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About LinkBacksYes, after you break it down:
The Washington Redskins are playing the New York Giants, with the bookmakers setting the moneyline at -110 for each team. 100 Redskins fans place a $110 bet to win $100 on their team at 5Dimes, and 100 Giants fans place a $110 bet to win $100 on their team at the same Sportsbook.
5Dimes has now taken $11,000 in bets on each team to win. Whichever team wins then half of the bets will win $100, and the other half of the bets will lose $110. This means the Sportsbook will be paying out $10,000 to the winning bets, while retaining the $11,000 of losing bets ? thus locking in a $1,000 profit whatever the result.
As you can see, the vig is beneficial to the bookmaker, and gives them a reason to keep taking our bets. While it may seem on first look to be something that only happens in sportsbooks, vigorish is also common in other forms of gambling, with one major example being the rake taken in poker.
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Thread: Is Vig Paid on Winning Bets
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09-27-2012, 07:59 PM #1PokerOwned Admin
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Is Vig Paid on Winning Bets
"And Shepherds we shall be. For thee, my Lord, for thee.
Power hath descended forth from Thy hand. Our feet may swiftly carry out Thy commands.
So we shall flow a river forth to Thee And teeming with souls shall it ever be.
In Nomeni Patri Et Fili Spiritus Sancti."
http://www.youtube.com/watch?v=7_AtUXdXA_s
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09-27-2012, 08:01 PM #2PokerOwned Admin
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However, with that said.. When I bet with my local bookies, I only pay the vig on losing bets. If I bet 100$ and win, I get 100$
If I bet 100$ and lose, I owe 110$"And Shepherds we shall be. For thee, my Lord, for thee.
Power hath descended forth from Thy hand. Our feet may swiftly carry out Thy commands.
So we shall flow a river forth to Thee And teeming with souls shall it ever be.
In Nomeni Patri Et Fili Spiritus Sancti."
http://www.youtube.com/watch?v=7_AtUXdXA_s
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09-27-2012, 08:02 PM #3PokerOwned Demi-God
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thats all we were saying, that is the case everywhere, your op didn't say anything different
Originally Posted by Zab
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09-27-2012, 08:02 PM #4PokerOwned Admin
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The OP makes the claim that you pay $110 and get back $100 if you win
"And Shepherds we shall be. For thee, my Lord, for thee.
Power hath descended forth from Thy hand. Our feet may swiftly carry out Thy commands.
So we shall flow a river forth to Thee And teeming with souls shall it ever be.
In Nomeni Patri Et Fili Spiritus Sancti."
http://www.youtube.com/watch?v=7_AtUXdXA_s
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09-27-2012, 08:04 PM #5PokerOwned Veteran
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lol some people just dont get it
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09-27-2012, 08:05 PM #6PokerOwned Demi-God
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no it doesnt, lol, read it again, says if you lose kyou pay 110and if you win they pay 100, same as local bookie Originally Posted by Zab
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09-27-2012, 08:11 PM #7PokerOwned God
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The money line isnt an even money bet. You have a favourite and a dog. That is why you might have to bet $110 to get a $100 win. Say tonights game the Ravens are -560 so you have to bet $560 to win $100 on Ravens winning while Browns are +475 so u only bet $100 to win $475.
The spread and over/unders are set at a certain amount to make it an even money bet on both sides. That is when Vig comes into play.
The spread for tonight is Ravens -12. So if u want to bet the ravens and get an even money bet where u bet $100 and win $100 u have to take them -12. If u want the moneyline on them just winning with no handicap you have to bet $560 to win the same $100.Last edited by Prawney; 09-27-2012 at 08:20 PM.
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