Novig has obtained an online sports betting license from the Colorado Division of Gaming, paving the way for the debut of its new platform.
The firm – which is backed by investors such as Y Combinator, Joe Montana and Lux Capital – is set to launch a commission-free, high-frequency sports betting exchange.
Despite outlining its intentions to be a sports betting exchange, exchange wagering is yet to be approved by the regulator, therefore, Novig will operate as an online sports betting operator until this changes.
Novig has secured market access into Colorado through an agreement with Full House Resorts and its Bronco Billy’s Casino in Cripple Creek.
The Colorado launch would mark the firm’s debut in the market after the firm was founded and the product developed. Once launched, the Novig app will be available for NFL, NBA, MLB, NCAAF and NCAAB markets with moneyline, point spread and game totals available for bettors.
“We’re thrilled to kick off our journey in the vibrant sports betting landscape of Colorado, and we’d like to thank the Division of Gaming for their help throughout the process,” said Co-Founder and CEO Jacob Fortinsky.
“We’re committed to building an unparalleled, community-led betting experience, and we look forward to becoming the go-to destination for sports fanatics and sharp bettors alike.”
