In addition, all sports wagers have a vig which is generally 10% which means if someone wants to win $100 then they need to pay the vig or the juice which means they need to risk $110 to win $100. The good news is that gamblers always lose over the long term, which means that whatever the players’ losses will be money earned by the bookie. So whenever any of the bookies’ players make a wager he will always need the other team to win or cover the spread to make money. So when someone makes a wager on the New England Patriots against the New York Jets, then the bookie needs the opposite team to win or cover the spread for him to make money on that wager. Bookies are people who accept wagers at various sporting events.
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