Last updated: October 9, 2023

NOVIG SPORTS BETTING CHAMPIONSHIP TERMS AND CONDITIONS

  1. Eligibility:
  • (a) There is no fee to enter the championship.
  • (b) Participants must be at least 21 years of age and must be located in the United States but not in Washington State.
  • (c) Participants are limited to one (1) account per individual.
  • (d) To enter the championship, participants will first need to sign up through the form listed on novig.us/25kchamps. The week of the tournament, participants will need to download the test software and the Novig app. Participants must create an account to be considered for the prize pool.
  1. Tournament Duration:
  • (a) The tournament will run from 12pm ET on Thursday, October 5 until the completion of the last MLB or NFL event beginning the night of Monday, October 9.
  1. Participation:
  • (a) By participating in this tournament, you agree to these Terms and Conditions.
  1. Betting Credit:
  • (a) Each participant will receive a virtual betting credit of $10,000 in play money on October 5.
  • (b) This credit is "play money" and holds no real-world value, cannot be withdrawn or transferred, and must be used on the Novig platform.
  • (c) Only issued bet credits can be used in this tournament, under no circumstances can a user wager with real money during the tournament. Users cannot enter or reenter with real money. Wagers placed with bet credits do not constitute real money sports betting.
  1. Tournament Play:
  • (a) Credits will be deposited into users' wallets at 12pm ET on October 5, and trading hours will be 24/7.
  • (b) All participants will be added to a private Discord channel, where a leaderboard will be posted periodically.
  1. Prizes:
  • (a) Prizes will be awarded based on the players’ total balance at the end of the tournament.
  • (b) Participants in the first to fiftieth places will cash prizes of varying values as detailed in the invitation.
  • (c) All participants will receive up to $250 deposit match in Bonus Funds on the Novig platform at the official launch. Novig will match 100% of your first deposit, up to $250, paid in Bonus Funds. Bonus Funds awarded have a turnover requirement of 5X the awarded amount (e.g. an award of $100 in Bonus Funds would require $500 in wagers before withdrawal). Ts and Cs apply. Offer is redeemable upon Novig's real-money gaming launch in Colorado. Novig is pending regulatory approval from the Colorado Division of Gaming. Gambling Problem? Call 1-800-Gambler. Must be 21+ and present in Colorado. Gamble Responsibly.
  • (d) All participants will receive a 7-day free trial trial and 20% off for three months any OddsJam plan.
  1. Prize Distribution:
  • (a) All prizes will be distributed within 30 days of Novig's official launch.
  • (b) All prizes will be distributed electronically through bill.com. Participants must sign up by the end of the tournament in order to be paid.
  1. Data Usage:
  • (a) By participating in the tournament, users agree that Novig can collect and use their data for the purposes of running the tournament and improving the Novig platform.
  1. General:
  • (a) The tournament is void where prohibited by law.
  • (b) Novig reserves the right to cancel, terminate, modify, or suspend the tournament if it cannot be run as planned for any reason.
  • (c) Novig reserves the right to void any participant's entry at Novig's discretion.
  • (d) Novig reserves the right to void any participant's entry upon discovery of any form of collusion with another participant's entry. Novig further reserves the right to terminate the accounts of any participants involved in any form of collusion.
  • (e) Any questions, comments, or complaints regarding the tournament should be directed to Novig Support.
  • (f) User agrees to opt-into email communications from Novig and The Game Day.
  • (g) User agrees to opt-into Novig’s early access waitlist. 
Please ensure that you understand and agree to these Terms and Conditions before participating in the tournament. By joining the tournament, you indicate your full acceptance of these Terms and Conditions.

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Questions?
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.