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Vigorish is a word used by gamblers to indicate an edge. If you bet with a bookie, you need to pay slightly more when you lose than you get when you win. This extra amount is the vigorish, or vig, and it is the edge that allows the bookmaker to make money for his service.
First-in vigorish refers to the edge a poker player gets by being the first to put extra chips into the pot. Let’s say you are in middle position in a tournament with 9sTs. The blinds are 25 and 50 and it is folded around to you. You like to play these suited connectors. You could just call and hope to hit an interesting flop. In fact, if a number of players had limped in before you, this might be a more tempting play. However, what if you raise here? Now, all the players after you have a harder decision. They cannot just limp and see what happens; they must put in extra money. Furthermore, they have to consider that you may have a stronger hand than they would have put you on if you just limped in. The player after you folds, and the players after that, seeing great risk and little gain, fold and concede you the pot. Alternatively, you may get called and hit your flop, or miss it and win with a continuation bet if others miss it as well.
This idea, that simply by being the first one to raise the pot you give yourself more opportunities to win that pot than someone who limps in, is what is called first in vigorish or sometimes “fold equity.” It means that your expected value of the hand is higher than others because you have two ways to win (you hit your hand or your opponents fold) whereas everyone else has only one way to win. Of course, this is not always the case. Someone may re-raise you and put you to a difficult decision, but more often, opponents will either fold or just call to see what you will do next.
You can use first-in vigorish whenever you have the opportunity to be the first one to bet, whether it is before or after the flop. This is a nice way you can turn position around. Normally it is better to be in late position, as you have more information than others. Using the first-in vigorish concept, you can be the first one to bet into a scary board and others will have to fold to you. This idea can prove very positive for your results if used properly.
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