Novig Drops American Odds for Percentage Pricing to Align with Financial Market Standards
TL;DR — Novig has replaced American odds with percentages on its prediction market following CFTC instructions to halt the former quoting method. An odds calculator now aids the shift, which aligns the platform with institutional financial market conventions. Daily volume already exceeds several named rivals.
SCCG Take — The move reinforces prediction markets as regulated financial venues, sharpening appeal to institutional participants and clarifying the CFTC’s oversight boundary.
Novig has eliminated American odds from its sports prediction market, shifting entirely to percentage-based pricing. Co-founder and CEO Jacob Fortinsky disclosed the change in a social media post and introduced an odds calculator to ease the transition for users familiar with traditional sportsbook formats.
The decision follows a Commodity Futures Trading Commission (CFTC) directive to prediction market operators to stop using American odds when quoting prices on sports derivatives. Under the prior system, -110 odds on a favorite converted to 52.4%, with a $110 stake still returning a $210 total payout on a winning contract.
Financial Market Alignment
Percentages underpin pricing across global financial markets, including equities, fixed income, and cryptocurrency. Fortinsky stated: “While percentages may not be native for sports fans today, moving away from sportsbook-style odds is another step toward building a product that looks like what it is: a financial market.”
Novig, which began as a sports-focused peer-to-peer exchange, already structures contracts in ways that support this format. The change matches long-standing practices at other prediction market operators and targets institutional investors and professional traders who operate exclusively in percentages, according to reporting by Casino.org.
Recent Expansion and Volume Gains
The pricing update arrives as Novig accelerates its market presence. The company rolled out its sports prediction market on a nationwide basis earlier this month. Average daily volume has since surpassed competitors including DraftKings’ DKeX, Rothera, and Underdog.
With college football season beginning this weekend, Fortinsky said the privately held firm will increase efforts on brand awareness and customer acquisition.
Reporting: Casino.org News
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Prediction markets are choosing Wall Street over Vegas — a smart regulatory play that may cost them casual users.
We've watched prediction markets struggle to define themselves for years. This CFTC nudge forces the industry to pick a lane — either regulated financial instrument or sportsbook competitor. Novig is betting institutional volume beats retail familiarity, and their recent numbers suggest they may be right. That's a fundamental market shift.
- CFTC told operators to ditch American odds; Novig complied, now quotes everything in percentages
- Daily volume already tops DraftKings' DKeX, Rothera, and Underdog since nationwide rollout
- Move targets institutional traders who work in percentages, sacrificing retail-bettor ease of use
SCCG angle: SCCG has guided clients through CFTC compliance and product positioning across derivatives and gaming for three decades. If you're building a prediction market or repositioning an existing book, we connect you to the regulatory advisors, liquidity partners, and institutional distribution channels that determine whether this pivot works or flops.
Gaming, betting and prediction markets — the desk’s read, every weekday.
Subscribe →