Novig has secured a partnership with U.S. Integrity ahead of the proposed launch of its sports betting exchange in Colorado.

The partnership will see U.S. Integrity provide integrity monitoring services through its dashboard to Novig. Novig’s Colorado sports betting launch will be its first in the United States, with expansion penned should the betting exchange prove a success.

U.S. Integrity will monitor all activity on the new platform, as well as the sports offerings. The company will provide information where relevant on suspicious betting patterns and match fixing. U.S. Integrity conduct analysis across “dozens of data sets” in order to “proactively identify regular contest-level, officiating & wagering patterns”.

Matthew Hold, U.S. Integrity Co-founder and CEO commented: “U.S. Integrity is proud to partner with Novig and as they launch a new innovative platform. Novig, a sports betting exchange is a unique and enhanced alternative to traditional sports betting in the Colorado market.”

He continued, “U.S. Integrity’s mission is to provide conflict-free, best in class insights & compliance solutions to our clients. We are looking forward to their launch date and collaborating with the exceptional team at Novig. All our partners are committed to the highest integrity standards, and they are no exception. These partnerships and more specifically betting exchanges, help ensure and improve sports betting integrity while strengthening the unique & proprietary anomaly detection tools we have developed at U.S. Integrity.”

“Vigorish: the percentage deducted from a gambler’s winnings by the organizers of a game”

Brought to the English language through Yiddish slang, ‘Vigorish’ is simply the fee charged by a bookmaker for accepting a gambler’s wager. The sports betting exchange, Novig is simply based on the idea of eliminating the house cut, hence the ‘No’ ‘Vig’.

Currently, most American states are only regulating traditional sportsbooks. New Jersey sports betting currently hosts the only two licensed sports betting exchanges in America – Prophet Exchange and Sporttrade. Both exchanges have shown interest in expansion, but regulatory progress has been slow.

Illinois has legalized sports betting but additional laws are needed for exchanges. Rep. Robert “Bob” Rita filed HB1405 proposed in January 2023 amendments to the state’s Sports Wagering Act to allow “exchange trade wagering”. The bill followed the often-trodden path of most gambling related legislation and didn’t make it through the house.

Colorado, on the other hand, has legalized sports betting exchanges but is yet to decide on the rules and regulations surrounding it. The sticking point surrounds the taxation of an exchange’s commission, and until that’s ironed out exchanges won’t be launching just yet.

Challenges for sports betting exchanges remain in the United States. Given the fragmented, state by state nature of regulation, liquidity on an exchange will have to be provided on an individual state basis. This eliminates the potential of several states already.

This hasn’t stopped the optimism of Dan Rosen, Head of Operations at Novig. He commented: “The unwavering integrity of our platform and the user experience it provides are the cornerstones of our operation at Novig. As we build an industry-leading sports betting exchange, our partnership with U.S. Integrity allows us to fortify these foundational elements. We’re excited to align ourselves with a group celebrated for upholding exceptional standards in safeguarding sports betting integrity.”