Pricing & mathsGlossary
True odds
Also known as: Real odds, No-vig odds
The odds at which a bet would be priced if there were no bookmaker margin — pure reflection of the underlying probability. Calculated by removing the overround from the market: implied probabilities normalised to sum to 100%. Pinnacle and the closing exchange price are often used as proxies for true odds in markets they cover. Useful for spotting value bets.