No-vig pricing removes the book's margin to estimate the "true" probability. Take both sides' implied probabilities, normalize them to sum to 100%, and re-convert. Sharp bettors use no-vig prices from sharp books (Pinnacle, Circa) as a proxy for market truth.
Math & probability
No-vig price
The "fair" line after stripping out the book's margin. Best used to sanity-check your edge.
Example
Market -115/-105 — no-vig is ~-110/-110 (50.6% / 49.4%).
Related terms
Vig (juice)
The sportsbook's built-in margin — the reason implied probabilities add up to more than 100%.
Implied probability
The win probability baked into a given odds line, as a percentage.
Closing line value (CLV)
The difference between the line you bet and the line at game time. The single best measure of long-term skill.