My Favorite Parts of Novig
- Cheapest fees in the industry
- Various promotions
- CFTC-regulated
- Fantastic selection of props
- Full order book access
OA Review Rating
86/100
Fees
39/40
User Experience
10.5/12.5
Market Variety
9/12.5
Limits & Liquidity
9/12.5
Tools & Features
3.5/5
Deposit & Withdrawal Methods
Payout Speed
Up to 3 days
Novig is a peer-to-peer prediction market app where you can trade on various sports events. It's available in all U.S. states except Arizona, Michigan, and Nevada.
Novig was approved by the CFTC in June 2026 to run a federally regulated exchange. The new prediction market went live nationwide on August 4, 2026, and everything in this review reflects the real-money platform.
Trades on Novig happen one of two ways. Take an order and it executes instantly at the best available price, or make an order by naming your own odds and holding out until someone takes the opposite side.
Despite the switch to the new trading model, selling a position directly isn't an option on Novig yet. If you want out early, you take the other side of the market to cancel out your exposure.
The shift to real money also means Novig isn't free to trade on anymore. Even so, its fees are the lowest of any prediction market, which I'd call its single strongest selling point.
Taker fees cost up to $0.0075 per contract, whereas makers pay nothing and can actually earn a credit worth up to half the taker fee.
Novig hands out more incentives than just about any prediction market I've come across.
Beyond the welcome bonus, there's a referral deal that can net you $25 per friend, plus a monthly Points Program where you climb through ranks, knock out daily and monthly challenges, and earn a slice of a cash prize pool for sticking around.
My biggest knock on Novig is how limited the market selection is. It only offers several sports and no real-world markets like politics.
If you're interested in checking it out, use Novig promo code ODDSASSIST during registration to get $25 in Trade Credits after a first deposit of $10 or more.
In this Novig review, I will take a detailed look at the platform and break down key areas, including the sign-up bonus, market selection, fees, banking, and more.
Ratings by Category
Overall Rating
86/100
Novig is one of my top-rated prediction markets. It has the cheapest trading fees of any platform and the most promotions. The only real drawback is that it sticks to sports contracts.
Fees
39/40
Novig's trading fees are the lowest around, so you're giving up less on every position you take.
User Experience
10.5/12.5
The app is quick and easy on the eyes. What I like most is the player prop filtering, where a row of player icons lines up just below the market types so you can jump straight to the guy you're after.
Market Variety
9/12.5
Novig covers a solid range of sports and offers a strong mix of props, but it doesn’t offer non-sports markets.
Limits & Liquidity
9/12.5
Liquidity is strong on major sports, but it can tail off in the smaller markets.
Customer Reviews
11.5/12.5
Novig's Android app holds a 4.6 rating, and the iOS version does slightly better at 4.7.
Tools & Features
3.5/5
Novig supports limit orders, the most important tool in any prediction market. It's also missing an API for traders.
Banking
3.5/5
You get a solid range of banking options on Novig, from debit cards to bank transfers and crypto. I held back a perfect score, though, because debit card and Apple Pay deposits come with a 3% fee.
How to Get Started with Novig
Getting set up on Novig is pretty simple, but you’ll still need to clear a few verification steps after creating your account before you can unlock the full platform and start placing trades.
Here's how to sign up and get trading:
- Register. Enter your email, or join through Google or Apple, then complete verification either way.
- Create a passkey. Set up a passkey for added security and quicker Face ID logins.
- Add an authentication method. Choose Google Authenticator or SMS, then enter the code to confirm.
- Enter promo code ODDSASSIST. Drop in the code to claim $25 in Trade Credits after a first deposit of $10 or more.
- Enter your personal information. Add your name, date of birth, address, and the last four of your SSN, then pick your odds format, making sure it all matches your ID.
- Enable location services. Turn on your browser's location services, since Novig is geofenced and will block you if it can't confirm you're in an eligible area.
Novig Sign-Up Bonus & Promo Code
As soon as you create a Novig account and make a first deposit of $10 or more, you pick up $25 in Trade Credits.
You get that $25 as five separate $5 credits. Each credit is good for 30 days, and they only work on contracts priced between $0.01 and $0.60.
Use my Novig promo code ODDSASSIST when signing up to claim the welcome bonus.
