Vig Calculator

Category: Betting Calculators

 

What is Vig ;

Vig is the sure profit of the Bookmaker (the organizer of betting) regardless of the outcome of the event. It is useful to remind us that the sportsbooks are not charities but profit organizations.

Thus, for example, suppose that we have a match with odds 2 - 3 - 5 for home to win , draw anf for away to win,respectively. If we calculate to win 100 units by each result, we would have to bet:

100 / 2 (odds for home to win) =50 Units

100 / 3 (odds for draw) =33,33 Units

100 / 5 (odds for away to win) =20 Units

So, we see that to win for sure 100 Units, we'll had to bet 50+33.33+20 = 103.33 Units, that meant, that if we place bets on all 3 events at the same time, we are losers at 3.33 Units.

This units amount ( 3.33 Units) is the Vig , which translated into a a percentage of 3.23%. (3,33/103,33=3,23%)

The Vig calculator will be useful to betting, because when we bet on events with low vig , the bet  obtain greater value ( becomes Value bet )

The recalculations done by pressing the button "Update" at the bottom of the calculator, or more easily by clicking on a empty area on your screen.