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Best Betting Sites UK / Betting Calculators 2024 / Fair Odds Calculator 2024

Fair Odds Calculator 2024: Calculate Fair Odds in Seconds

Publish Date: 01/02/2024
Fact checked by: James Leeland

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.

Fair Odds calculator

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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 FormatCalculation For Implied Probability
Negative American OddsOdds / (Odds + 100) x 100
Positive American Odds100 / (Positive Odds + 100) x 100
Decimal Odds(1 / Decimal Odds) x 100
Fractional OddsDenominator / (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:

  1. Open our fair odds calculator
  2. Select which format you want use - American, Decimal or Fractional
  3. Enter in your odds for a two-way wager from the best UK bookmakers
  4. Press Calculate
  5. You will then have the true probability and the no vig odds

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.

Fair Odds calculator

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Top Tips For Using A Fair Odds Calculator

Enter Accurate Odds

Make sure to input the odds from both sides of your bet using the same odds format (American, Decimal or Fractional).

Search For The Best Odds

Use the no vig fair odds calculator to maximise potential profit by comparing them against a whole host of bookmakers.

Avoid Parlay Bets

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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Other Betting Calculators We Offer 

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The moneyline market is very popular when it comes to betting on sport. Our moneyline betting calculator is a specially designed tool to convert odds into different formats before calculating the implied probability of that bet being successful.

ROI Calculator

ROI stands for Return on Investment. Placing bets might not seem like an investment, but you are placing money down in the hope of making a profit. Our ROI calculator helps the bettor work out the expected loss or profit when placing a sports bet.

Arbitrage Calculator 

Arbitrage betting is where the punter bets on a series of events that will see a profit returned no matter what the outcome is. Our arbitrage betting calculator will take your betting odds from a two-way or three-way market with different bookmakers and will tell you what you need to stake in order to return a profit.

Kelly Criterion Calculator

The Kelly Criterion calculator will make life easier for bettors who do not enjoy manually working out mathematical calculations. Kelly Criterion is a mathematical formula that allows punters to work out how much they should bet if there is a difference between the true odds and the ones displayed by the bookmakers.

Tricast Calculator

Our tricast calculator is a time-saving tool that was created to help bettors with their tricast or trifecta bets. It will calculate your bet stake when considering all your selections.

Dutching Calculator

Our dutching calculator was designed to help bettors work out the amount they would need to stake on a range of selections to help maximise their potential payout return.

Accumulator Calculator

Accumulators or accas are very popular in the world of sports betting especially at the weekend with football matches. Our accumulator calculator will automatically and instantly combine all your selected odds into one large accumulator with one odds figure.

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.

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.

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