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Friday, January 21, 2005
Vigorish Or Vig
The Edge Against You
Have you ever heard the term Vigorish, or Vig? You know what it means? It’s the lousy edge against you. It’s the juice which keeps the house operating in free casino games.
If you go to a casino, or a racetrack, or even when calling your local bookie, it is this Vig that eats away at your bankroll. The bigger the Vig you give up, the quicker you will be eliminated from a game.
For example, at the racetrack (and depending upon the State you’re in), an average of 18.5% is taken from every bet pool (Win, Place, Show, Daily Doubles, Exactas, etc.) and never paid out to winning ticket holders. This is legally absconded with by the state and federal governments for taxes. Plus, the track also gets a share known as breakage. When the pie is divided, bettors share about an 81-cent slice for each dollar wagered.
That is some chunk to take off the top. The same is true whenever you play in a “house “ game - the Vig pays for services you get: Lights, drinks, entertainment, etc. Anything that costs the house money.
Obviously, you want to play in games where the Vig is low. Understanding all taxes and draws that come out of a game is not necessary. All you must know is which games provide the least built-in drain on your bankroll.
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