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Sport Betting Basics
At the heart of it, a sports wager is as simple as any gambling proposition can be: I think one team can beat the other team. If you happen to know someone who likes the other team to win, great; you’ve got a bet. If not, you need someone to book your action. And that’s where a sports book comes in, be it online, at a casino (only in Las Vegas within the United States) or the guy sitting in the corner of your local tavern or pool hall. To keep the action flowing, sports books have come up with a huge variety of betting options.
In every betting situation, the sports book attaches an extra price, where they make their profit for providing you with a service. In normal commerce, this may be called a processing fee. In betting, it’s called vigorish, the vig, juice or lots of other terms. As long as the book can balance the action on both sides of the bet, the vig guarantees they will make money. How the vig is applied depends on the type of bet you make.
Sport Betting Basics In every betting situation, the sports book attaches an extra price