# Novig vs Betfair

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Canonical: https://novigapi.com/compare/novig-vs-betfair
Facts checked: 2026-11-12

Both are exchanges, but they charge differently. Checked 12 Nov 2026, Betfair charges commission on net winnings in a market, at a Market Base Rate set by your country, while Novig charges takers 0.06 x P x (1 - P) per $1 of payout, only in-game on game markets. Novig serves the US; Betfair sets rates by country of residence. (Source: [Betfair Support: What is Commission](https://support.betfair.com/app/answers/detail/413-exchange-what-is-commission-and-how-is-it-calculated/))

Betfair Exchange is the long-running UK-born exchange where users back and lay outcomes. Novig is a US sports exchange regulated by the CFTC. The core idea is the same, traders against traders, but the fee and the regulator are not.

## Fees

Fees, checked 12 Nov 2026

| Fees (checked 12 Nov 2026) | Novig | Betfair Exchange |
| --- | --- | --- |
| Formula | Taker pays 0.06 x P x (1 - P) per $1 of payout; makers pay nothing | Net winnings x Market Base Rate x (100% - discount rate) |
| When it applies | Game markets: only while the event is live. NFL, NCAAF, NCAAB, NCAAWB, MLB, NBA, WNBA and NHL futures: always. Golf, tennis, UFC, F1 and NASCAR futures and series winners: never | Only on markets where you have net winnings |
| Rate | Coefficient 0.06 | Market Base Rate by country of residence; Betfair's examples use 5% and 6.5% |
| $100 of payout at 50%, a win | $1.50 if matched live; $0 pregame | $2.50 on a $50 net win at a 5% rate |
| $100 of payout at 50%, a loss | $1.50 if matched live; $0 pregame | $0 |


Betfair's model is like ProphetX's: losing markets cost nothing, winning ones pay a percentage. Novig's model charges per fill regardless of outcome, but only on in-game fills of game markets, so pregame trading is free. Betfair Predicts, its prediction product, uses the same commission formula.

## Coverage

Coverage, checked 12 Nov 2026

| Coverage (checked 12 Nov 2026) | Novig | Betfair Exchange |
| --- | --- | --- |
| Sports | Sports only: NFL, NCAAF, NCAAB, NCAAWB, MLB, NBA, WNBA, NHL, PGA, ATP, WTA, UFC, F1, NASCAR among the leagues its fee docs list | Global sports, with deep soccer, horse racing and tennis markets |
| Markets | Game lines, player props, futures, series winners; parlays priced through RFQ | Back and lay on match odds, totals and more |
| States and regions | All US states except Nevada, Arizona and Michigan, judged by physical location; 21+ | Rates set by country of residence; US access not covered by the pages we read |
| Regulator | Ludlow Exchange, LLC (doing business as Novig), CFTC-designated contract market since 16 Jun 2026 | Licensed outside the US; not a CFTC venue |


## Data access

Data access, checked 12 Nov 2026

| Data access (checked 12 Nov 2026) | Novig | Betfair |
| --- | --- | --- |
| Official API | Yes: signed trading API at docs.novig.com; needs an account, KYC and a location check in production | Yes: a developer exchange API with its own developer forum |
| Public data | Free daily CSVs at data.novig.com (trades and markets), no names, around 5 a.m. ET | Not covered by the pages we read |
| History | Trades from 3 Aug 2026, market snapshots from 4 Aug 2026, daily only | Not covered by the pages we read |
| What novigapi.com adds | No Novig account, player and team names joined, intraday line history, fair prices, line moves, MCP | Nothing: novigapi.com covers Novig only |


Betfair has long had a developer programme for its exchange. Novig's equivalent is the signed trading API at docs.novig.com, plus the free daily files. For read-only Novig data without an account, use [novigapi.com](https://novigapi.com/novig-api).

## Comparing the two in practice

Novig's own worked examples, per $100 of payout at the 0.06 coefficient: $1.50 at 50%, $1.26 at 30% or 70%, and $0.54 at 10%. The fee is charged to five decimal places with no cent floor, and a pregame fill on a game market owes nothing. Betfair's commission instead scales with your net winnings in a market and your Market Base Rate, which Betfair sets by country of residence and can reduce with a discount rate.

Betfair also notes that customers opted into My Betfair Rewards pay the Market Base Rate only on Australasian markets. Read your own account's terms before comparing.

## Who should use which

- **US traders**: Novig, which is built for and regulated in the US.
- **UK and other non-US traders with deep soccer or racing interest**: Betfair.
- **Traders who lose more markets than they win in-game**: Betfair's net-winnings model can be cheaper.
- **Pregame traders**: Novig, with no fee on pregame fills of game markets.

A worked comparison helps. Buy $100 of payout at 50% in-game and win: Novig charges $1.50 on the fill, while Betfair at a 5% Market Base Rate takes $2.50 from the $50 net win. Lose the same trade and Novig still charges $1.50, while Betfair charges nothing. Buy it pregame on a Novig game market and Novig charges nothing either way.

## Verdict

Betfair is the mature global exchange; Novig is the US one. For US residents Novig is the practical choice, and on pregame game markets it is also the cheaper one on paper.

## Questions

### What is a sports betting exchange?

A venue that matches bettors with each other instead of taking the other side. Betfair charges commission on net winnings; Novig charges a per-contract taker fee on in-game fills of game markets (checked 12 Nov 2026).

### How is Betfair commission calculated?

Betfair's support page gives Commission = Net Winnings x Market Base Rate x (100% - Discount Rate), with the Market Base Rate set by country of residence (checked 12 Nov 2026).

### What are the top sports betting exchanges?

Betfair is the best-known outside the US. In the US, CFTC-designated sports venues include Novig's Ludlow Exchange, ProphetX, Kalshi, Polymarket US and Sporttrade DCM (checked 12 Nov 2026).

## Sources

- [Betfair Support: What is Commission](https://support.betfair.com/app/answers/detail/413-exchange-what-is-commission-and-how-is-it-calculated/)
- [Betfair Support: What is the Market Base Rate](https://support.betfair.com/app/answers/detail/412-exchange-what-is-the-market-base-rate/)
- [Novig docs: Trading Fees](https://docs.novig.com/fees.md)
- [Novig docs: Trading fees (game and futures schedules)](https://docs.novig.com/api/concepts/fees.md)
- [CFTC: Designated Contract Markets list](https://www.cftc.gov/IndustryOversight/IndustryFilings/TradingOrganizations?col=Status&dir=DESC&page=1)
- [Novig docs: Exchange Data](https://docs.novig.com/public-data/overview.md)

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