What does juice mean in sports betting? Juice Betting Explained

March 23, 2023

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What does Juice mean in betting?

Juice is the percentage of successful bets on the sportsbook in sports betting. For the books, the point of Juice is to guarantee a profit if each side or outcome of the game or contest is equal (total amount). No matter the sport or the specific event, there is always something good in any head-to-head encounter. Some sportsbooks are more eye-catching than others, affecting how much you can profit from sports betting in the long run. Juice can (and probably should) decide which book you choose to bet on).

The simplest and most common form of Juice is odds of -110 (US) or 1.91 (decimal) in a match between two teams/teams considered close. A Juice of -110 means that bettors must wager $11 to make a profit of $10 on a successful game. By placing Juice on each side instead of making each side equal money (+100), these books ensure that they appear on top of money/handles on each side, receiving the same handle.

Example of Juice

The ubiquity of Juice in sports betting is terrible news for bettors but good news for sportsbooks. After all, this is how “books ensure that they often stand out in currency exchanges.” Juice is sometimes obscure, and it comes in many different forms. The exchange rate for the spread market is generally -110 or -115. Money lines and futures markets are also alive, although it may be less obvious to notice that many teams/individuals offer bonuses.

Is there Juice against the spread?

Unfortunately for bettors, every betting market is live. Spread betting is no exception. In most cases, when betting on spreads, both sides will have the same Probability of coverage and the same amount of Juice. Regarding football games, the Juice is generally -110 per side. As mentioned above, you would have to wager $110 to make a profit of $100 on a successful match (or $11 to win $10).

For example, the Kansas City Chiefs beat the Tampa Bay Buccaneers at -3 in Super Bowl LV, while most sportsbooks offer odds of -110. If Tampa Bay has a decent amount of money coming in, the books could choose to move the line or change the Juice. If they didn’t want to change the odds to Chiefs at -2.5, they could change the Chiefs to -105 and give the Bucs less favorable odds, say -120. Even without moving the line, that would prevent more betting on Tampa Bay.

Is there Juice on the money line?

Yes, there are benefits to money line betting too. While most of the matchups are at the bottom of the pack, even in this case, there is still vitality. One team/individual may lose money, and another may add money, but the favorite is always more Off the money than the loser. The gap between the two money lines is the Juice. Most sportsbooks offer odds of 20 cents. It shows a difference of 20 cents in odds on a dollar between the two sides. For example, if the San Francisco Giants are at -140, the Philadelphia Phillies are at +120. As the odds become more skewed, the points will increase. For example, if the Phillies are a +180 underdog, then the Phillies could be a -220 favorite. It will form a 40-cent line.

The Juice is the difference between each team’s implied Probability of winning and the sum of 100. In the first Giants (-140) vs. Phillies (+120) example, the Giants have an implied probability of winning of 58.3%. The Phillies have an implied probability of 45.5%. These two figures add up to 103.8%. In other words, the sportsbook takes 3.8% of every dollar wagered on this particular money line market.

Are there any benefits to betting on futures?

The Juice may be more subtle regarding futures betting, but this market has more Juice. In many futures markets, no one team is cutting prices; in other words, no one is in favor of the rest of the field as a whole. But every team is adding money, so there must be Juice.

It is related to the sum of the implied probabilities of each future Bet in the market. Let’s take the 2021 NFC West as an example. In the regular season, the San Francisco 49ers were +190 to win their division, the Los Angeles Rams were +200, the Seattle Seahawks were +280, and the Arizona Cardinals were +600. We’ll discuss implied probability calculations below, but these odds suggest the 49ers have a 34.5% chance of winning, the Rams have a 33.3% chance, the Seahawks have a 26.3% chance, and the Cardinals have a 14.3% chance. Do these probabilities add up to exactly 100? No, they add up to 108.4%. That means “the books make up 8.4 percent of every dollar wagered on the NFC West.” When you put 32 teams into the Super Bowl market, “books” make up a much more significant percentage.

How is sports betting juice calculated?

Implied probabilities determine the odds in any market. Bookmakers use the Probability of winning to set their odds, and bettors can look at the odds to calculate the Probability of winning. Below are two formulas, one for subtracting money and one for adding money.

  • Negative Odds / (Negative Odds + 100) * 100
  • 100 / (positive odds + 100) * 100

The Buffalo Bills are -150 to win the AFC East. Using the Negative odds formula, add 150 + 100 to get 250, divide 150 by 250 to get 0.6, and multiply 0.6 by 100 to get 60. So the implied Probability of the Bills winning is 60%. In the NFC West example, the Rams are +200. Using the Positive odds formula, we add 200 to 100 to get 300, divide 100 by 300 to reach .333, then multiply .333 by 100 to get 33.3. Therefore, the implied Probability for the Rams to win the division is 33.3%.

Using the Negative odds formula for the standard -110 ATS juice, you’ll see that this equates to 52.4%. Even though both sides have the same chance (if they are both -110), neither team is 50%. In this case, the book charges 2.4% on every dollar you wager.

What does vigorish mean the same as Juice?

Vigorish is the same thing as Juice. Juice is a term specific to the sports betting world, while vigorish has broader uses in finance, stocks, and sports betting. Short for “Vig,” the word can refer to the interest owed to a usurer in exchange for credit. Interest, cut, take a margin, and percentage are similar terms. In this case, the vig is the fee the bookmaker charges for accepting bets from bettors. In this context, vigorish and Juice mean the same thing.

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