Date Opened: April 2023
Address: 594 Broadway
Hours of Operation: N/A
In April, Novig opened an office at 594 Broadway. We are thrilled to welcome them to the SoHo Broadway corridor and wish them success in our district. We had the opportunity to chat with their team to learn about what makes their business unique:
What does your organization do? What industry are you in?
Novig is in the sports betting industry.
What brought your organization to SoHo?
SoHo is the best neighborhood in New York City.
What sets your organization apart from the rest?
Novig is the first high-frequency, commission-free sports betting exchange that guarantees bettors the best lines and eliminates the need for traditional sportsbooks. It does this by enabling users to bet directly against friends or the market, rather than against the house, making the betting experience more efficient, fair, and, most importantly, profitable. As the United States regulatory landscape evolves, Novig is positioned to become a leading innovator in sports betting with its unique focus on quantitative research and high-frequency trading.
Each year there is $300B wagered on sports in the US, but all the current platforms restrict bettors to trading directly against sportsbooks, which take an 8% cut of all money bet to ensure that the house always wins. We take zero. Rather than charging end users, we generate revenue from three main sources: payment for order flow, data monetization, and internal market making.
Is there a promotion that you would like to offer readers or members of the SoHo Broadway community?
Sign up for our wait-list at novig.us/earlyaccess for details on our launch timeline, promotions and more!