What is a Vig Betting?
Often, people will place bets with bookmakers (or ‘vig shops’) when they feel
like winning, but don’t want to risk too much money on one bet. Vigs are
designed to give you the best of both worlds—you get the thrill of a winning bet
without risking all of your cash. Vigs are commonly accepted in the United Kingdom,
but can also be found in Australia and New Zealand.
In what follows, we will discuss the differences between traditional
bookmaking and vig betting, and give you some helpful pointers on how to make
the most of your newfound knowledge.
Bookmakers vs Vigs
Traditional bookmakers have been around for centuries and are, essentially,
just like modern-day bookmakers except that they didn’t have the luxury of
software back then. Bookmakers take bets from people and then pay them back the
following month, with odds that change according to demand.
The advantage of using a traditional bookmaker is that they provide you with
the best odds possible for any given selection. In some cases, you might find
odds that are less favourable than what you see online. However, this is
typically due to competition. As more and more people flock to online betting
sites, the odds tend to shift in favour of the bookmaker with the most traffic. In
some instances, you might be able to find a great bookie that offers some
exclusive bonuses, but you will have to do some digging to unearth their
Vigs are a fairly recent development in the world of betting and were first
brought to the mainstream public’s attention in the 2000s. Vigs are designed to
provide you with the best of both worlds—you get the excitement of a bet without
the need to back it with your own cash.
As the name would suggest, a vigr is a combination of ‘vig’ (short for
‘variable influence gauge’ or ‘variable index gauge’) and ‘betting’, and it was
first applied to sports betting back in the early 2000s. The idea behind
vigrish sports betting is to give the user more control over their wagers by
using a range of different odds rather than having to settle for the fixed odds
that a traditional bookmaker provides. For example, if you wanted to place a bet
on the outcome of the next Premier League game between Liverpool and Arsenal,
you would have to go through the following sequence of events to do so:
- Go to your bookmaker and put in a bet on Liverpool, odds 1.5
- Go to
your bookmaker and put in another bet on Liverpool, odds 1
- Go to your
bookmaker and put in a third bet on Liverpool, odds 0.5
- The game ends in a
2-2 draw, you win the first two bets but lose the third
With a vigr, you could have entered the same bet with these three options
and, in the event of a draw, you would have split the winnings.
Besides allowing you to have more control over your betting, many vigr
bookmakers also provide some great advantages for recreational users. Often,
vigr bookmakers will offer you better odds than traditional bookmakers on long
shots, early games and certain international matches. This is mostly due to
the fact that they do not have the overhead of a physical bookmaking operation,
and so, they can afford to take larger risks.
How to Make the Most of Your Vigi
Having said that, you should not expect Vigs to solve all of your betting
problems. Just like traditional bookmakers, they too have their downsides. The
major difference between the two is in how you should approach them—with
traditional bookmakers, you should use them as a last resort, whereas with Vigs,
you should try to find the good parts and avoid the bad parts.
One of the major downsides to using a traditional bookmaker is that they
typically offer only very limited odds variation, meaning that you will rarely, if
ever, be able to get better odds than what they are willing to offer. Even if you
do manage to find a great bookie that offers some great perks, you will soon find
yourself back in the same situation when it comes time to place a bet. If you
want to make the most of your vigr, you should steer clear of the following:
- Betting on sporting events where the jackpot is high
events that are likely to attract a significant number of people
where the favourite team is heavily favoured
- Wagers involving
outcome-based bets (e.g. ‘Will John Doe beat Pete McLaren in a running race?’)
where the odds are very short (usually shorter than 1.0)
All of these things put you at risk of losing money, and so, it would be
wise to avoid them if possible. Sometimes you will encounter a bookmaker that is
unaware of the existence of a vigr, but in most instances, this is a sign that
they do not want to be associated with them. If you find yourself in this
position, it simply means that they do not offer what you are looking for and
that you should move on to another bookmaker.
Which Type of Betting Activity is Right For You?
So, you have decided to try your hand at betting—that’s fantastic! Before you
embark on any kind of gambling, it is important to realise that not all types of
betting are created equal, and you need to pick the right type of activity
according to your own personal preferences. In what follows, we will discuss some
of the more common types of bets you will encounter and whether or not you
should dive into each one.
Bets Against The Odds
One of the biggest appeals of sports betting is that it is largely
unpredictable. That is, while bookmakers will happily take your money and
promise to pay you back, the outcome of a game is somewhat unpredictable. This
is mostly due to the fact that sportsbooks take on large amounts of money from
betting customers, so they have to make their money back plus a little
more—hence why they are often reluctant to take on large bets that they know
they are not going to win. The unpredictability of a sporting event draws in
people who like to feel like a ‘smart’ gambler—the kind of person who goes 0-100
in the blink of an eye and is never at risk of losing money.
On the opposite end of the spectrum, you have ‘Bets On The Edge’. Bets on
the edge are all about picking winning teams or individuals as determined by
some external factor. For example, you might want to bet on whether or not a
certain horse will cross a certain finish line first, or whether or not a
particular basket will feature the most or least amount of ping pong balls
after some random drawing—the possibilities are endless. Bets on the edge can
be incredibly exciting as you are essentially placing a wager on whether or not
some external event will take place as determined by pure luck.
Money Line Bets
When you place a straight up ‘money line’ bet, you are effectively placing a
wager on whether or not your chosen team willwin or lose a particular sports
game. For example, let’s say you picked Manchester United to win the Premier
League in the coming season. You would then place a bet on United to win the
match, with the payout being based on whether or not they did win. Similarly,
you could bet on Manchester City to win the Premier League or bet on
Liverpool to repeat as champions.