Novig Review: Pros and Cons Of This Peer-To-Peer Sportsbook
Are you tired of dealing with high fees and account restrictions from traditional online sportsbooks? This Novig review explores the pros and cons of this peer-to-peer sportsbook, highlighting how it eliminates the “vig” and offers a fairer betting experience.
Available in more than 40 US states, NOVIG operates as a sweepstakes sportsbook. It allows players to make predictions using non-premium NOVIG Coins or premium NOVIG Cash for a chance to win real cash prizes. It also serves as a market maker for less popular sports events, enabling users to set their own odds.
In this article, we’ll dive into NOVIG’s bonuses, promotions, safety, payment methods, and overall experience to help you decide if it’s the right platform for your betting needs.
Novid Welcome Offer
NOVIG quick review
NOVIG is a peer-to-peer online sports wagering service available to contestants in 40+ US states. To participate, contestants must be at least 21 years old.
The platform’s sweepstakes business model allows players to compete against each other with non-premium NOVIG Coins at any time.
One of NOVIG’s main draws is that the site doesn’t charge a commission (vig) for peer-to-peer contests. But there are other attractions, too.
Players can choose to “set their own odds” if the provided lines are not to their liking. If a contestant from the community presents itself, the player who set the odds will be able to compete.
If not, then the offer is automatically canceled, with no further action required.
This provides an extremely nuanced model for players who have performed research on their own end and desire odds that are more in line with pregame study methods.
If you are a casual sports fan who doesn’t want to play with NOVIG Cash, you can just as easily enter a contest with no purchase necessary, as long as there is another member on the NOVIG platform who chooses the other side.
Popular sports markets include the NFL, NBA, WNBA, UFC, MLB, NCAAF, NHL, MLS, PGA, NASCAR, Formula 1, and other leagues throughout the country.
In cases where there is insufficient liquidity to find a peer competitor, NOVIG will act as a market maker and take the other side of the proposed or published odds.
In these cases, NOVIG will typically charge 1% to 4% to cover market making expenses.
If you are playing with NOVIG Cash, then you will need to satisfy KYC and AML requirements upon soliciting your first cash prize redemption (there is a minimum of 20 NVC necessary to redeem).
To purchase NOVIG Coins (which come with NOVIG Cash as an extra bonus), you will need to link your bank account via Trustly or use a major credit/debit card.
NOVIG Cash has a conversion rate of 1-to-1 when claiming cash prizes – you must be 21+ to become a member.
To claim NOVIG Cash and redeem it for cash prizes, setting up a link between your personal banking account and NOVIG using Trustly is your sole option.
Pros
- Play for free (NOVIG Coins) or for NOVIG Cash to have a chance to win cash prizes
- Set your own odds option
- Commission-free peer to peer contests (market maker excluded)
- Lots of wager types (moneyline, spreads, O/U, and even in-game for certain markets
- All popular markets and many wager types
- Market maker possible for less popular sports or events
- Highly intuitive platform with plenty of useful features
- Extra giveaways and promotions for all players
Cons
- Blocked in Alabama, Colorado, Idaho, Louisiana, Michigan, Montana, Nevada, and Tennessee
- Limited purchasing and redemption options (Trustly online banking only for cash prizes)
- Lacks a VIP program for high rollers
NOVIG sweepstakes sportsbook general overview
| Feature | Details |
|---|---|
| Sweepstakes Sportsbook Name | NOVIG Sweepstakes Sportsbook and Betting Exchange |
| Parent Company | Created by venture capital firms and angel investors including Joe Montana |
| Year Founded | 2023 |
| License | Colorado Division of Gaming |
| Minimum Age | 21 |
| # Of Games | All popular sports markets + market making for less popular ones |
| Types Of Games | Peer to peer sports wagering exchange |
| Live Casino? | No |
| VIP Program | No |
| Payment Methods | Major Credit/Debit Cards and Trustly (online banking) |
| Mobile App? | Yes -- download iOS (App Store) or Android (Google Play) |
| Premium Coin Minimum Playthrough | 1x |
| Customer Service | Live Chat, Email, Social Media platforms |
| Excluded States* | Alabama, Colorado, Idaho, Louisiana, Michigan, Montana, Nevada, and Tennessee |
| Available states* | Currently available is 42 US statwide jurisdictions (subject to change) |
The story of how NOVIG was created is a compelling tale of raising $7 million from venture capitalists and angel investors, including NFL Hall of Fame quarterback Joe Montana, Y Combinator, Paul Graham, and Lux Capital.
