How does Novig make money? Fees, parlays and withdrawals

A sportsbook builds its margin into the odds: both sides of a −110 line add up to more than 100%, and the excess is the vig. Novig does not. Its fee page says: “There’s no vig or juice built into our prices. Instead, Novig charges a small, transparent fee on certain trades.” A winning contract always pays the full $1.00; the fee is added on top of the price you pay.

The fee is Coefficient × Price × (1 − Price) × Number of contracts, and only takers pay it — “the maker fee is $0 across all trade types”. The coefficient depends on the trade:

A note on live trades: the fee table and worked example on Novig’s help centre use 0.06, but the same page elsewhere says 0.03 for live, and Novig’s fee comparison post says 0.03 is standard and 0.06 applies to live college football, NHL and MLB. Check the fee shown in the app before you confirm. How this compares with Kalshi and others is in prediction market fees compared.

• Card deposits. Credit card, debit card and Apple Pay deposits carry a 3% fee, which Novig presents as passing on its payment partners’ costs. Bank transfers and stablecoin deposits are free.
• Market making. The Member Agreement lets Ludlow’s affiliates act as counterparty to your orders and warns, in capitals, that this “may result in Ludlow’s affiliates profiting from trades”.
• Sharing the fee. Under its Maker Credit Program (22 October 2026 to 21 October 2027), Novig passes part of the taker fee to the makers whose orders were filled: 50% on eligible futures and 25% on live fills, plus up to 50% more on live fills for makers who meet its quoting standards.

You can withdraw by bank transfer, debit card or Venmo, with a $10 minimum and no playthrough requirement. Identity verification must be complete first. Without a review, withdrawals “can often be processed within minutes”; a manual review typically takes up to 24 hours and occasionally 48, after which your bank or Venmo’s own timing applies. Novig publishes no withdrawal fee.

• Money in open positions is held until they settle, and deposits still “Processing” cannot be withdrawn until they clear, typically within a few business days.
• Under the Member Agreement, money deposited by bank transfer in the last 90 days can only go back to the account it came from.

Where Novig is available is covered in Novig legal states; our full assessment is in the Novig review.