Vig?
 

I feel like I should know this, but I don't...

I know "vig" is used to refer to the "rake" on a tournament, but I have no idea what it stands for.

Is it an acronym (V.I.G.) or an abbeviation (Vig.) or just a word (vig)?

Re: Vig?
 

One entry found for vigorish.

Main Entry: vig·o·rish
Pronunciation: 'vi-g&-rish
Function: noun
Etymology: perhaps from Ukrainian vygrash or Russian vyigrysh winnings, profit
1 : a charge taken (as by a bookie or a gambling house) on bets; also : the degree of such a charge <a vigorish of five percent>
2 : interest paid to a moneylender

basically, the "vig" is any house edge in a game which need to be overcome in order to be profitable in the long run.