No-Vig Odds Calculator
Remove the operator margin to compute fair, vig-free prices and probabilities.
How to Use This Calculator
- Set the odds format: Decimal, Fractional, or American
- Input the bookmaker’s odds for every outcome in the event
- Add or remove outcomes to match the market
- Read the fair odds (vig stripped out), the fair probabilities, and the bookmaker’s overround
The overround quantifies the surplus probability the bookmaker has loaded in as 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 are vig and juice?
Vig (vigorish), also called juice, is the bookmaker’s embedded margin. It secures a profit for the bookmaker irrespective of the result and equals the difference between the summed implied probabilities and 100%.
How are fair odds defined?
Fair odds are the prices that would apply with the bookmaker’s margin set to zero. They reflect the true market-implied probability of each outcome.
What level of vig is typical?
Sharp bookmakers generally run a 2-3% overround, whereas recreational bookmakers can sit at 5-7% or higher. A lower vig translates to better odds for the bettor.