Back to Encyclopedia
No-Vig Line
sports bettingThe theoretical fair odds with the sportsbook's commission removed, representing the true implied probability.
Key Takeaways
- 1No-vig line removes the sportsbook's commission
- 2Represents the market's true implied probability
- 3Essential for finding value and measuring CLV
- 4Calculate by normalizing implied probabilities to 100%
What is a No-Vig Line?
A no-vig line (also called "fair odds" or "true odds") is what the odds would be if the sportsbook charged zero commission. It represents the market's true implied probability of each outcome.
How to Calculate No-Vig Odds
- Convert both sides to implied probability
- Divide each by the total to normalize to 100%
Example
Line: Chiefs -150 / Eagles +130
- Chiefs implied: 150/250 = 60.0%
- Eagles implied: 100/230 = 43.48%
- Total: 103.48% (the 3.48% is the vig)
- No-vig Chiefs: 60.0/103.48 = 57.98%
- No-vig Eagles: 43.48/103.48 = 42.02%
Fair odds: Chiefs -138 / Eagles +138
Why No-Vig Lines Matter
- Finding value — Compare your probability estimate to the no-vig line
- Measuring CLV — Use no-vig closing lines for accurate CLV calculation
- Comparing sportsbooks — No-vig lines reveal which books offer the best prices
- Understanding the market — The no-vig line is the market's best estimate of true probability