Understanding Baseball Betting “Juice” or “Vig”
By Loot, MLB Handicapper, Lootmeister.com
When betting on baseball, we must always contend with the almighty “juice”--also known as “vig.” It is what keeps the betting world going around. In other words, books aren’t in business for your entertainment. They’re in this to make money. The juice or vig is what allows them to survive year after year, as those who bet frequently will be left in the dust.
It’s a commission of sorts--a built-in price you pay in order to have the privilege of betting. And it varies--with the price you pay for the privilege of wagering ranging from a negligible amount to a more substantial rate. Obviously, we are in the mindset of reducing how much juice we pay. The more we get hit with vig, the harder it is for us to show a profit over the long haul.
THE LOWEST BASEBALL JUICE/VIG CAN BE FOUND AT 5DIMES SPORTSBOOK
The vig is a little trickier to detect in baseball betting. In football and basketball betting, it’s spelled out easily for all to see. In baseball, it’s more wrapped up in the breakdown of the numbers, but rest assured, it’s there. Here are a few examples so you can see how it works.
Chicago Cubs (+140)
Philadelphia Phillies (-160)
Can you see the juice? The book is making it so you need to wager $160 to win $100 if Philadelphia wins, but you only win $140 if Chicago wins. If there were no juice, the numbers would be the same. It would be +150/-150. By paying less on a Chicago win and forcing those to bet more by taking Philly, the bookie is guaranteed a profit in the event that the betting action is evenly spread amongst the two teams.
The same applies to all forms of baseball betting. When betting totals, you will see a more commonly-known form of juice--the infamous -110 line. Let’s take a look at an example:
Chicago Cubs/Philadelphia Phillies, Over 8.5 (-110)
Chicago Cubs/Philadelphia Phillies, Under 8.5 (-110)
With totals, you simply pick whether the total combined score will be under or surpass 8.5. But you’re doing it on -110 money line. That is juice. That is vig. It means you must bet $110 for every $100 you hope to win, whether you’re betting on the over or under. The book knows that over the long haul, you’re likely to win 50% of your bets. If you do, they still come out ahead because you’ve been betting 11 to win 10 the whole time. That adds up to big numbers over time.
Sometimes, you can see the money line skewed on totals for different reasons, making one part of the wager a favorite and one an underdog. The over could be +100 (even-money), while the under is -120. But at least when betting sides (who will win) and totals (over/under betting), you can rest assured that when it comes to juice/vig, you are not getting shafted like those who venture off the grid when betting baseball.
When making prop bets and futures wagers, the juice becomes thick. It’s not from concentrate anymore--this stuff is fresh-squeezed. The cruel part of it is that it can be impossible to really calculate unless you are a MIT mathematics whiz. When it’s easier to conceal the juice, you can be sure that the book is in fact juicing you to a higher extent than normal.
