Canadianfella is correct. "Vig" is not the correct term. Vig, short for vigorish, is a yiddish/Slavic word used to describe the excessive interest on a loan fro

Canadianfella is correct. "Vig" is not the correct term. Vig, short for vigorish, is a yiddish/Slavic word used to describe the excessive interest on a loan from a lender of ill-repute. It's also used to describe the house's take of a book. It's not just money you pay to shady people. If he charged you $5 for parking, but allowed you to pay when you came back, but it would be $10 instead, you could say the additional $5 was the vig as that represents a 100% interest on a short term loan.