The vig is a hidden fee or commission placed on the consumer that allows for the SportsBook to bring in revenue. Luckily, with BettorEdge, you'll see our no-commission model provides pure odds to you with no commission. Meaning, it's pretty certain you can find the best price and maximize your winnings. However, let's break down how many companies take a fee:
When one looks at American Odds, you'll often see the prices on both sides represented at -110/-110. As noted in this article about pricing, that means both sides must pay $110 to receive $100. Accordingly, a SportsBook would take $220 from both sides, but only pay out $210. That $10 not paid out is the fee charged to their users.
As you look across the industry, you'll find fees taken in pre-market events in the 4-6% range. Additionally, player props, parlays, or certain events have fees that reach up to 20%! This really takes a toll on your opportunity to win. Read the next article to get an understanding of the compounding impact of fees in sports betting!