Sports betting has become more and more popular in recent years. As of 2022, the sports betting market was worth over $83 billion.
Bookie sportsbooks are some of the most widely available platforms for people to bet on sports. However, if you are new to sports betting, something you should know is that there is a sports betting vig with these sportsbooks.
What is a vig? This guide breaks it down.
What Is a Vig?
Before we can dive into the average vig, you need to understand what a vig is. Essentially, a vig is the fee that a sportsbook charges for you to use their platform to place their bet. It covers expenses that they have to provide you with the platform as well as services such as creating odds for each type of bet.
An example of this is when you get odds for a point spread of a football game. The New York Giants could be favorites by seven points over the Dallas Cowboys.
You would have the option to bet on the Giants at -7 or the Cowboys at +7. However, there would be odds placed underneath each of these bets.
In this situation, both bets would likely get around -110 odds. That means that you would have to bet $110 to win $100 or bet $11 to win $10.
What this means is that the bookie keeps about 10% of the betting money as a vig. This allows the bookie to make a profit no matter how those bets play out and it gives them a little extra insurance in case a big bet cashes in.
Average Vig Fee
So, what is the average vig fee? The answer to this depends on what type of bet you are making.
In the example above, a typical spread bet may have around a 10% vig.
However, there are soft sportsbooks out there that typically have a lower vig for sports bettors. The bets above may have -105 odds in those types of sportsbooks instead of -110. As a result, a bettor would only get charged a 5% vig there.
That is not the only type of vig with sportsbooks. A bettor could get charged a vig for future odds bets as well. Using the 10% rule above, this could mean that if someone has 10/1 statistical odds to win a championship, they may only get paid out for 9/1 odds and the bookie would keep the rest as a vig.
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Learn More About the Vig
So, what is a vig? A vig is the fee that bookies charge bettors to use their sportsbook as a platform for placing their bet.
The average vig fee could depend on what type of sportsbook you are using. For a traditional sportsbook, expect this to be close to 10% of the odds that you get. If you go offshore and use a soft sportsbook, this could be cut in half.
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