What no-vig odds can and cannot tell you

Decimal odds can be turned into implied probabilities: 100 ÷ price. For all the outcomes of one market, these probabilities usually add up to more than 100%. The extra part is the bookmaker's margin, also called overround.

Take a simple two-outcome market with both sides at 1.90. Each has an implied probability of about 52.63%, and together they make about 105.26%. The margin is about 5.26 percentage points.

One method is to scale each probability so the total becomes 100% (the proportional method — the one Bet-Mate uses). In this example each side becomes 50%, which is a price of 2.00.

Real markets are rarely this even. Different methods can give different results, especially when one price is much longer than the others. That's why a no-vig price should always say which method was used.

No-vig prices are calculations. A bookmaker offering 1.90 has not offered 2.00 just because the calculation gives 2.00. Removing the margin doesn't reveal the true chance of an outcome, and it doesn't make another price profitable.

When you compare, decide whether you are comparing prices you can actually bet or calculated estimates — and keep that clear. Bet-Mate's Methodology explains the calculation used in the optional no-vig view.