Outcomes
Odds format
Devig method
Fair probability under each method. Tap a row to switch to it.
The vig. Sportsbooks price every outcome a little too low, so the implied chances add up to more than 100%. The extra is their margin, the vig.
Fair odds. A devig method takes that margin back out so the chances add up to exactly 100%. The result is the fair chance and fair odds of each outcome.
Value. If you can bet an outcome at a better price than its fair odds, it has positive expected value (EV). EV = fair chance × the price's payout − 1. It is an estimate and a single bet can still lose.
Which method? Power is a good all-round choice for spreads. Multiplicative is the simplest. Additive can break on long shots. Shin takes more vig off long shots and suits lopsided and 3–4 way markets.