Wagering on sports is a worldwide industry that rakes in profits in the billions on an annual basis. From your local bookie, to the slew of online sportsbooks, sports betting is extremely easy to partake in. Of course, the reason there are so many avenues available to potential bettors is due to the profit made by these bookmakers. It is very important for new bettors to understand the concept of the vigorish before risking their bankroll.

What is the Vigorish?

The vigorish, also known as the juice or the vig, is the amount charged by a sportsbook or bookmaker for providing their services. The idea behind the concept of the vigorish is tat the sportsbooks need to make money on their wagers regardless of the outcome of the sporting event. The vig works in conjunction with the point spread or the odds for any sporting event by driving up the action on both sides to minimize risk and ensure that the sportsbook will make a commission.

Who Pays the Vigorish?

When bettors place wagers with a sportsbook, they must risk $110 to win $100. Let’s say there is a football game between two strong teams, the Pittsburgh Steelers and New England Patriots. Neither team is favored, making the odds 50/50. You bet $110 on the Patriots while your buddy makes the same bet on the Steelers. The sportsbook receives a total of $220. After the Patriots win, you collect $210. The remaining $10 goes to the sportsbook as a form of commission or vigorish. That is how bookmakers, online sportsbooks and even blackjack online make their money.

As you can see, the vigorish is deducted from winnings. The losing bettor risked $110 and lost but did not pay any additional fee to the bookmaker. In contrast, the winning bettor made $10 less than the amount wagered. It is often assumed that the loser pays the vigorish but in fact, that is not the case. The loser actually played for free while the winner forfeited 9.1 percent of their wager.

Avoiding Vigorish by Betting on Underdog

Let’s say there is a basketball game between the Los Angeles Lakers and Portland Trailblazers and the Lakers are favored to win by two points. You bet $100 on Portland to win the game outright. Because the odds of them winning are lower than Los Angeles, your payout would be more than what you risked. In short, the safer the bet, the lower the payout. Same goes in betting in casino, the higher your bet, the higher online casino bonus you get – the more risk you assume, the higher the reward.

While NFL football betting players will be making their fantasy picks for Sunday, NHL betting players can do it all week long, although this will focus mainly on the weekend. Here are three players to watch.

Patrick Sharp, Chicago

Sharp is off to a great start with 11 points, and he has a home game against Los Angeles on Wednesday. The Kings are an open team, so there will be chances for Sharp. Then the Blackhawks host a young Edmonton team on Friday before they head to Minnesota on Saturday, so have him in your lineup.

Sidney Crosby, Pittsburgh

This is a no-brainer: never sit Sidney Crosby unless he’s hurt. The Penguins go to Tampa Bay on Wednesday before hosting Philadelphia in a rivalry game on Friday night, and Crosby loves playing against the Flyers. On Saturday, the Penguins will be in Carolina, and he’s a pretty strong player in back-to-back games.

Ryan Getzlaf, Anaheim

Getzlaf, like Sharp and Crosby, has 11 points to start the season, and the Ducks are counting heavily on his production. Getzlaf should be well rested as the Ducks play in Dallas on Tuesday, then they’re off until Friday when they host New Jersey on Friday, and then they head to San Jose on Saturday
night. Getzlaf gets all the ice time he can handle with regular shifts as well as on the power play, and he’s a guy that will make an impact not only on your fantasy team, but on the Ducks’ odds if you bet sports.

I suppose I should discuss offshore sportsbook picks, but c’mon, it’s the offseason. Let’s riff a little, have some fun at retired NHLers’ expense.

I’m betting, unless you’re a real dieheard hockey fan of 20-plus years, that you haven’t heard of Chris Nilan. Well, he was one of the more prolific goons of the late 1980s and early 1990s, playing with Montreal and Boston.

Apparently he was just arrested for trying to steal a bathing suit, which he was wearing under his clothes at a retail outlet. He apparently took a swing at a security guard and wrestled with cops on the ground before proclaiming he “just wanted to save a few bucks.”

I can’t begin to process the sadness of this scenario. Former tough guy, beaten down and forced to steal a bathing suit and rumble with cops? I feel bad even writing about it after he made so many hockey games worth the price per head in his career.

Thanks for at least defying any sports predictions I could’ve made this summer, Chris.