Sports prediction market Novig announced on Thursday that it would pay out voided bets that it allegedly took some time voiding in the first place, telling users that the exchange operator "got this wrong."
Key Takeaways
- The sports prediction market made the error while trying to fix a bug.
- One user claimed to have had their balance negatively adjusted to the tune of $130,000.
- Novig said it is committed to transparency and accountability.
Novig, a still-young company that also uses the sweepstakes-style “dual currency” model, announced the decision after catching flak on social media.
We got this wrong. In a rush to fix the SGP bug before NFL Sunday, we were too aggressive in cancelling trades that already won. We have decided to honor all these trades and pay them in full.
— Novig (@Novig) December 4, 2025
Building the most trusted prediction market means listening to customers and owning… https://t.co/aXRWqPt41v
One user said he’d placed NHL same-game parlays that were “matched” and paid out on Friday, with the winnings then used to place more trades.
But on Sunday, the user said their balance was negatively adjusted to the tune of a $130,000 decrease, and told that the trades were accepted in error after already being graded as wins.
Enjoying Covers content? Add us as a preferred source on your Google account“We got this wrong,” Novig’s X account said. “In a rush to fix the SGP bug before NFL Sunday, we were too aggressive in cancelling trades that already won. We have decided to honor all these trades and pay them in full.”
Choppy waters
While the affected traders appear to have been made whole, the situation arose at a sensitive time for both sweepstakes casinos and prediction markets in the U.S.
Lawmakers and regulators have taken aim at the legality of both models of online gambling with legislation, cease-and-desist letters, and legal filings.
Yes, it appears @Novig has decided to do the right thing and reverse the adjustment on my account. I just got off the phone with @j__fort and he humbly apologized for revoking my winnings. He seems like a good dude who wants to run an exchange the right way even if he had to… https://t.co/V4z30wGQFE pic.twitter.com/XGBcN5iMpP
— dylanbets (@dylanbets33789) December 4, 2025
Sweeps and prediction markets operate outside the traditional, state-regulated model for online sports betting in the U.S. This means they are not subject to the same rules that online sportsbooks must abide by in states, such as those governing how bets can be voided.
Novig is not under the oversight of state sports betting regulators, nor is it under the jurisdiction of the Commodity Futures Trading Commission either, as other prediction markets are.
And while sweeps and prediction markets may attract more mature, sharper bettors, the winnings-to-voided-to-winnings again situation at Novig highlights that there are also ongoing growing pains.
“Building the most trusted prediction market means listening to customers and owning mistakes,” Novig said. “We’re committed to transparency, accountability, and putting our users first.”
