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Maximbet quits US sports betting business

17th November 2022 9:22 am GMT

Maximbet has closed down its sports betting operations in the United States, one month after launching in Indiana and 14 months after going live in Colorado.

The sports betting brand operated by Carousel Group also held market access deals in Pennsylvania, New Jersey, Iowa, and Ohio, and was among the list of license applicants in Massachusetts.

Maximbet closed on Wednesday (November 16) and is no longer accepting deposits or wagers, although players can continue to access the site for withdrawal requests until December 15, 2022.

Any remaining account balances at that date will be refunded in the form of checks sent to players’ registered addresses.

Any open wagers will also settle on December 15, at which point they will be “cashed-out” at current fair value market pricing and returned via check.

Maximbet was established in 2021 when the men’s lifestyle magazine Maxim partnered with Carousel Group to launch a US-focused online sports betting and iGaming offering.

Maximbet contributed online sports betting handle of $397,012 to Indiana’s total online sports handle of $410.68m in October

There is no breakdown of Colorado sports betting handle by operator.

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