Early 2024 marked the emergence of North Carolina sports betting. Now, the state offers multiple legal sports betting sites and apps. DraftKings, FanDuel, and BetMGM are among them. You can use our calculator in North Carolina to find the best bets and true probability without the sportsbook’s vig included.
No-Vig Fair Odds Calculator
The No-Vig Fair Odds Calculator helps bettors assess the implied probability of a 2-way wager’s outcomes occurring — after removing the sportsbook’s vigorish. The “vig” is also known as the built-in commission that bookmakers use to ensure they make a profit.
The calculator identifies potential value by comparing fair odds with the sportsbook’s. Betting opportunities are presented when the fair odds (no-vig odds) are significantly higher than the sportsbook’s listed betting line.
Key terms to know when calculating No-Vig Fair Odds with our tool are:
American Odds: The odds offered by a sportsbook on a particular bet.
True Probability: The likelihood of each outcome occurring with the sportsbook’s vig removed.
No-Vig Odds: Fair odds for the associated bet.
How To Use No-Vig Fair Odds Calculator
1
Enter American Odds
Enter the odds provided by your sportsbook of choice.
2
Click "Calculate"
Press the “calculate” button at the bottom of the calculator.
3
Collect Data
The No-Vig Fair Odds Calculator will help you remove the expected sportsbook edge (otherwise known as vig or juice), and it gives you:
- The true likelihood of each outcome occurring as a percentage.
- The odds you would receive if the sportsbook included no vig.
Please note that this calculator only works on 2-outcome events like moneyline or spread bets.
How To Calculate True Probability (No Vig Odds)
Fair odds are more of a guideline than a hard and fast measure of sportsbook vig.
For example, let’s use the most common point spread odds (-110/-110). We know these odds imply a 50% chance of either side winning. The first step in determining the fair odds is to calculate the implied probability:
Implied Probability = (-1 x (Odds)) / (-1(Odds) + 100)
or:
Implied Probability = (-1 x (-110)) / (-1(-110) + 100)
or:
52.4% = 0.524 = 110 / 210
Since both sides of the bet offer -110 odds, we can double the Implied Probability to get 104.8% (1.048 as a decimal). The amount over 100% is the sportsbook’s vig or juice. We need to determine the proportion of the amount over 100% each set of odds is responsible for. That means simply dividing them by the total percent of all odds:
Fair Odds = Implied Probability / Total Implied Probability of All Odds
or:
Fair Odds = 52.4% / 104.8%
or:
50% = 52.4% / 104.8%
Now, we understand the fair odds at -110 and can look for an edge if one side has at least a 50% chance of winning.
Some strong warnings come with this calculation: sometimes, bookmakers play with the lines in a way that can keep the sports bettor in the dark. That means they consider one side of the wager more responsible for the vig. The No-Vig Fair Odds Calculator is the best way to learn what the sportsbook thinks.
No-Vig Fair Odds Calculator Example
Let’s give the No-Vig Fair Odds Calculator a whirl to show how it looks in action. We’ll use odds for an NFL game from DraftKings. This game is long over, but it’s a great example of how our calculator can inform NFL betting decisions.
First, find the game you’re planning to bet on. Here are the odds we’ll use in our example for the Chicago Bears vs. Indianapolis Colts game.
Next, plug in the odds. We’re using the moneyline odds here, which are in the rightmost column.
This is how the calculator looks with the odds entered into the proper fields. Next, all we need to do is click “Calculate.” The results will pop up and look like this:
The calculator now shows us the true probability of each outcome. Based on the odds with DraftKings’ vig removed, the Bears are slightly less likely to win the game than the Colts, but that margin is incredibly slim.
Legal Sports Betting State for No-Vig Betting
Sportsbooks in every legal betting state will charge some type of vig, which means our calculator is helpful in any market where sports betting is available. Here are a few states where it can be of use.
North Carolina
Ohio
Ohio has a bustling sports betting market. BetRivers, Caesars, FanDuel, and others grace the state with their sportsbooks. Ohio also has a huge variety of sports for local fans at both the college and professional levels. Cincinnati and Cleveland are hotbeds for pro teams, while various other Ohio cities host popular college teams. Use our calculator to help with your Ohio sports betting needs.
Michigan
Detroit is home to four major pro teams: the Lions (NFL), Tigers (MLB), Red Wings (NHL), and Pistons (NBA). Michigan is also a college sports haven with many contending teams in various sports. Add a stack of bonafide Michigan sportsbooks to the mix, and you have plenty of opportunities to use our No Vig Fair Odds Calculator in the Great Lakes State.
Frequently Asked Questions
A no-vig calculator shows sports bettors fair odds while removing the sportsbook’s vig. Vig is essentially the sportsbook’s house edge, a commission they take on each bet.
The vig, short for vigorish, is a sportsbook’s commission on each bet. It is not an added cost, pre sé. Instead, the vig is baked into the odds on any given bet a sportsbook offers.
Sportsbook odds always include a vig so the sportsbook can make money no matter which side of a bet wins. No-vig odds remove this commission to show the fair odds on the same bet.
No-vig odds are also called “fair odds.” They take the sportsbook’s odds and remove the commission, which is applied to the sportsbook odds you see on an app or site. By comparing fair odds with sportsbook odds, you can sometimes find advantageous bets.
Vig is short for vigorish. It’s a big word that just means a sportsbook’s commission on a given bet. Vig in sports betting is similar (but not identical) to the house edge in casino games like blackjack.
Fair odds represent the odds that would be completely fair on a given bet. For example, a bet with a 50-50 chance to succeed would have fair odds of +100, meaning you win $100 if you bet $100. Sportsbooks can’t offer fair odds, or they would lose money, so they add a commission — called vig or vigorish — to every bet.
Vig is usually around 4.54% on common bets like moneylines, totals, and point spreads. Other bet types may have bigger variations in vig. That’s where our calculator can be even more helpful.
