MaximBet withdraws from US sports betting

Other WE sports betting operator is calling closes.

MaximBet emailed to customers Wednesday announcing that it is ceasing operations. The decision comes as more operators shut down online sports betting this year. The bookmaker is no longer accepting bets, with withdrawals available until December 15thafter which the balances will be sent by cheque.

“It is with sincere distress that we have informed our incredibly loyal customers that the current macroeconomic conditions have caused MaximBet to cease operations,” read a statement from MaximBet. “MaximBet was launched in 2021 with the desire to bring together sports, entertainment and betting, all within a lifestyle brand with a complete focus on the end user. While we make great strides in offering customers a unique gaming experience, our ability as an early-stage company to compete in a market where operating costs far exceed revenues, even among the best operators, does not it is sustainable.

“Our priority now, in consultation with state regulators, is to close operations and help active clients in Colorado and Indiana withdraw their funds and close their accounts.”

MaximBet blocks US sports betting

Despite owning the brand, Carousel Group renamed MaximBet to 2021 as a way to connect with the young adult male demographic through a partnership with Maxim magazine.

Less than two years ago, Carousel Group relaunched $50 million to help grow the MaximBet operation. The company carried on Nicki Minaj And MLB player Charlie Blackmon as ambassadors for sports betting.

In SeptemberMaximBet has been launched Indiana as second live state, join Colorado. Through a 10 states collaboration with CaesarsMaximBet has plans to roll out more markets in the coming months, including:

Other US sports betting withdraws

Earlier this year, Churchill Down Inc. he announced that he was pulling TwinSpire from online sports betting, focusing instead on his horse racing business.

Last month, FuboTV announced it was shutting down its bookmaker and retiring Arizona, Iowa And New Jersey. Earlier this summer, Fubo had hoped to find a partner to help continue the sports betting experiment.

With the macroeconomic climate not conducive to capital raising and lavish customer acquisition spending and the already competitive sports betting market seeing clearer leaders, there is the potential for more operators to withdraw from US sports betting in the coming months.

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