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No-vig odds calculator
Last reviewed August 2026
The calculator
Scales the implied probabilities so they sum to 1. The common default, and the one most sites mean by “no-vig”.
| Outcome | Odds | Implied | Fair prob. | Fair odds |
|---|---|---|---|---|
| Home | 2.10 | 47.62% | 46.38% | 2.156 |
| Draw | 3.40 | 29.41% | 28.65% | 3.491 |
| Away | 3.90 | 25.64% | 24.97% | 4.004 |
The fair odds column is the break-even price. A bookmaker offering more than that on the same outcome is a value bet — feed the two numbers into the expected value calculator to see by how much.
Why the margin has to come out
A decimal price converts to a probability by inverting it. Odds of 2.00 imply a 50% chance; odds of 4.00 imply 25%. Do that across a complete market and the total should be 100% — every possible result, adding to certainty.
It never is. Take a typical 1X2 market:
Draw 3.40 → 1/3.40 = 29.41%
Away 3.90 → 1/3.90 = 25.64%
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Total = 102.67% ← 2.67% overround
That extra 2.67% is the bookmaker's margin — the vig, or juice. It is why betting every outcome at one book loses money, and why a raw price is not a probability. Removing it proportionally gives fair probabilities of 46.38%, 28.65% and 24.97%, and fair odds of 2.156, 3.491 and 4.004.
The five methods
Proportional removal assumes the bookmaker applied the margin evenly. It usually did not: books load more margin onto longshots, because that is where recreational money goes. The alternatives below distribute the correction differently, and the calculator supports all of them.
| Method | What it assumes | Best for |
|---|---|---|
| Proportional | Margin is spread evenly across outcomes. | Near-even two-way markets. The common default. |
| Shin | Some money is informed; the book prices defensively against it. | Markets with a clear favourite. Well supported in the literature. |
| Power | Fair probability is implied probability raised to a common exponent. | Wide markets — long outrights, big underdogs. |
| Odds ratio | Fair and implied odds ratios differ by a constant factor. | A middle course between proportional and power. |
| Additive | Each outcome absorbs an equal absolute share of the overround. | Rarely the best fit; useful as a sanity bound. |
The differences are small on a balanced market and substantial on a lopsided one. On a 1.20 / 5.00 two-way market, proportional and Shin can disagree by more than a percentage point on the favourite — which is larger than most of the edges you would be betting on.
What to do with the answer
A fair price is a break-even price. Whether that is useful depends entirely on whoseodds you de-vigged: the method assumes the prices are an honest view of the event, which is true of a sharp book and not of a recreational one. De-vigging a soft bookmaker's own price and comparing it to that same bookmaker tells you nothing.
The sequence that does work:
- De-vig a sharp book's market — Pinnacle is the standard reference — to get fair odds.
- Compare those fair odds against what a softer book is offering on the same outcome, in the expected value calculator.
- If the soft price is higher, you have a value bet. Size it with the Kelly calculator.
That is exactly what GoldEdge automates — see the no-vig odds guide for the full treatment, or the live odds boardwhere the fair line already sits beside every book's price.
Frequently asked questions
What does no-vig mean?
No-vig (or de-vigged, or fair) odds are a bookmaker's prices with their built-in margin removed. Because a book prices every outcome slightly short, its implied probabilities add up to more than 100%; stripping that excess leaves an estimate of the true probability and the break-even price that goes with it.
How do you remove the vig from odds?
The simplest method is proportional: convert each price to an implied probability with 1/odds, add them up, then divide each one by that total so they sum to exactly 100%. The fair odds are 1 divided by the resulting probability. Other methods — Shin, power, odds-ratio — distribute the margin unevenly because bookmakers do not apply it evenly across favourites and longshots.
Which de-vig method is most accurate?
It depends on the market's shape. Proportional is fine for near-even two-way markets and is what most tools mean by no-vig. Where prices are spread widely — a heavy favourite against a longshot — proportional systematically overstates the longshot's chance, and Shin or the power method correct it better. GoldEdge uses proportional by default and supports the others.
Why are no-vig odds useful?
They turn a price into a probability estimate you can bet against. If a sharp bookmaker's fair price for an outcome is 2.156 and a softer book offers 2.30 on the same outcome, the second book is paying more than the outcome is worth — that difference is the entire basis of value betting.
Should I de-vig any bookmaker's odds?
Only a sharp one is worth de-vigging. The method assumes the prices are an accurate view of the event, and that assumption holds for a low-margin, high-limit book that welcomes winners — Pinnacle is the standard choice — and does not hold for a recreational book whose line is set to balance its own customers.
What is the overround?
The amount a market's implied probabilities exceed 100%. A 1X2 market at 2.10 / 3.40 / 3.90 implies 47.62 + 29.41 + 25.64 = 102.67%, so the overround is 2.67% — that is the bookmaker's theoretical hold on the market.
For research, not betting advice. Positive expected value is an edge across many bets, never a prediction about one. Bet only what you can afford to lose. 18+.