Novig
Peer-to-peer sports exchange. Commission-free orderbook model, no bookmaker vig built into odds.
- ✓ US sports bettors who want to trade peer-to-peer with no vig
- ✓ Sharp bettors who post limit orders and want the best possible price
- ✓ Anyone tired of traditional sportsbook margins eating into profits
- ✗ Traders looking for political or economic markets: sports only
- ✗ Users in states where Novig is not yet licensed
- ✗ Casual bettors who prefer the simplicity of a traditional sportsbook
About this operator
Novig is a peer-to-peer sports betting exchange built on the premise that traditional sportsbooks extract 4–8% vig on every bet. Instead of a bookmaker setting lines, Novig matches bettors against each other with no exchange commission, making it one of the most price-efficient venues for sports bets in the US. In August 2025 it raised an $18M Series A, followed by a $75M Series B in February 2026. It has applied to the CFTC for a Designated Contract Market (DCM) licence, which would enable 50-state availability. It currently operates in 35+ US states. Novig uses an orderbook model where users post and match limit orders, similar to Kalshi's architecture, but focused exclusively on sports outcomes.
Quick facts
| Founded | 2022 |
| Headquarters | United States |
| Type | Sports Exchange |
| Settlement | USD |
| Fees | Commission-free P2P exchange (no vig) |
| Min deposit | $10 |
| KYC | Full KYC (select US states) |
| Volume | $75M Series B (Feb 2026) |
| ✓ Data verified April 2026 | |
Novig — Scorecard
Editorial ratings based on publicly available data. Your experience may vary.
Novig — strengths and weaknesses
- ✓ Commission-free P2P trading, no vig
- ✓ Applied for CFTC DCM licence (50-state coverage)
- ✓ Sharp-bettor friendly orderbook model
- ✗ Sports-only: no political, economic, or general event markets
- ✗ Available in 35+ states but not yet nationwide
- ✗ Smaller user base than established sportsbooks; liquidity varies by market
- ✗ Revenue model still evolving post-Series B; fee terms may change
What does it actually cost to trade on Novig?
Currently commission-free: no vig, no per-trade fee. The savings vs a standard sportsbook are significant: on a $1,000 bet where a bookmaker would take $40–80 in margin, Novig takes $0. Revenue model is evolving; check novig.us for the latest fee terms.
How to start trading on Novig
- 1 Visit novig.us on iOS or Android and create an account
- 2 Complete full KYC: government ID and confirm your state of residence
- 3 Fund your account via bank transfer (minimum $10)
- 4 Browse sports markets, post limit orders at your desired price or take existing offers
Frequently asked questions — Novig
Is Novig legal? +
Novig is a licensed peer-to-peer sports betting exchange operating in 35+ US states with legal sports betting. It has applied to the CFTC for a Designated Contract Market (DCM) licence, which would expand its availability to all 50 states under federal preemption. It raised an $18M Series A in August 2025 and a $75M Series B in February 2026.
How does Novig make money if it's commission-free? +
Novig currently operates with commission-free trading as it grows its user base. Its revenue model is still evolving following its $75M Series B raise. Traditional sports exchanges earn revenue from a small percentage of matched bet volume; Novig's long-term model is expected to be similar, with fees introduced at scale after establishing liquidity.
How is Novig different from a traditional sportsbook? +
Traditional sportsbooks set their own odds with 4–8% margin (vig) built in, meaning the house always has an edge. Novig is a peer-to-peer exchange where bettors set and match their own odds via a limit-order book, similar to how a stock exchange works. There is no bookmaker taking a cut of every bet, which means prices are closer to the true probability.
What sports does Novig cover? +
Novig covers major US professional sports including NFL, NBA, MLB, NHL, and college football and basketball. It focuses on match outcomes, spreads, and totals. Market depth varies; the most popular NFL and NBA games have the deepest liquidity.
Is Novig safe? +
Novig is a licensed, venture-backed company ($75M Series B, Feb 2026) operating within the regulated US sports betting framework. Customer funds are held separately from operating funds. It has a formal application pending with the CFTC for a DCM licence. As with any sports betting platform, be aware that state-level availability can change.