Novig vs BetMGM: Odds, Trading Fees, and Features Compared (2026)

Last reviewed: November 3, 2026

Both Novig and BetMGM cover major sports, player props, and parlays, but they price and settle positions differently. Novig offers fee-free pregame straight trades and broader geographic availability, while BetMGM has a more extensive sportsbook menu and loyalty program.

Novig vs BetMGM at a glance

Novig lets users set their own prices

BetMGM determines the odds available on its sportsbook, with the house margin incorporated into those prices. Bettors can accept the displayed odds or look for a better line, but they cannot post an order for another customer to fill.

Novig lets users accept existing quotes or place limit orders at their preferred price. If a contract is offered at 53¢, for example, you can submit an order at 51¢ and wait for another trader to accept it. Orders only execute when sufficient opposing liquidity is available. Novig also charges no fees on pregame straight trades, whether the order immediately matches or rests on the book. Maker orders remain fee-free across all trade types, while taker fees apply to live straight trades and most futures. Parlay fees are included in quoted prices.

BetMGM's Odds Flash feature temporarily enhances spreads on selected football games, for example from a standard -110 line to -105. Eligible users can find featured games within the sportsbook, with availability depending on the promotion.

What does a $50 position pay on Novig vs BetMGM?

Let's say the same pregame football spread is available at 52¢ on Novig and -110 at BetMGM, plus an Odds Flash price of -105 on that selection.

On Novig, buying 96 contracts at 52¢ costs $49.92. If the selection wins, the contracts settle for $96, leaving $46.08 in profit.

At BetMGM, a $50 wager at -110 returns approximately $95.45 if it wins, including $45.45 in profit. If Odds Flash improves the price to -105, the winning payout rises to approximately $97.62, with $47.62 in profit.

These are hypothetical prices for equivalent selections, not simultaneous live quotes. The -110 to -105 improvement is the example BetMGM uses to describe Odds Flash. The Novig position uses whole contracts and risks slightly less than $50.

At these prices, Novig produces a higher profit than BetMGM's regular -110 line. The Odds Flash improvement reverses that result. A -110 sportsbook line has a break-even implied probability of approximately 52.38%, while -105 corresponds to 51.22%. For a pregame straight trade without fees, a Novig contract priced below the sportsbook's implied probability generally offers a better return on the same outcome.

BetMGM BetDefense vs Novig settlement rules

BetMGM introduced BetDefense for the 2026 football season, providing automatic injury protection on eligible professional football player props. If a covered player leaves because of an injury during the first quarter, is officially ruled out, and doesn't return, BetMGM applies the following protections:

• Straight player props: The wager is canceled and the original stake refunded in cash, generally within 72 hours of settlement.
• Parlays and SGPs: The injured player's leg is removed, with the remaining payout recalculated.
• Eligibility: BetDefense applies to qualifying positive-performance props like passing or receiving yards Over. Under/Fewer selections and weekly specials are excluded.

BetDefense doesn't require an opt-in or additional fee, although it's unavailable in some jurisdictions and applies only to wagers meeting its conditions.

Novig follows contract-specific settlement rules. Its Fair Value Settlement (FVS) system can apply when a market cannot produce a valid result, including when a player is scratched before a game or a contest is abandoned. FVS uses the contract's calculated market value immediately before the disruption, rather than automatically refunding the original purchase price. Depending on the market price and settlement conditions, users may receive more or less than they originally paid.

For a qualifying first-quarter football injury, BetMGM provides a defined cash-refund benefit. Novig's settlement process doesn't guarantee equivalent protection for in-game injuries.

Parlays, Cash Out, and live trading

Both platforms offer spreads, totals, player props, futures, and parlays. Novig concentrates on major American sports, with additional markets for tennis, golf, MMA, and select soccer leagues. BetMGM has a broader traditional sportsbook menu, including more international leagues and extensive Same Game Parlay options. Its 2026 updates also expanded live college-football SGPs, rolling lines that refresh within the bet slip, and in-game statistics. BetMGM now allows users to display sportsbook odds as implied probability percentages. A -110 line, for example, can appear as approximately 52.4% probability. Novig presents contract prices in cents, where a 52¢ purchase price corresponds to 52% of the $1 winning payout.

BetMGM's probability display converts house-set odds, including any bookmaker margin. Novig's prices come from orders placed by other market participants.

Cash Out on BetMGM vs selling positions on Novig

Novig lets users sell eligible straight positions at available market prices. The amount received depends on what other participants are willing to pay, so a position may close for more or less than its original cost. Novig also provides automatic early payouts when offsetting trades establish a guaranteed minimum return. Its parlays currently cannot be sold before settlement.

