No-Vig Betting Tool
Remove the bookmaker's margin to establish fair, vig-free prices and probabilities.
How to Use This Calculator
- Choose the odds format you wish to use (Decimal, Fractional, or American)
- Enter the bookmaker’s odds for every outcome in the event
- Add or remove outcomes as the market requires
- Review the fair odds stripped of vig, the fair probabilities, and the bookmaker’s overround
The overround reveals how much additional probability the bookmaker has folded in as their margin.
Formula
Step-by-step process:
- Convert all odds to implied probabilities
- Sum the probabilities (will exceed 100%)
- Divide each probability by the total to get fair probabilities
- Convert fair probabilities back to odds
Overround (Vig) = Total Implied Probability - 100%
Frequently Asked Questions
What do the vig and juice refer to?
The vig, short for vigorish, and equally the juice, is the margin built into the bookmaker’s prices. It guarantees the bookmaker a profit whatever the result, and it equals the difference between the total implied probabilities and 100%.
What are fair odds?
Fair odds are the prices that would apply if the bookmaker operated with no margin whatsoever. They reflect the true probabilities of each outcome as implied by the market.
What level of vig is typical?
Sharp bookmakers generally run an overround of 2-3%, whereas recreational books may carry 5-7% or higher. The lower the vig, the better the odds available to the bettor.