Vig is short for vigorish. In casino language, it means the fee, commission, or built-in price the house charges on certain wagers. In craps, players usually hear “vig” around buy bets and lay bets. The word is small, but it changes the real cost of the bet.
Plain Talk
A vig is the casino’s charge for booking a wager. Sometimes it is visible, like a commission collected on a Buy Bet or Lay Bet. Sometimes the price is hidden inside the payout odds, which is how many casino bets make money for the house.
The fuller canonical term is Vigorish. “Vig” is the shorter casino-floor word.
| Term | Plain-English meaning | Where it appears | Why it matters |
|---|---|---|---|
| Vig | Short word for the fee | Craps, sports betting, casino slang | Changes the real price |
| Vigorish | Formal version of vig | Rules, math, betting discussions | Explains the charge |
| Commission | Another fee word | Baccarat, buy/lay bets, some games | May be collected differently |
| House edge | Long-run casino advantage | All casino games | Broader math concept |
Where You See It
You see vig in craps when discussing buy bets and lay bets. A casino may charge commission before the bet resolves, after it wins, or under house-specific rules. That timing matters.
You may also hear vig in sports betting and gambling math. On ChipsAndTruths.com, this page focuses on craps and casino terminology. For the full craps flow, read Craps. For the broader math, read House Edge and Expected Loss.
Why It Matters
Vig matters because players often compare payouts without including the fee. A bet may look close to true odds until the commission is added. Once the vig is counted, the edge changes.
The Wizard of Odds craps basics pages are useful for comparing craps wagers by payout and house edge. Public casino rules such as the Venetian craps rules also show how specific craps bets and payouts are presented to players.
Example
A player makes a buy bet and pays a 5% vig. If the bet wins, the payout may look close to fair odds, but the fee reduces the real value. If the casino collects the vig upfront, the player pays even when the bet later loses. If the casino collects only on wins, the cost is different.
Same word. Different practical impact.
From the Casino Side:
From the casino side, vig is pricing. It is one way the casino turns a bet that may appear mathematically close to fair into a profitable product.
Staff also need to apply the vig consistently. The player may focus on the win, but the table crew must know the correct commission rule, whether the fee is collected upfront or on a win, and how the amount is rounded. Table-game procedures and controls are part of regulated operations, as shown in the Nevada Gaming Control Board Table Games MICS.
Common Misunderstanding
The biggest mistake is ignoring the vig because it feels separate from the bet. It is not separate. It is part of the price.
Another mistake is treating all vig rules as identical. The timing and rounding can change the real house edge.
Hard Truth
The vig is the part of the bet players like to mentally remove. The casino never removes it.
Related Terms
| Term | Difference | Best page to read next |
|---|---|---|
| Vigorish | Full term | Canonical continuation |
| Buy Bet | Craps bet often using vig | Practical example |
| Lay Bet | Betting against a number, often with vig | Practical example |
| House Edge | Broader long-run advantage | Main math concept |
| Expected Loss | Dollar cost estimate | Cost formula |
| Payout Odds | Posted payout language | Compare payout vs price |
FAQ
What does vig mean?
Vig means the fee, commission, or built-in price the casino charges on a wager.
Is vig the same as house edge?
Not exactly. Vig can create or contribute to house edge, but house edge is the broader long-run advantage of the casino.
Where do craps players see vig?
Mostly on buy bets and lay bets.
Does vig always get collected upfront?
No. Some rules collect upfront. Some collect only on winning bets. The timing depends on the casino and the bet.
Is vig always bad for the player?
It is a cost. Whether the overall bet is better or worse than another bet depends on the payout, probability, collection timing, and rounding.
Deeper Insight
Vig is important because it separates headline payout from real value. If a bet pays true odds but charges a commission, the commission becomes the casino’s advantage. If the bet already pays less than true odds, the house edge is already built into the payout.
Players should ask one practical question: “What am I paying in total to make this bet?” That includes the stake, commission, rounding, and how often the bet is repeated.
Formula / Calculation
| Metric | Formula | Plain-English meaning |
|---|---|---|
| Vig Amount | Bet Amount × Vig Rate | The fee charged on the bet |
| Total Cost | Stake + Vig Paid | The real amount exposed or spent |
| Expected Loss | Total Amount Wagered × House Edge | Long-run cost after pricing is considered |
Formula Explanation in Plain English
If a player bets $100 and pays a 5% vig, the fee is $5. That $5 matters whether the player thinks of it as part of the bet or not. When comparing bets, count the vig as part of the real price.
Related Reading
Use the Glossary for the term map, then read Vigorish, Buy Bet, Lay Bet, House Edge, Expected Value, Craps, and Casino Operations for the wider table-game view.