Details on the New Brand
Novig completed seed funding of $6.4 million last year, with investors including Joe Montana, CapitalX, TRAC, Soma Capital, and others helping to boost the company to launch. By October 2023, Novig secured an Internet Sports Betting Operator license in Colorado and, in January 2024, launched a free sports betting app in the state.
However, the service was short-lived, and the company decided to change its product direction after just three months of operation. Due to approval issues, Novig could not offer betting exchange services in Colorado, so the company exited the market and switched to a sweepstakes model.
The bones of the sports services were there already, with Novig able to offer sweepstakes players moneyline, point spreads, total markets, and player props on various sports. New members can access picks on MLB, NBA, NFL, WNBA, and NCAAB.
The company plans to offer even more in the next few months, including futures, parlays, and SGPs.
Limited Operations
Novig is open to players 21 and older in select US states. Players in Alabama, Colorado, Idaho, Louisiana, Michigan, Montana, Nevada, and Tennessee cannot access the sports pick service.
Once an account is created, players can use Novig Coins to make picks or test strategies. Novig Cash can be used similarly but is eligible to redeem real prizes.
Jacob Fortinsky, the CEO and co-founder of Novig, stated that players are fed up of playing on apps where the house always wins and the odds are stacked against them. With Novig, the company says that 43% of players are profitable, which is much higher than the 3% industry average.
Novig is reportedly the first app to offer a commission-free sports prediction market. The brand joins other sports-based sweepstakes sites and apps like Fliff, Thrillzz, and Sportzino. These operators use some form of Gold and Sweeps Coins for members to place picks on all sorts of sports markets.
