The following definitions should help make things a bit clearer.
So in other words, the vig in a typical American football wager is the opposite of the vig in a European roulette bet. Broadly speaking, vig refers to a betting counterparty’s share of the wagers placed alongside an initial bet. The word ‘vig’ has become so interwoven in the language of betting that it’s now difficult to define, especially since it can mean different things to different people. When someone refers to “vig” in betting, what image springs to mind? Is it a gambler, a gangster, or a sports enthusiast?
