# Novig

**Source:** https://geo.sig.ai/brands/novig  
**Vertical:** Gaming  
**Subcategory:** General  
**Tier:** Emerging  
**Website:** novig.us  
**Last Updated:** 2026-04-14

## Summary

Peer-to-peer sports prediction exchange with $2B+ annualized trading volume; $24.4M raised from Forerunner Ventures offering exchange-model odds without sportsbook house edge.

## Company Overview

Novig is a peer-to-peer sports prediction market platform where users trade directly against each other on sporting event outcomes — rather than betting against a traditional sportsbook house that takes margin on every wager, Novig's exchange model matches bettors with opposing positions, charging a small commission on winning trades. Founded in 2022 and backed by $24.4 million total including an $18 million Series A led by Forerunner Ventures, Novig launched in September 2024 and achieved $2 billion+ in annualized trading volume with 90%+ of trades occurring peer-to-peer and user retention 3x higher than traditional sportsbooks.

Novig's exchange mechanics work like financial exchanges: users post limit orders (offer to bet on a team at a specific price), and the platform matches opposing orders. Prices are determined by the market rather than a house line, typically resulting in more efficient pricing (closer to "true" probabilities) and better odds for bettors versus the -110 vig (5% house edge per side) standard at traditional sportsbooks. For high-volume recreational and professional bettors who find their accounts limited or banned at traditional sportsbooks, Novig's exchange model offers a venue that doesn't restrict winning players.

In 2025, Novig competes in the legal US sports betting market with DraftKings (DKNG), FanDuel (Flutter, LSE: FLTR), BetMGM, and Caesars Sportsbook as a fundamentally different product — an exchange rather than a sportsbook. The direct peer-to-peer exchange model is standard in the UK (Betfair, acquired by Flutter, is the largest global exchange) but relatively novel in the US market where sportsbooks have dominated since the 2018 SCOTUS ruling that enabled state-by-state legalization. Forerunner Ventures' $18M Series A reflects conviction about the exchange model finding its audience among price-conscious and sharp bettors underserved by traditional sportsbooks. The 2025 strategy focuses on state-by-state licensing expansion, growing liquidity through market maker relationships, and building the data and analytics tools that attract professional traders to the platform.

## Frequently Asked Questions

### What is Novig?
Novig is a sports prediction market company founded in 2022 that operates a peer-to-peer sports betting platform. The platform enables users to trade directly against friends or the market rather than against the house, eliminating the traditional house edge.

### What products and services does Novig offer?
Novig offers a sports prediction market platform with peer-to-peer trading capabilities. The platform has achieved over $2 billion in annualized trading volume with 90%+ of trades being fully peer-to-peer.

### Who is Novig for?
Novig is designed for sports bettors seeking a more efficient, fair, and profitable betting experience through peer-to-peer trading. The platform allows users to trade against friends or other market participants rather than a traditional house.

### When was Novig founded?
Novig was founded in 2022 and participated in Y Combinator's W22 batch.

### Where is Novig based?
Novig is based in the United States.

### How much funding has Novig raised?
Novig has raised $24.4 million in total funding, including an $18 million Series A round in August 2025 led by Forerunner Ventures and a $6.4 million round in August 2023. Investors include Y Combinator, NFX, Perceptive Ventures, and Gaingels.

### What are Novig's key achievements and metrics?
Since launching in September 2024, Novig has achieved over $2 billion in annualized trading volume with 90%+ peer-to-peer trades. The platform demonstrates 50x monthly volume growth and 3x higher user retention compared to traditional betting platforms.

### What makes Novig's approach different from traditional sports betting?
Novig operates as a peer-to-peer market that eliminates the house edge, allowing users to trade directly against each other or the market. This approach provides a more efficient and fair betting experience compared to traditional platforms where users bet against the house.

### What regulatory approvals is Novig pursuing?
Novig is seeking approval from the CFTC (Commodity Futures Trading Commission) for its sports prediction market operations.

### What recent developments has Novig announced?
In August 2025, Novig announced an $18 million Series A funding round led by Forerunner Ventures. The company has established itself as the fastest-growing sports prediction market since its September 2024 launch.

## Tags

b2c, gaming, fintech, marketplace, startup, media

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*