No-Vig (Fair Odds) Calculator
Take the bookmaker’s margin out of a market and see the price underneath. The fair odds are what the market really thinks — and anything you can back at a longer price than fair is where value comes from.
What “no-vig” means
A bookmaker’s prices imply probabilities that add up to more than 100%. Removing the vig means scaling those probabilities back down so they total exactly 100, then turning them back into odds. What you get is the market’s honest opinion with the bookmaker’s cut taken out — a longer price than the one on the board, and the one you should be comparing your own estimate against.
Why you would bother
Fair odds give you a reference. If a sharp market’s fair price on something is 2.00 and another book is offering 2.15, that gap is the closest thing to an objective edge in betting — you do not need a model, only two prices and this arithmetic. It is also how closing-line value is measured: whether the price you took beat the fair price at kick-off.
The assumption, stated plainly
This uses proportional (multiplicative) normalisation: every outcome’s probability is scaled by the same factor. It is the standard method and the one nearly every no-vig tool uses, but it is an assumption rather than a fact. Bookmakers do not always spread margin evenly — heavy favourites typically carry less of it than the method assumes, which makes the fair price on a short-priced runner slightly optimistic. Treat the output as a good reference, not a measurement.
The formula
total = Σ pᵢ
fair pᵢ = pᵢ / total
fair oddsᵢ = 1 / fair pᵢ
where Dᵢ is each offered decimal price. The fair probabilities always sum to exactly 1.
Worked example
A market priced 1.91 / 1.91 implies 52.36% and 52.36%, totalling 104.71%. Divide each by 1.0471 and you get 50% and 50% — fair odds of 2.00 each side. So if another book will give you 2.05 on either side of that market, you are getting a better-than-fair price.
A fair price on every market, computed for you
HaterPicks devigs across 79 Australian books and grades every projection against the actual result. Free account · no card.
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FAQ
What are no-vig odds?
No-vig odds — also called fair odds or true odds — are what a market’s prices imply once the bookmaker’s margin is removed. They are always longer than the offered price.
Why do I need every outcome?
The margin is only visible across the whole market. One side of a two-way market tells you nothing about how much is being taken, so a no-vig figure from a single price is guesswork.
Is the fair price the true probability?
It is the market’s opinion with the margin removed, which is usually the best free estimate available — but it is still an opinion, and the proportional method used here is an approximation. It is a reference, not a fact.
How is this different from the vig calculator?
The vig calculator answers “what is this market costing me?”. This one answers “what is the real price?”. Same inputs, different question.