How are fair odds calculated?

'Fair Odds' on the Value Betting software are calculated by taking the average of all the collected odds after being de-vigged. The 'Count' column will show you how many bookies are being used in this calculation, which you can use as an indication of confidence in those fair odds.

This average is not weighted, our fair odds are constructed purely mathematically to remove any bias.

One note here is that each bookie group is only factored in once, so for example the odds from Ladbrokes and Neds would only count as one bookie in the calculation. This is to avoid one group such as BetMakers dominating the calculation.

Australian bookies do tend to focus on Australian sports, for extra confidence we have also added several overseas bookmakers, this allows us to be even more accurate for markets on the NFL and NBA.

In situations where bookmakers only have one side of the market, ie. Overs but no Unders, we calculate the margin by taking the average margin of all bookies that do have both sides of the market and use this to estimate what the Unders odds would be if offered. This is denoted by the calculator icon.

For more on de-vigging odds you can see this article here. We use the MPTO method when devigging for Fair Odds.