Founded in 2023, the NOVIG sports betting exchange debuted in the state of Colorado during that calendar year under a license provided by the Colorado Division of Gaming.
The sweepstakes sportsbook model is a new twist and allows members (21+) to compete against each other in a peer-to-peer environment for free or for the chance to win sweepstakes prizes by using premium coins.
There is a LOT to like about the NOVIG platform, in my opinion.
For one, savvy sports fans can actually set their own odds if they find the default odds published by NOVIG to be unsatisfactory.
The contest automatically becomes “live” and appears on the player’s account Order Slip as soon as a competitor accepts – and correspondingly cancels out automatically if no contestant accepts the offer.
Another great thing about the NOVIG Sweepstakes Sportsbook Exchange is that the platform itself may decide to act as a market maker if a member wants to place a prediction on a sport or contest that has no or low player liquidity.
NOVIG usually charges 1%- 4% for these market maker contests but doesn’t take any amount from peer-to-peer contests.
Contrary to most other sweepstakes companies that offer some form of online gaming or wagering, NOVIG has its very own dedicated app.
You can download the app from the Google Play Store (for Android devices) or the Apple App Store (for iOS smartphones and tablets).
A browser version is provided for PC users who are participating in contests from their home office or in-house gaming area.
There’s also a very low minimum redemption for premium NOVIG Cash – you’ll only need 20 NVC to solicit a cash prize.
At the moment, you can only receive cash prize redemptions into your personal checking or savings bank account using the Trustly service. Coin packages, on the other hand, can be purchased through online banking or by using a major credit/debit card issued by VISA, Discover, or MasterCard.
While NOVIG doesn’t charge processing fees for purchases or redemptions, your card issuer may tack on “cash advance” fees to purchases (check with your financial institution to see if this is the case).
NOVIG ratings summary
How NOVIG works
NOVIG works just like a traditional sportsbook does, with four key exceptions:
- Members can compete against each other in a peer-to-peer format.
- Members can compete against each other for free using NOVIG Coins or with a chance to win cash prizes using NOVIG Cash.
- Instead of withdrawing actual cash or playing for real money, players must obtain redeemable NOVIG Cash if they want to have a subsequent opportunity to request a redemption to their personal checking or savings account. In other words, there is “technically” no real money wagering on the NOVIG Sweepstakes Sportsbook site/app.
- Members can also compete against NOVIG itself in cases where liquidity is low or a market is not very popular. For these PvE contests, the site/app will take a 1% to 4% commission, but no commission is taken from peer–to–peer contests.
NOVIG bonuses and promotions
The bonuses and promotions at NOVIG allow you to try out this Sweepstakes Sportsbook with no purchase at all. You can sign up through the links on this page and get 1,000 NOVIG Coins plus 5 NOVIG Cash once your account has been verified.
Once you’ve gained access to the platform as a new customer, NOVIG offers the option to obtain 10 more NOVIG Cash. However, you must log in for 25 consecutive days to be eligible for the bonus.
Overall, the offer of 15 premium NOVIG Cash is extremely generous for a no-deposit bonus on a sweepstakes platform.
As far as NOVIG Coins are concerned, these can be reloaded for free as soon as your balance is less than 100 non-premium coins. Simply go to the cashier module and request more NOVIG Coins, and you’ll be good to go.
You’ll also find other opportunities to pick up non-premium coins—through social media posts, joining the site’s Discord channel, and writing a request.
You can enter sweepstakes separately by writing and sending a request to:
- NOVIG SWEEPS, LLC
- 169 Madison Avenue #2199
- New York, NY 10016
To acquire more NOVIG Cash, you will have to buy NOVIG Coins packages that start at $5 and go all the way up to hundreds of dollars. All premium packages include a specified amount of NOVIG Cash for free.
The minimum redemption amount for NOVIG Cash is 20 units. The maximum per transaction is 5,000 NOVIG Cash units, with a maximum cap of 10,000 per 24-hour time period.
Overall Rating: 9.0 out of 10
The wide array of NOVIG promotions for new customers makes for an extremely welcoming experience for both new and returning customers. The available bonuses are a cut above most of NOVIG’s competitors.
Is NOVIG safe and legit?
As I mentioned earlier on in this Novig review, NOVIG was created in part from investments secured by angel investors like Joe Montana and established venture capital firms Lux Capital and Y Combinator.
The NOVIG platform was also featured in an August 2023 FORBES article and has gained a reputation as a sweepstakes alternative to traditional sports betting sites.