One thing to keep in mind is that the credits work as trading fuel rather than instant cash. You put them to work on qualifying contracts, and any winnings you make from them are yours to keep or cash out.
Novig Promos for Regular Players
Beyond the welcome bonus, Novig runs several ongoing promos that reward you the more you trade, and here's how each one works.
Referral Program
Novig's referral deal works on a Give $25, Get $25 basis, and both sides come away with credits. When a friend signs up through your link and makes a qualifying deposit of at least $10, they get $25 in Trade Credits, and you get a $25 Referral Credit.
There's a bar to clear before you can refer anyone, though. Novig wants you trading actively first, which means at least five completed trades, at least $50 put at risk across them, and at least $10 in deposits. Once you're past that, your personal referral link shows up on the Rewards or Profile page.
For the reward to kick in, your friend has to finish the whole signup on their end. That means joining through your link, creating and verifying their account, linking a payment method, and making that $10 qualifying deposit. Once they do, both credits drop automatically.
The program caps at five friends, so you're looking at up to $125 in Referral Credits if you bring the whole crew. Each friend counts only once, and self-referrals or anyone in your household get blocked.
A few things worth knowing about your $25 Referral Credit.
It can't be withdrawn and only works for trading; it expires seven days after it hits your account, and it applies to contracts priced between $0.01 and $0.60. Any profit you make off it settles as real funds, but you can't withdraw those funds until you've traded another $25 on top.
Novig Ranks
Ranks is Novig's leaderboard, where traders go head-to-head across categories like Profit, Volume, Parlay Volume, and Biggest Wins.
You can filter it by the last 7 or 30 days, all-time, or by league, so it's easy to see exactly where you stand against the field.
Maker Credits
Maker Credits are how Novig rewards you for adding liquidity instead of taking it. When you place a Make order, you post a price and wait for another trader to take the other side. If they do, Novig pays you a credit rather than charging you a fee.
The credit is set at 50% of the taker fee, worked out as 0.015 × P × (1−P) per contract. That caps out around $0.0037 per contract on even-money markets and shrinks toward zero as prices get lopsided. It's tiny on any single trade, but it stacks up if you're posting a lot of volume as a maker.
Your credit is based only on the taker fee Novig actually keeps from the other side of your trade. If the trader filling your order gets their fee reduced, waived, or refunded through another program, Novig collects less, and your credit shrinks right along with it. So your payout hangs on who ends up taking your order, not just the order itself.
A couple of limits to note. The credit only offsets Novig's trading fees, not clearing, banking, or payment costs, and you can't earn it through automated trading. Still, for patient traders who'd rather set their own price than take the market, it flips the usual cost of a trade into a small rebate.
Challenges
Challenges are how you earn extra Points toward your tier, and they come in two flavors: daily and monthly.
The daily set is called The Daily Drop. Each day you get three challenges worth 25 Points apiece, and clearing all three earns a 25-Point bonus on top, so a full day adds up to 100 Points. The tasks tie into real trading activity and rotate constantly.
When I logged in recently, I got tasks like putting a straight trade on Pro BSB home runs, on a specific pitcher's market, or on a women's hoops game. Each one usually needs a small minimum trade to qualify.
Monthly challenges run alongside the daily ones and reward bigger, longer-term activity.
The Refer a Friend challenge, for instance, ties into the referral program and stacks Points on top of the credits you already earn.
The Daily Login challenge rewards consecutive logins, paying out more as your streak builds through the month.
With the daily tasks resetting every day and the monthly ones spanning the full cycle, there's always a fresh objective to chase. That's the whole idea, since steady activity is what keeps you climbing the tiers.
Points Program
Novig's Points program is its loyalty system, and it's built around monthly cycles that reset on the first of each month. The more you trade, the more Points you earn, and the higher you climb.
You earn Points through everyday activity on the exchange. Executed trades, maker fills that add liquidity to the order book, and completed challenges all feed your total. Parlay and combination-contract orders tend to earn the most, since they're the activity Novig most wants to encourage.
Novig Points move you through 5 tiers: Starter, Bronze, Silver, Gold, and Obsidian. Each tier you cross unlocks perks right away, like parlay boosts, purchase matches, and custom-colored share slips that show off your status when you post a trade.
