No Vig Fair Odds Calculator

Odds Format:

Team A Odds:

Team B Odds:

Team C / Draw Odds (optional):

Include third option (Draw or Team C)

When betting on sports or any event, bookmakers add a margin (called the vig or overround) to ensure they profit no matter the outcome. This margin distorts the true probabilities and odds, making it difficult for bettors to identify fair value.

Our No Vig Fair Odds Calculator helps you remove this bookmaker’s margin to reveal the true or “fair” odds — so you can better evaluate bets, spot value opportunities, and make smarter decisions.

What is Vig (Bookmaker’s Margin)?

The vig is a built-in bookmaker fee that guarantees their profit regardless of the event outcome. It inflates the odds slightly in their favor, which means the sum of implied probabilities exceeds 100%. This calculator finds the margin and adjusts odds accordingly.

How to Use the No Vig Fair Odds Calculator

Step 1: Choose Your Odds Format

American odds (e.g., -110, +150) — common in the US
Decimal odds (e.g., 1.91, 2.50) — common internationally

Step 2: Enter the Odds for Each Team or Outcome

Input the odds for Team A and Team B.
Optionally, check “Include third option” for draws or a third competitor, then input those odds.

Step 3: Click Calculate

The calculator will:

Calculate the bookmaker’s margin (vig) percentage.
Convert odds to implied probabilities.
Remove the vig to calculate the true probabilities and fair odds.
Display the adjusted no-vig odds and probabilities for all options.

Step 4: Interpret the Results

Bookmaker’s Margin (Vig): Shows how much margin the bookmaker has built in.
Fair Odds: The true odds after removing the vig.
Implied Probability: The true probability percentages that sum to 100%.

Example

Suppose you have a football match with:

Team A odds: -110 (American)
Team B odds: -110 (American)
Draw odds: +240 (American)

After inputting these and calculating, the tool might show:

Vig: 5.26% (bookmaker’s margin)
Fair odds for Team A: -116
Fair odds for Team B: -116
Fair odds for Draw: +226
Implied probabilities sum to 100%, reflecting fair chances

Why Use This Calculator?

Identify True Value: See if a bet offers value beyond bookmaker’s margin.
Better Decision Making: Understand real odds and probabilities.
Useful for Arbitrage: Helps find arbitrage opportunities by spotting differences in fair odds across bookmakers.
Supports Two or Three Outcomes: Perfect for most sports with wins, losses, and draws.

15 FAQs About No Vig Fair Odds

What does “No Vig” mean?
It means odds adjusted to remove the bookmaker’s built-in profit margin.
Why are fair odds different from listed odds?
Bookmakers adjust odds to ensure profit; fair odds reflect true probabilities without margin.
What is implied probability?
The likelihood of an outcome based on the odds.
How do American odds convert to decimal?
Positive odds: (odds/100) + 1; Negative odds: (100/|odds|) + 1.
Can this calculator handle draws?
Yes, by enabling the “Include third option” checkbox.
Why is vig important for bettors?
It affects your potential payout and expected value.
Can removing vig guarantee winning bets?
No, it only reveals true probabilities; luck and performance matter.
Are the odds always accurate after removing vig?
They are mathematically accurate but depend on initial bookmaker odds.
Why do total implied probabilities exceed 100%?
Because of the bookmaker’s margin.
What if my odds format is different?
This tool supports American and Decimal odds.
How to interpret fair odds in American format?
Positive means underdog payout, negative means favorite.
Can this help in matched betting?
Yes, by identifying fair odds and value bets.
Is this calculator suitable for all sports?
Yes, as long as you have odds for all outcomes.
How does the calculator handle multiple options?
It adjusts probabilities so their sum is 100%, removing vig.
Is this tool useful for casual bettors?
Absolutely! It provides clearer insight into betting odds.

Conclusion

Using the No Vig Fair Odds Calculator helps you see the true probabilities and fair odds behind bookmaker prices by removing the built-in margin (vig). This empowers bettors to make more informed decisions, spot value bets, and improve their overall betting strategy. Whether you use American or Decimal odds, with or without a third outcome like a draw, this tool simplifies the process of understanding fair betting odds.