US sports betting exchange start-up Novig has secured a place in the accelerator portfolio of Silicon Valley’s Y Combinator, a fund that gave rise to the likes of Airbnb, Stripe, Dropbox and Coinbase.
IGAMING NEXT Betting Exchange Start-Up Novig Nets Backing From Famed Silicon Valley Accelerator
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Traditional sportsbooks charge bettors a heavy transaction fee, known as “the vig.” This ~8% fee results in the house always winning. Novig charges no fees to users, eliminating the vig and making sports betting strictly more profitable.
Rather than charging users a fee, we generate revenue from institutional traders, those looking to take advantage of our premium analytics tools, and through internal market making.
The best way to stay informed about our upcoming launch is to sign up for our waitlist here. If you are interested in becoming a beta tester, reach out to email@example.com for more information.
NBX is the first high-frequency, commission-free peer-to-peer sports betting exchange. NBX allows you to bet against friends or the market, instead of the house. Initially, the four major US sports will be available (NFL, NBA, MLB, NHL). Users will be able to place bets on the Moneyline, Point Spread, Game Totals, and Team Futures, both pre-game and in-game.