Picking a place to bet on sports used to mean choosing between apps that all worked the same way. The BetMGM vs Novig matchup breaks that pattern, because the two platforms run on entirely different business models.
BetMGM is a household name backed by MGM Resorts and Entain and licensed state by state. Novig is a younger, sports-only exchange that relaunched nationwide in August 2026 as a federally regulated prediction market.
Below, both are compared on pricing, fees, promotions, availability, and features, ending with a clear verdict on which one deserves your bankroll.
What is the Main Difference Between BetMGM and Novig?
The main difference between BetMGM and Novig is that BetMGM is a traditional, state-licensed sportsbook where you bet against the house at odds it sets with a built-in margin, while Novig is a CFTC-regulated sports prediction market where you trade event contracts against other users, paying nothing on pre-game trades and only a small taker fee on live trades and parlays.
What is BetMGM and What is Novig?
BetMGM is a US online sportsbook and casino brand run as a joint venture between MGM Resorts International and Entain. It grew out of PlayMGM, launched in 2017, and took its first legal sports bets in New Jersey in 2018.
Today it operates in more than 20 states plus Washington, D.C., each under a state gaming license. In a handful of states, including Michigan, New Jersey, Pennsylvania, and West Virginia, the same account also unlocks online casino games and poker.
BetMGM works as a classic bookmaker. Its traders set the odds, build a margin into every line, and take the other side of your bet. Play is tied to MGM Rewards, so wagering can earn perks at MGM resorts.
Novig was founded in 2021 by Jacob Fortinsky and Kelechi Ukah. It began as a peer-to-peer betting exchange, moved to a sweepstakes model, and then won Designated Contract Market approval from the CFTC in June 2026.
It relaunched nationwide on August 4, 2026, operating through its exchange entity, Ludlow Exchange LLC. Users buy and sell sports event contracts against each other, and prices move with supply and demand.
Novig lists sports markets only, requires users to be 21 or older, and charges small fees on a narrow set of trades instead of building a margin into every price.
Key Differences Between BetMGM and Novig
- Business model: BetMGM is the counterparty to every bet and profits from its margin. Novig is a neutral exchange that matches buyers and sellers and earns only from selected fees.
- Regulation: BetMGM holds separate licenses from each state gaming regulator. Novig is overseen federally by the CFTC as a Designated Contract Market.
- Pricing: BetMGM odds include a built-in vig on both sides of a market. Novig prices come from user orders, so pre-game lines carry no house margin.
- Fee structure: BetMGM charges no visible fee because its cut sits in the odds. Novig charges a taker fee only on live trades and parlays, while pre-game and maker trades are free.
- Product range: BetMGM pairs its sportsbook with online casino, poker, and horse racing in select states. Novig offers sports event contracts and nothing else.
- Availability: BetMGM is limited to states that have legalized sports betting. Novig is available nationwide under its federal designation, subject to its own eligibility rules.
- Exiting a position: BetMGM lets you cash out at a price it sets. Novig lets you sell your contracts to other traders at the live market price at any time.
Key Similarities Between BetMGM and Novig
- Real-money sports wagering: Both let you stake real money on game outcomes, spreads, totals, and player props, and both pay winnings in cash you can withdraw.
- Mobile-first design: Each platform is built mainly for iOS and Android apps, with clean navigation by sport and league and quick bet slips.
- Parlays and live action: Bettors can combine selections into parlays and trade or bet on games already in progress on both apps.
- Identity verification: Both require full KYC checks, including name, date of birth, address, and Social Security details, before funds can be withdrawn.
- Responsible gaming tools: Each offers deposit limits, cool-off periods, and self-exclusion options, along with links to problem gambling support.
- Welcome offers and loyalty perks: New users on both platforms receive a sign-up bonus, and ongoing loyalty programs reward regular activity.
Features of BetMGM vs Features of Novig
- Odds format: BetMGM shows American odds set by its traders. Novig shows contract prices in cents, which map directly to implied probability.
- Welcome offer: BetMGM offers a first-bet safety net of up to $1,500 in bonus bets in many states. Novig gives $50 in trade credits for a $10 deposit.
- Loyalty program: BetMGM links to MGM Rewards for resort perks. Novig Points resets monthly across five tiers with cash prizes and trade credits.
