The commission or fee charged by a casino or bookmaker on bets, also known as vig. This fee ensures that the bookmaker maintains a profit margin, regardless of the bet’s outcome.
In sports betting, juice is often seen in point spread bets. For example, odds of -110 mean that a bettor must wager £110 to win £100. The extra £10 represents the juice. To calculate the juice percentage, divide the amount of juice by the total amount wagered. For instance, with a £10 juice on a £110 bet, the juice percentage is approximately 9.1%.
The juice affects the potential profitability of bets. Higher juice means bettors need to win more often to break even. For example, with a 10% juice, a bettor needs to win approximately 52.4% of the time to achieve a break-even point.
This system allows casinos to generate revenue from poker games without directly participating in the betting. The term “juice” is also used in sports betting, where it refers to the commission charged by sportsbooks on bets, but in casinos, it primarily applies to poker and similar games.
