Jacob Fortinsky
@j__fort
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building @novig | @ycombinator @harvard | techno-optimist | ✡️| COYS
New York
Joined April 2018
RT @j__fort: @bebeckhardt This is what in-play liquidity looks like (converted to % for you). It’s no SIG but good enough for 99% of users….
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Hustler didn’t go as intended 🫠.
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9/ The future of sports predictions is transparent, fair, and fun. It’s peer-to-peer. And it’s already here.
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8/ Our mission is to build the best trading experience for all sports fans. Whether you care about price, product, or market variety - we’ll have the best version of it. The shift is happening. Fans are done betting against the house.
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7/ With this new capital, we’re scaling our team, expanding into more sports and markets, and bringing true marketplace dynamics to game formats sports fans already love. Novig is already the #1 sports prediction market in the United States. And we’re just getting started.
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6/ Our advantage? Accessibility. Every new user gets free Novig Coins and Novig Cash when they sign up. No purchase required. It’s why our retention rate is 3x higher than the industry average.
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5/ Since our launch last September we’ve seen:. - ~100x growth in monthly trading volume.- 2B+ annualized volume of Novig Cash.- 90% of trades fully peer-to-peer. All organic growth, powered by the Novig community.
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4/ So my cofounder @kelechisms and I asked: what if we built a real prediction market but for sports?. - Fans trading with each other, not the house.- Prices set by supply & demand.- Winners welcome, not banned. That’s Novig.
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3/ Why didn’t anything like that exist for sports?. On traditional sportsbooks, there is a steep "vig" and winning bettors are often limited or banned. If there’s a willing counterparty, fans should be able to trade on any sports outcome, at any price, with no limits.
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2/ In college, I studied political philosophy and economics. I started trading political news on prediction markets and was astounded by how efficient, engaging, and surprisingly accurate they were. It was like the stock market but for real-world events.
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There's nothing like a massively underpriced IPO to get the blood boiling. the company loses, employees lose, retail investors lose, the customers/community lose, but Wall St wins. They're incentivized to price low to guarantee a pop, minimize vol, and maximize $ for their.
WHY $FIG FIGMA IS ONE OF THE DIRTIEST GAMES WALL STREET PLAYED ALL YEAR: . Let’s dive in. Figma sold 36M shares to the public at $33/share, raising $1.2B. 24M shares came from investors, 12M came from insiders. Big banks usually underwrite an IPO. Underwriting is a fancy way
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Worth the listen for anyone interested in the future of prediction markets, information dissemination in sports markets, and market making generally.
Our very own @BigBuckHunterrr talks life philosophies, market making strategies, and the future of prediction markets on the latest episode of @BetTheProcess. This episode does not constitute financial advice, but it may change your outlook on life.
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Novig HQ is live. We started in a dorm room. Then came the SF Airbnb when we were in YC. A flex-wall apartment in LES. The WeWork in Dumbo. And finally, a sublease in Soho. Each played its role. But this one feels different. We're as hungry as ever and just beginning. The
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