Bookmaker Margin (Overround)

The bookmaker margin (also called overround, juice, or vig) is the percentage by which the total implied probabilities of all outcomes in an event exceed 100%. It represents the bookmaker's theoretical profit. For a coin toss, fair odds would be 2.00 on each side (50% + 50% = 100%). A bookmaker might offer 1.91 each side (52.4% + 52.4% = 104.8%), giving a 4.8% margin. Lower margins mean better value for bettors. Typical margins: top-tier football 2-5%, minor leagues 6-10%, niche sports 8-15%. South African bettors should compare odds across multiple sportsbooks to find the lowest margins.