I've seen alot of mob films in my life and I still don't know what a "vig" is. Does it have to do with paying off your boss for example in Donnie Brasco, Sonny Red was wondering if Lefty Ruggero was going to make this weeks "vig".

The "vig", or vigorish, is the interest amount on a loan.

Vig, or juice as it is sometimes called, is the price you pay for a loan.

Example if you borrow $1000.00 you may be required to pay $100 vig, or juice on the principle per week until the loan is payed off.

People borrowing money this way can pay much more than the value of the loan before it is payed off.

However, they usually are not borroing the money for home improvemenmts.

I never heard of Vig before. In other words it's interest???


TIS

Usually when a person borrows from a "shark", the interest, or vig, or juice is due weekly, not monthly like a normal loan.

Vig is sometimes calculated in what is called points.

A point on a $10,000 loan is $100,, and is due weekly.

This does not reduce the principle it is the cost, or interest or the loan.

Also vig is what they call the money made at a sports book as well.

If a bookie knows what he doing, he can lay off half of his bets.
For instance say a bookie in NYC gets bets on the NY Yankees for the world series. Almost all his bets would be for the Yankees to win, and if they do he loses his shirt. But if he knew a bookie in Boston who had bets on the Sox, they could exchange the bets so each had 1/2 for one team and 1/2 the other.

Then, because it costs $110 to win $100, they each split, and make $10 for each $100 bet. That is also called vig. Multiply both by thousands and you have some big $$.

A loan shark, in most cases does not want his principle back, cause he can maker it up in vig real fast. Plus he is still owed the principle.

Yes, TIS, vig is short for vigorish. It is interest stacked onto the principal (the principal being the money owed in the first place).

Example: Joe Gambler goes to the local bookies, makes a bet at a card game. Loses. The guy now owes Don Bookie money. But Joe can't pay Don the money--'cause he simply doesn't have it.

Don introduces Joe to a good friend--Larry Loanshark. Loansharking goes hand-in-hand with gambling. Larry offers Joe money--hey, don't worry about it, it's my favour. Joe, of course, has to accept, as if he doesn't then he'll find Don Bookie paying him a visit. The trouble is, Larry charges interest--say, 10%. This is the "vig." Joe doesn't pay the first week. Fine. Larry tells him he'll get it next week. But the vig is added to the principal--Larry needs his interest, after all--and so the 10% of the new price is going to be higher than last week, so the money is going up each time. Basically, Joe is f***ed, and there's no way out of it for him.

Mick