Payment methods at NOVIG
Payment options are one of NOVIG’s few negative points.
To purchase NOVIG Coins, you’ll need to either link your bank account through Trustly or use a debit/credit card with the VISA, MasterCard, Discover, or American Express logo on it.
NOVIG doesn’t charge processing fees, but your financial institution (the one that issued the card you’re using) may indeed charge “cash advance” fees in some jurisdictions.
The news is even more dissuasive when it comes to cash prize redemptions.
Yes, NOVIG will allow you to make a cash prize redemption request for a minimum of 20 NOVIG Cash. However, your ONLY option at this time is to link your personal checking or savings account to your NOVIG account using Trustly.
Overall Rating: 6.0 out of 10
NOVIG could truly benefit from having more purchasing and redemption options. While the minimum threshold of 20 NOVIG Cash is very forgiving, customers will be forced to use online banking to redeem cash prizes.
Mobile and desktop experience
Mobile and desktop experience with NOVIG has been enhanced as of 2024, with the app now available for download on iOS devices via the Apple App Store and Android smartphones through the Google Play Storefront.
Having a dedicated app for all modern iOS and Android smart devices (including tablets) is a major plus from NOVIG.
The user experience when using a mobile phone or tablet is comparable to that in the browser version. The toggles and menu options are exactly the same in terms of color scheme and format.
For PC users, there is an easy-to-understand browser site. Despite the popularity of mobile phones and tablets today, some customers still prefer to engage in peer-to-peer sports contests using a larger desktop monitor screen.
NOVIG has those players covered.
Overall Rating: 7.5 out of 10
A dedicated app for Apple iPhone and tablet users is a big plus, but customers using an Android smartphone will be forced to use the browser version. By default, browser versions typically provide a superior user experience on large monitors associated with personal computers.
NOVIG customer support
I’m happy to report that NOVIG has numerous means to get in touch with customer support.
LIVE CHAT: This module is open to both free and premium coin players 24 hours per day. Simply tap on (or click) the Live Chat menu option through the app or browser version – depending on the device you’re using.
EMAIL: Customer support queries sent via email are typically responded to within 24 hours. This is the best place to send information and documents pertinent to KYC/AML checks and Source of Wealth verifications.
DISCORD CHANNEL: You can use this method of communication to receive timely responses from other members—as long as your question does not involve personally identifiable information. If the information includes your name, address, telephone number, credit card number, or other personal data, you’ll need to communicate using email or via the Live Chat function.
Overall Rating: 9.0 out of 10
The existence of a Live Chat module gives players more opportunities to interact with human customer service reps. This is a major convenience and can help streamline the KYC/AML checks.
Responsible gaming tools
Responsible gaming tools like self-exclusion can help individuals address problem gaming by restricting access to the NOVIG platform.
A self-exclusion MUST be in effect for the entire duration that is requested, with NO EXCEPTIONS allowed.
Upon self-exclusion from the games, the NOVIG platform will be inaccessible to you or anyone trying to connect from the same physical or IP address. This will apply to both premium and free-play contests.
Once the time period has expired, you must request (in writing) that your account be reinstated.
- NOVIG SWEEPS, LLC
- 169 Madison Avenue #2199
- New York, NY 10016
Conclusion and final verdict on NOVIG
I’ve found NOVIG to be an innovative approach to traditional online sports wagering. It offers loads of peer-to-peer contest options using both NOVIG Coins and the redeemable NOVIG Cash tokens.
The ability to customize a request (set your own odds) is a true boon for “smart” sports contest players, with requests automatically filling or canceling out depending on whether another member of the community wants to give you action.
The fact that NOVIG doesn’t take any commission from the peer-to-peer contests is also something that is pretty much unheard of in the traditional online sports betting space.
You can even submit a proposed prediction for a less popular sport (like arm wrestling, darts, etc) and have the possibility of NOVIG accepting the opposing side as a market maker (with a nominal 1% to 4% commission).
There are really only two “Cons” that I can think of when it comes to playing on NOVIG:
- It is blocked in eight states: Colorado, Montana, Michigan, Louisiana, Tennessee, Nevada, Alabama, and Idaho
- The coin purchasing and cash prize redemption options are very limited.
A smaller negative will only apply to high rollers, and that is the absence of any VIP program at this time.
Novig Social Sportsbook FAQs
The following Q&A section is based on my own experience with the NOVIG platform.
