At the races, when you are shouting yourself hoarse to get a horse to win, there's another screeching for an identical horse to loose. All the while, the bookie is relaxing with a beer (unless he placed a bet too). The bookie is relying on their own difference between your bet and also the laying bet of the other fellow which praying for your bet to lose. The difference between your book as well as the other fellow's bet will be the bookie's commission or the Vig. This is…