What Is The Juice In Betting?
In the simplest terms, the “juice” in betting is simply another way of saying the vig, vigorish, betting stake, or the pay cut a sportsbook takes from every placed through them. Obviously, the house has the edge here, and this is one of their greatest weapons to deter bettors from cashing out over the long term.
This juice figure is commonly listed next to the point spread
, and in the interest of maintaining neutrality between the underdog and over of a betting line, most sportsbooks will commonly set this juice fee around -110.
This means that you must fork over a 10% payout cut regardless of which side you want to gamble on, and that for every $100 you want to win, you must put $110 on the table. The house collecting $1 for every $10 you wager might not sound like a lot in isolation,
Keep in mind that this is just a common rule of thumb, not a universal default industry standard. The amount of juice you’ll need to put down for the bet you intend on placing will all depend on:
The sport or event you’re betting on
The sportsbook or betting exchange you’re wagering with
The total bet payout you’re hoping to win
If you’re still curious about how this juice varies, how it can defer your bet, and how you can use it to your advantage, then keep reading this page to get the full squeeze on betting juice.
Betting Juice Explained
Betting juice, at its most even, encompasses a 50% outcome on each side, as well as a 100% implied probability across both. That said, this probability has to be artificially inflated or altered by the sportsbook, because at the end of the day, the house needs to retain its cut to keep the lights on.
To find the juice after these adjustments, you should add the implied probability of both sides, then subtract the result by 100. Beyond doing that, here are two other useful facts you should know in relation to calculating with the betting juice:
Calculating the implied probability in bets with negative signs: Divide the negative odds by the negative odds plus 100, then multiply the result by 100.
Calculating the implied probability of bets with positive signs: Divide 100 by the positive odds plus 100, then multiply the result by 100.
Calculating the implied probability without the juice: Divide the implied probability of the first team you wagered on, then add it with the implied probability of both teams.
If you don’t feel like doing all that mathematical legwork, you can use online calculator tools
like this one to determine how juice factors into implied probability. Beyond vig, sometimes betting juice can also represent:
The long odds of betting futures
The gap between two money lines
It’s particularly important to know the latter if you plan on betting the middle, as that will give you a better idea of the numbers you need to hit between the spread. You might also want to consider seeking bets with lower juice totals, so below -110, as those will offer you more of a betting edge than the house.
Granted, the house has its final say on the juice it puts down on its sportsbooks. Again, it cannot be overemphasized that $1 fees for every 10 dollars will add up over time, and that an entire betting handle can accumulate to generating millions of dollars for the sportsbook operator when all is said and done.
However, even if they don’t find a great juice range, bettors can still take additional measures to improve their odds and implied probability, measures like:
These bonus codes are a great win-win incentive to ensure the house retains money and new players are encouraged to play with lower financial risk.
Juice Betting Tips
If you haven’t internalized the following two words after reading all of the above, then we’ll emphasize them for posterity: “SHOP AROUND”. Betting lines seldom stay static in this world, as a wide range of external variables can affect the likelihood of implied probability and the odds of certain outcomes happening.
To gain the best understanding of these line movements, you should follow multiple point spreads and betting lines across multiple sportsbooks and betting exchanges. Not only will this help you gain a better understanding of where the spread total is most likely to fall, but where you can squeeze the best betting juice.
Currently, you can enjoy legal online sports betting services from the best online sportsbooks in Washington D.C. and the following 13 states:
Depending on where you live, your area could currently offer as little as one sportsbook option, or as many as twenty betting markets. However, since the Supreme Court has effectively legalized sports betting on the national level, this number is only bound to keep growing and growing with time, as more and more American bettors will be able to enjoy sportsbooks like:
Golden Nugget Online
Fox Bet Sportsbook
The Score Sportsbook
Moreover, betting exchanges have long lagged behind in the United States, primarily due to industry pressures and legal restrictions, but the markets are beginning to undergo a gradual sea change on that front as well; in New Jersey, two exchanges (Prophet and Sporttrade) are set to open up before the year comes to a close, with additional betting markets in other states slated to open up over 2022.
In the meantime, you can stay in touch with us to better understand the iGaming industry’s most exciting updates as they emerge.
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