Our no vig calculator shows you the fair odds and probabilities for your bets, by removing the ‘vig’ or ‘juice’ added by all sportsbooks.
The odds that you see at a sportsbook have been manipulated, so they don’t actually show you the
real
implied probability of an outcome. Sportsbooks alter them slightly to add a commission - the vig - to protect their profits, regardless of the outcome.
Can you imagine if there was an online tool that showed you exactly what markup the supermarkets are adding to your groceries? Or a calculator that showed you exactly how much commission the second-hand car salesman stands to get when you buy a car from him?
Sadly, such tools don’t exist to help us as consumers in such instances. However, they do in the world of betting…
How it works to find you a fair price
Our no vig calculator is designed to show you the
actual
odds for the bet that you want to place. As we explained above, even the
best sports betting sites
manipulate the odds in their favor to protect their profits.
There is absolutely nothing sinister about this, it’s just that sportsbooks are legitimate businesses that need to turn a profit. The vig, or juice that they add on top of the real odds is their way of doing this, regardless of how the event turns out in the end.
To use this calculator, you need to enter the odds for both sides of the outcome - each team to win a game on the moneyline is one such example. Once you have done that, the calculator will give you two figures for each outcome:
The
no vig odds:
The real odds without the sportsbook’s commission added.
The
no vig
implied probability:
The realistic implied probability of each outcome happening, shown as a percentage. These two “real” percentages will always add up to 100% total. On the other hand, if you add the two implied probability percentages of vig or juiced odds, you will always get more than 100%, which then shows you how much the odds have been adjusted.
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Step by step guide:
Here are the quick and easy steps needed to use this calculator:
Search for your desired betting market on one or more online sportsbooks
Enter the odds from each outcome into the boxes provided in the calculator
The no vig fair odds and implied probability will be shown automatically
Use this information to determine the real value of the bet
Example - the
no vig calculator
in action
Now let’s take a look at how to use this tool with a real-life example. To keep things easy, we’ve used the moneyline for Orlando Magic vs. Charlotte Hornets in the NBA. The odds have been taken from DraftKings.
First of all, here are the real odds:
Moneyline
Orlando Magic:
-345
Charlotte Hornets:
+275
Here’s how the calculator displays the fair odds and implied probability:
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No vig odds explained
There is not a sportsbook on the planet that doesn’t alter the odds slightly in their favor on each outcome. If they didn’t do this, they would effectively be gambling just like us, which isn’t their job as a business.
While this is necessary and understandable, it does mean that the odds and probabilities are skewed. Calculating the fair odds without the sportsbook commission lets you see the true odds so that you can make wiser and better-informed sports betting decisions.
How to calculate the vig
What our no vig calculator does is show you the fair odds without the vig. However, it’s also important to know how much juice the sportsbook is adding to make sure that you are not getting ripped off.
The average vig taken on sportsbook events in the US is 4.77%. Therefore, generally speaking, anything below 5% can be considered fair, depending on the sport, betting line, and market activity.
To calculate the vig, simply convert the odds into a percentage, add them together then subtract 100%. Here’s how to do it based on the example above:
77.53% + 26.67% = 104.2%
104.2% - 100% = 4.2% vig
How does the
no vig calculator
work for events with more than two outcomes?
The basic example that we have used above is a straightforward moneyline, with just two outcomes, which makes it easy to calculate. However, if you are looking at an event with more outcomes, although it’s more complex, the formula, method, and process all remain the same.
Here’s an example of us using it for a real 1x2 bet in Champions League soccer:
Outcomes
Vig odds
Vig probability
No vig odds
No vig probability
Bet 1 (Magic):
-125
55.56%
-110.33
52.45%
Bet 2 (Tie):
+285
25.97%
+307.86
24.52%
Bet3 (Napoli):
+310
24.39%
+334.28
23.03%
Why the
no vig odds calculator
is useful
Knowing the fair odds and realistic probability of each outcome winning can be useful to you in many ways. We have summarized the top five benefits of using our no vig calculator for you below:
It tells you the truth
First and foremost, the no vig odds show you the unskewed reality. This can help you on multiple fronts which we will cover in some of the points below.
Compare market prices
You can use this calculator to compare the odds for the same market on multiple different sportsbooks. Ultimately, you can determine which sportsbook is giving you the best price for each outcome.
Determine the bet’s EV (Expected value)
As well as the fair odds, you also get to see the implied probability for each outcome. This is a figure that is essential in the EV formula which can help you with your wagers.
It aids better decision-making
Knowing the combination of fair odds and winning probabilities can help you to make better decisions. For instance, if the win probability is higher and the odds are shorter than you first thought, there is very little value in the bet. Similarly, a smaller probability percentage shows that a longshot bet might be worth avoiding.
Know which sportsbooks to avoid
If when using this calculator you discover that a certain sportsbook is consistently taking a high vig, you know you’re better off avoiding it. As we said before, the
best NFL sportsbooks
should never juice the odds more than 5%.
What other betting calculators are available
The no vig calculator isn’t the only tool like this that we have to offer you. In total, we have over 15 different betting calculators to help enhance your overall online gambling experience here at PromoGuy.
If you’re just starting out, then our moneyline, odds, and returns calculators are all essential for beginner bettors. For the more advanced users, we have betting strategy calculators for arbitrage, Dutching, hedging, and more.
You can explore and test out all of our betting calculators below to see which ones will suit your betting style:
All of our free betting calculators at the PromoGuy
Conclusion - Give our
fair odds calculator
a try today
In summary, the no vig calculator is designed to tell you the truth, by letting you know the fair odds without the sportsbook's profit margin being added. From this you can determine if the sportsbook is giving you a decent price, and you can also use this tool to assess the implied possibility of all possible outcomes.
Ultimately, this can help you to make wiser and better-informed betting decisions. Moreover, it continues our mission of helping you to enhance your sports betting experience as much as possible.
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No vig calculator
FAQ
❓ What are no vig odds?
No vig or “fair” odds are the real odds without manipulation from the sportsbook. All betting sites alter the real odds slightly to add a “vig” which ensures a profit regardless of how the event turns out. Usually, this is between 4-5% on top of the fair odds.
👀 How do you calculate the betting vig?
To calculate the vig, you need to convert the odds on all outcomes into a percentage and then add them together. You then subtract 100% from that figure and you are left with the vig. You can use the no vig calculator at PromoGuy.us to find the fair odds and real implied probability for each outcome.
🔎 What is the vig on the points spread?
Usually, the points spread will open at -110 on both outcomes, which is 52.38% as the probability percentage. If you multiply that by two and subtract 100%, you are left with 4.76%, which is the vig. The no vig or “fair” odds on the points spread would be -100.
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4.6/5
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