No-Vig Odds: What They Are, Why They Matter, and How to Calculate Them

What are “no-vig” odds?

Sportsbooks build a margin into their lines (the vig, juice, or overround). No-vig odds are the “fair” prices after removing that margin. Converting to no-vig lets you:

Compare lines across books on a level playing field
Estimate true probabilities for EV (expected value)
Size stakes with Kelly more accurately
Price your own models without bookmaker bias

Quick win: Paste any two-way (or three-way) market into our No-Vig Odds Calculator and get fair probabilities and fair odds instantly.

The core idea (in one minute)

Step 1 — Convert each offered price to implied probability.
Decimal odds → probability:

p=\frac{1}{\text{decimal}}

American odds → probability:
If +A:

p=\frac{100}{A+100}

If −A:

p=\frac{A}{A+100}

The probabilities will sum to more than 100% (because of vig). That sum is the overround.

Step 2 — Normalize by dividing each probability by the total:

p_i^{\text{novig}}=\frac{p_i}{\sum_j p_j}

The normalized set now sums to 100% — that’s your no-vig (fair) distribution.

Step 3 — Convert back to odds if you like:
Fair decimal:

{odds}=\frac{1}{p^{\text{novig}}}

Use our Odds Converter to flip between American, Decimal, Fractional.

Worked examples

Example 1 — Two-way market (American odds)

Suppose a moneyline market shows:

Team A: −120
Team B: +110

Step 1 — Implied probabilities

p_A = \frac{120}{120+100} = 0.5455 (54.55\%)

p_B = \frac{100}{110+100} = 0.4762 (47.62\%)

Step 2 — Overround

0.5455+0.4762=1.0217 → 102.17\% (2.17\% vig)

Step 3 — No-vig probabilities

p_A^{nv} = 0.5455 / 1.0217 = 0.5343 (53.43\%)

p_B^{nv} = 0.4762 / 1.0217 = 0.466 (46.60\%)

Step 4 — Fair odds (decimal)
A: 1 / 0.5343 = 1.872

B: 1/0.4660=2.146

Use the Odds Converter if you need them in American format.

Example 2 — Three-way market (soccer 1X2, decimal odds)

Offered prices:

Home 2.40, Draw 3.20, Away 3.00

Step 1 — Implied probabilities

Home: 1/2.40=0.4167
Draw: 1/3.20=0.3125
Away: 1/3.00=0.3333

Step 2 — Overround

1.06250.4167+0.3125+0.3333=1.0625 → 106.25%

Step 3 — No-vig probabilities

Home: 0.4167/1.0625=0.3922 (39.22%)
Draw: 0.3125/1.0625=0.2941 (29.41%)
Away: 0.3333/1.0625=0.3137 (31.37%)

Step 4 — Fair odds (decimal)

Home 2.55, Draw 3.40, Away 3.19

Paste your numbers into the No-Vig Calculator to skip the math:

Why no-vig odds matter for EV and staking

Once you have fair probabilities, you can compute Expected Value (EV) for any offered price O:

{EV} = p^{nv} \cdot (O - 1) - (1 - p^{nv})

Positive EV suggests a +EV bet given your fair probabilities.
Feed probabilities and edge into our EV Calculator.
For bankroll sizing, use Kelly with your edge and price.

Two common de-vig methods (and what we use)

Proportional normalization (recommended most of the time):
Divide each implied probability by the total overround (as shown above). Simple, transparent, works for 2-way and 3-way.
Additive / margin-split approaches:
Attempt to allocate the margin unevenly (e.g., toward favorites) when you have reason to believe the book skews the vig. Useful for sharp markets with asymmetric pricing.

Our calculator uses proportional normalization by default (fast, robust), with smart handling for both two-way and three-way markets.

FAQ: No-Vig Odds

Is “no-vig” the same as “fair odds”?
Yes. “No-vig,” “de-juiced,” and “fair” describe odds after removing the bookmaker’s margin.

Does removing vig guarantee profit?
No. No-vig odds are a baseline. Profit depends on finding offered odds better than fair (i.e., positive EV), execution, and bankroll management.

Do I need American or Decimal inputs?
Either. Convert with our Odds Converter or paste directly if your format is supported.

Can I use no-vig for player props and totals?
Absolutely — any market where you can compute implied probabilities can be de-juiced.