No-Vig Calculator
Odds Format
Method
Kelly Multiplier
Devigging Odds #1
Devigging Odds #2
Final Odds
$
How to Use our No-Vig Fair Odds Calculator
This essential tool helps you determine "fair" odds by removing the built-in margin, or "vig" that sportsbooks apply to their odds. Whether you're a novice bettor or a seasoned sharp, understanding how to calculate no-vig odds can significantly enhance your betting strategy.
What is the Vig?
Vig, also known as "juice" or the "house edge," is the bookmaker's commission on each wager. For example, if the moneyline for a game between Team A and Team B is set at -110 for both sides, bettors need to wager $110 to win $100. If one bettor wins, they receive $100 in profit, while the sportsbook collects $110 from the losing bettor, netting a $10 profit.
Why Use a Devigging Calculator?
When you remove the vig, you uncover the true implied probabilities, which can highlight opportunities for value bets. For instance, if the odds for Team A are -180 and for Team B are +155, the vig is included. By using an odds converter, these odds translate to implied win probabilities of 64.3% for Team A and 39.2% for Team B, totaling 103.5% due to the vig. Our no-vig calculator will adjust these probabilities to add up to 100%, revealing the fair odds.
By calculating the no-vig odds, you can identify when a bet offers positive expected value, which means it is mathematically profitable over the long run.
How to Use the Bet Hero No-Vig Calculator
1. Select the devigging method: We recommend using “Worst Case”.
2. Select the Kelly Multiplier: We recommend adjusting it to no more than 0.5.
3. Input the devigging odds: Enter the odds for both sides of the bet.
4. Enter the bookmaker's odds: Input the odds provided by your sportsbook.
Devigging Methods
Multiplicative
The vig is distributed proportionally among each outcome, meaning outcomes with higher implied probabilities (lower odds) receive a larger portion of the vig. This approach is popular because of its mathematical simplicity and is widely regarded as the standard method for removing the vig. However, this method can be problematic as it does not account for the common tendency of bettors, including experienced ones, to overbet on long shots and underbet on favorites.
Additive
The vig is divided equally among all outcomes. While this method accounts for the tendency to overbet on long shots, it can occasionally overcompensate for this bias, leading to negative probabilities for underdogs.
Power
This method is an enhancement that adjusts implied probabilities by raising them to a fixed power value. This process helps ensure that the de-vigged probabilities stay within the valid range of 0 to 1, thus preventing any infeasibilities. However, one potential drawback of the Power method is that it may excessively adjust probabilities for longshot outcomes while inadequately adjusting those for mid-range odds.
Worst Case
This will combine all previous methods and use the one with the lowest implied probability.