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Floyd Mayweather vs Conor McGregor is August 26th 2017
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Laser Offline

Posts: 225
Joined: Aug 2011
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Post: #99
RE: Floyd Mayweather vs Conor McGregor is August 26th 2017
To further explain how the bookies operate, they all charge a something called a vigorish (or vig for short). This is a percentage that gets knocked off your winnings that you collect if your bet wins. For example, let's say your bet pays 100 and the vig is 5%. You will recieve 95 in winnings. In an ideal scenario, the casino has an equal amount of payouts at risk on both sides of a bet, so they will be covered no matter the outcome, and their profit will be the vigorish they charge. They adjust the odds as time goes on in order to enticd betting volume one way or another. For example, if one side has too much volume, they will worsen the odds on that side and improve the odds on the other to balance the book.
06-19-2017 12:44 AM
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RE: Floyd Mayweather vs Conor McGregor is August 26th 2017 - Laser - 06-19-2017 12:44 AM

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