- MaximBet has announced plans to launch next in Iowa and Indiana.
- Carousel Gaming announced a partnership with Maxim Media–publisher of Maxim Magazine–in early April 2021.
- MaximBet launched their platform in Colorado in November 2021.
One of the more interesting entries into the US sports betting market is Maxim Media–publishers of Maxim Magazine--who has partnered with Carousel Group on MaximBet. Malta based Carousel Group announced the strategic partnership with ‘renowned media brand’ Maxim in April 2021. The plan for MaximBet is to launch initially in the US market and internationally after that.
MaximBet now looks to be gaining some momentum and that looks like it will continue in 2022. The brand has already launched in Colorado and has secured market access in Ohio and Pennsylvania. ZK International is based in Wenzhu, China and is an investor in Maxim Media. They’ve launched a ‘free to play’ app and made a nice gesture by stepping up with some financial assistance for victims of wildfires in Colorado earlier this month. Their most recent announcement concerns some partnerships with technology providers, most notably a sports betting partnership with Kambi Group. Also announced was a partnership with White HatGaming for iGaming technology.
Today, MaximBet announced that they’ll launch next in Indiana and Iowa. The target states are far from shocking–they’re two of a handful of states that have done sports betting right and welcome innovative, new companies.
MaximBet, the lifestyle sports betting and online casino brand owned and operated by Carousel Group and in partnership with Maxim, the premier lifestyle brand, announced today that Indiana and Iowa will be its next two states to launch as part of its ongoing national expansion.
MaximBet, which launched in Colorado late last year, has separated from the pack of traditional sportsbooks by rewarding players with real world, money-can’t-buy experiences and best-in-class customer service. The company recently announced a multi-year partnership with Kambi Group plc, a leading global sports betting provider, and White Hat Gaming, a leading iGaming platform provider, on a technology stack. The partnership will provide players with a fast, intuitive and expansive betting experience featuring an incredible breadth of sports lines, live betting and creative props.
Press release hyperbole aside, MaximBet has done an impressive job at coming up with new marketing tactics leveraging the well known brand name. In particular, they’ve found ways to leverage the demographics of the Denver area to promote their Colorado sportsbook. There’s plenty of affluent, college educated and professionally employed males in the area and that’s the perfect target market for any sportsbook. It’s surprising that none of the 25 and counting online sportsbooks that have launched in Colorado *except* for MaximBet have tried to think ‘out of the box’ like this. There’s plenty of brand promotion in the Denver market but mostly through well established channels–billboard advertising, ads on the city’s light rail and buses, team sponsorship, etc. That can be effective, but I keep waiting for someone to come up with creative new ideas and they’ve been few and far between. MaximBet actually has a division specializing in parties and events which is a brilliant move.
Here’s some of the event marketing done by MaximBet:
MaximBet LIVE, a division of MaximBet specializing in parties and events, will soon announce plans for kickoff parties in each state featuring entertainers, celebrities, prizes and rewards for current and new customers. The MaximBet LIVE event in Colorado included Fat Joe and Cheat Codes as headline performers and more than $40,000 in prizes. The company just hosted a star-studded event in Los Angeles during the weekend of The Big Game featuring artists like The Chainsmokers, Lil Baby, Gunna and more.
MaximBet has started to find serious traction in Colorado:
In Colorado, MaximBet has grown into one of the state’s top operators, achieving 75% month-over-month handle gross the last three months and surpassing expectations in both customer acquisition and retention. Along with Indiana and Iowa, MaximBet is expecting to go live in a handful of additional states (and Canada) in 2022.
One guess where they’ll be launching in Canada? We’ve talked some about what a great job Ontario has done with their regulatory framework and we’ll do a ‘deeper dive’ in the weeks to come prior to their April 4 launch. Don’t be surprised when Toronto becomes an epicenter of the world sports betting industry. Within a year, there will be more sportsbooks operating in Ontario than in any US state and their monthly revenue will be right in the mix with New Jersey and Nevada.
Daniel Graetzer, CEO, MaximBet, had these comments about launching in Iowa and Indiana:
“Indiana and Iowa represent a prime opportunity for MaximBet to bring its world-class sportsbook and unparalleled real-life experiences to two of the most passionate sports markets in the country. Sports betting has been a boon for both states since 2019, but sports fans have never experienced anything like the MaximBet LIVE parties, athlete and celebrity meet-and-greets, and in-person entertainment that MaximBet will bring to these two passionate sports states. We can’t wait to show our new users in Indiana and Iowa what we have in store.”
Graetzer is a really sharp guy and he’s not going to say that Indiana and Iowa are among the few US states that don’t have their collective heads up their asses relative to sports betting. That said, I’m sure he’s well aware of this reality. MaximBet has become a smokin’ outfit in the past year (you can insert your ‘Colorado legal cannabis’ joke here) and they could become a serious player in the North American sports betting industry. Their biggest challenge is the same one facing every other company in the US market–boneheaded regulation. This is why it is crucial to create sports betting regulations that welcomes competition and innovation.