- How quickly does NOVIG process cash prize redemptions? NOVIG processes cash prize redemptions within 2-3 days of approval and delivers the funds to your personal checking or savings account. This timeframe is separate from the 3-day KYC/AML verification process, and the 2-day time it takes to link your NOVIG account to your personal bank account through Trustly. In short, your first cash prize redemption will take roughly 7 days if you haven’t already taken care of the online banking and KYC/AML requirements beforehand. Once that is set up, cash prize redemptions take 2-3 business days. The minimum cash prize redemption amount is 20 NOVIG Cash, and the maximum per transaction is 5,000 NOVIG Cash, with a 10,000 NVC redemption limit per 24-hour period.
- Am I required to make a purchase to play on the NOVIG platform? No, you are not required to make a purchase to play on the NOVIG platform. You can play for NOVIG Coins and enjoy the same peer-to-peer experience as those who use premium NOVIG Cash tokens. The only difference is that NOVIG Coins are non-redeemable and cannot be used to request a cash prize. If you find that you have run out of non-premium NOVIG Coins, you can easily reload them (if your balance is below 100) through the online cashier. It doesn’t cost anything to reload your non-premium coins, and you can do so liberally (at your convenience) whenever your balance is low.
- What sports contest markets can I predict on NOVIG? On NOVIG, you can predict sports contest markets such as NCAAF (college football), NFL, NBA, WNBA, MLB, UFC, NHL, NCAAW (women’s college basketball), NCAAMB (men’s college basketball), tennis, soccer, and golf. Some markets are currently being added and will soon be available, so there will be even more markets to choose from in upcoming months.
- What wager types can I make when entering peer-to-peer sports prediction contests? The wager types you can make when entering peer-to-peer sports prediction contests include moneyline, point spreads, Over/Under, parlays, Single Game Parlays (SGPs), and a variety of exotic prediction types like per-quarter, per-half, and in-game live betting for popular games.
- Does NOVIG charge a commission for peer-to-peer contests? No. NOVIG does not charge ANY commission on peer-to-peer contests. EXAMPLE: Panthers (+13.5) at Chiefs NFL Football Let’s say the Panthers are Even money against the Chiefs using a +13.5 point spread. Both sides of this contest (Panthers +13.5 and Chiefs -13.5) will be able to play a contest with no commission. If the wager is 100 non-premium NOVIG Coins (or 100 premium NOVIG Cash tokens), then the winner will receive 200 while the loser of the contest will lose 100. As long as there is enough liquidity to fulfill the published odds (meaning two members agree to take opposite sides in a peer-to-peer format), there will be “no vig” on either side’s outcome.
- How can I set my own odds? You can set your own odds by predicting outcomes. Using the above example, let’s say you predict that the Panthers will cover, but only if the point spread is +14.5 instead of +13.5. In this case, you can go into the menu and select the “Set Your Own Odds” option. From there, you can establish that you want action taking the Panthers +14.5. If another NOVIG community member wants to take the other side, then the contest is valid. If no other player accepts the odds that you have customized, the wager offer will automatically be canceled with no further action needed.
- What does the term Market Maker mean, and what is NOVIG’s role in these specific contests? Some sports prediction markets may be less popular than others; think professional bowling, darts, or minor league events. The result is that there may not be enough community members who desire to play in contests relating to those sports. No worries, however. You can choose a more obscure contest, and depending on the published or customized odds, NOVIG may take opposing action. If NOVIG decides to take the opposing side, there will be a 1% to 4% extra charge, but you will still receive the coins if your prediction turns out to be accurate.
- What are the minimum age and geolocation requirements to compete on NOVIG? All players, regardless of whether free or premium coins are being used, must be at least 21 years of age to participate in NOVIG sports prediction contests. NOVIG is currently available in 42 US jurisdictions. It is blocked in Tennessee, Colorado, Idaho, Nevada, Michigan, Montana, Louisiana, and Alabama.
State-By-State Analysis
Available In
AK, AR, AZ, CA, CT, DE, FL, GA, HI, IA, IL, IN, KS, KY, MA, MD, ME, MN, MO, MS, NC, ND, NE, NH, NJ, NM, NY, OH, OK, OR, PA, RI, SC, SD, TX, UT, VA, VT, WA, WI, WV, WY
Summary
Available In
AK, AR, AZ, CA, CT, DE, FL, GA, HI, IA, IL, IN, KS, KY, MA, MD, ME, MN, MO, MS, NC, ND, NE, NH, NJ, NM, NY, OH, OK, OR, PA, RI, SC, SD, TX, UT, VA, VT, WA, WI, WV, WY
