Novig: commission, effective odds and arbitrage
- Commission model
- No commission
- Rate (placeholder)
- 0%
- Even money after commission
- 2.000
- Lay bets
- yes
- Profit on every outcome
- 2.21
- Total stake
- 100.00
- Sum of implied probabilities
- 97.84%
| Leg | Odds used | Effective odds | Stake |
|---|---|---|---|
| Back Outcome 1 | 2.200 | 2.200 | 46.46 |
| Lay Outcome 1 | 1.909 | 1.909 | 53.54backer's stake 48.67 |
| If this wins | Legs that pay | Gross return | Commission | Net profit |
|---|---|---|---|---|
| Outcome 1 | Outcome 1 | 102.21 | 0.00 | 2.21 |
| Not Outcome 1 | Outcome 1 | 102.21 | 0.00 | 2.21 |
Arbitrage: 2.21% return, 2.21 profit on every outcome
Novig does not charge commission on top of its prices; its margin sits inside the odds. That makes it a useful reference for fair prices, and the calculators on this page compare it with exchanges that do charge.
Novig markets itself as a commission-free sports exchange in the US. How its pricing works in practice has not been verified for this page.
How Novig commission works
With no commission, the price you see is the price you get. Compare it directly with an exchange's effective odds after commission to decide where to bet.
| Odds | Effective | American | Break-even | Net profit on 100 |
|---|---|---|---|---|
| 1.50 | 1.500 | -200 | 66.67% | 50.00 |
| 1.91 | 1.910 | -110 | 52.36% | 91.00 |
| 2.00 | 2.000 | +100 | 50.00% | 100.00 |
| 2.50 | 2.500 | +150 | 40.00% | 150.00 |
| 3.00 | 3.000 | +200 | 33.33% | 200.00 |
| 5.00 | 5.000 | +400 | 20.00% | 400.00 |
| 10.00 | 10.000 | +900 | 10.00% | 900.00 |
Backing at a bookmaker, laying at Novig
The classic use of an exchange is the hedge: back an outcome at a bookmaker, lay the same outcome at Novig, and lock in a profit if the two prices are far enough apart. With a back at 2.20 and a lay at 2.10 under 0% commission, staking 100 in total gives 2.21 profit on either result, a 2.21% return (arbitrage: yes). The lay carries a liability of 53.54 against a backer's stake of 48.67.
| Result | Gross return | Commission | Net profit |
|---|---|---|---|
| Outcome wins | 102.21 | 0.00 | 2.21 |
| Outcome loses | 102.21 | 0.00 | 2.21 |
The calculator above is pre-set to this scenario. Change the odds to your own and the stakes update immediately.
Using Novig prices to find fair odds
Exchange prices are set by traders rather than by a bookmaker's margin, so after commission they are often close to the fair line. To use them that way, take both sides of a market, remove what little overround remains with the devig calculator pre-set to Novig, and compare the result with the bookmaker prices you are offered. A bookmaker price above the fair line is value.
Comparing Novig with other venues
The pairs listed at the bottom of this page each open an arbitrage calculator with Novig on one leg and another venue on the other, commission applied to both. They are the quickest way to see how much two venues must disagree before a position pays.
Regions and verification
Novig lists US among its markets. Availability, licensing and commission all differ by country; the figures on this page are arithmetic, not a statement about what you can access where you live.
Frequently asked questions
Can I lay bets at Novig?
Yes. Laying at odds L against a backer's stake B risks a liability of B × (L − 1). Commission applies to your profit when the outcome loses.
Is Novig a good source of fair odds?
Prices set by traders carry a small overround, so after removing it they are close to a fair line. Remember to account for commission when comparing with a bookmaker price you will actually take.
Does commission apply to every bet?
Most venues charge on the net result of a market rather than on each bet, so offsetting bets in the same market share one commission charge. This site models one bet at a time.