What is vig and hold

How much is the sportsbook charging you?

The vig is the sportsbook's margin. On the standard -110 both ways, the two prices imply probabilities summing above 100%, and the surplus is what the book keeps.

Hold is what that surplus is worth as a fraction of the money bet, and it is not the same number. A market whose implied probabilities sum to 1.0476 holds 4.55%, not 4.76% — the book's take is measured against the pool, not against the excess. Plenty of calculators report the excess and overstate every book's margin.

Why it matters: hold is the cost of doing business at that book, and it compounds. A market you can bet at 2% hold instead of 4.5% hands back more than most people's claimed edge. Measure a book →