Quick Answer: What Is The Vig On A Loan?

Noun.

vig (countable and uncountable, plural vigs) (slang) A charge taken on bets, as by a bookie or gambling establishment.

(US slang, crime) Interest from a loan shark’s loan.

A commission, finder’s fee, or similar extra charge.

What is a typical vig?

The vigorish – also known as vig or juice – is the price sportsbooks charge for making a bet. The most common vig used for each side of a wager is -110. That means for every $1.10 wagered, the bettor can win $1.

How much Vig do bookies charge?

The -110 indicates that for the bettor must wager $110 for every $100 they want to win. The $10 withheld from the bettor is the vig, which the bookmaker or sportsbook keeps as their profit.

Where did the term Vig originate?

Word Origin for vig

C20: short for vigorish, prob. via Yiddish from Russian vyigrysh profit, winnings.

What do loan sharks mean by points?

Answered Dec 5, 2013 · Author has 182 answers and 1.2m answer views. A “point” is just one percent. A 10 point loan means the borrower owes the amount of the loan plus ten percent interest on the due date.