- Hedging tools: BetMGM offers early cash-out and edit-bet options. Novig offers Early Payout on hedged positions and the ability to sell contracts anytime.
- Payments: BetMGM supports cards, PayPal, online banking, and cash at casino cages. Novig accepts cards, Apple Pay, Aeropay, and stablecoins, with withdrawals often processed within minutes.
- Market coverage: BetMGM covers a wide range of sports plus casino and poker. Novig focuses on major sports such as NFL, MLB, NBA, UFC, tennis, golf, and soccer.
- Age requirement: BetMGM is generally 21+, varying slightly by state. Novig applies a 21+ rule nationwide.
Final Verdict
Winner: BetMGM.
Novig delivers better raw pricing, and price-sensitive sharps will love its fee-free pre-game trading. But for most bettors, BetMGM offers the more complete and dependable package.
It guarantees fills at posted odds, offers a deeper menu of bet types, pairs sports with casino and poker, and adds real-world value through MGM Rewards. It also carries years of state-licensed history, while Novig’s exchange model is only weeks into its nationwide run.
If you live where BetMGM is legal, it is the stronger all-around choice.
Pros of BetMGM Over Novig
- Proven track record: BetMGM has operated legally since 2018 under some of the largest names in gaming. Novig is on its third business model in five years.
- Guaranteed liquidity: Because the house takes every bet, you always get filled at the posted odds. There is no waiting for another user to match your order.
- Broader entertainment menu: In states such as New Jersey and Michigan, one wallet covers sports, casino games, and poker.
- MGM Rewards integration: Wagers earn points that convert into hotel stays, dining, and shows at MGM properties nationwide.
- Bigger welcome offers: BetMGM’s first-bet offers reach up to $1,500 in many states, well above Novig’s $50 in trade credits.
- More bet types: Same-game parlays, boosts, teasers, and niche props are deeper and more polished than on a young exchange.
- Retail sportsbooks: Bettors can place wagers and cash tickets at physical BetMGM counters in stadiums and casinos.
Cons of BetMGM Compared to Novig
- Built-in vig on every line: A standard -110 spread means paying roughly 4.5% to the house. Novig pre-game trades carry no margin at all.
- Limited state footprint: Bettors in states without legal sports betting, such as California and Texas, cannot use BetMGM.
- Account limits for winners: Like most sportsbooks, BetMGM can restrict stake sizes for consistently profitable players. An exchange has less reason to do so.
- House-set cash-out prices: Early cash-out values include a margin, so you usually receive less than fair value.
- Bonus strings attached: Welcome offers usually pay out as bonus bets, which return only winnings and not the stake.
- Less price transparency: You cannot see order books, traded volume, or how a price formed, as you can on Novig.
Pros of Novig Over BetMGM
- Fee-free pre-game trading: Every pre-game trade and every maker fill costs nothing, so a 50-cent contract truly pays even money.
- Low live fees: The live taker fee is 0.03 × P × (1 − P) per contract, about $0.75 per 100 contracts at even odds.
- Nationwide access: Federal oversight lets Novig serve sports fans in states with no legal sportsbook.
- Maker rebates: The Maker Credit Program returns 50% of the taker fee when your resting order fills during a live game.
- Early Payout: If you hedge both sides of an event, Novig instantly credits any locked-in profit instead of waiting for the final whistle.
- Fair Value Settlement: When a market cannot resolve cleanly, positions are paid out based on the 30 minutes of trading before the disruption.
- No-playthrough welcome credits: The $10-deposit offer awards $50 in trade credits, and winnings from them are withdrawable.
Cons of Novig Compared to BetMGM
- Thinner liquidity on niche markets: Obscure props and smaller leagues may have few resting orders, so large stakes can move the price.
- Sports only: There are no casino games, poker, or racing, so users who want variety need a second app.
- Card deposit fees: Credit card, debit card, and Apple Pay deposits carry a 3% fee, while BetMGM generally does not charge for deposits.
- Steeper learning curve: Contract prices in cents, order books, and maker versus taker roles can confuse bettors used to American odds.
- Regulatory uncertainty: Sports prediction markets still face pushback from some state regulators, and the legal landscape may shift.
