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Vigorish for Dummies

noun

pronunciation: 'vɪɡərɪʃ

What does Vigorish really mean?

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Hey there! I'm here to explain the word "vigorish" to you in a way that is easy to understand. So, let's dive right in!

Now, have you ever heard of the word "interest"? It's kind of like when you borrow some money from someone, and then you have to give them a little bit extra money for the favor of borrowing it. Well, "vigorish" is a similar concept, but instead of money, it's used in the context of gambling or betting.

Imagine you and your friend are playing a game of cards, and you decide to place a bet. The amount of money you put in is called the "stake." But here's the twist – the casino or the person facilitating the bet also wants to make some money from your bet. So, in addition to your stake, you have to pay a certain percentage or fee on top of it. That extra fee is called "vigorish."

Now, let's break it down a bit more. Suppose you bet $10 on the game, and the vigorish is 10%. That means you have to pay an additional $1 as vigorish. So when you win, you'll get your $10 back, plus an extra $9 (excluding the vigorish), making it a total of $19. But if you lose, you'll lose the $10 stake and the $1 vigorish, so you'll be left with $0.

In a broader sense, "vigorish" can also refer to the commission or fee that bookmakers charge for accepting your bets. Bookmakers are like the middlemen in betting who help match bets between different people. They charge vigorish to make sure they make money regardless of the outcome of the bets.

To sum it up, "vigorish" is an extra fee or commission charged by casinos or bookmakers when you place a bet. It's their way of making sure they make money, even if you win or lose the bet. Just like when you borrow money from someone and have to pay a little extra as interest, in gambling, that little extra fee is called "vigorish" or "vig" for short.

I hope this explanation helped you understand the meaning of "vigorish" better! Feel free to ask any more questions if you have them.

Revised and Fact checked by Emma Williams on 2023-10-29 23:16:26

Vigorish In a sentece

Learn how to use Vigorish inside a sentece

  • When you borrow money from the bank, they may charge you a percentage of the loan amount as vigorish, which means you have to pay back more than you borrowed.
  • If you buy something using your credit card but don't pay off the full amount by the due date, the credit card company will add vigorish to the remaining balance, making it more expensive for you to pay it off.
  • Let's say you lend your friend $10, and they promise to give you $12 in return. The extra $2 that they give you is the vigorish, which is like a fee for borrowing your money.
  • When you play a card game like poker and the casino takes a small percentage of each bet as a fee, that's the vigorish. It's how the casino makes money from the players.
  • If you invest money in a high-risk business, the person who manages the investment may take part of the profits as vigorish, as compensation for their work and expertise.

Vigorish Synonyms

Words that can be interchanged for the original word in the same context.

Vigorish Hypernyms

Words that are more generic than the original word.