Novig Sportsbook Pauses Colorado Operations
Novig, a relatively new player in the Colorado sports betting market, has announced a temporary closure of its operations to implement product updates.
Launched just three months ago, the company has decided to take a step back to enhance its offerings and potentially introduce a new betting exchange model.
Regulatory Hurdles and Operational Challenges
While Novig’s initial vision for Colorado included a betting exchange system where players set their own odds, regulatory approvals have not yet been obtained.
Consequently, Novig has been operating as a conventional sportsbook, offering standard betting options like moneylines, spreads, and totals across major sports including NFL, NBA, and NCAA events.
Vague Timeline for Return
The announcement to customers about the temporary closure was short on specifics, mentioning only that Novig plans to return to the Colorado market “later this year.”
Novig has advised its customers to withdraw any funds from their accounts by the end of April. For those who do not initiate a withdrawal, the company has promised to issue refunds via mailed checks.
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