The reason the total exceeds 100% is because the bookmaker has an advantage called vig. If we were to add the implied probability of all three options we see 55.37+19.23+27.40=102.0%. Now understand implied probability refers to how often the selection must win in order to break even. To use the previous shared example the math would look like this: As we’re dealing with decimal odds we can keep it simple and make the risk amount 1 in which case our return is the same as the odds. The math is to first convert the odds to implied probabilities, using the formula risk/return=implied probability.
#NO JUICE MONEYLINE HOW TO#
How to Remove VigĪlthough our betting tool does the math for you, for those interested in the specifics on how to remove vig allow me to break this down for you. So this is where our tool comes in, we can use it to determine if 188bet’s odds of 1.806, 5.20 and 3.65 are correct: does draw at 3.75 have value? Entering those all into the calculator I see the no-vig price on Draw is 3.7226 and therefore 3.75 at BetOnline is higher so this is very likely a +EV bet.
So here you feel chances are pretty good 188Bet has the correct odds while BetOnline is catering to recreational punters. You also know more often than not has the best odds – and that due to their high betting limits and reduced margins (less juice/bookmaker advantage) they can’t afford to offer +EV bets. You’re now curious because you realize BetOnline is a very popular “recreational” sportsbooks that is mostly known as US betting site (servicing mostly punters from the United States and therefore not EPL specialists). After shopping the odds with the usual suspects you see 188Bet’s odds are best for most options with just one exception… BetOnline is offering Draw at 3.75. Let’s say you notice that 188Bet has odds for an English Premier League match as Manchester United 1.806, Newcastle United 5.20 and Draw 3.65. However, there are certainly times where Euro bookmakers are competitive on certain matches or other Asian bookies have a difference of opinion. Best Use of This Calculatorįor football (soccer) the betting website offering the best odds on average is (for 3-way hockey markets I would suggest using instead for what is about to be shown). Simply enter the set of odds the bookmaker is giving you for all three betting options to see the no-vig fair market price and win probabilities. This calculator supports both European decimal odds and American moneyline odds. In other words it can be used to handicap the market price for sports where there is the option to bet on Home, Visitor, or Draw.
The calculator to the left can be used to remove vig from 3-way markets such as 1X2 used in football (soccer) and sometimes hockey. Remove Vig from 3-way Odds Such as Soccer and HockeyĬlick Here for our 2-Way No-Vig Calculator