# Novig vs Underdog > Independent. Not affiliated with, endorsed by or sponsored by Novig. Canonical: https://novigapi.com/compare/novig-vs-underdog Facts checked: 2026-11-12 Novig runs its own exchange; Underdog Predict is a broker. Checked 12 Nov 2026, Underdog Predict is a CFTC-registered futures commission merchant whose contracts come from exchanges including UDX, Kalshi and Crypto.com. Novig publishes its taker fee, 0.06 x P x (1 - P), charged only in-game on game markets. (Source: [Underdog Predict disclosures](https://underdogsports.com/predict)) Underdog started in fantasy pick'em and now offers event contracts as Underdog Predict. Its disclosures describe three layers: UDM, LLC as a registered FCM, its own exchange UDX operated by Aristotle Exchange DCM, and contracts listed on Kalshi and Crypto.com. Novig is a single exchange that you trade on directly. ## Fees Fees, checked 12 Nov 2026 | Fees (checked 12 Nov 2026) | Novig | Underdog Predict | | --- | --- | --- | | Taker formula | Taker pays 0.06 x P x (1 - P) per $1 of payout; makers pay nothing | Not published on the disclosures page; depends on the listing exchange | | 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 | Not published | | Maker side | No fee; credit of 25% of the taker fee on game markets, 50% on futures | Not published | | $100 of payout at 50% | $1.50 if live; $0 pregame on game markets; $1.50 any time on major US league futures | Not published | Underdog's page says that by trading you risk losing your cost to enter any transaction, including fees, but it does not print them. Check the fee shown on the order ticket before you confirm. ## Coverage Coverage, checked 12 Nov 2026 | Coverage (checked 12 Nov 2026) | Novig | Underdog Predict | | --- | --- | --- | | Sports | Sports only: NFL, NCAAF, NCAAB, NCAAWB, MLB, NBA, WNBA, NHL, PGA, ATP, WTA, UFC, F1, NASCAR among the leagues its fee docs list | Sports event contracts; also fantasy pick'em in the same app | | Markets | Game lines, player props, futures, series winners; parlays priced through RFQ | Picks, spreads, totals, moneylines and parlays, per its disclosures | | States and regions | All US states except Nevada, Arizona and Michigan, judged by physical location; 21+ | 18+ and present in a state where Underdog Predict operates; full list not on the page | | Regulator | Ludlow Exchange, LLC (doing business as Novig), CFTC-designated contract market since 16 Jun 2026 | UDM, LLC is a CFTC-registered FCM; UDX is Aristotle Exchange DCM, designated 5 Sep 2025 | ## Data access Data access, checked 12 Nov 2026 | Data access (checked 12 Nov 2026) | Novig | Underdog | | --- | --- | --- | | Official API | Yes: signed trading API at docs.novig.com; needs an account, KYC and a location check in production | No public market data API on the pages we read | | Public data | Free daily CSVs at data.novig.com (trades and markets), no names, around 5 a.m. ET | Contract specifications and rules are published | | History | Trades from 3 Aug 2026, market snapshots from 4 Aug 2026, daily only | Not published | | 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 | For research, Novig is easier to work with: one venue, one fee formula, and free daily files of every trade. [novigapi.com](https://novigapi.com/novig-api) adds names and intraday line history without a Novig account. ## Why the route matters When you trade through a broker app, the exchange on the other end sets the contract rules and the fee schedule, and the app may add its own charge. Underdog Predict names three possible exchanges: its own UDX, Kalshi, and Crypto.com | Derivatives North America. Each publishes different rules, so the same pick can carry different terms depending on where it lists. 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. If you want one rulebook and one fee formula, trade on an exchange directly. ## Who should use which - **Fantasy players who want everything in one app**: Underdog. - **Traders who want a fee they can compute in advance**: Novig. - **Under-21 adults**: Underdog Predict requires 18+; Novig requires 21+. - **Developers**: Novig, for its published API and data files. Age is another practical difference. Underdog Predict's disclosures require users to be 18 or older and present in a state where it operates, while Novig requires 21 or older and judges eligibility by physical location each time you open the app to trade. If you travel into Nevada, Arizona or Michigan with open Novig positions, they still settle, but you cannot place orders, deposit or withdraw until you leave. ## Verdict Underdog is a convenient front end over several regulated exchanges; Novig is the exchange itself, with a published fee and published data. If cost transparency matters, Novig is the clearer choice. ## Questions ### Is Underdog Predict an exchange? Underdog Predict is UDM, LLC, a CFTC-registered futures commission merchant. Its own exchange, UDX, is operated by Aristotle Exchange DCM, and it also routes to Kalshi and Crypto.com (checked 12 Nov 2026). ### Is peer-to-peer sports betting legal? Federally regulated sports event contracts trade on CFTC-designated exchanges such as Ludlow Exchange (Novig). Novig says it is available in every state except Nevada, Arizona and Michigan, judged by physical location (checked 12 Nov 2026). ### What is the minimum age on Underdog Predict and Novig? Underdog Predict requires users to be 18+; Novig requires 21 or older, per each company's own pages (checked 12 Nov 2026). ## Sources - [Underdog Predict disclosures](https://underdogsports.com/predict) - [CFTC: Designated Contract Markets list](https://www.cftc.gov/IndustryOversight/IndustryFilings/TradingOrganizations?col=Status&dir=DESC&page=1) - [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) - [Novig Help Center: Eligibility & Legality](https://support.novig.com/en/articles/16194031-eligibility-legality) - [Novig docs: Exchange Data](https://docs.novig.com/public-data/overview.md) --- Get a free API key: https://novigapi.com/sign-up . Docs: https://novigapi.com/docs . MCP: https://novigapi.com/api/mcp . Operated by Stunning Couches LLC. Independent. Not affiliated with, endorsed by or sponsored by Novig.