If you’ve been in the world of sports betting for any amount of time, you’ve probably been familiar with impossible wins and frustrating losses. You might have even wondered how sportsbooks are able to maintain profitability despite these unpredictable outcomes. The truth is sportsbooks have a built-in edge that ensures their profitability in the long run. That’s what we usually call the “bookmaker’s edge” or “house edge.” In simple terms, it’s the advantage that sportsbooks have over bettors, which allows them to make a profit regardless of the outcome of a game. Most of the time, they do this by setting odds that are in their favor. When you place a bet, you’re essentially betting against the sportsbook, so they have an inherent advantage over you. This is why it’s crucial to understand how the bookmaker’s edge works. Don’t worry. We’ll also discuss some strategies for beating it.
Vig
The vig is a term that holds significant power in the realm of sports betting. Short for vigorish or ‘juice,’ the vig represents the bookmaker’s cut on each wager placed. It’s their way of ensuring profitability regardless of the outcome. When you place a bet, you’ll often see odds listed with …