Quick Facts

ProductNovig
CategoryCFTC-regulated sports prediction exchange
Best forPeer-to-peer sports predictions
Main benefitNo-vig / peer-to-peer positioning
AvailabilityCFTC-regulated exchange open to users 21+ physically in the U.S.; Novig does not currently operate in Arizona, Michigan, or Nevada.
Main riskPrediction losses, eligibility rules, promo restrictions
Finance App Radar Score8.2/10
Current offerDeposit $10, get $50 in trade credits (new members) - verified Oct 2026

What Novig is (and what it is not)

Novig is a sports prediction exchange. You do not bet against the house: you buy yes/no contracts from other users, and the exchange only matches orders. Since June 16, 2026 its exchange entity, Ludlow Exchange LLC, is a designated contract market (DCM) regulated by the Commodity Futures Trading Commission (CFTC), and the app relaunched on that exchange on August 4, 2026.

That makes it legally different from a sportsbook such as Hard Rock Bet, which is licensed state by state and sets its own odds. Novig started as a Colorado sportsbook in January 2024 and later ran a sweepstakes product; both are retired. Whether states can apply their gambling laws to federally regulated sports contracts is still being fought in court, including a federal suit Ludlow filed against New York.

Novig fees, exactly

Novig does not build a margin (the vig) into its prices. It charges a fee only to the taker, the side that fills an existing order, using one formula: fee = coefficient × price × (1 − price) × number of contracts. Makers, whose resting order gets filled, pay $0. Fees are added to the cost of entering the trade; winning contracts still pay $1.00.

Trade typeTaker coefficientExample: 100 contracts at $0.50
Pre-game straightNo fee$0.00
Live straight (most sports)0.03$0.75
Live NCAAF spreads/totals0.06$1.50
Futures0.06$1.50
Parlays0.10 (built into the parlay price)$2.50
  • The fee is largest at a $0.50 price and shrinks toward $0 as the price nears $0.01 or $0.99.
  • Posting your own price (making) avoids the fee entirely on straight trades.

Who owns Novig and how much it is worth

Novig is a New York-based startup led by co-founder and CEO Jacob Fortinsky. Its reported funding: an $18 million Series A in August 2025 led by Forerunner Ventures at a $90 million valuation, then a $75 million Series B in February 2026 led by Pantera Capital at a $500 million valuation (Forbes). On September 30, 2026 The Wall Street Journal reported new funding at about four times that valuation, roughly $2 billion; Front Office Sports reported the round was still being raised. Actress Sydney Sweeney took equity in the company instead of a cash fee for its ads.

None of this changes your risk as a user: valuation is not a deposit guarantee. What protects customer funds on a DCM is the clearing structure. Novig's trades clear through Bitnomial Clearinghouse, a CFTC-registered clearinghouse, on a fully collateralized basis.

Novig app reviews: what the ratings and users say

On October 9, 2026 the iPhone app (listed as Novig: Prediction Market, by Novig, Inc.) held a 4.6 out of 5 rating from about 5,700 ratings and ranked #2 among free Sports apps on the U.S. App Store. On Google Play the Android app (Novig Labs) showed 4.6 from about 1,510 reviews and 100K+ downloads. Both stores rate it 18+.

The praise is consistent: payouts that reach the bank quickly, prices without a built-in house margin, and fast hand-off from the support bot to a person. The complaints cluster too. Android users report freezing and lag after updates, some users had a bank link rejected by the payment processor, and long-time members say withdrawals feel slower than in the old sweepstakes version. Ratings are a snapshot; read the newest one-star reviews before you deposit, because they show what is breaking right now.

  • Is Novig legit? It is a real, CFTC-regulated exchange (Ludlow Exchange LLC) whose trades clear through a CFTC-registered clearinghouse. Legit is not the same as low-risk: you can lose what you trade.
  • Is Novig free? Signing up and pre-game straight trades cost nothing in fees; the $50 in Trade Credits needs a $10+ first deposit, expires after 30 days, and cannot be withdrawn as cash.

Is Novig a sportsbook or a betting app?

Functionally it lets you take a side on a game for money, so treat it with the same budget discipline as betting. Legally it is a federally regulated exchange of event contracts, not a state-licensed sportsbook, which is why it can operate in states that have no legal sports betting. It is 21+ only. Losses are real and the $50 new-member Trade Credits cannot be withdrawn as cash.

Why We Like Novig

  • Peer-to-peer exchange: You trade against other users on an exchange, not against a sportsbook setting the odds.
  • Market-set prices: Prices come from other traders rather than a built-in sportsbook margin; check the app for any trading fees before you start.
  • Federally regulated: Novig operates as a CFTC-designated contract market with market surveillance, a 21+ policy, and published responsible-trading controls.

