Is “Vig” a Scrabble word?

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Yes
VIG
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Unavailable

Meaning of Vig

/vɪɡ/

noun
  1. 1.A charge taken on bets, as by a bookie or gambling establishment.

  2. 2.The interest on a loan of money, especially for loans made by a usurer or loan shark.

  3. 3.An amount owed on account of or payment of a bookie's charge or of interest.

Synonyms: cut, house advantage, house cut, house take, juice, overround