Novig
Novig, based in New York, is a pioneering sports betting company that offers a commission-free, peer-to-peer betting exchange, allowing users to set their own odds or choose the best market price without a house advantage.
Company Overview
Novig is a consumer gaming company headquartered at 169 Madison Ave #2199 New York, NY 10016. With a team of 12, Novig is focused on transforming the sports betting industry by advocating for a peer-to-peer betting model. The company aims to create a more fair and personal betting experience, eliminating traditional sportsbooks and commissions on trades.
Services
Novig offers a commission-free sports betting exchange that allows bettors to set their own odds or take the best price available on the market. It supports Moneyline, Spread, and Totals markets for MLB, NFL, NBA, NCAAF, NCAAB, and offers Player Props for professional sports. The platform plans to expand its services to include markets for NHL, soccer, tennis, and golf, among others. Novig provides a seamless, data-driven betting experience through API integration and supports both iOS and Android platforms.
Innovative Betting Model
Novig distinguishes itself with a peer-to-peer betting model that removes the house advantage, rigging, banning, penalties, or vig. This model allows users to bet directly against friends or the market, enabling a more transparent and user-friendly experience. Novig guarantees the best odds by eliminating traditional sportsbooks and does not charge commissions on trades. Instead, the company plans to charge only the greatest winners on the platform.
Investors and Backing
Novig is backed by Y Combinator, Lux Capital, Paul Graham, and other top investors. Being part of Y Combinator's S22 batch has provided Novig with significant backing and support to revolutionize the sports betting industry. The company's values emphasize putting bettors first, challenging norms, building with integrity, and being transparent.
Regulatory Approval
Novig has received approval in Colorado for sports betting operations, marking a significant step in its expansion within the United States. The company is available in New York, NY, USA, and aims to broaden its reach across the United States and Canada.