The real payoff comes at the end of the month. Novig funds a cash prize pool and splits it among everyone who reaches at least the Bronze tier, with higher tiers taking a bigger share. Recent pools have run as high as $250,000 in a single month, so climbing even a tier or two can be worth real money.
One thing to keep in mind is that Points are for tier status only. They have no cash value on their own, can't be withdrawn, and reset to zero when the new month starts, so each cycle is a fresh climb. You also have to opt in to the program before you start earning.
My Favorite Parts About Novig
- Best-in-class trading fees: No prediction market undercuts Novig on cost. With takers paying just a fraction per contract and makers paying zero, you're keeping more of your money on every position.
- Rewards that keep coming: Novig doesn't stop at a welcome bonus. You've also got a referral program paying $25 per friend and a monthly Points Program built around tiers, challenges, and a shared cash prize pool, so there's always something to trade toward.
- Fantastic selection of props: Novig offers unique props that you rarely see on prediction market platforms, such as first basket scorer, passing completions, and anytime TD scorers.
- Crypto as a funding option: On top of the usual methods, Novig supports crypto deposits and withdrawals. That means you can keep your trading off your bank statement and take advantage of quicker payouts than traditional banking allows.
My Least Favorite Parts About Novig
- Narrow market selection: Novig is sports-only, so there's nothing here in the way of politics, economics, or entertainment markets.
- Deposit fees on some methods: Novig charges 3% on debit card and Apple Pay deposits. They're far from the only prediction market that charges to fund an account, but they could take a page out of Polymarket's book, since Polymarket doesn't charge any deposit or withdrawal fees at all.
How Novig Works
Novig is a peer-to-peer prediction market, meaning you're trading contracts against other users, much like how other prediction markets work.
You buy a contract tied to a sports event and hold it through to settlement. If your prediction lands, each contract you bought pays out $1. If it doesn't, the contract settles at $0 and you lose what you put in.
There's no direct sell option to exit early, so closing a position before settlement means buying the opposite side of the market to offset it.
Make vs. Take: The Core Trading Logic
At the heart of Novig’s system are two actions: Make and Take.
- Make means you set your own price and stake, essentially placing a limit order. If another trader accepts your price, the trade is matched. If nobody takes it, your offer stays pending, and you can edit or cancel it whenever you want.
- Take is the flip side. You accept a price that's already listed, which works like a market order. Click the price you want; the trade locks in right away, and your funds are reserved.
One thing to keep in mind about Make orders is that your pricing options are a bit limited. Instead of letting you name any number, Novig rounds your requested price to the nearest available increment.
Ask for +255, for instance, and the app might bump it to the closest available line at +257 before you confirm. It's a minor catch, but worth knowing if you're used to setting an exact price on a traditional exchange.
Pending Bets and Partial Matches
If a Make offer is not fully accepted, it stays pending. Novig also allows partial matching.
For example, if you want to risk $50 at a certain price and another user is willing to accept only $20, you end up with a partially matched bet, with the remaining $30 still waiting for a counterparty.
How Trades Settle
When a trade is matched, the funds from both sides are held as collateral until the trade is settled. Once the game is settled, the winning side is paid out automatically based on the odds that were locked in at the time of the match.
Novig Fees
ODDS ASSIST RATING: 39/40
Novig charges trading fees only on taker orders, and it uses the formula 0.03 × P × (1−P) per contract to calculate them, with P standing for the contract's price.
With the price-weighting fee model, you pay the most on even-money markets, and the fee tapers toward zero as a contract moves closer to either extreme. The most you'll ever pay is around $0.0075 per contract, which is the lowest of any prediction market.
Makers, on the other hand, don't pay anything at all. Rather than being charged, you actually earn a credit worth up to half of the taker fee for putting liquidity into the market.
Just keep in mind that your credit is tied to what Novig collects from whoever takes the other side of your order, so if that trader's fee ends up reduced or waived, your credit drops right along with it.
Novig Market Variety
ODDS ASSIST RATING: 9/12.5
There are plenty of trading options to work through at Novig. You can take positions on major sports, along with golf, soccer, UFC, and tennis.
Trading options per sport range from totals, moneylines, and spreads to player props, game props, parlays, and futures.
