No-Vig / De-Vig Odds
Updated May 18, 2026 by Sam Smith
No-vig odds (also called de-vig or fair odds) are the prices a sportsbook would offer if it removed its built-in margin. They represent the book's actual probability estimate, stripped of profit. The no-vig price from a sharp sportsbook is the benchmark every +EV bet is measured against.
The expanded definition
A standard sportsbook two-way market is priced with vig (vigorish, juice, or hold) baked in. A typical -110 / -110 NFL spread looks symmetrical but the two implied probabilities add to more than 100%, and that overflow is the book's margin. Removing the vig means scaling both sides back down so their implied probabilities sum to exactly 100% — what the book would charge if it took no rake.
Worked example: -110 converts to an implied probability of 110 ÷ (110 + 100) = 52.4%. Both sides at -110 sum to 104.8%, so the vig is 4.8%. Dividing each side by 1.048:
52.4% ÷ 1.048 = 50.0% on each side. No-vig fair odds: +100 / +100.
That +100 / +100 is the sportsbook's actual probability call. Any soft-book price longer than the no-vig fair line is, by definition, +EV against that benchmark.
Why no-vig odds matter
Comparing one sportsbook to another sportsbook directly is misleading — both prices carry vig, and the comparison conflates margin differences with probability differences. Stripping the vig out first isolates each book's honest probability estimate. That is the calculation behind every +EV betting tool: pull the sharpest book's no-vig price, compare it against the offered price at every soft book, and surface the markets where the soft book is offering a longer number than the consensus says the outcome deserves.
Related terms
- Positive expected value (+EV) — a bet whose offered price is longer than the no-vig fair price from a sharp consensus.
- Closing line value (CLV) — long-term confirmation that a bet beat the market; many bettors measure CLV against the no-vig close rather than the posted close.
- Kelly criterion — the bet-sizing formula whose edge input is the gap between a subjective win probability and the no-vig implied probability.
- Hedging — taking the opposite side of an existing position; usually executed against a vig-laden second market and so surrenders part of the original edge.
Frequently Asked Questions
What are no-vig odds?
No-vig odds, also called de-vig or fair odds, are the prices a sportsbook would offer if it removed its built-in margin. Standard -110 / -110 lines carry roughly 4.5% vig. Stripping out that margin produces +100 / +100, which represents the book's true estimate of each side's probability before it builds in profit.
How do you remove the vig from odds?
To remove the vig, convert both sides to implied probabilities, add them together (the sum exceeds 100% by the vig amount), then divide each implied probability by that sum. For -110 / -110: 52.4% + 52.4% = 104.8%. Divide each by 1.048 and the no-vig probabilities become 50% / 50%, which converts back to +100 / +100 fair odds.
Why use no-vig odds when finding +EV bets?
No-vig odds matter when finding +EV bets because they represent the sportsbook's actual probability estimate. Comparing a soft sportsbook's price against the no-vig price of a sharp book (Pinnacle, Circa) reveals when the soft book has mispriced a side. The bet is +EV when the soft-book price implies a lower probability than the sharp-book no-vig fair price.
Which sportsbooks should be used as the no-vig benchmark?
The sportsbooks that should be used as the no-vig benchmark are the sharpest, highest-limit operators — Pinnacle and Circa being the most cited. Their lines move quickly in response to professional action and carry the lowest hold percentages. Soft retail books (DraftKings, FanDuel, BetMGM) are the targets for +EV bets; sharp books supply the fair-odds reference point.
Sam Smith
Sam Smith is a writer and editor with Stokastic and OddsShopper. He has been immersed in the world of professional sports data since 2015 while also writing extensively on the NFL for a multitude of blogs and websites. With OddsShopper, Sam looks to blend his sports and editorial expertise with OddsShopper's data to bring you the best betting information possible.
