When a sportsbook prices a bet at -110/-110, both sides look equal. But the implied probabilities sum to more than 100% — that's the vig. No-vig odds remove the sportsbook's margin to reveal the true probability the market assigns to each outcome.
Why No-Vig Odds Matter
To determine if a bet has positive expected value, you need to know the fair price — what the odds would be without the book's cut. No-vig odds give you this number.
If the fair price (no-vig) on a team is +110, and you can get them at +125 at a different book, you have positive expected value. You're getting paid more than the fair probability implies.
If the fair price is -120 and you're getting -120 at the book, you're paying exactly fair value — neutral EV at best, slightly negative with any vig included.
How to Calculate No-Vig Odds
For a two-outcome market like a standard spread:
- Convert both prices to implied probability
- Sum the probabilities (will be over 100%)
- Divide each probability by the sum to normalize
- Convert back to odds
Example: Both sides at -110
- -110 implied probability: 52.38%
- Sum: 104.76%
- No-vig probability: 52.38 / 1.0476 = 50% each
- No-vig odds: +100 / +100 (even money)
Example: One side at -130, other at +110
- -130 implied probability: 56.52%
- +110 implied probability: 47.62%
- Sum: 104.14%
- No-vig probability: 56.52 / 1.0414 = 54.27%; 47.62 / 1.0414 = 45.73%
- No-vig odds: approximately -119 / +119
Using No-Vig for Line Shopping
The no-vig fair price gives you a benchmark. If you see the same market at +125 at another sportsbook, and the fair price is +119, you're getting +6 EV on that bet — worth taking.
[Oddible calculates no-vig fair odds automatically on every bet →]
