No-vig odds (also called fair odds, true odds, or sharp odds) are what the betting market would price a bet at if there were no sportsbook margin. They represent the market's purest estimate of the probability of each outcome.
Why No-Vig Odds Exist
Every sportsbook charges a fee — the vig or juice — built into the price. A fair 50/50 market would be +100/+100 (even money both ways). A sportsbook prices it at -110/-110. The difference between the implied probabilities (52.38% + 52.38% = 104.76%) and 100% is the book's 4.76% margin.
No-vig odds remove that margin to reveal what the market truly thinks the probability is.
How to Calculate No-Vig Odds
Step 1: Convert both prices to implied probability.
- -110 → 110/(110+100) = 52.38%
- -110 → 52.38%
Step 2: Sum the probabilities. 52.38 + 52.38 = 104.76%
Step 3: Divide each probability by the sum.
- 52.38 / 1.0476 = 50.0%
- 52.38 / 1.0476 = 50.0%
Step 4: Convert back to American odds.
- 50% → +100 (even money)
Applying No-Vig to Find Value
No-vig becomes your benchmark. If you can find a bet at better odds than the no-vig price at any book, you have positive expected value.
Example: A market has no-vig fair odds of +119/-119. If you find one side at +130 anywhere, you're getting paid +11 better than fair value. Over hundreds of bets, this edge compounds into real profit.
[Oddible shows no-vig fair odds automatically on every bet →]