Sports Selection
Here’s a complete look at the sports Novig offers:
- Pro basketball
- Pro football
- Pro baseball
- Golf
- UFC
- Tennis
- Soccer
It’s a nice mix, but there are fewer options compared to Kalshi, which also includes esports and cricket. It’s also a big step down from the 40-sport menu available on Sportzino, one of the major social sportsbooks.
Market Selection
Novig doesn’t offer the same depth of player props and futures you’d find on FanDuel or DraftKings, but it still brings more variety than most other prediction markets, which is why I have it as one of the best apps for sports trading.
Here are some of the cool prop options I’ve come across:
- Points, rebounds, and assists in the NBA
- Team totals in basketball
- First basket markets
- Three pointers made
- Combo bets in basketball (rebounds + assist, triple double)
- Shots on target in soccer
- Player saves in soccer
- Anytime TD scored
- First TD scorer
- Interceptions thrown
- Passing attempts
- Longest rush
- Kicking points
As for futures in the major sports, the selection mostly centers around the championship winner, season awards, and “make the playoffs.”
They also post season specials for football and NCAAF, including markets like “Will Emeka Egbuka lead all rookies in receiving touchdowns?”
Live Trading on Novig
You can fire off picks on Novig even after the game has already started. Just head to the “live” tab, and you’ll see every matchup that’s currently underway. The flow is basically the same as live betting at a traditional sportsbook, just in a trading-style format.
Parlays
Novig also lets you build parlays, so you can bundle multiple picks into a single position. Once you drop two or more selections into the slip, the app takes a couple of seconds to crunch the combined odds before showing you the number.
My Experience Using the Novig App
ODDS ASSIST RATING: 10.5/12.5
Novig has native apps on both iOS and Android, along with a desktop platform for trading. That said, the app started life as a mobile-only product, so it's clearly a mobile-first platform at heart, and in my experience it runs smoother on your phone.
Feedback on the two apps is split. The iOS version holds a 4.7 rating, while the Android version comes in at 4.6.
I went through a good number of user reviews to get a sense of what players think, and most of the praise goes to the trading experience itself rather than the app. On the flip side, the negative reviews rarely knock the pricing or the markets. They tend to focus on usability, with some users reporting login issues or the occasional crash.
Interface and Navigation on the Mobile Apps
You won't get lost on Novig, since everything runs off a bottom navigation bar with 4 tabs and a search button right there with them:
- Home: the main lobby for games and markets
- Points: your tier progress, daily and monthly challenges, and login streaks
- Portfolio: your active and settled positions
- Ranks: the leaderboards where you stack up against other traders
The Account button is tucked into the top-right corner. Tapping it opens your account preferences, where you can edit your personal details, switch your odds format, and request historical data, along with options to contact support and set responsible trading limits.
The overall design looks sharp. The rounded cards, crisp typography, and blue accent color make the important buttons easy to pick out.
Browsing Sports and Market Categories
Anyone who's used a sportsbook or DFS app will settle into Novig quickly, because it follows the same interface pattern.
A horizontal strip of sports lines the top of the screen. Once you choose one, the game listings drop in vertically underneath, with pricing for the three main trading positions: spread, total, and moneyline.
Within a game, the props are sorted into vertical subcategories. Take MLB, where you'll come across batter props, pitcher props, and the rest, each kept in its own section.
One detail I really like is the horizontal player filter below the markets. You pick out a specific player, and Novig pulls up only the markets tied to him, which saves a ton of scrolling.
Odds Format
Novig gives you plenty of flexibility in how you want odds to appear. In the Preferences screen, you can choose:
- American
- Decimal
- Percentage
- “Precise American” (more granular odds)
Given that Novig is exchange-style under the hood, I liked having the option to think in implied probabilities rather than traditional odds.
Trading Slip
Your current balance appears at the top of the order slip, followed by the position you've selected to buy.
You get two tabs, Take and Make, so you can pick whichever order type suits you.
Under those, there's a field to enter your stake next to your potential payout, and any available promos show up at the bottom if you've got one worth using.
Order Book & Liquidity
When you pick a game and open the View Market option, a large chart takes over the middle of the new screen, showing you how that market has traded historically. Below the chart is the market volume, which is basically the market's liquidity.
In plain terms, that's how much money has moved through the market, and it gives you a quick sense of how much interest a position has attracted.
Once you choose a specific position within that game, say Boston to win the moneyline against Toronto in a pro baseball game, the order book appears next to your slip on the right side of the desktop screen.
