# Novig protected props and protected markets

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Canonical: https://novigapi.com/guides/novig-protected-props
Facts checked: 2026-11-12

Novig protected props are select NFL player markets that settle at the pregame fair value if the player records no snap in the second half and has not already reached the stat target. Novig's help article, checked on 12 Nov 2026, says protection must be added before kickoff because protected markets trade pregame only. (Source: [Novig Help Center: Protected Markets](https://support.novig.com/en/articles/18234712-protected-markets))

## What protection does

A protected market is a separate version of an NFL player prop with a safety net. If the player does not record a snap in the third quarter, fourth quarter or overtime, and has not already hit the target, the market settles at its pregame fair value instead of on final stats. The reason does not matter: injury, ejection, benching or a coach's decision all count the same, and no injury designation is needed. Novig's API docs call the same idea Participation Protection.

## Which markets can be protected

- Eligible: single-player, full-game Yes or Over markets on passing, rushing, receiving or combined offensive stats, such as Over 199.5 passing yards or 1+ rushing touchdowns, and combinations such as passing plus rushing yards.
- Not eligible: Under markets, first or ordered markets such as first touchdown scorer, team, group or combined-player markets, and defensive, special teams or kicking markets.
- NFL only. Player markets in other sports have no protected version as of the check date and follow their own participation rules.
- Availability varies by game, player and market; the toggle appears only when a protected version is offered.

## How a protected market settles

Settlement of a protected NFL player market (Novig Help Center, checked 12 Nov 2026)

| What happens | How it settles |
| --- | --- |
| Player records a snap in the second half or overtime | On actual stats |
| Plays only the first half and already reached the target | On actual stats; Yes wins |
| Plays only the first half and has not reached the target | At the pregame fair value |
| Plays only the second half | On actual stats |
| Active but never records a snap | At the pregame fair value |
| Ruled inactive before kickoff | At the fair value as of the announcement |


A snap means being on the field for any offensive, defensive or special teams play, including a play wiped out by a penalty. Novig uses play-level data from Sports Info Solutions, with the NFL as backup. The fair value applies to everyone in the market, Yes and No alike, so a No holder who was winning when the player left receives the fair value payout, not a win.

## What the fair value is

Protected markets follow Novig's Fair Value Settlement rules, with one timing difference: the fair value is the market's price as of kickoff, based mainly on trading in the protected market itself. Novig sets it no later than the day after the market expires, so protected markets can settle later than standard ones.

## Protected versus standard

Protected and standard NFL player markets compared

|  | Standard market | Protected market |
| --- | --- | --- |
| Player hurt after recording a snap | Settles on actual stats | Fair value if no second-half snap and target not reached |
| Player never records a snap | Pregame fair value | Pregame fair value |
| In-game trading | Yes | No, trading closes at kickoff |
| Price | Its own order book | A separate price, usually a lower payout |


## Protected legs in parlays

In the parlay builder the protection toggle covers every eligible leg at once; you cannot protect some eligible legs and not others. If a protected leg settles at fair value and no other leg loses, the parlay does not lose because of that leg, and it settles under Novig's normal parlay rules. If any other leg loses, the parlay loses and can settle right away.

## Why protection usually costs payout

The safety net has value, so it is priced in. If an Over buyer gets fair value back when the player leaves early, the No side gives up those wins, and the protected market's Yes price reflects that. Novig says turning protection on usually lowers your potential payout. Whether it is worth it depends on how likely an early exit is and how far the protected price sits from the standard one.

## Things to check

- Protection cannot be added after you trade. Look for the Protected icon on your confirmation and in your portfolio.
- Protected positions cannot be sold once the game starts.
- The contract terms for NFL Prop, Participation Protected on Ludlow Exchange's filings page govern over any help article.

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

### My NFL player was injured. Will my Novig market be voided?

Not voided. A standard market settles on actual stats once the player records a snap. A protected market settles at pregame fair value if the player has no second-half snap and had not reached the target.

### Can I add protection after kickoff?

No. Protected markets trade pregame only, and protection cannot be added to a position you already hold.

### Do No holders win if the player leaves the game?

Not in a protected market. When it settles at fair value, every holder, Yes or No, receives the fair value payout.

### Which sports have protected markets on Novig?

Only select NFL player markets as of 12 Nov 2026. Other sports follow the participation rules listed in each market.

## Sources

- [Novig Help Center: Protected Markets](https://support.novig.com/en/articles/18234712-protected-markets)
- [Novig Help Center: Straight trades vs. parlays](https://support.novig.com/en/articles/15724187-straight-trades-vs-parlays-on-novig)
- [Novig Help Center: Fees on Novig](https://support.novig.com/en/articles/16195057-fees-on-novig)

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