Sample Essay

One of the most major misconceptions that are present in the sport betting world are the ones related to the ideology and the concept of vigorish, and precisely as to how it affects the bettors. The majority of the sports bettors who believe that the percentage they pay to their respective book keepers is four and a half percent, and that only the losers pay the vigorish are quite sadly mistaken.

In reality, the losers do not pay anything; it is actually the winners who have to pay the vigorish and that too at a rate that is higher than the quoted 4.55%. That situation only arises where the winner wins half the bets he has placed. The percentage of vigorish paid rises with the level of the winnings, where sometimes its almost a 9.1% if the bet was at risk of 11 to 10.  As stated,

 The 0-100 loser would have played for ‘free’ while the 100-0 winner would have paid more than 9 percent in vigorish. Notice also that even though the bookmaker’s commission is 4.55 percent, it is only the bettor who wins exactly half his bets who pays precisely 4.55 percent in vigorish. Everybody else pays something different. In order to break even you must win 53 percent of your bets – assuming the sizes of all your bets are exactly the same – and in order to win 53 percent of your bets, you must pay 4.82 percent in vigorish. Successful sports bettors who win more than 55 percent of their 11-10 bets typically pay more than 5 percent in vigorish. (J.R. Miller, “A Crash Course in Vigorish”) 

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