The order book lays out the price range for the different bids and asks, centered on the odds closest to the one you'd take by default.
Portfolio and Tracking Trades
The Portfolio is where you manage exposure and exit positions. Eligible trades show a Cash Out button with the current offer, and everything else sits there until it settles. You get two sub-tabs:
- Active: current matched bets and still-pending Make orders
- Settled: completed wagers with final results
Since there’s no option to sell out of a position or cash out early, the Portfolio mostly functions as a place to track your exposure and wait for everything to settle.
How Novig Differs from Traditional Sportsbooks
On the surface, Novig looks like a modern sportsbook app, but once you dig in, the mechanics are very different. Below is a breakdown of how Novig compares to a standard sportsbook.
Novig Deposits, Withdrawals, & Payout Speed
ODDS ASSIST RATING: 3.5/5
With Novig on a real-money model, funding your account works like any other trading app. You deposit cash, trade with it, and withdraw your winnings.
Novig has the key methods covered, with debit cards, bank transfers, and crypto deposits all supported.
The best part is that bank transfers and crypto are completely free on both deposits and withdrawals, so you can move money in and out without giving up a cut to fees.
Deposits
Novig lets you fund your account 4 ways: bank transfer (via Plaid link), debit card, Apple Pay, or crypto. Bank transfers and crypto are free, while debit card and Apple Pay each carry a 3% fee, so the cheapest route is to link a bank account or use crypto.
The minimum deposit is $10, which is also what unlocks the welcome bonus.
Withdrawals
Withdrawals go back to a linked bank account, and Novig keeps the free methods labeled clearly so you know what you're paying before you move anything.
To cash out, you need eligible funds in your account, meaning money that has cleared any playthrough tied to a bonus.
When I ran a withdrawal, my standard bank transfer came through free of charge, and my available balance was easy to check right from the withdraw screen.
Novig Customer Support
Novig offers 24/7 live chat support, which you can fire up straight from your account settings. It opens as a mini FAQ with a few preset questions, and if none of those scratch your itch, you can go ahead and reach a live agent. In my experience, they're pretty quick on the draw.
I pinged them on a Monday afternoon, around 4 p.m., to ask about the new loyalty system, and someone was with me in minutes, walking me through it without any of that scripted copy-paste stuff.
On top of the chat, Novig runs a help center that covers a wide range of topics, everything from account questions to trading rules and bonuses. It's a handy first stop if you'd rather dig up an answer yourself before opening a chat.
Novig also has a Discord community you can hop into from your account, giving you a spot to swap advice with other traders or get your questions answered by the crowd.
Novig Responsible Trading
Trading on Novig carries real financial risk, since every position you take can lose, and the fast, engaging nature of an exchange can make it easy to lose track of how much you're putting in.
To its credit, Novig backs up that reality with a good set of tools to help you keep your activity in check.
Here are the 5 trading controls available to you:
- Time Out (Suspend Account): take a break for 1 day, 3 days, 7 days, 1 month, 3 months, or 6 months
- Deposit Limits: cap how much you can deposit on a daily, weekly, or monthly basis
- Order Limits: set daily, weekly, or monthly limits on the size of your orders
- Permanent Account Closure: shut your account down for good by emailing support@novig.co
- SelfExclude: an ecosystem-wide option that lets you exclude yourself across all participating prediction market platforms at once
Setting these up is easy. You head to the Account section and open Trading Limits, or you can handle it through Live Chat or email. One detail I like is the cooling-off period, since lowering a limit takes effect right away, but any request to raise or remove one waits 24 hours before it kicks in.
For anyone who needs support, Novig points to the National Problem Gambling Helpline at 1-800-MY-RESET, along with NCPG resources broken down by state and the 988 line for any crisis.
Novig Background
Novig was launched in 2021 by Harvard graduates Jacob Fortinsky and Kelechi Ukah, both with quantitative and trading backgrounds. Their goal was to address the biggest pain points in traditional sportsbooks: slow-moving lines, hidden vig, and sharp bettors getting limited as soon as they win.
Their answer was a peer-to-peer prediction market where users trade directly with each other and prices move based on supply and demand. The odds are shaped by the market, not by a house algorithm, and winning players are not pushed aside.