- Fewer social and extra features: Beyond a leaderboard and its points program, Novig offers little in the way of community tools or content.
Situations When BetMGM is Better Than Novig
- You want sports and casino in one place: Bettors in casino-legal states can move between a game slip and a slot or blackjack table without switching apps.
- You value MGM resort perks: Frequent Las Vegas or regional MGM visitors gain real value from MGM Rewards tier credits.
- You place large bets on niche markets: The house fills you at the posted price, even when few other bettors are active.
- You are a casual weekend bettor: Familiar American odds and simple bet slips suit people who do not want to learn order books.
- You chase big welcome bonuses: A first-bet offer worth up to $1,500 in bonus bets beats Novig’s sign-up credit for higher stakes.
- You prefer an established operator: Some bettors simply trust a state-licensed brand with years of history and casino-backed ownership.
Situations When Novig is Better Than BetMGM
- You live in a state without legal sportsbooks: Novig’s federal designation can give you regulated access where BetMGM cannot operate.
- You bet mostly pre-game: Zero fees on pre-game trades mean every dollar of fair value stays with you.
- You are a sharp or high-volume bettor: Small edges add up when no vig erodes them, and an exchange has little reason to limit winners.
- You like to set your own price: Resting limit orders let you name the odds you want and wait for someone to accept.
- You hedge positions often: Early Payout credits locked-in profit right away, freeing your bankroll for the next game.
- You fund accounts with bank transfer or stablecoins: Aeropay, USDC, and USDT deposits carry no fees on Novig.
- You want transparent pricing: Seeing traded volume and price history helps you judge where the market really stands.
FAQs
Can I use BetMGM and Novig at the same time?
Yes. Many bettors hold accounts on both and compare prices before every wager. A common approach is to check Novig’s market price, then place the bet wherever the payout is higher. Some users even hedge a BetMGM position with an opposing Novig contract when the numbers line up.
Are winnings from BetMGM and Novig taxable?
In the US, profits from both are generally treated as taxable income. BetMGM may issue a W-2G for large wins, while the reporting of event contract gains on a prediction market is less settled. Keeping your own records and speaking with a tax professional is the safest route.
Is BetMGM available outside the United States?
Yes. BetMGM also operates in Ontario, Canada, under the province’s regulated iGaming market. Novig, by contrast, is focused on users in the United States, so Canadian bettors will find BetMGM the only option of the two.
Can I bet on politics or entertainment on Novig?
No. Unlike broader prediction markets such as Kalshi or Polymarket, Novig lists sports contracts only. It does not offer markets on elections, award shows, economic data, or pop culture, which keeps its focus and liquidity on games.
What is the minimum withdrawal on Novig?
Novig sets a $10 minimum per withdrawal, paid by bank transfer or debit card. Withdrawals are often processed within minutes, though busy periods can stretch the wait to 24 to 48 hours. Money tied up in open positions stays in escrow until the event settles.
Who is backing Novig financially?
Novig raised a $75 million Series B round in February 2026, led by crypto-focused venture firms including Pantera Capital. The funding is aimed at deepening liquidity and scaling its exchange. It also signed a multi-year deal as the official prediction market partner of the New York Mets.
How do I reach customer support on each platform?
BetMGM offers live chat, email, and phone help through its app and website, with state-specific contact options. Novig provides 24/7 support, usually by live chat within minutes or by phone, plus email replies within roughly 12 to 24 hours.
Does BetMGM limit how much I can win?
BetMGM does not cap winnings on a normal bet, but it sets maximum stakes per market and can reduce limits for accounts it considers sharp. Payout caps may also apply to certain parlays. Reviewing the house rules in your state shows the exact limits that apply.
BetMGM vs Novig Summary
The BetMGM vs Novig decision comes down to how you bet. BetMGM is a full-service, state-licensed sportsbook with guaranteed fills, rich promotions, casino games, and MGM Rewards.
Novig is a lean, federally regulated sports exchange where pre-game trades are free and live fees are small. It rewards disciplined, price-focused bettors and reaches fans in states without legal sportsbooks.
For most people, BetMGM remains the better everyday choice. Serious bettors, though, may get the most value by keeping both apps and taking the best price each time.
