Vig (overround, juice)
Vig (overround, juice) — the bookmaker's built-in margin, visible as implied probabilities summing above 100%.
Every price is shaded so the book profits regardless of outcome. A three-way market priced 2.10 / 3.40 / 3.90 implies 47.62% + 29.41% + 25.64% = 102.67%: the vig is 2.67 percentage points.
overround = Σ (1 / decimal odds) − 1Why it matters: the margin is subtracted from every bettor before skill enters. It sets the bar a model must clear simply to break even.
Common mistake: assuming margin is spread evenly. Bookmakers load it disproportionately onto longshots, which is why the choice of de-vig method changes verdicts on long prices.
Related
Check any of this against our record
Every signal CONSENSUS publishes carries the bookmaker odds fixed before the event starts and the settled result afterwards — including the drawdowns and the losing runs. The running total is on the front page and every entry is in the log.