Business of Betting Podcast16 Tammi 2024

E197 - Jacob Fortinsky from Novig

On this episode of the Business of Betting Podcast, Jason is joined by Jacob Fortinsky, co-founder & CEO of Novig.

Hear them discuss:

02:43 - The current controversy at Harvard, Jacob's alma mater

06:40 - Companies taking political stances, and how Jason and Jacob think about that within their companies

09:31 - Jacob's experience meeting Paul Graham, the founder of Y Combinator

12:04 - High concept overview of Novig

13:35 - Raising $7 million from investors to build Novig

15:30 - What Jacob thinks Jason should have done differently building Smarkets

17:48 - Attracting institutional liquidity providers to sports betting exchanges

20:05 - Sports betting as a zero sum game

24:14 - Price sensitivity of different customer segments

25:50 - Novig's recent launch in Colorado

29:42 - The Novig business model

31:09 - Why the Novig exchange had to launch as a fixed odds sportsbook

32:47 - What Jacob wants to be when he grows up

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