| Outcome | Odds | Implied | Fair odds | Fair | Vig in price |
|---|---|---|---|---|---|
| Side AYour bet | −110 | 52.38% | +100 | 50.00% | +2.38 |
| Side B | −110 | 52.38% | +100 | 50.00% | +2.38 |
Implied is the chance the price alone says; fair is that chance with the vig taken out. Vig in price is the points of probability the book added.
| Outcome | Book pays | Fair pays | Vig costs |
|---|---|---|---|
| Side A | $90.91 | $100.00 | $9.09 |
| Side B | $90.91 | $100.00 | $9.09 |
Implied probability
The chance a price says something will happen: 1 ÷ the decimal odds. +150 is 40%, −110 is 52.38%. Bet only when you think it wins more often than that.
What vig is
The book's cut, built into the odds. Turn each price into a probability and they add up to more than 100%: −110 on both sides is 52.38% each, 104.76% in all.
Taking it out
Divide each probability by the total so they add to 100%. At −110 / −110 that gives 50% each, or +100. The book keeps 4.55% of everything bet on a balanced market.
Using fair odds
They're the market's best guess with the cut removed. If you rate a side above its fair chance, and the price beats your own fair price, it's worth a bet.
Using the no-vig calculator
Find the fair price of a bet by taking the sportsbook's cut out of the odds. It shows each outcome's implied and no-vig probability, the hold, and whether a price beats your own estimate.
- 1Choose the odds format and enter the price of every outcome in the market (both sides, or all three in soccer).
- 2Read the fair odds and probabilities with the vig removed, and how much the book holds.
- 3Optionally enter your own chance for an outcome to see if the price is worth betting.
Questions bettors ask
What is the vig?
The vig (or juice) is the sportsbook's cut, built into the odds. Add up every outcome's implied probability and you get more than 100%: −110 on both sides is 52.38% each, 104.76% in all. The extra 4.76% is the overround.
How do you calculate no-vig odds?
Divide each outcome's implied probability by the market total. At −150 / +130 the implied chances are 60.00% and 43.48%, 103.48% in all; divided by 1.0348 they become 57.98% and 42.02%, fair odds of about −138 and +138.
How much vig is normal?
A standard −110 / −110 line holds 4.55% of the money bet. Sharp and reduced-juice books go lower, around 2 to 3%; props, futures and parlays often hold far more.
How do I use fair odds to find a bet?
Fair odds are the market's best guess with the cut removed. If another book offers a better price than the fair one, or you rate a side above its fair chance, the bet has positive expected value.