Follow the Money
Gambler #1 goes to a casino and loses a $110 bet trying to win $100.
Gambler #2 goes to the same casino the next day, also risks $110 to win $100. But Gambler #2 wins his bet.
Now the casino has to pay him off.
So what do they do?
They give him $100 from the $110 they won yesterday and are left showing a $10 profit.
If you were literally tracking the bills, you'd see that $10 came yesterday from Gambler #1.
The loser.
One more example:
Two guys want to bet on the Super Bowl. They each want to win 100 dollars. They each go to a bookie and give him 100 dollars to hold. After the game the bookie gives the winner the 200. Then the bookie makes a phone call to the loser. And says "YOU OWE ME 10 BUCKS!"
Who pays the vig? Again, the loser.
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