Some desperate people are trying to get out of a hole. For the most part, people sports gamble because they want to, and they can. Supply and demand. Some book in part because they are amazed at the popularity of casinos, online poker, state lotteries, and gambling in general. Build a casino and they will come. There seems to be no shortage of people who want to . One term that all sports gamblers need to understand is the word “Juice” also known as the “Vig” or “Vigorish.”
Most novice gamblers think that if you bet $100 that you either win or lose $100. Not so! All sportbooks or private bookies charge a commission of roughly 10%. This is based on the standard 11/ 10 odds sports betting gives you. This is the sportbook’s fee for setting up the system that allows you the privilege of placing your bets. The juice covers the house or bookies’ cost of doing business and gives them a profit for their trouble.
Most legal gambling houses take the 10% from the winning side of the bet. So, if you bet $100 and lost, you would lose $100. If you be t $100 and won, you would get back your original $100 plus $90 in winnings, totaling $190, not the $200 one might expect.