Betting terms
What is no-vig odds in sports betting?
By DeepChamp research team · Updated · Methods and limitations
Definition
No-vig odds are the prices of a market after the operator's margin has been stripped out, so the implied probabilities of all outcomes add to exactly 100 percent. They are a reference estimate, not a price anyone is offering. A -110 and -110 market becomes +100 and +100, a 50 percent chance on each side.
How it works
The usual method is proportional. Convert every price in the market to an implied probability, add them, then divide each probability by the total. With +120 and -140, the implied probabilities are 45.45 and 58.33 percent, a total of 103.79 percent, so the margin-free figures are 43.80 and 56.20 percent. Turning those back into American odds gives about +128 and -128.
Vig, hold and no-vig odds answer three different questions. The vig is the margin sitting in the prices, the hold is that margin as a share of the money, and no-vig odds are what the prices would look like with the margin taken away. The last is a calculation, not a quote. An operator posts prices with the margin included, so the no-vig figure is only a yardstick.
Treat the result with care. Proportional removal assumes the margin is spread evenly in probability terms, but operators may load more of it onto one side, sometimes the long shot, so other methods give slightly different answers. The margin-free price is also only as informative as the market behind it. A thin prop market or a stale line yields a number that is precise to two decimals and still wrong.
Stripping the margin from +120 and -140
A hypothetical game is priced at +120 on one side and -140 on the other. The +120 side implies 100 divided by 220, or 45.45 percent; the -140 side implies 140 divided by 240, or 58.33 percent. The total is 103.79 percent, so the margin is 3.79 points. Divide each by 103.79 and the figures become 43.80 and 56.20 percent, which add to 100. As American odds those are about +128 and -128, so the posted +120 is a bit worse than the margin-free +128, and -140 is a bit more expensive than -128.
Hypothetical numbers for arithmetic only.
Why it matters when you research a bet
A researcher's estimate should be compared with a market view that has no margin in it, otherwise part of the gap is simply the operator's cost. Margin-free prices from several operators also show whether one price is out of line with the rest of the market. They give a cleaner baseline for measuring line movement, and they feed directly into closing line value comparisons.
Common mistakes
- Treating it as an available price. A no-vig number is a benchmark; the operator's actual prices still include the margin, so nobody can transact at the fair figure.
- Calling it the true probability. It is the market's view after one margin-removal rule, and both the market and the rule can be wrong.
- Dropping outcomes. The margin has to be removed across every outcome in the market, and normalizing two of three outcomes in a three-way market gives the wrong total.
Common questions
How do you remove the vig from betting odds?
Convert each price to an implied probability, add them to get the total, and divide each probability by that total. The results add to 100 percent and can be converted back to American or decimal odds.
Are no-vig odds the same as true odds?
No. They are the market's prices with the margin taken out, so they inherit whatever the market got wrong. True odds are unknown, and even a well-informed market is an estimate.
Why do different calculators give different no-vig prices?
Several methods exist for spreading the margin across outcomes. The proportional method is common, but others weight long shots differently, so results can differ, especially on lopsided prices.
This is educational research content. Examples use hypothetical numbers and are not live odds, picks, or claims about performance.
21+ for U.S. sports betting. Follow the laws and age requirements where you are. DeepChamp AI provides independent sports betting research and analysis. It does not accept or place wagers, hold customer funds for betting, or operate a sportsbook. No wins or profits are guaranteed. If you or someone you know has a gambling problem, call 1-800-GAMBLER or visit the National Council on Problem Gambling. Outbound product links from this page connect exclusively to Apple’s licensed App Store listing for DeepChamp AI. DeepChamp AI does not link to unlicensed gambling operators.