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WAGERBIRD® Alpha Academy · SMT 100 First Principles · Part I: The Structure of Sports Markets
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Lesson 04

The vig

Add up both sides of a sportsbook price and you get more than 100%. The extra is the book's fee. Strip it out and what is left is the fair chance of each side.

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SMT 100 · Part I: The Structure of Sports Markets (12 lessons)Full course syllabus ↗
  1. 01Three markets, side by sideRead ↗
  2. 02The sportsbook and its wager slipRead ↗
  3. 03Odds formats and probabilityRead ↗
  4. 04The vigRead ↗
  5. 05Spread, total, moneylineRead ↗
  6. 06Props and parlaysRead ↗
  7. 07The prediction market contractRead ↗
  8. 08Orders and selling earlyRead ↗
  9. 09The pick'em entryRead ↗
  10. 10Limits and exitsRead ↗
  11. 11Who regulates whatRead ↗
  12. 12Opening and running accountsRead ↗