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How do sports gamblers make money?

Sports betting companies make money by collecting a commission on losing bets, which is often called the vigorish. Vig, or vigorish, is the cut or amount charged by a sportsbook for taking a bet, also known as juice in slang terms. The sportsbook only collects the vig if the bettor loses the wager.

rotowire.com - How do sports betting companies make money? - Rotowire
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How do sports betting companies make money?

Sports betting companies make money by collecting a commission on losing bets, which is often called the vigorish. Vig, or vigorish, is the cut or amount charged by a sportsbook for taking a bet, also known as juice in slang terms. The sportsbook only collects the vig if the bettor loses the wager. For example, a point spread is often listed with -110 odds. If the Eagles are -6.5 point favorites, that would be at -110 odds. If there was no vig, it would be at even odds, or +100. With the vig, a $100 bet would result in a $190 payout. If there was no vig, a $100 bet would result in a $200 payout. If you want to win $100 at -110 odds, you'd have to bet $110 because of the vig and when the bet loses, that $10 goes straight to the sportsbook. Without the vig, you could win $100 on a $100 bet. Of course, not all sportsbooks are the same and sometimes regular odds are listed at -115 or -120. As more states legalize sports betting, the variety in vigs across states will be a talking point. That's because a lot of in-person sportsbooks take a higher cut of bets than online sportsbooks, who receive more bets because they are more widely accessible. While each state has different rules, there are certain states where sportsbooks have a higher vig across the board, no matter where you wager. There are also situations where -110 odds would push to -120 or higher because that bet is getting a lot of money. If a lot of people are betting the Eagles at -6.5 (public money) and the sportsbook doesn't want to move that number to -7, they'll push the odds to -120 or -130, meaning a $100 bet would result in an even smaller payout.

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What is prediction give example?

A prediction is a forecast, but not only about the weather. Pre means “before” and diction has to do with talking. So a prediction is a statement about the future. It's a guess, sometimes based on facts or evidence, but not always. A fortune teller makes a prediction using a crystal ball.

vocabulary.com - Prediction - Definition, Meaning & Synonyms - Vocabulary.com

prediction

I have a prediction: You’ll know what this word means by the time you finish reading this explanation. A prediction is what someone thinks will happen. A prediction is a forecast, but not only about the weather. Pre means “before” and diction has to do with talking. So a prediction is a statement about the future. It’s a guess, sometimes based on facts or evidence, but not always. A fortune teller makes a prediction using a crystal ball. A meteorologist uses maps and scientific data to tell us about the possibility of rain, snow or sunshine. And when I made the prediction that you would understand what this word meant, it was based on instinct, a gut feeling telling me what would happen next.

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