When the event underlying a contract you hold concludes, the contract settles automatically — no action is required from you. Contracts settle based on the official result of the underlying sporting event, using data from the relevant league or governing body — not on Novig's discretion as a CFTC-regulated market requires transparent, rules-based settlement rather than a subjective determination.
Payout
If the outcome you held a position on occurs, each contract pays out $1.00 to your account balance. If it doesn't occur, each contract settles at $0.00.
Example: If you're holding 20 contracts on "Team A wins" and Team A wins, you receive $20.00 (20 contracts × $1.00), regardless of the price you originally paid. If you paid $0.55 per contract ($11.00 total), your gain is $9.00. Settlement value is always $1.00 or $0.00 per contract — your gain or loss is the difference between that and what you paid.
When settlement happens
Settlement occurs once the underlying event is officially final, based on the official result from the relevant league or governing body. You can check the status of any position in your Portfolio under the "Settled" tab. It may take up to 1 hour for a completed event’s results to be reflected in your Portfolio. If it’s been longer than 30 minutes, please reach out to Customer Support via in-app chat or at [email protected].
Note: ‘Over’ props may settle before the event is final.
How grading works
Official results govern. If a match is declared "official" by the league's governing body, contracts settle based on that determination.
Player props use third-party box score data. Official league websites/statistics will be the source of truth for all trades placed on the Novig platform.
Multi-game and futures markets settle once the full outcome is determined — for example, a market on a season-long award or a tournament champion settles at the conclusion of the relevant games or rounds, not after any single game.
For more information on how different markets and events are settled, you can always refer to Novig’s Market Rules.
What if I disagree with a settlement?
We will make every effort to ensure the accuracy of how contracts are settled, but if there’s an error, please reach out to Novig Support through in-app chat or at [email protected].
Frequently Asked Questions
Do I need to do anything to receive my payout?
No. Settlement and payout to your account balance happen automatically.
What if the event is postponed, cancelled, or the outcome is unclear?
Markets follow the void/push and rescheduling rules described above under "How grading works."
Why did my contract settle differently than I expected based on the live score?
In-app score displays are for reference and don't determine settlement — only the official result from the league or governing body does. A display error won't void a trade or change how a market settles.
Can a settlement be reversed after the fact?
No. Trades will settle at the conclusion of the event based on the statistics and results from official league sources.