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Novig

Fintech · New York City, United States · Founded 2021

Novig is a revolutionary sports betting platform that aims to democratize the betting industry by giving bettors the power to set their own odds. Unlike traditional betting platforms that operate on a commission basis, Novig operates on an exchange model, eliminating the house edge and allowing bettors to keep all their winnings. This model is particularly appealing to high-frequency bettors and heavy hitters who are often subject to limits and lockouts on other platforms. Novig serves a broad market of sports bettors, with a particular focus on those who are dissatisfied with the traditional betting model. The company operates in the sports betting market, which has seen significant growth in recent years, particularly in the United States following the legalization of sports betting in many states. Novig's business model is unique in the industry. The company operates as an Internet Sports Betting Operator, but plans to transition to a full exchange model once it receives regulatory approval. This model will shift the industry's business model away from charging users indiscriminately to only charging the greatest winners on the platform. Until the new Exchange Regulations are passed, Novig will primarily generate revenue by operating as an Internal Market Maker. In terms of security, Novig leverages the same infrastructure trusted by top trading firms and securities exchanges to ensure the security of users' information, bets, and payments. The company recently launched its first-of-its-kind commission-free sports betting app in Colorado and announced a partnership with Intelitics. Keywords: Sports Betting, Exchange Model, No Commission, Set Your Own Odds, High-Frequency Bettors, Internet Sports Betting Operator, Internal Market Maker, Secure Infrastructure, Commission-Free App, Intelitics Partnership.