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Find the bookmaker's built-in margin on a two-way market, and the true fair odds.
The vig (or ) is the commission a bookmaker builds into their odds. On a fair coin-flip both sides would be +100; books offer −110 each, and that gap is their margin.
A market's implied probabilities always sum to more than 100% — the excess is the vig. Lower vig means better value, so comparing the margin across books finds you the sharpest price.