accepting bets. It's essentially their built-in profit margin on each wager, also commonly known as "juice" or "take" in betting circles.

When you place a standard bet, you'll typically need to wager $110 to win $100. The extra $10 represents the vig – that's how bookmakers ensure they make money regardless of the game's outcome. This standard arrangement is often written as "-110" in American odds format.

Let's break down how vig works with a simple example:

- In a coin flip bet between two equally matched teams
- Team A: -110 ($110 to win $100)
- Team B: -110 ($110 to win $100)
- Total amount wagered by bettors: $220
- Winning bettor receives: $210 ($110 bet + $100 profit)
- Bookmaker keeps: $10 (the vig)

The vig percentage can vary depending on the type of bet and the bookmaker. While -110 (4.5% vig) is standard for major sports spreads and totals, you might encounter higher vig on parlays, props, and other specialty bets.

Experienced bettors always consider the vig when developing their betting strategy. A lower vig means better value for the bettor, which is why "shopping for lines" across different sportsbooks is a common practice among serious gamblers.

Understanding vig is crucial because it directly impacts your long-term profitability. To break even against the standard -110 vig, you need to win approximately 52.4% of your bets – this accounts for the extra amount you're risking due to the commission.

Remember: The vig is how sportsbooks stay in business. It's not a penalty or a scam – it's simply the cost of doing business in the betting world, similar to how other financial services charge fees for their operations.

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