Best US Online Sportsbooks with Lowest Vig

What is Vig in Sports Betting?

Vig is a term also referred to as Vigorish in sports betting. It is like the sportsbook’s share for every bet players make on the platform. Each bet a player places on a sportsbook will have its actual odds and the odds set by the bookmaker. The difference between both odds is referred to as the vig.

To help you understand better, we will be using an example.

Presuming you make a wager at odds of -120, your return will be lower than the amount you initially wagered. For instance, if you wager $120 and win, you will receive your initial stake alongside a $100 profit. Ideally, you should have won back precisely double the amount you wagered as winnings, but the extra is what the sportsbook keeps as its share. This fee helps it make a profit and keep its operations going regardless of how the match ends.

How to Calculate Vig

If you want to see what the house edge is for yourself, you will first need to convert the American odds into decimal odds. This can be done by simply switching the format you see the odds in on your sportsbook. Alternatively, there are formulas to convert the minus and plus odds into decimal odds, which you can check out in our guide to minus and plus odds.

Once you have the decimal odds ready, you have to find out the probability of each bet, and then add them. The probability is a % of how likely the bet is to win. It is calculated using the following formula:

1 / Decimal Odds = Probability [%]

The sum of the probabilities on each bet will always end up over 100%. What remains after you subtract 100% is the vig.

The house edge usually ranges between 4-6%, but it can go much higher too. When you have bets that are not two-way or three-way but have 6 or more possible outcomes, you can expect much bigger vig.

Many wonder why there are many low vig sportsbooks in the US, and the answer is simple. Charging the lowest vig consistently will end up bankrupting the operator. And the way you can still benefit is to shop around for the best odds for the same event across several books. All the best lowest vig sportsbooks on this page are a great place to start.

What Does ‘Vigorish’ Mean?

Vigorish is a fee that the sportsbook takes for each bet. Every wager you place will have true odds and odds that have been set by the operator. The difference between the value of both is the vig.

Why is the Vig Important?

For the sportsbook, the vig is a cushion that ensures it makes a profit regardless of the match outcome. However, it still needs to ensure the odds are balanced so that players can bet on both teams. This will ensure it draws in enough bets to make the vig profitable for it.

In contrast, the vig for bettors is a way of determining the disadvantage of a specific wager. This is because the vig differs depending on the gambling site. Many casual bettors don’t care about this and are only worried about how much they win. But for experienced bettors, the vig is an integral part of the sportsbook that they need to factor into their wagers, especially if they want to make a long-term profit.

The hardest part is finding an online sportsbook with consistently low vig and solid bonus/odds boost. Usually, operators choose one of two ways to attract players. But you can find the best of both worlds on our listed lowest vig sportsbooks in the US.

Benefits of Low Vig Sportsbooks

The benefits of low vig in sportsbooks are centered around the profit you make when you wager. As a sports bettor, your goal is to get the best deal on sportsbooks when you win your bet. Here are some ways a sportsbook with low vig makes this happen:

You Lose Less

Regardless of how skilled or informed you are, you will eventually lose when wagering on a sportsbook. However, playing on a low vig sportsbook saves you some money on every bet you lose.

Let’s use an example. Say sportsbook A offers you odds of -110, which is the standard you will find in most sportsbooks. Here, you will need to wager $110, to win $100. But sportsbook B offers odds of -120, which means you will need to wager $120 to win $100.

The difference between both is $10, which may seem insignificant, but the little money saved up can significantly minimize your losses in the long run. For instance, if you make 20 ($110) bets at sportsbook A in our example above, you would have spent $2,200 to win $2000. However, the same bets in sportsbook B mean you would spend $2,400 to make the same $2,000.

This is one primary reason low Vig sportsbooks are essential. They can save you a significant amount of cash.

It Is Easier to Make A Profit

Since it is easier to reduce your losses, making a profit from an online sportsbook with low vig is easier. In most cases, you will need an average win of 54.2% to break even at odds of -110. The less you lose, the easier it is for you to achieve this and make a profit!

