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Remove the bookmaker margin to estimate fair odds.
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Bookmakers embed a margin in their odds so the implied probabilities sum to more than 100%. Enter the two-sided odds and the calculator removes that margin proportionally, leaving fair odds for each side.
The price a bookmaker would offer with zero margin built in. No-vig odds from a sharp market are the standard proxy for true probability in EV calculations.
Add the implied probabilities of both sides. Anything above 100% is the vig. Removing it proportionally gives each outcome's fair share.
Arbitrage needs combined implied probabilities below 100%. The lower each book's vig, the more often markets cross into arbable territory.