Where the cut hides
-110 means 52.4%. Two sides at -110 add up to 104.8%, not 100%. The extra 4.8% is the book's margin, also called the hold. You pay it on every bet, win or lose, over time.
Taking the cut out
To get the fair price, shrink both sides back to 100%. A market of -120 and +100 adds up to 54.5% + 50% = 104.5%. Divide each side by 1.045 and you get about 52.2% and 47.8%. Those are the no-vig fair odds.
What fair odds are for
- Any price better than fair is a value bet.
- A market with a small hold is cheap to bet into. Under 2% is a low-hold market.
- We remove the vig from sharp books on every market to set the fair price you see on each pick.