No-Vig Fair Odds Calculator

What is No-Vig Fair Odds?

No-Vig Fair Odds represent the true odds of an event without the bookmaker's margin (vigorish). Bookmakers build a margin into their odds to ensure profit, but this margin distorts the true probabilities. Our No-Vig calculator removes this margin to reveal the fair odds that should be offered based on the true probability of outcomes.

Understanding Vigorish (Vig)

Vigorish is the bookmaker's built-in profit margin. When you see odds like 1.90/1.90 for a two-way bet, the bookmaker has added approximately 5% vig. This means the true fair odds should be around 2.00/2.00. Our calculator automatically detects and removes this margin to show you the fair odds.

How No-Vig Calculation Works

The process involves:

• Calculate Implied Probabilities: Convert bookmaker odds to implied probabilities
• Remove the Vig: Proportionally adjust probabilities to sum to 100%
• Convert Back to Odds: Transform the fair probabilities back into fair odds
• Show Vig Percentage: Display how much margin the bookmaker is taking

Benefits of Using No-Vig Fair Odds

• True Value Assessment: See the real probability of outcomes without bookmaker bias
• Better Betting Decisions: Compare fair odds with your own probability estimates
• Market Analysis: Understand how much margin different bookmakers are taking
• Arbitrage Opportunities: Identify when bookmaker odds deviate significantly from fair odds

Practical Applications

Use No-Vig Fair Odds to:

• Compare odds across different bookmakers to find the best value
• Assess whether a bookmaker's odds offer good value for your bets
• Identify potential arbitrage opportunities when odds deviate from fair value
• Make more informed betting decisions based on true probabilities

Combine this tool with our Surebet Calculator to find arbitrage opportunities, or use our Expected Value Calculator to assess betting value based on fair odds.