BetMGM offers Cash Out on eligible straight bets and parlays, with the sportsbook determining the available payout. Its Auto Cash Out feature lets users set a target value for an automatic closing attempt. Offers can change or disappear when markets move or trading is suspended.

Rewards, promotions, and availability

Novig's Points program rewards qualifying trading activity through monthly tiers, with benefits including Trade Credits and deposit matches. Eligible makers can also earn cash credits when their live or futures orders are filled by fee-paying takers. BetMGM Rewards has a wider entertainment focus. Members earn points on qualifying play and can redeem them for eligible rewards outside the sportsbook. An October 2026 partnership with Gametime also allows members to redeem points for credits toward sporting events, concerts, and other live experiences.

New-user promotions

Novig currently offers $50 in Trade Credits after a qualifying deposit of $10 or more, without requiring a trade first. The credits are issued in five $10 increments, each expiring after 30 days. They're non-withdrawable and subject to restrictions on eligible contract prices and credit use.

BetMGM's sportsbook welcome promotions vary by state:

• First-bet protection: Eligible new customers can receive up to $1,500 in Bonus Bets if their first qualifying wager loses.
• Bet $10, get $150: In selected states, eligible new customers receive $150 in Bonus Bets if their first qualifying $10 wager wins.

Neither offer is universal. BetMGM's bonuses are non-withdrawable and subject to state-specific eligibility, expiration, and wagering requirements.

Where are Novig and BetMGM available?

Novig operates through Ludlow Exchange, a contract market designated by the Commodity Futures Trading Commission (CFTC). It's available in 46 states plus D.C., excluding Arizona, Nevada, Michigan, and Ohio, for eligible users aged 21 or older.

BetMGM Sportsbook follows state-by-state gaming regulations. It's available in states like Arizona, Michigan, and Nevada, where Novig isn't currently accessible. However, Novig offers sports trading in states like California, Texas, and Florida, where BetMGM's traditional sportsbook isn't available. In Florida specifically, BetMGM offers a separate horse-racing product but does not currently provide online sportsbook wagering. Eligible Florida users can access Novig sports contracts, subject to its standard location and account requirements.

Which is better: Novig or BetMGM?

Novig gives sports traders more control over entry prices, with no fees on pregame straight trades and the flexibility to sell eligible positions into the market. Its wider geographic availability also makes it accessible in states without BetMGM Sportsbook.

BetMGM offers advantages for users who prefer traditional betting slips, complex parlays, and sportsbook-specific features. BetDefense provides valuable protection on qualifying football props, while Odds Flash can occasionally produce a better price than a fee-free Novig trade.

For users focused on managing entry prices and trading major sports, Novig is a strong option. The best return still depends on the contract prices and sportsbook odds available at the time.

Novig vs BetMGM FAQ

Is Novig cheaper than BetMGM?

Novig charges no fees on pregame straight trades or maker orders, while BetMGM generally incorporates its margin into sportsbook odds. Novig charges fees on certain live trades, futures, and parlays.

Can you set your own odds on Novig and BetMGM?

Novig allows users to post limit orders at their preferred price and wait for another market participant to fill them. BetMGM sets the odds offered by its sportsbook, although promotional features like Odds Flash can improve those prices. BetMGM customers cannot post their own sportsbook lines.

What happens if a player gets injured on Novig vs BetMGM?

BetMGM's BetDefense refunds eligible positive-performance football player props when a player leaves due to injury in the first quarter, is ruled out, and doesn't return. Novig follows individual contract settlement rules, with Fair Value Settlement available when a market cannot produce a valid outcome.

Can you cash out early on Novig and BetMGM?

Yes, under different systems. Novig lets users sell eligible straight contracts at available market prices and provides automatic early payouts for certain hedged positions. BetMGM offers Cash Out and Auto Cash Out on eligible wagers, including some parlays, at sportsbook-determined prices.

Can you use Novig or BetMGM Sportsbook in Florida?

Novig currently supports eligible sports trading in Florida for users aged 21 or older. BetMGM Sportsbook doesn't offer online sports wagering in Florida, although its separate horse-racing product is available. BetMGM sportsbook customers must physically be in a jurisdiction where its sports betting product is licensed.

Sources

1. Novig: Fees on Novig
2. Novig: Eligibility & Legality
3. Novig: Fair Value Settlement
4. Novig: Early Payouts
5. Novig: New Member Deposit Program Terms
6. Novig: Points Program and Rewards
7. BetMGM: Odds Flash Premium Football Pricing
8. BetMGM: BetDefense Injury Protection
9. BetMGM: 2026 Sportsbook Features and Enhancements
10. BetMGM: Cash Out and Auto Cash Out
11. BetMGM: Rewards Partnership with Gametime
12. BetMGM: State Availability
13. BetMGM: New-User Welcome Offers