What to Watch Out For

  • Novig is not a way to guarantee profit.
  • Users can still lose money.
  • Availability and eligibility rules apply.
  • Promo and referral conditions may vary.

Referral link

Novig referral code or link

Our link opens Novig's official sign-up page with the referral already attached; there is no code to type. Start here: https://financeappradar.com/go/novig.

Last checked: October 22, 2026. Terms change; the company's page wins.

Current Novig Offer

Our referral linkhttps://financeappradar.com/go/novig
Offer statusNew members get $50 in Trade Credits after a first deposit of $10 or more.
RequirementSign up, verify identity, and make a first deposit of $10 or more.
Payout timelineTrade Credits are issued after the qualifying deposit and expire 30 days after issuance; the program runs from Oct 1, 2026 for one year unless changed.
Important limitationMust be 21+ and in a state where Novig operates (not AZ, MI, or NV); one offer per person; Trade Credits work only on contracts priced $0.01 to $0.60 and are for trading, not withdrawable cash. Event-contract trading carries real loss risk.

Claim $50 on Novig

How Novig Works

  1. Create an account, verify your identity, and confirm you are 21+ and physically in a state where Novig operates (not Arizona, Michigan, or Nevada).
  2. Fund the account. Novig shows any deposit fee before you confirm; third-party reviews report bank transfers as free and card or Apple Pay deposits at about 3%.
  3. Pick a market: game outcomes, spreads, totals, player props, or futures. Each contract pays $1.00 if it settles Yes and $0 if it settles No.
  4. Buy at the price shown (the price is the market's implied probability) or post your own price and wait for another user to fill it.
  5. Close early at the current market price on eligible straight positions, or hold to settlement. Winning contracts pay the full $1.00 each.

Is Novig Safe?

Sports betting and fantasy contests are for eligible users only. Age and location restrictions apply. Never treat betting, contests, or promos as income. If gambling is causing stress or loss of control, use state responsible gaming resources. Key risk to understand: Prediction losses, eligibility rules, promo restrictions. Review current official terms, eligibility, fees, limits, privacy practices, and offer requirements before signing up.

Who Should Use Novig

Novig may be a good fit if you:

  • Users who understand sports probabilities.
  • Users interested in peer-to-peer sports predictions.
  • Users located in eligible states.

Who Should Skip Novig

You may want to skip it if you:

  • Users looking for easy money.
  • Users who cannot tolerate loss.
  • Users who do not understand market-style pricing.

Final Verdict: Is Novig Worth It?

If you already bet on sports, Novig's pricing is hard to argue with: no built-in house margin, and you can avoid fees entirely by posting your own price. The risk doesn't change, though. Losing contracts pay zero, so keep the same budget you would at any sportsbook.

Novig FAQ

What is the Novig app?

A CFTC-regulated sports prediction exchange (Ludlow Exchange LLC) where you buy yes/no contracts on games from other users. Each contract pays $1.00 if it settles Yes. It is open to users 21+ in every state except Arizona, Michigan, and Nevada.

How much is Novig worth?

It raised $75 million at a $500 million valuation in February 2026 (Forbes). The Wall Street Journal reported on September 30, 2026 that new funding valued it at about four times that, around $2 billion; other outlets said the round was still open.

Is the Novig app legit?

Yes. It is run by Ludlow Exchange LLC, a CFTC-designated contract market, and trades clear through Bitnomial Clearinghouse. On October 9, 2026 it was rated 4.6 on both the App Store (about 5,700 ratings) and Google Play (about 1,510 reviews). Legit does not mean safe for your money: event contracts can lose 100% of what you put in.

What do Novig app reviews complain about?

Mostly Android freezing and lag after updates, bank links rejected by the payment processor, and withdrawals that some long-time users find slower than before. Positive reviews point to quick payouts and prices with no house margin.

Does Novig charge fees?

Only takers pay, using fee = coefficient × price × (1 − price) per contract: no fee on pre-game straight trades, 0.03 on most live trades, 0.06 on futures, 0.10 on parlays (Novig Help Center). Makers pay nothing.

What makes Novig different?

Novig is a CFTC-designated contract market: users trade sports event contracts with each other rather than betting against a house. Its old sweepstakes currencies (Novig Cash and Coins) were retired in 2026.

Can users lose money on Novig?

Yes. Sports predictions can lose money, regardless of fee structure.

What is the active Novig referral code or referral link?

Our link opens Novig's official sign-up page with the referral already attached; there is no code to type. Start at https://financeappradar.com/go/novig. Offers, eligibility, and bonus requirements can change, so review the live terms before signing up.

Novig head-to-head comparisons

Sources checked

Checked October 22, 2026.