# Novig odds: how to read percentage prices > Independent. Not affiliated with, endorsed by or sponsored by Novig. Canonical: https://novigapi.com/guides/novig-odds-percentages Facts checked: 2026-11-12 Novig odds are percentages because each contract's price is the market's implied probability: 60% means a 60-cent contract that pays $1 if it wins, roughly -150 in American odds. OddsShopper reported on 27 August 2026 that Novig dropped American odds after relaunching as a CFTC-regulated exchange, where probability pricing is the convention. (Source: [OddsShopper: Novig odds format change (27 Aug 2026)](https://www.oddsshopper.com/articles/prediction-markets/novig-odds-format-change)) ## A percentage is a price On Novig the number next to an outcome is what one contract costs, written as a percentage of $1. A team at 40% costs 40 cents per contract; if it wins, each contract pays $1.00, so a $40 stake returns $100. Novig's help center describes contract prices as the market's live estimate of the probability that an outcome happens. Nothing about the underlying game changes when the label moves from -150 to 60%; it is the same number written differently. ## Why did Novig change to percentage? OddsShopper, writing on 27 August 2026, tied the switch to Novig's relaunch as a federally regulated exchange: the CFTC designated Ludlow Exchange, LLC on 16 June 2026 and Novig went live as a real-money exchange on 4 August 2026. Contracts on a regulated exchange trade between $0 and $1, so the price itself is the natural display. Novig's own help pages describe prices this way but do not publish a separate explanation of the display change, so treat the reason as reported rather than confirmed by Novig. ## Converting a Novig price ``` decimal = 1 / p; American = -100 x p / (1 - p) when p > 0.5; American = +100 x (1 - p) / p when p < 0.5 ``` p is the Novig price as a fraction, so 60% is 0.60. Profit per $100 staked is 100 / p - 100. Novig prices converted (calculated, before any fee) | Novig shows | Decimal | American | Profit on $100 if it wins | | --- | --- | --- | --- | | 10% | 10.00 | +900 | $900.00 | | 20% | 5.00 | +400 | $400.00 | | 25% | 4.00 | +300 | $300.00 | | 33.3% | 3.00 | +200 | $200.00 | | 40% | 2.50 | +150 | $150.00 | | 50% | 2.00 | +100 | $100.00 | | 52.4% | 1.91 | -110 | $90.84 | | 60% | 1.67 | -150 | $66.67 | | 75% | 1.33 | -300 | $33.33 | | 90% | 1.11 | -900 | $11.11 | For any other number, the [Novig odds converter](https://novigapi.com/novig-odds-converter) does the three formats at once. ## What the percentage hides: fees Novig's order book shows prices before fees. When a taker fee applies, the order ticket adds it on top. Under the schedule checked 12 Nov 2026, a live or futures taker pays 0.06 x P x (1 - P) per contract, so taking 100 contracts at 50% costs $51.50 rather than $50.00, an effective price of about 51.5%. Pre-game straight trades carry no fee, so the percentage you see is the percentage you pay. Parlay quotes already include their fee. The [fee calculator](https://novigapi.com/novig-fee-calculator) shows the effective price for any fill. ## Reading both sides of a market A sportsbook line of -110 on both sides converts to 52.4% each, which sums to 104.8%. The extra 4.8 points is the book's margin. On an exchange the two sides of a liquid market should sum close to 100% because there is no house margin in the price; what remains is the spread between the best prices users are offering. Adding the price you would pay on each side tells you how tight the market is. To strip the margin out of a sportsbook line so you can compare it with Novig, use the [no-vig calculator](https://novigapi.com/no-vig-calculator). ## Prices move while you watch A Novig percentage is not a fixed line. It is the best price another user is offering right now, and it moves as orders arrive, as news breaks and as the game is played. A contract you bought at 40% can trade at 55% at halftime, and selling there locks in 15 cents a contract before any fee. The same applies in reverse. Because the number is a price rather than a payout, your profit or loss on an open position is simply the current price minus what you paid, times the number of contracts. Parlay quotes and protected props are also shown as percentages, but they are separate prices: a parlay quote already contains its fee, and a protected prop usually sits below the standard market on the same player because it pays out less when he sits out the second half. ## Comparing Novig with a sportsbook 1. Convert the sportsbook's two prices to probabilities and remove the margin to get a fair probability. 2. Take the Novig price you can actually trade at, and add the taker fee if one applies. 3. If your all-in Novig price is below the fair probability for the same outcome, the exchange is the cheaper way to hold that position. If you work with this data in code, Novig has an official trading API and free daily CSVs. [The Novig data API](https://novigapi.com/novig-api) is an independent, read-only layer on top: no Novig account, names resolved, intraday line history, fair prices and alerts. ## Questions ### Why did Novig change to percentage? OddsShopper reported on 27 Aug 2026 that the switch followed Novig's relaunch as a CFTC-regulated exchange, where contracts trade between $0 and $1 and the price is the probability. Novig has not published a separate explanation. ### What are Novig odds? Novig odds are contract prices shown as percentages. A price of 70% means one contract costs 70 cents and pays $1 if the outcome happens, which is about -233 in American odds. ### Does Novig have the best odds? It depends on the market and the moment. Pre-game straight trades carry no vig or fee, which often beats a sportsbook line with margin, but thin markets can have wide spreads and live trades add a taker fee. Compare the all-in price against a de-vigged fair line. ### How does Novig make money if there is no vig? Through published trading fees on live, futures and parlay trades, charged to takers. Pre-game straight trades and maker fills carry no fee under the schedule checked 12 Nov 2026. ## Sources - [OddsShopper: Novig odds format change (27 Aug 2026)](https://www.oddsshopper.com/articles/prediction-markets/novig-odds-format-change) - [Novig Help Center: What is Novig?](https://support.novig.com/en/articles/10336081-what-is-novig) - [Novig Help Center: Fees on Novig](https://support.novig.com/en/articles/16195057-fees-on-novig) - [Novig API docs: Trading fees](https://docs.novig.com/api/concepts/fees) - [CFTC: Designated Contract Markets list (Ludlow Exchange, LLC, designated 06/16/2026)](https://www.cftc.gov/IndustryOversight/IndustryFilings/TradingOrganizations?col=Status&dir=DESC&page=1) --- 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.