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Novig is a sports event-contract platform using real money. You select a sporting outcome and buy or sell a contract whose value depends on that outcome. A contract price, your entry cost, and its final payout are different numbers.
This guide was checked October 6, 2026. It explains the current model using official product documents and regulator records, with an invented arithmetic example. It does not report a personal trading test or rank Novig against other venues.
What changed from the older Novig model?
The current Novig help page says Novig Cash and Novig Coins are retired. Activity now uses one real-money account, and remaining Novig Cash balances were converted to USD. An older guide about free-play coins or sweepstakes redemptions can therefore describe a different product.
Check the date and product version behind a search result. A familiar logo does not make an old funding rule, promotion, or settlement example current. Use the terms shown in your own account and the governing contract for the position you are considering.
The regulatory record and its limits
The CFTC record for Ludlow Exchange, LLC shows Designated status dated June 16, 2026. The associated application cover sheet lists Novig’s website for the holding company. The designation order describes the exchange’s electronic order book and fully collateralized clearing model.
That record establishes a regulatory milestone. It does not establish that a particular trade is attractive, that a requested quantity will fill, or that every legal dispute involving sports event contracts is resolved. Keep registration, current platform access, contract mechanics and investment outcomes separate.
How does Novig work?
- Select the exact question. A team-winner contract, spread and player prop ask different questions. Read the threshold and selected side.
- Inspect the quote and quantity. Your intended order can differ from the size currently available at the displayed price.
- Calculate entry cost. Multiply filled contracts by their entry price, then account for applicable charges.
- Track the position. A later quote can differ from your entry; a displayed gain is not the same as completed sale proceeds.
- Reconcile the final outcome. Use the venue’s contract-specific settlement and transaction records.
This is a research workflow. Before an actual order, check the venue’s current interface, account requirements and terms. A calculation cannot determine whether your account is eligible or whether liquidity is available.
Price, probability and payout: an invented example
For a standard binary contract that pays $1 if the selected outcome occurs and $0 otherwise, suppose a hypothetical entry buys 100 contracts at 62¢, with $2 of total entry charges. Those charges are invented; they are not a statement of Novig’s fee schedule.
| Quantity | Calculation | Result |
|---|---|---|
| Contract purchase cost | 100 × $0.62 | $62 |
| Total entry cost | $62 + $2 | $64 |
| Gross payout at $1 settlement | 100 × $1 | $100 |
| Net at $1 settlement | $100 − $64 | $36 |
| Net at $0 settlement | $0 − $64 | −$64 |
Ignoring the additional charge, 62¢ corresponds to a 62% implied probability for that $1/$0 payout structure. Including this example’s entry cost, the simple hold-to-settlement break-even probability is 64%. Your own forecast can differ from the market price; neither number guarantees the result.
The calculation excludes later transactions, different payout rules and venue rounding. Use our profit calculator to explore your own hypothetical inputs and the odds guide to understand the price interpretation.
An early sale requires an available counterparty
Separate the latest displayed price from a price you can actually transact at for your size. A wide spread or small available quantity can change exit proceeds. A favorable prediction can still produce an unattractive entry when the expected advantage is smaller than the cost of execution.
Before comparing venues, normalize the payout, quantity, fees and exact contract rules. Read the slippage guide for why a reference price does not determine a completed fill. It explains the concept rather than supplying Novig quotes.
Which rules determine a Novig settlement?
Novig’s September 2 market-rules notice says contracts replaced the previous rules. Its Contracts directory links separate specifications by sport and series. Read the specification for the actual question you hold.
For player props or disrupted events, verify participation requirements, postponement treatment, overtime, grading sources and any special payout provision in that contract. Do not transplant a sportsbook’s injury policy or an older Novig sweepstakes rule into a current event contract.
Save the contract wording and order confirmation. A sports result reported in the news does not by itself answer every detail of the venue’s settlement rule.
Check access before funding
The current eligibility page lists Arizona, Nevada and Michigan as excluded physical locations. It also requires age 21 or older and identity verification. Location at the time of trading matters, including during travel. Recheck the current policy rather than relying on an older state-count headline.
This guide describes the platform’s published access policy. It does not provide a state-by-state legal ruling. If the app blocks an action, use the official eligibility and support process; changing your billing address is not evidence of physical eligibility.
For the dated state policy and travel implications, read the Novig availability guide.
Deposits, withdrawals and available cash
Deposit clearing, withdrawal review and payment-provider delivery are separate stages. Read the Novig withdrawal-time guide for current published expectations, minimums and balance holds.
Comparing signup offers? Read the Novig bonus and trade-credit guide for dated deposit and referral conditions.
Is Novig the same as Alphascope?
Novig handles its own contracts, account and execution. Alphascope provides independent research using prediction-market odds, forecasts and news. It does not access Novig balances, place Novig orders or provide a Novig order book. See the Novig vs Alphascope comparison for the distinction.
Use research to make assumptions explicit. Then verify the precise contract and current order economics with the trading venue. A well-organized research page cannot remove uncertainty from a sports outcome.