Quantitative Sports Trader
$60k – $90k • 0.03% – 0.10%
Summary:
- The first peer-to-peer sports prediction market, recently closed a $6m seed round from YC, Lux, Soma, Paul Graham, Joe Montana, Innospark, the founders of Instacart and Dropbox, and many other top angels and funds
- Looking for a Finance & Operations Manager or Director to work out of our NY office (4 days/week on-site)
- Salaries at the top of benchmarks, with significant equity ownership and generous benefits
- Founders are recent Harvard grads with quant experience at Jane Street and BoA and years of experience as sharp sports bettors
- $300B annually bet on sports in the US and the size of the market is rapidly growing, particularly given the opportunity for operators to capitalize on the sweepstakes business model
- Currently the only way to bet is with retail sportsbooks which have egregious margins, discriminatory and inefficient practices, and a stale betting experience
- Novig is a sports prediction market that guarantees users the best lines by allowing them to play directly against friends or the market, rather than against the house, making the wagering experience more efficient, fair, and, most importantly, profitable
What will you do?
As part of our trading team, you will:
- Monitor and respond to order flow on our in-house trading platform
- Categorize users to properly adjust our pricing in response to their activity
- Manage risk and make decisions based on internal models, market dynamics, and team/player news
- Work closely with our quants and trading engineers to improve our tools and hone our performance
Our research and trading teams will work closely together at the intersection of sports analytics and market theory. By utilizing our proprietary prediction models, public sports betting data, and your own game theoretic intuition, you will play a crucial role in supplying liquidity across our markets.
What are we looking for?
We’re looking for people with a strong trader instinct: familiarity with probability and statistics, intuition for risk management, and a deep understanding of markets and game theory. As an ideal candidate, you are familiar with the major American professional and college leagues, as well as the market life cycles around them. You should also be available to work during peak trading hours, which are weekends and evenings.
Who is Novig?
At Novig, we have reimagined the sports betting landscape by building a sweepstakes-based sports prediction market. Our innovative platform allows users to engage in sports predictions without traditional gambling constraints. By leveraging the sweepstakes model, we ensure compliance with regulatory requirements while providing a unique, engaging, and profitable experience for our users. Our goal is to make sports prediction more accessible, fair, and enjoyable.Novig’s founders, Jacob and Kelechi, are recent Harvard grads with experience at Jane St & BoA who started Novig with the belief that a commission-free P2P exchange model will replace the exploitative and unprofitable betting model of traditional sportsbooks.
They themselves were sophisticated sports bettors who grew increasingly frustrated by the latency, discriminatory practices, monotony, and non-profitability of the retail sports betting experience.As the regulatory landscape evolves in the United States, Novig is positioned to become a leading innovator with our unique focus on research and technology.
How does Novig approach compensation?
We are big believers in providing excellent compensation to everyone on the team as we build.
- We offer salaries at the top of the benchmarks you’d find for senior roles at big name companies
- We provide equity to all employees regardless of role. We are looking for people who can grow with us as we scale our team and product, and we think it’s important for all employees, especially our first few teammates, to have significant equity in the company so you have skin in the game and our incentives are aligned.
What benefits does Novig offer?
We are embarking on an ambitious journey and are committed to providing generous benefits, even at this early stage.
- Robust health, dental, and vision plans, covering 100% of health premiums and 90% of dental and vision premiums
- Generous 401(k) plan, matching up to 4% of base salary
- Health Savings Account (HSA) with $1,080 annual company contributions
- $24/day food or commuter stipend when working in our new office
