February 10, 2024

Talking Super Bowl, Sportsbooks, and Betting With Novig’s Head of Trading

Tell me about yourself! What do you do at Novig? 

I’m Henry Kerins. I’m an engineer, and Novig’s head of trading. I created much of our trading software, and I run the trading team. All of our traders are also engineers or researchers -- we’re a small company. Everyone here has to work really hard and do a million things at once. 

How’d you end up at Novig? 

I was at Bloomberg for seven years as an engineer… and I was also betting on sports for a good chunk of that time. Then I made the jump to Novig.

What makes Novig different from your average sportsbook or exchange?

If you log on to Novig today, you’re getting low prices, instant bet confirmation, and you won’t be limited. You can always bet with us -- even if you’re picking off bad lines. No matter what you’re doing, we want your business. We want to get better to the point where we’re not worried about that anymore. 

We have very tight bid/ask spreads and very low prices with no commission. What you see is what you get. If you’re looking at pricing on an odds screen from other exchanges, you may want to double check to see if a commission is factored into their number. 

In the very near future, what’ll separate us from most sportsbooks is the ability to set your own price and make bids at any quote you want. And unlike other companies that offer a similar product, we have no commission. If you take something at even money, and someone wants the other side at even money, we’re the only place in America where you can actually get that even money price, and where the marketplace isn’t taking some piece for themselves. 

Who do you like in the Super Bowl?

I took the Niners at open, so I'll be rooting for them. If we were completely risk neutral, we would be trading this game at KC +115/-128. But we've taken a ton of Chiefs money, so we're currently sitting at +111/-123. The domestic retail books have been a hair shorter on the Chiefs than the offshores all week which makes sense, the public loves Mahomes as a dog.

Like all NFL games, you can look at a million different ways and talk yourself into either side. And after Sunday, it will all look so clear in retrospect.

Bet the Super Bowl right now on Novig. New users get up to $250 in bonus funds (T+C's apply).

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We have answers

What will be available when Novig launches in CO?

Exchange wagering is not currently approved. Until it is, Novig will operate as an Internet Sports Betting Operator. We’ll then transition to offering our full platform as soon as we get the green light from the regulators.

How will Novig make money without charging fees on trades?

We plan to shift the fundamental business model of the industry away from charging users indiscriminately to only charging the greatest winners on the platform. Until the new Exchange Regulations are passed we will primarily generate revenue by operating as an Internal Market Maker, but when we launch our full exchange, we plan to implement with regulatory approval a fee structure for users whose lifetime profits exceed $10,000 and we will begin to productize and monetize our proprietary research and trading models. This business model allows us to provide commission-free betting for the overwhelming majority of our users, while ensuring that our exchange is sufficiently liquid and sustainable.

When will Novig be available?

The best way to stay informed about our upcoming launch is to sign up for our waitlist here.

What types of bets will be available on Novig?

Initially, Novig will support Moneyline, Spread, and Totals markets for MLB, NFL, NBA, NCAAF, and NCAAB matches, and Player Props for professional sports. We’re actively working to begin offering markets for NHL, soccer, tennis, golf, and other sports, as well as other types of bets in the sports we currently support. If there are certain markets you would like to see on Novig, please feel free to reach out at hi@novig.co.