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Novig, Underdog Rapidly Gaining Ground in Prediction Market Combos

By jili tutorial · September 3, 2026

Novig and Underdog Rapidly Gain Traction in Prediction Market Combos

Prediction market “combos”—the industry term for parlays, or multi-leg wagers—are becoming a major feature of yes/no trading platforms. This trend is especially visible in sports event contracts, where newer players like Novig and Underdog are making significant progress with multi-bet offerings.

While a single operator still dominates the majority of combo volume in regulated U.S. prediction markets, emerging companies such as Novig and Underdog are showing that there is room for others to capture a meaningful share of this lucrative, sports-focused niche.

According to a new report from Eilers & Krejcik Gaming (EKG), analyst Brad Allen notes that in August, Underdog’s combo volume accounted for 48.3% of its total sports contract activity, while Novig’s stood at 35.5%.

“Underdog is another standout, ramping quickly from a standing start in July to second-best combo percentage in the market at 48.3%,” says Allen. “That surge reflects lower contract breadth, but also a customer base used to building parlays in the core Underdog pick’em product.”

The appetite for prediction market combos is clear from the data. In August, multi-leg prediction market trades—most of which involve sports derivatives—made up half of all industry-wide contract volume, a sharp rise from just 14% in February.

Novig and Underdog: Strong Early Momentum

As EKG’s analyst points out, only one exchange posted a larger combo percentage of contract volume in August than Underdog. Novig ranked fourth on that metric, while Crypto.com’s Nadex—which clears trades for multiple companies—placed third.

The rapid ascent of both Novig and Underdog is notable because they are far from established players. In fact, they are among the newest entrants in the prediction market space. Underdog launched its wholly owned prediction market exchange in July, while Novig debuted its national yes/no sports betting exchange on August 4.

Beyond their combo percentages, other metrics indicate that Novig and Underdog are two of the fastest-growing companies in the industry. This trend could continue as both firms ramp up customer acquisition efforts, especially now that football season is underway.

Don’t Overlook DraftKings

Despite the attention on newcomers, DraftKings should not be ignored in the combo conversation. Its 1.5% share of multi-leg wagers as a percentage of overall contract volume in August is misleading, since the company only introduced combos on its DKeX exchange late in the month.

That delayed launch impacted DraftKings’ monthly figures, but as Allen adds, the company “traded $11 million (in combos) in four days, which represented ~36% of its total contract volume during that time.”