No-Vig Calculator: Fair Odds Without the Juice
No-vig, or fair, odds are the odds a market would show with the sportsbook's margin removed, so the probabilities add to exactly 100%. The simplest way is to divide each implied probability by their total. The result is an estimate of the true chances, not a certainty.
Key facts
- Fair probabilities sum to 100%; market implied probabilities sum to more because of the overround (Wikipedia, Overround).
- Proportional (multiplicative) normalization divides each implied probability by their sum.
- Equal-margin normalization subtracts the overround divided by the number of outcomes from each probability.
A sportsbook's prices carry a margin, so the implied probabilities add to more than 100%. If you remove it, what's left is a cleaner picture of what the market thinks. That picture is the usual starting point for judging whether a price elsewhere is good. It runs in your browser, sends nothing anywhere and forgets your numbers when you close the page.
No-vig fair odds calculator
Turn on JavaScript to use the calculator. The worked example below shows the same math by hand.
What you enter and what you get
You enter
- Odds, outcome 1: American, decimal or fractional.
- Odds, outcome 2: American, decimal or fractional odds.
- Odds, outcome 3 (optional): For three-way markets.
You get
- Fair chance, outcome 1
- Outcome 1: fair chance (proportional)
- Outcome 1: fair chance (equal margin)
- Outcome 2: fair chance (proportional)
- Outcome 2: fair chance (equal margin)
- Hold removed
How the calculator works
- Convert each outcome's odds to an implied probability and add them up.
- Proportional method: divide each implied probability by the total.
- Equal-margin method: subtract an equal share of the overround from each.
- Convert the fair probabilities back to odds. Comparing the two methods shows how uncertain the answer is.
A worked example
A two-way market priced -150 and +130.
| Item | Result |
|---|---|
| Fair chance, outcome 1 | 57.98% |
| Outcome 1: fair chance (proportional) | 57.98% · fair odds -138 |
| Outcome 1: fair chance (equal margin) | 58.26% · fair odds -140 |
| Outcome 2: fair chance (proportional) | 42.02% · fair odds +138 |
| Outcome 2: fair chance (equal margin) | 41.74% · fair odds +140 |
| Hold removed | 3.36% |
What the calculator leaves out
- Both methods assume the margin is spread in a simple way. Books often shade the favorite or the longshot more.
- They show the market's view, which can be wrong.
- A market with a very large margin gives a very noisy fair price.
How we checked it
Before it went on the page we checked it against two cases worked by hand: -110 on both sides has to come out 50/50, and a -150 and +130 pair has to match the proportional method calculated separately. The calculator is also run against thousands of odd entries such as blanks, zeros and huge numbers, so a bad entry shows a plain prompt and never a wrong number. The worked example above comes from the same code the calculator runs.
At a sweepstakes sportsbook
The same removal works on prices at a sweepstakes sportsbook. Because such sites can price differently from regulated sportsbooks, comparing the fair odds you get from each can show whether a price is out of line. How we make our guides describes how we treat estimates.
Betting math is not betting advice. Only play with money you can afford to lose, and if gambling stops being fun, call or text 1-800-GAMBLER.
Frequently asked questions
Which method should I use?
Proportional is the common default. Equal-margin gives a different split on longshots, so compare the two and treat the gap as uncertainty.
Are no-vig odds the true odds?
No. They are the market's estimate with the margin removed.
Why do the two methods disagree on longshots?
They spread the margin differently: proportionally moves longshots less in percentage terms, equal-margin moves them more.
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Sign up freeSources
- Overround, Wikipedia (read 2026-10-05)
- Implied probability, Wikipedia (read 2026-10-05)
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