How to use the No Vig Parlay Calculator
Parlays are a popular betting variant offered by most sportsbooks. Giving the ability for you to combine a series of single bets into an accumulated payout. Parlays offer you the option to bet small to win big. However, it’s not always clear how much vig you’re paying. That’s why you can use the no vig parlay calculator to just see how much vig or hold you need to beat.
The calculator currently supports calculation from a 2 leg double up to a 12 leg parlay. Just make sure to enter the odds for your parlay selection into the outcome one odds field.
Although you can use the calculator for single bets. I have a specific no vig calculator for this.
Parlay Example
To illustrate how to use the calculator I’m going to use a 3 leg parlay as an example. In this case we need the odds for each selected outcome in our parlay along with the odds of the corresponding outcome.
| Parlay Odds | Parlay Selection | – | Opposing Outcome | Opposong Odds |
|---|---|---|---|---|
| -145 | Toronto Blue Jays | vs. | Baltimore Orioles | +125 |
| -120 | Chicago Cubs | vs. | Cincinnati Reds | +110 |
| +112 | Boston red Sox | vs. | Seattle mariners | -130 |
Firstly, we need to enter these odds into the calculator like the image below
Once the odds for each betting market has been entered into the calculator. The hold/vig for that leg is displayed on the right hand side of the calculator. You can leave the remaining odds fields blank.
Now that the odds have been entered we can scroll down to the bottom of the calculator. Where the no vig parlay odds and no vig parlay implied probabilities are displayed.
The Current Parlay Odds represent the odds that the sportsbook will offer given the odds available. The Parlay No Vig Odds are the true or fair odds for the parlay. In addition the Current Parlay % and the Parlay No Vig % represent these same odds but in percentage / implied probability form.
Last piece of information is the Overall Sportsbook Hold / Vig at the bottom of the calculator. This is the combined parlay vig from all the legs meaning the sportsbook would expect close to a 9% profit from this parlay. As you can see the individual leg vigs multiply to increase the overall parlay vig. Subsequently, this is why sportsbook love promoting parlays as they are super profitable for the sportsbook.
However, we can turn this vig amplifying effect against the sportsbooks. By combining individual arbitrage bets into a combined parlay arbitrage bet.
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