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Novig Offering Commission-Free Sports Betting in Colorado

Colorado’s newest sports betting operator is not interested in finding a place in the standard sports betting market. Novig, a commission-free sports betting exchange, is looking to establish itself in the Colorado market as a traditional operator until sometime in the theoretical future when Colorado lawmakers OK sports betting exchanges in the state. It’s a risky move that relies on plenty of action by outside parties but, if successful, could put Novig in the driver’s seat of a market niche that could be very lucrative.

Commission-free wagering via betting exchanges is a concept that’s not widely known, or even legal, in most US States. It’s a model that relies on casual players establishing wagers against each other, while the operator charges a small fee to volume bettors; usually professionals. Despite there being no regulatory framework for betting exchanges in Colorado, Novig is bringing a commission-free model to its Colorado debut. Company officials say that they generate revenue, “…by charging market makers and professional bettors,” but it’s unclear if that’s what they’ll be doing in Colorado.

Novig CEO, Jacob Fortinsky was enthusiastic about his company’s entry into the Colorado market in a recent press release saying, “We’re thrilled to introduce our commission-free sports betting app to the vibrant community of Colorado. Novig is committed to delivering a seamless and cost-effective platform that enhances the enjoyment of sports betting. Using Novig really should be a no-brainer for sports bettors: we’re offering the same betting experience users are accustomed to, but better prices, faster in-game trading, more transparency, and a number of innovative features like liquidity screens, position tracking, and partial cash outs.”

Novig currently offers moneyline, spread, and total markets in NFL, NBA, NCAAF, NCAAB, and MLB, but will be expanding its portfolio in coming months.