The United States sports betting industry continues to grow, and there are no signs of things slowing down any time soon. With this in mind, two unlikely sources are teaming up to break into the sports betting industry.
Maxim magazine has formed a partnership with Carousel Group, a private sports betting and casino operator. This new partnership has formed MaximBet.com, and it will be looking to break into sports betting markets across the country.
When this new site is launched, customers will be able to access both sports betting and online casino gambling in states that allow both betting options. Maxim will provide an excellent resource for print and media marketing and advertising.
Even though Maxim is a very unlikely company to break into the sports betting industry, it has seen the potential revenue that this industry provides. This also isn’t even the first time in the last few weeks that a seemingly random company has formed a partnership to attempt to offer sports betting.
Last week, Bowlero Corp., which runs bowling alleys across the country, announced its intention to begin offering sports betting at some locations throughout the United States. To strengthen its case, Bowlero partnered with BettorView, a sports betting/marketing company.
It’s unclear what states MaximBet is looking to target, but it clearly wants to make a big splash in the industry. New Jersey, Pennsylvania, and Colorado seem like the most likely targets at this time.
MaximBet also announced in its statement that it is hoping to offer sports betting later this year, so the company is looking to work quickly. Maxim magazine has built up a massive following over the last few decades, and the name alone could allow it to find success in the United States sports betting industry.
Carousel Making Other Big Moves
While Maxim is the biggest name for most in this partnership, Carousel has made other big moves of late. In Colorado, Carousel is already a well-known name, and this new partnership could make the company even bigger.
Carousel Group owns and operates SportsBetting.com, which is one of the latest sportsbooks to hit the market in Colorado in 2021. SportsBetting.com is expected to launch in three more states in 2021 as market access has been secured for Indiana, Iowa, and New Jersey.
It takes some capital and additional funds to break into the United States Sports betting market, and Carousel Group has secured enough funds to make this growth a possibility. Carousel recently announced a deal with xSigma Entertainment Limited, which will give the company $50 million.
This new deal will make xSigma Entertainment Limited a capital partner to MaximBet moving forward. The funds will be used solely to expand throughout the United States, and eventually, revenue is expected to be generated.
The Carousel Group has already proven to be successful in sports betting, but it will now attempt to do the same in the iGaming industry.