- Novig has announced the launch of a sweepstakes based sports prediction market in 42 states and the District of Columbia.
- Novig launched briefly in Colorado earlier this year only to depart four months later.
- Look for other sportsbooks to use the ‘sweepstakes’ route as a temporary lifeline.
Novig has launched the first sports prediction market available in 42 states and Washington D.C., operating under the sweepstakes regulatory framework. The platform offers two modes: Novig Coins for fun and strategy testing, and Novig Cash, where players can redeem real cash prizes.
Sports fans in states including Alaska, California, Florida, New York, Texas, and more, as well as Washington D.C., can now access the platform. Players must be 21 or older to participate in real-money play. Novig’s unique commission-free sports prediction market is available to users via iOS, with an Android version set to release soon.
“Players are fed up with having to play on apps where the house always wins and the odds are stacked against them,” said Jacob Fortinsky, Co-Founder and CEO of Novig. “On Novig, 43% of users are profitable — compared to an industry average of 3% — and we’re the first app to offer a commission-free sports prediction market. We were overwhelmed by how well we did in Colorado, and we’re beyond excited to now be able to offer our revolutionary app to sports fans nationwide!”
The platform currently supports a variety of sports, including the NFL, NBA, WNBA, NCAAF, NCAAB, and MLB, with markets for moneyline, spread, total bets, and player props. Novig plans to expand its offering in the coming months, adding parlays, Same Game Parlays (SGPs), futures, more sports, and a web-based trading interface to enhance the user experience.
Last year, Novig completed a $6.4 million seed funding round from prominent investors such as Lux Capital, Y Combinator, Paul Graham, Joe Montana, Soma Capital, and others. The company is focused on scaling its platform and becoming a major player in the sports betting market.
Novig was founded by Jacob Fortinsky and Kelechi Ukah, with a team coming from top Silicon Valley and Wall Street firms. Based in New York City, the company is backed by investors including Y Combinator, Lux Capital, Soma Capital, and founders of Instacart and Dropbox. Novig’s goal is to revolutionize the sports betting industry by offering a commission-free, user-friendly platform. For more information, visit novig.us or follow them on X or LinkedIn.
