Question 1

What does 'no-vig' or 'devigged' odds mean?

Accepted Answer

No-vig (or devigged) odds are betting odds with the sportsbook's built-in profit margin — the vig, or juice — mathematically removed, leaving only the market's true, fair probability estimate for each outcome.

Question 2

Why do sportsbook odds add up to more than 100%?

Accepted Answer

Every priced market has implied probabilities that sum to slightly over 100% (often 104-108%) because the book bakes in a margin on both sides of the bet. That extra percentage is the vig — the book's guaranteed edge if it takes balanced action on both sides.

Question 3

How do you remove the vig from odds?

Accepted Answer

The simplest method (proportional devigging) converts each side's American odds to implied probability, sums them, then divides each individual probability by that sum so they total exactly 100%. More advanced methods (power, Shin) adjust for favorite-longshot bias, but proportional devigging is accurate enough for most two-way markets.

Question 4

Why do bettors care about no-vig odds?

Accepted Answer

No-vig odds are the closest available estimate of a game's true probability. Comparing your bet's price to a sharp book's no-vig line is the standard way to check whether a bet is +EV before you place it — if your price implies a lower probability than the no-vig fair number, you likely have an edge.

No-Vig Odds Explained | ChalkPicks