Before launching publicly, they stress-tested the platform in a closed beta, processing more than 15,000 orders across over 1,000 markets.
To operate in the United States, Novig partnered with Full House Resorts on a long-term licensing deal in Colorado.
They also built a sweepstakes version of the betting exchange app to reach users nationwide without obtaining full gaming licenses in every state.
The Funding Run
Novig raised money three times in three years, and each round came in several times larger than the one before it.
Lux Capital led a $6.4 million seed round in 2023. The backer list ran from Y Combinator and Paul Graham to Joe Montana and Soma Capital, an unusual mix of startup and sports money for a company that was still small at the time.
An $18 million Series A followed in August 2025. The peer-to-peer model was pulling real volume by then, and the capital went toward a deeper market menu and a larger trading operation.
February 2026 changed the company's scale. Pantera Capital led a $75 million Series B, more than three times what Novig had raised in its two earlier rounds combined, with Multicoin Capital, Makers Fund, and Edge Equity joining the round.
Earlier investors Forerunner, Perceptive Ventures, and NFX all came back in. The round valued Novig at roughly $500 million and pushed total funding past $105 million.
Trading volume had grown tenfold during 2025, and most of the new money came from crypto-focused venture firms rather than traditional gambling investors.
The Pivot to Federal Regulation
State-level pressure on dual-currency sweepstakes platforms changed the math. As states moved to ban the model, Novig's nationwide reach through sweepstakes started to look fragile.
The company filed for a Designated Contract Market license with the CFTC in January 2026, under a separate entity called Ludlow Exchange, LLC, with Fortinsky and Ukah listed as directors.
The CFTC granted the designation on June 16, 2026, roughly five months after filing, which Novig called one of the fastest approvals of its kind. The company had surpassed $5 billion in cumulative volume by that point, and it fully went live on that new real-money model on August 4, 2026.
How the Exchange Is Structured
Novig operates its own exchange, called Ludlow Exchange, and that's where all the trading happens and the order book is housed.
The clearing and settlement, which is the behind-the-scenes process that makes sure each trade actually pays out, is handled by Bitnomial, a separate CFTC-registered clearinghouse.
Every position is fully cash-collateralized too, so your maximum loss is locked in up front and you can never lose more than you put in.
This is a little different from how its two biggest rivals work.
Kalshi and Polymarket both operate their own clearinghouses in-house, while Novig keeps the exchange side in-house and hands clearing off to an independent partner.
For you as a trader, the result is the same: a federally regulated market with customer funds fully backed, but it's a real structural difference worth understanding.
That federal oversight is what lets Novig operate in nearly all 50 states under a single framework, rather than working through state gaming law one market at a time.
It does keep a 21+ age requirement, which is stricter than most prediction markets, since a lot of them allow 18 and up.
Novig FAQs
Is Novig legit?
Yes. Novig is a reputable platform that operates as a federally regulated exchange under the CFTC, the same agency that oversees U.S. futures markets.
Is Novig better than Kalshi?
Overall, I think Kalshi is the better platform, since it offers significantly more markets and some features Novig lacks, like a trading API. That said, Novig has more favorable fees, so it's worth using alongside Kalshi rather than instead of it.
How does Novig make money if there's no vig?
It charges takers a small per-trade fee, up to $0.0075 per contract, instead of hiding a margin in the odds like a sportsbook.
What's the catch with Novig's fees?
Takers always pay the small fee, and maker credits depend on what the other side actually pays, so a waived taker fee shrinks your credit.
Do I have to deposit real money to use Novig?
You can start with the $25 welcome credits and referral credits, but trading past that and withdrawing winnings requires a real deposit.
How fast are Novig withdrawals?
Withdrawals are usually processed within 3 days.
Why can't I use Novig in my state?
Novig covers nearly all 50 states, but it's currently unavailable in Arizona, Michigan, and Nevada. You also have to be 21 or older.
Can I lose more than I deposit on Novig?
No. Every position is fully cash-collateralized, so your maximum loss is locked up front and can never exceed what you put in.
Does Novig have live betting?
Yes. You can trade in-game on many markets, and prices update instantly as the action unfolds and liquidity shifts.
Who owns Novig?
Novig was founded by Harvard grads Jacob Fortinsky and Kelechi Ukah, and its exchange operates as the legal entity Ludlow Exchange, LLC.
86/100