Higher Bet Limits

This is another fantastic benefit of betting on a low vig sports betting site. Most online gambling platforms tend to limit your bet amount to around $1,000 – $2000. However, low vig sportsbooks tend to offer higher prices to make up for their low vig. You can find limits of up to $10,000 or more in these sportsbooks. This aims to get players to make more bets, and it can be beneficial to you if you are a high roller.

Stay Away From Offshore Betting Sites With Low Vig

If you are a regular bettor, you will most likely have heard about offshore betting platforms. These are sportsbooks with a license from overseas offering their services to US players. Some of the common licenses you will find include those from Curacao, Costa Rica, and Panama.

In the US, sportsbooks that can operate legally need to partner with racetracks or casinos that have a physical location in that state. This way, the sportsbook will be able to share its license and have a badge from the respective state regulatory body.

Like the legal and licensed sportsbooks, these betting platforms also offer low vig to players. The goal is to get them to sign up to their betting platforms and bet with them. This is not necessarily a bad thing since most offshore sportsbooks promise a lot to players. However, it is important to be wary when dealing with these online betting sportsbooks because even though they may be great from a distance, a closer look will tell you that there is a range of drawbacks too. Here are some reasons you may want to stay away from them:

Problems with licensing and regulation

You may get a very low vig from an offshore sportsbook, but they don’t operate under the same strict guidelines as licensed betting platforms. This may become problematic if you have an issue with the sportsbook. Since the same strict bodies do not regulate them, your safety is uncertain, as they could get away with most shady practices.

Voiding Bonuses

Some unlicensed sportsbooks may offer the best bonuses and a low vig to get an advantage in the competitive gambling market. However, unlike their licensed counterparts, they may have no intention of offering a payout when you win. Other times, they may even add unfavorable wagering requirements to frustrate you into losing the whole bonus.

High Minimum Withdrawals

You are most likely playing on a low vig sportsbook to save cash. However, unlicensed betting platforms may have a very high minimum for withdrawals. If you are a casual bettor, this could leave your cash stuck on the website for a long time.

Payment Delays

Most offshore sportsbooks are notorious for delaying payments. There is no one monitoring their activities, so they can easily get away with this. If you like fast payouts, this can be quickly frustrating.

No Support For Responsible Gaming

Licensed sportsbooks offer support for their players to ensure responsible gaming. They achieve this by allowing only adult users and providing support for those who have a gambling problem. This is something that is not available in many offshore gambling sites.

Playing in offshore sportsbooks with low vig like Bovada, BetAnySports, Pinnacle, and Heritage Sports may seem like a good choice, but it’s best to stick with properly licensed sites if you want a good low vig sportsbook that will payout your profits. You can check out our recommended lowest vig US sportsbooks for one that suits you.

Is the Vig Higher or Lower on Futures Wagers?

Bet type can determine the vig. The vig on a futures bet is typically higher when compared to standard bets. On a standard moneyline wager, the total implied probability is between 105% and 110%. However, a futures bet can reach up to 140%. One of the things that draws people towards futures bets is they come with a significant potential payout due to the high odds. There is no point searching for the best value when it comes to futures, just like parlays, they are a high risk, high reward type of wager.

Bottom Line

Vig may seem like a complex and unimportant term, especially if you are playing for the first time on a sportsbook. However, this concept simply tells you how much of your wager the betting site keeps. It is also crucial to determine how much profit you make on specific bets. If you want to get the best returns from your wager, you need to play on a low vig sportsbook.

We have compiled a list of the top 5 betting sites with low vig for bettors in the US. Regardless of the kind of sports event you are trying to wager on, ranging from NBA, or Soccer, down to eSports, you will indeed have the best experience with any of these platforms. All you need to do is pick one, sign up, make a deposit, and start playing one of the reliable online books listed on this page!

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