Tag: MaximBet

MaximBet ceases operations amid “challenging” macroeconomic conditions

Online gambling operator MaximBet has ceased all operations with immediate effect citing “challenging macroeconomic conditions” and an “increasingly cost prohibitive marketplace”.

MaximBet announced the decision in a message to customers, saying they will have until 15 December to withdraw any funds in their accounts. After this date, any remaining balances will be refunded via cheque sent to the address on the account.

Players are no longer able to deposit more funds or place net bets, but MaximBet said that it would settle any existing bets in line with its MaximBet House Rules until 15 December. At this point, MaximBet said bets will be cashed out at “current fair value market pricing” and player balances will be returned via cheque.

MaximBet was founded in April of 2021 through a collaboration between sports betting operator Carousel Group and media brand Maxim, supported by a $50m investment from the xSigma subsidiary of Chinese engineering business ZK International.

At the ti..

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MaximBet continues US expansion with Indiana launch

Carousel Group-operated MaximBet has gone live in a second US state by launching in Indiana.

The brand will operate online gambling in Indiana using technology from Kambi Group and White Hat Gaming. MaximBet will leverage Kambi’s betting solutions, while its White Hat Gaming partnership covers a full-service online gaming platform and PAM solution, including proprietary technology such as in-house cashier and traveling wallet.

“We’re unwavering in our commitment to bring sports fans the greatest sports betting experience in the world, and that starts with premium content and a world-class betting environment,” MaximBet founder and chief executive Daniel Graetzer said.

Graetzer added that the launch in Indiana sets the path for expansion in other states including Iowa, New Jersey, Pennsylvania and Ohio, as well in the Canadian province of Ontario.

This will be made possible via Carousel Group’s partnership with Caesars Entertainment, a 10-year deal under which MaximBet can rapidly s..

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MaximBet and Genius pen data, marketing and trading deal

Sportsbook operator MaximBet has penned a new data, trading and personalised marketing partnership with sports data and technology business Genius Sports.

Under the terms of the agreement, Genius will provide MaximBet with its PreMatch, LiveData and LiveTrading product offerings, which deliver live feeds and pricing options.

The UK-based business will also supply sports content for MaximBet, including NASCAR, NCAA, EPL, FIBA and the NFL.

The operator will have access to Genius’s NFL product, which includes real-time statistics from the league and the official sports betting data feed. MaximBet also will have access to the official data feed for betting on NCAA sports.

Genius announced similar sports deals with ScoreBreak and Tipsport in July, soon after becoming the official distributor of NCAA data.

MaximBet CEO Daniel Graetzer said that the deal will help the business facilitate its North American growth.

“A premium betting experience requires the best and most exclusive conten..

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Why MaximBet is more than a sum of its parts

When PASPA was repealed, Daniel Graetzer saw the biggest opportunity of his career. Having gone all-in on the market, he is now running a nationally recognised brand in MaximBet.

When it comes to partnerships between US media giants and sportsbooks, it tends to be the market leaders that get mentioned. It could be 888 using the Sports Illustrated brand for its US push. Or Penn National acquiring Barstool Sports and theScore to drive its growth.

The rampant speculation around ESPN moving into betting operations tends to cite DraftKings or Caesars as being its most likely partner. In short, the companies involved tend to be large, and listed.

But MaximBet, a challenger launched in 2021, has successfully pivoted from a Europe-focused, multibrand business into a US-focused, media brand-driven competitor.

And chief executive Daniel Graetzer is keen to stress that MaximBet is not just a gimmick – he’s building a new proposition for the US sportsbook industry.

Building betting into a..

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