You can use an online handicapping calculator to figure the juice, or you can do it yourself via the following steps:
- Translate the odds into implied probability.
- Add the implied probability on both sides together.
- Subtract 100 to get the vig.
Is there a vig on moneyline bets?
On moneyline bets, the vig is baked into the plus and minus lines. The plus moneyline is always smaller than the minus moneyline; that difference is the vig. The smaller the difference, the lower the vig. If you want to know the exact percentage, there are online calculators you can use to figure it out.
How do you calculate winnings on the money line?
If you wanted to bet $20 on a -200 favorite, you would win $20 x (100 / 200) = $10. Here's the formula to calculate how much you'd win betting on a favorite on the moneyline: (Wager amount) x (100 / odds)
How does vigorish work?
The vig (short for vigorish) in sports betting is the house edge. Though “house edge” is a more common term in the casino world, it gives us important context here. In sports betting, the vig is how a sportsbook makes money. Sports betting sites need to turn a profit, so they work a slight advantage into each bet.
What is a vig calculator?
A no vig fair odds calculator is used to back out "fair" odds from a market. This tool can be used to compare markets and odds, as well as find the implied win percentages for a given team.