Fair Odds Calculator: Find the Fair Odds for Your Bets
A fair odds calculator is also known as a no-vig fair odds calculator and this is an important tool in the world of sports betting as it gives the bettor a truer indication of the probability of the bet being successful in a two-way wager.
If you hear the terms ‘the juice’, ‘the house margin’ or even ‘the cut’ when you are on a sports betting journey, that simply means the vig.
How Does The Calculation Work?
As with a lot of betting calculators on the market, you have three different betting odds formats to choose from - Fractional, Decimal and American.
Here is a brief explanation of the formula used to calculate the fair odds into implied probability if you prefer to do the calculations manually.
| Odds Format | Calculation For Implied Probability |
| Negative American Odds | Odds / (Odds + 100) x 100 |
| Positive American Odds | 100 / (Positive Odds + 100) x 100 |
| Decimal Odds | (1 / Decimal Odds) x 100 |
| Fractional Odds | Denominator / (Numerator + Denominator) x 100 |
Once you have your implied probability, you would double that number and any amount over 100% would be the vig. You then divide the implied probability and the total implied probability together.
Main Purpose Of A Fair Odds Calculator
The main purpose of a fair odds calculator or no vig fair odds calculator is to remove the expected edge the bookmakers have to see what odds you would be handed if there was no vig or juice.
By doing this, you will get a true likelihood of each betting outcome as a percentage and the odds you will receive if the bookmaker did not include the vig.
The bookmakers add the vig to each bet to help titl the odds in their favour. It will depend on the amount of bets placed to see if the bookmakers will make a profit or loss. The fair odds calculator helps punters understand just how much of a margin is being applied by the bookmakers.
How To Use Our Fair Odds Calculator
Learning how to use our fair odds calculator is quite simple and there are not many steps to get through:
- Open our fair odds calculator
- Select which format you want use - American, Decimal or Fractional
- Enter in your odds for a two-way wager from the
best UK bookmakers
- Press Calculate
- You will then have the true probability and the no vig odds
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Here Is Our Fair Odds Calculator
Here is a specially designed fair odds calculator. Take a few moments to familiarise yourself with it and select which odds format you would be using when placing bets.
Top Tips For Using A Fair Odds Calculator
Make sure to input the odds from both sides of your bet using the same odds format (American, Decimal or Fractional).
Use the no vig fair odds calculator to maximise potential profit by comparing them against a whole host of bookmakers.
Bettors like to use accumulators and parlays when betting, but it is advised to avoid using a fair odds calculator because of the complexity of multiple bets making it extremely difficult to get the true odds.
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Fair Odds Calculator FAQ
🧮 What Is A Fair Odds Calculator?
A fair odds calculator is a mathematical tool designed to remove the vig or juice as it is also known from the odds of your sports bet.
❓ What Does Vig Mean?
The vig is short for vigorish and both terms can be used. In simple terms, the vig is the amount you pay the bookmaker that allows you to place the bet. When you place the bet you are hoping to make money, the bookmaker is trying to do exactly the same thing.
✅ Is It Legal To Use A No Vig Fair Odds Calculator?
Yes, there is no law against using a no vig fair odds calculator. It is a tool designed to help you understand your bet and what your return would be if the bookmakers did not add their house edge in.
