Bookmakers do not offer fair odds. Whether you call it the Margin, the Vig (Vigorish), the Juice, or the Overround, it all means the same thing: a hidden fee built directly into the odds.
This dual-purpose calculator allows you to see “under the hood” of any betting market. It calculates the bookmaker’s profit margin and reverses the math to show you the No-Vig (Fair) Odds—the true probability of the event without the fee.
How to Use This Tool
You can use this calculator for 2-way markets (Tennis, Basketball, Over/Under) or 3-way markets (Football/Soccer 1X2).
- Enter Odds: Input the decimal odds for all outcomes (e.g., Home and Away).
- Calculate: The tool will process the numbers instantly.
- Analyze the Data:
- Margin %: The percentage of the total money wagered that the bookie keeps as profit (assuming a balanced book). Lower is better.
- Fair Odds (No-Vig): This is the “Golden Number.” It is what the odds would be if the bookmaker charged zero commission.
Understanding the Math: The Coin Flip
The easiest way to understand Margin is the coin flip.
- Real Probability: 50% Heads, 50% Tails.
- Fair Odds: 2.00 / 2.00.
However, a bookmaker will never offer 2.00. They will offer 1.90 / 1.90.
- Implied Probability (1.90): 1 ÷ 1.90 = 52.6%.
- Total Market Percentage: 52.6% + 52.6% = 105.2%.
That extra 5.2% is the Overround (Margin). The bookmaker charges you 5.2% for the privilege of placing the bet. Our calculator removes this noise to show you the true 2.00 price.
Why “No-Vig” Odds Matter for Pros
Professional bettors use No-Vig Odds to find value. If you want to know if a bet is profitable, you cannot compare your prediction against the bookie’s raw odds.
Example Strategy:
- Take the odds from a “Sharp” bookmaker (like Pinnacle).
- Use this calculator to Remove the Vig and find the “True Probability” of the outcome.
- Compare that True Probability against a “Soft” bookmaker. If the Soft bookmaker is offering odds higher than the True Odds, you have found a positive expected value (+EV) bet.
Frequently Asked Questions (FAQ)
What is a “Good” margin percentage?
In major markets (Premier League, NFL, NBA), competitive bookmakers operate with margins between 2% and 4%. Anything above 5% is average, and anything above 7-8% is considered “high vig” and should be avoided if possible.
Why do 3-way markets have higher margins?
Mathematically, adding a third outcome (like the Draw in soccer) increases the bookmaker’s risk management complexity. To compensate, they often increase the margin. It is common to see 5-6% margins in soccer 1X2 markets compared to 3-4% in Asian Handicap markets.
Does this calculator work for American Odds?
This specific tool uses Decimal odds for precision calculation. If you have American odds (e.g., -110), please use our Odds Converter first to switch them to Decimal (e.g., 1.91), then input them here.