In the context of sports betting, the term juice or vigorish (vig) is used to refer to the commission taken by bookmakers for accepting a wager.
Why Do Bookmakers Take Juice?
Juice is necessary for risk-management and neutrality purposes. It allows bookmakers to take a guaranteed profit, regardless of the outcome of the match. At the same time, it lowers the vested interest a gambling venue has in the outcome of a sporting event, which helps ensure the neutrality of the bookmaker.
Synonyms for the term juice: the cut, the under-juice, the vigorish, the house edge, the take, the margin, and others.
Juice:
- The commission taken by bookmakers for accepting a wager.
