The additional $10 charge in such an example can be referred to as the juice. So if they were the ones offering you the above coin toss wager, you’d find that instead of risking $100 to win $100, a sportsbook would make you risk $110 to win $100, even though the probability of the coin landing on either heads or tails hasn’t changed from the initial 50/50 chance. Sportsbooks, however, have to include their cut so that they can profit from this exchange this means that whether you win or lose your bet, the book still makes money. So if you bet your friend that the coin will land on heads, you stand to win $100, a simple, fair exchange. Take this simple example: If your friend were to offer you a bet on a coin toss, they’d give you odds reflective of the probability, i.e., a 50/50 chance of the coin landing on either heads or tails. When they offer odds to you, they never give you the true odds of an event. To understand juice, you need to understand sportsbooks operate in sly ways.
