Colorado Division of Gaming grants Novig sports betting license

The first commission-free, high-frequency sports betting exchange, Novig, announced it anticipates expanding in the regulated gambling market in Colorado, the United States. Earlier this week, the company confirmed it secured an Internet Sports Betting Operator license from the gambling regulator in the state, the Colorado Division of Gaming.

This license marks an important step in Novig's expansion in Colorado and across the states. It comes ahead of the company's anticipated launch in the state next month which is expected to be completed via a market access agreement with Full House Resorts and its Bronco Billy's Casino property in Cripple Creek.

Jacob Fortinsky, the CEO and Co-Founder of Novig, shared his excitement about the recently secured license from the gambling regulator in Colorado. In a statement, he pointed out: "We're thrilled to kick off our journey in the vibrant sports betting landscape of Colorado, and we'd like to thank the Division of Gaming for their help throughout the process."

Finally, Fortinsky said: "We're committed to building an unparalleled, community-led betting experience, and we look forward to becoming the go-to destination for sports fanatics and sharp bettors alike."

Leading investors, such as Lux Capital, Joe Montana and Y Combinator, among others, are backing the revolutionary sports betting exchange. Still, for the moment, Novig won't be permitted to offer exchange wagering. This is because the launch of such options is subject to approval from the CLGC.

Until that approval is granted, Novig plans to operate as an online sports betting operator instead of an exchange. The company did not disclose when the approval from the CLGC can be expected and if that process is subject to additional conditions or requirements.

Once launching its services in Colorado, Novig's app will be available for Android and iOS devices. The up-and-coming online betting operator said that it plans to offer markets on NBA, NFL, MLB, as well as NCAAB and NCAAF initially. At a later stage, Novig said that it plans to expand its offering and include more sports at some point next year. Once the company launches its services, it plans to offer in-game and pre-game bets on the game totals, moneyline and point spread.

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