Novig operates a peer-to-peer sports prediction market where users trade against each other rather than a traditional sportsbook. This exchange model offers users potentially better odds and transparency on sports wagers. Users can practice with free coins or compete for cash prizes using Novig Cash.
Funding
$6.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
JRSCFounders
Product
Problem
Traditional sportsbooks often have opaque odds and can restrict or ban successful bettors, limiting potential winnings and creating an uneven playing field. Users are often forced to accept the house's vig, reducing their potential profit.
Solution
Novig provides a peer-to-peer sports prediction market that allows users to set their own odds and trade directly with each other, eliminating the traditional sportsbook model. This exchange-based approach offers transparent, real-time market insights through access to the order book, empowering users to make smarter, more confident trades. By removing the house's vig and welcoming successful bettors, Novig aims to level the playing field and maximize potential winnings for its users. The platform offers both a cash-based virtual currency and a free-to-play mode with unredeemable coins, catering to different user preferences.
Target Audience
Novig targets sports fans and bettors who seek greater control over their odds, transparency in the market, and the opportunity to maximize their winnings without restrictions.
Features
- Peer-to-peer sports prediction market enabling users to set their own odds
- Real-time order book access for transparent market insights
- No restrictions on winning users
- Virtual currency (Novig Cash) redeemable for real cash prizes in sweepstakes games
- Free-to-play mode with unredeemable coins (Novig Coins)
- Rewards program for active users
- Futures markets