Juice Betting
Juice betting refers to the commission or vigorish that a sportsbook or bookmaker takes on a bet. The juice is typically expressed as a percentage of the bet and is added to the odds to create a profit margin for the bookmaker. For example, if a bettor places a $100 bet on a team with odds of -110, the bookmaker would return $190 if the bettor wins (the original $100 bet plus the $90 payout). The bookmaker's profit, or juice, would be $10. Some bookmakers offer reduced juice options to attract more bettors.
What does juice mean in betting?
In betting, juice refers to the commission or vigorish that a sportsbook or bookmaker takes on a bet. It is also known as the "overround" or "margin" and is typically expressed as a percentage of the bet. For example, if a bettor places a $100 bet on a team with odds of -110, the bookmaker would return $190 if the bettor wins (the original $100 bet plus the $90 payout). The bookmaker's profit, or juice, would be $10. Juice is added to the odds to create a profit margin for the bookmaker, built into the odds offered to the bettors. The standard juice is 10%, but it can vary depending on the bookmaker or sportsbook.
In a match between two sides or teams seen to be evenly matched, odds of -110 (American) or 1.91 (decimal) are the simplest and most popular types of juice. When the juice is -110, the bettor must stake $11 to make $10 on a winning play. The books ensure they win by putting juice on each side rather than making it even money (+100), with each side receiving the same handle.
Example
An example of juice betting would be a bettor placing a $100 wager on a football game where the odds for one team to win are -110. This means that for every $110 bet, the bettor would win $100. However, the bookmaker includes a 10% juice, which means that the true odds for the bettor to win are -120. So, the bookmaker will pay out $190 ($100 original bet + $90 winnings) if the bettor's team wins, while the bookmaker will keep $10 as profit or juice.
Juice against spread
Juice against the spread refers to the commission or vigorish that a sportsbook or bookmaker takes on a bet against the point spread. The point spread is a way for a bookmaker to even out the betting on both teams in a game by giving a certain number of points to the underdog team. The juice on a bet against the spread is usually expressed as a percentage of the bet and is added to the odds to create a profit margin for the bookmaker. For example, if the point spread on a football game is -3.5 in favor of one team and a bettor places a $100 bet on the underdog team to cover the spread, the bookmaker would return $190 if the bettor wins (the original $100 bet plus the $90 payout). The bookmaker's profit, or juice, would be $10.
Juice against moneyline
Juice against the moneyline refers to the commission or vigorish that a sportsbook or bookmaker takes on a bet against the moneyline. The moneyline is a way to bet on a team to win the game outright. The juice on a moneyline bet is usually expressed as a percentage of the bet and is added to the odds to create a profit margin for the bookmaker. For example, if a team is listed at -150 on the moneyline, a bettor would need to wager $150 to win $100, and the bookmaker would keep $50 as profit or juice.
The juice on a moneyline bet can vary depending on the bookmaker or sportsbook, and it's often higher for the favorite team than for the underdog team. Some bookmakers offer reduced juice options to attract more bettors.
Juice on future wagers
Juice on future wagers refers to the commission or vigorish that a sportsbook or bookmaker takes on bets made on events that will happen in the future, such as the winner of a championship or the total number of wins for a team in a season. The juice on future wagers is usually expressed as a percentage of the bet and is added to the odds to create a profit margin for the bookmaker. For example, if you place a bet of $100 on a team to win the Super Bowl with odds of +1000, the bookmaker would return $1000 if the bettor wins (the original $100 bet plus the $900 payout). The bookmaker's profit, or juice, would be $100.
The juice on future wagers can vary depending on the bookmaker or sportsbook, and it's often higher for bets made closer to the event. Some bookmakers offer reduced juice options to attract more bettors or incentivize them to place their bets early.
How juice is calculated
Juice, or vigorish, is typically calculated as a percentage of the bet and added to the odds to create a profit margin for the bookmaker.
For example, if a bettor places a $100 wager on a team with odds of -110, the bookmaker would return $190 if the bettor wins (the original $100 bet plus the $90 payout). The bookmaker's profit, or juice, would be $10, which is calculated as follows:
Juice = (100 - 90) / 100 = 10%
Another way to calculate it would be:
Juice = (100 / 110) x 100 = 9.09%
It's worth noting that juice can also be represented as a dollar amount instead of a percentage. For example, if the odds are -110, the juice would be $10. If the odds are -105, the juice would be $5.
It's essential to remember that juice can vary depending on the bookmaker or sportsbook, and it's often higher for the favorite team than the underdog team. Some bookmakers offer reduced juice options to attract more bettors or incentivize them to place their bets early.
What is vigorish? Is it the same as juice?
Vigorish, or "vig," is another term for the commission or juice a sportsbook or bookmaker takes on a bet. It is essentially the same as juice, and you can use the two terms interchangeably. Vigorish is a term commonly used in the gambling industry, particularly in sports betting. It refers to the percentage of the bet that the bookmaker keeps as a profit when you bet vig, which is built into the odds offered to the bettors. The standard vigorish is 10%, but it can vary depending on the bookmaker or sportsbook.
How to remove Juice
There are a few ways to remove juice or reduce the impact of the commission charged by bookmakers when sports betting vig. One way is to look for bookmakers that offer reduced juice or lower vig. Many online sportsbooks offer reduced juice options, and some even have special promotions that offer lower juice for specific events or games.
Another way to remove juice is to use a betting exchange where the commission is not charged by the house but by the users.
One other way to remove juice is to use arbitrage betting, where a bettor takes advantage of different odds offered by different bookmakers on the same event to guarantee a profit regardless of the outcome.
It's also possible to use mathematical models or computer algorithms to predict an event's outcome and help minimize the impact of juice.
It's important to note that while reducing or removing juice can lead to a higher return on investment, it's not a guaranteed way to make a profit. You always need to bet with caution and within the limits of personal financial stability.
Benefits of Reduced Juice
Reduced juice is essential for bettors because it can lead to a higher return on investment over time. Reduced juice means that the bookmaker's commission or "juice" is lower than the standard rate, which can result in a higher payout for the bettor if their bet is successful. Reduced juice can also be referred to as "reduced vig" or "vigorish." By using reduced juice, bettors can increase the overall profitability of their betting strategy, which can make a significant difference in the long term. Additionally, some reduced juice bookmakers can offer a better betting line, which can make a difference in the outcome of the bet.
