Novig is a company that offers a platform for playing with virtual cash that can be redeemed for real cash prizes. The platform appears to focus on sports betting, including live events and major leagues like MLB, NFL, and NCAA.

Novig

Novig is the first prediction market for sports. Coming soon.

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CapitalX

Archon Capital LLC

Bayhouse Capital

Rebel Fund

TRAC

Unpopular Ventures

Alan Rutledge

Arash Ferdowsi

Austen Allred

Co-founder & CTO of Novig, Kelechi Ukah, had some interesting thoughts about online echo chambers on the latest Linecraft.

He emphasized that even if you’re someone that reads widely, your views are still skewed by the sliver of opinions the algorithm feeds you.

Those hot takes that don't drive engagement end up lost in the digital void, hidden from your timeline. So good luck factoring those into your worldview.

Kelechi’s points speak to the paradox of digital wisdom. In an age of infinite feeds, wisdom may mean embracing what we don't know.

We may be swimming in information these days, but the reality is we only see our little curated slice.

Definitely a perspective shifter that will have you re-examining your own blindspots and biases.

—

How do you step outside your own algorithmic bubble?

If this hits home for you too, Kelechi has tons more insights to share in the full episode. Tune in for the full conversation at novig.us/linecraft

Hiring a Finance & Operations Director to join the Novig team in SoHo, NY as we gear up for a nationwide expansion. If you have a passion for sports and markets, strong analytical skills, and a desire to wear many hats, reach out!

In the latest episode of Linecraft, we dove into the world of prediction markets with Kelechi Ukah, co-founder and CTO at Novig. We explore the intricacies of these markets, their role as potential sources of truth, and the complex factors that influence their effectiveness.

From the mechanics of bounded prices to the impact of participant behavior and liquidity, we cover a wide range of topics that shed light on the assumptions and challenges inherent in prediction markets. We also touch on the interplay between narratives, human sentiment, and market outcomes, offering our takes on how these forces shape our understanding of the world around us.

Here's a glimpse: 

– Prediction Market Mechanics 
– Assumptions Driving Market Efficacy 
– Narrative-Driven Price Movements 
– Event Sensitivity to Sentiment 
– Challenges of Belief Calibration 
– Ideological Diversity and Real-World Interactions

There's a common mistake that many new sports bettors fall into.

It's not a lack of knowledge or even picking the wrong winner.

The real bankroll killer is overbetting.

Someone starts with $1,000 and promptly fires $333.33 on three different games.

All it takes is a bad run to send that bankroll up in flames.

Even with the sharpest information in the world, betting 30% of your roll on a single game is simply unsustainable.

Sure, you might hit a heater and run it up for a while.

But eventually, the volatile swings of sports betting will catch up to you.

Pros preach a strict diet of risk management and discipline.

Build your bankroll slowly and steadily.

Wager within your means and live to fight another day.

Otherwise, you're just one cold streak away from reloading your account or worse - hanging up the cleats for good.

—

How do you determine the right amount to risk on a play?

Why do bettors flock to higher-priced books over lower-cost exchanges?

On the surface, it seems like an easy call to use a cheaper exchange.

→ Save money on every bet

→ Increase your ROI

→ Have a better shot at profitability

But for many casual bettors, the decision isn't so clear-cut.

Here’s why:

The issue of bet size

If you're only risking a few bucks per wager, saving a dime here and there might not move the needle.

The convenience and user experience of a slick sportsbook app could easily outweigh any potential savings.

The allure of novel betting options

Same game parlays, long-shot props, you name it.

Exchanges often struggle to support these lottery-style bets due to liquidity constraints.

And if a bettor can't place the wager they want, the price advantage loses its value.

So while industry insiders may scratch their heads, the average joe's choice makes sense.

They want a one-stop-shop that's easy to use and offers every bet imaginable.

Even if that means paying a slight premium.

Convenience is king.

And right now, the major books have exchanges beat in that department.

—

How much does price factor into your sportsbook selection?

Would you sacrifice bet variety for a better price?

We're building the first prediction market for sports.

Simple as that.

When you play on Novig, instead of betting against the house, you’re matched directly against friends or strangers. We give you the industry’s best prices and if you don’t like the odds you see, we let you be the bookmaker, offering your own odds and competing against real people in the Novig community. 

This means you can:

- Be a price maker, not just a price taker
- Join a level playing field through a two-sided marketplace
- Experience a more social, transparent, and fair environment

For casual players, it's like DraftKings or Fanduel but with 5% better prices across the board and a more social way of betting. For more advanced players, it means greater EV, no limits or lockouts, and a trading experience you would expect on a prediction market or stock market. 

Check us out and learn more at https://www.novig.us/

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Webflow

Co-Founder & CEO

Jacob Fortinsky

Operations

Carleen Haury

Engineering

Ari Hirsch

Dan Rosen

Senior Frontend Software Engineer

Ryan Swei

Co-founder and CEO

Kelechi Ukah

Co-founder and CTO

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The first commission-free, high-frequency sports betting exchange

Seed Round - Novig

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