# Hold calculator and vig calculator

> Independent. Not affiliated with, endorsed by or sponsored by Novig.

Canonical: https://novigapi.com/hold-calculator
Method checked: 2026-11-12
Interactive tool: https://novigapi.com/hold-calculator (prefill with ?a=&b=)

Hold is the share of money a book keeps if it takes balanced action: 1 - 1 / (sum of implied probabilities). -110 / -110 sums to 104.76% and holds 4.55%. An exchange such as Novig adds no vig; its only cost is the spread and a live taker fee (Novig docs, checked 12 Nov 2026).

## Worked example

Hold by market

| Market | Implied sum | Overround | Hold |
| --- | --- | --- | --- |
| -110 / -110 | 104.76% | 4.76% | 4.55% |
| -105 / -105 | 102.44% | 2.44% | 2.38% |
| -120 / +100 | 104.55% | 4.55% | 4.35% |
| -115 / -105 | 104.71% | 4.71% | 4.50% |
| -200 / +170 | 103.70% | 3.70% | 3.57% |

```
overround = sum(q) - 1
hold = 1 - 1 / sum(q)
```

Overround and hold measure the same margin two ways. Overround is how far the implied probabilities exceed 100%; hold is the share of total handle the book keeps if it balances action in proportion to its prices. Hold is the number books report.

On Novig the two best prices on a two-way market are the bid on one side and 1 minus the bid on the other, so the implied sum of the asks is 100% plus the spread. A two-point spread is a two-point overround, paid only if you cross it.

## How to use it

1. Pick 2 way or 3 way.
2. Enter every outcome's price.
3. Read the hold, the overround and each side's no-vig probability.

## Questions

### What is the hold on -110 / -110?

4.55%. The implied probabilities sum to 104.76%, and 1 - 1/1.0476 = 4.55%.

### Is hold the same as vig?

Vig is the margin in the prices; hold is that margin expressed as a share of handle. Overround is a third way to state it.

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