What the oddsmaker does in relation to bettors in a sportsbook is to essentially levy a tax or fee each time that a wager is made. This can be known as the “vig,” or one can also call it “juice.” Either way, it basically represents an amount of money you will risk over and above what you hope to win on any particular bet.
What is Betting Juice? First, let’s look at football or basketball.
The standard when we are talking about football or basketball is that you will lay $1.10 for every dollar you are hoping to win on these events, which, translated into how you are likely to see them in the sportsbook layout, is -110. It is also known as the “11-to-10.”
Let’s make an example out of this. If you wanted to bet $500 on a game, you would actually be laying 11-to-10, or $50, which means your risk is $550. That’s what you will lose if you lose the bet. If you win, you’ll get $500. So obviously there is a difference, and that is what is paid to have the wager “booked.”
So in a simple scenario like this, you will always be risking more than your payout. If you are following along, it would stand to reason that if there is equal amounts wager on both sides of a game, the bookmaker would come out of that entire transaction with 10% of what is lost, or 5% of the total volume. That’s a pretty good deal for them.
Remember that at VietBet, reduced juice makes every visit a winning one, as you’ll save money and have a better chance of winning. Sign up today and take advantage of it!
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What is Betting Juice? And how does it affect me?
You can easily see how the juice can add up for you if you place a lot of bets. And it creates a situation where you are NOT going to break even if you have 50% winners and 50% losers. In fact, you will have to win 52.4% of your wagers, if they are all of an equal amount, to break even.
But there is another scenario if the “juice” is different. What if, instead of laying -110, you were laying just -105? Or -103? Suddenly you can see that the sportsbook is going to be taking less of your money for the same record (results) over any given period of time. Suddenly, if you are laying -105 on every game, you only have to win 51.2% of your wagers to break even, and, at -103, it’s just 50.7%. So over time, your chances of losing bankroll drop when you are laying a smaller number.
What is Betting Juice? And what is Reduced Juice?
This concept is obviously simple enough, and it is known as “reduced juice.” It is one of the things that is commonly offered at VietBet, where it is not unusual for you to be laying a small price like -101 on a side or total, or perhaps no juice at all. You may not look yourself as a high roller, or even a high-volume bettor, but over the course of the season, even if you’re only betting $50 per game, you might wibd up putting $25,000 into action over the course of the year without even realizing it.
Reduced juice saves you money, and continues to save you money, when you bet sports. And that is why it is one of the best deals you can get from a sportsbook.
It’s one of the options offered at VietBet, where you can also wager in real-time on any number of different events, including baseball, football, basketball and hockey, with great payoffs on exotics as well…… And keep in mind that deposits can be made using your Visa card, person-to-person transfers (like Western Union) or the virtual currency of Bitcoin, which is fast and easy with their automated system, and NEVER incurs a transaction fee!