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Definition of Juice (Vigorish)

sports-betting-vigWhat is Juice (vigorish) in betting? Are you familiar with the term “juice” in sports betting? Below, we offer a simple explanation; it is the amount of money (commission) a sports bookie receives for taking your bet, in order to ensure a profit whatever the outcome, assuming that the amounts placed on 1-Χ-2 will give you the same profit for all three selections. Here is an example: Let’s say the odds of a game are 1.80-3.20-3.80. The Juice is calculated according to the following formula:

Juice=1 – 1/[(1/1.80)+(1/3.20)+(1/3.80)]=11.6%

Example: Let’s say you place €80 on ace (1.80×80=€144), €45 on draw (3.20x€ 45=€144) and €38 on double (3.80x€38€=€144). In each one of the cases the bookmaker owes you €144. However, the total amount you placed was €163, meaning the bookmaker made a profit of €19 (including 11.6% commission).

Consequently, the juice in this specific example is an extra 11.6% on the value of the bet you initially placed. The Juice among internet companies varies between 5% and 11%.

You’d better avoid high commissions by betting on a few games instead of betting on parlays, as well as by trying different betting companies.