LIV Golf is the latest professional sports organization to solidify a footprint in the prediction market space through a new partnership with a sports trading platform.
On Wednesday, LIV Golf announced that it has secured a strategic partnership with New York-based trading platform Novig that includes branding integrations for select players.
The landmark deal marks the first partnership between a prediction market and a professional golf organization in the U.S. amid the growing popularity of event contracts.
“This collaboration demonstrates how we’re evolving traditional partnership models and creating new ways for brands to connect with the broader golf ecosystem,” said LIV Golf Executive Vice President of Global Sponsorship & Activation Chad Biggs. “Our league is constantly evaluating how we can engage partners across our global calendar and deliver the best experience for our players and fans”.
Novig gets branding at LIV Golf events
As part of the deal, Novig will have a branding presence that is deployed through player kits during LIV Golf events. Novig’s logo will be placed on the sleeve of jerseys worn by some of the best golfers in the world, who are on the pro golf tour that launched in 2022.
The players who will wear a Novig logo on their sleeves starting this week include:
- Sergio Garcia
- Dustin Johnson
- Tyrrell Hatton
- Tom McKibbin
- Jon Rahm
- Charl Schwartzel
- Cameron Smith
Novig plans to offer new trading markets for golf fans that will be centered around major storylines involving LIV Golf. The trading platform will also provide Novig users with exclusive markets for LIV Golf players and special contests that include a prize pool.
“Novig is a place where winners are welcome—and LIV Golf’s roster is filled with winners, including former champions of the most prestigious tournament in golf—so this partnership was a natural fit,” said Novig Chief Executive Officer Jacob Fortinsky. “Having our brand on the sleeve of players who have already succeeded on the sport’s biggest stages puts Novig exactly where it should be: at the center of winning moments”.
Novig and LIV Golf are also collaborating to deliver original content to golf fans.
The two companies are creating a content series that will be shared across LIV Golf’s social channels. The content will be delivered weekly during LIV Golf’s tournament schedule.
LIV Golf’s presence in the gaming industry
LIV Golf’s deal with Novig adds to the pro golf tour’s portfolio of gaming partners.
In 2023, LIV Golf reached an agreement with Simplebet to make the micro-betting technology company the tour’s official sports betting innovation partner.
The deal allows Simplebet to deliver real-time data for LIV Golf’s competitions.
Earlier this year, LIV Golf landed a partnership with Beyond Sports to launch a free-to-play fantasy game. The title, LIV Golf Fantasy, fosters fan engagement through hole-by-hole scoring. Beyond Sports and LIV Golf also host a game-focused hub for digital activations. The deal marks Beyond Sports’ first foray into the U.S. golf business.
New opportunity for Novig
Novig added LIV Golf to its partnership profile after applying for registration with the Commodity Futures Trading Commission (CFTC) as a designated contract market (DCM).
CFTC registration as a DCM allows a company to supply event contracts to consumers. By comparison, futures commission merchants operate by hosting event contracts. Other firms registered as DCMs with the CFTC include Kalshi and Polymarket.
Novig’s CFTC application marks another shift in strategy for the company, as it previously operated as a betting exchange, an online sportsbook and a sweepstakes operator.
Novig’s entry into the prediction market space will be supported by a recent $75m Series B funding round led by blockchain-focused asset manager Pantera Capital. The funding round values Novig at approximately $500m. To date, Novig has raised more than $105m.
