Lifestyle brand Maxim is venturing into the sports betting industry by partnering with the Carousel Group.
The global strategic partnership will be called MaximBet which will encompass a market-leading sports betting and casino website at MaximBet.com. It will also be available to Android and IOS users in a betting app that will allow its users to bet on sports and casino games all over the world.
Said Daniel Grazier, the CEO of Carousel Group:
“Maxim has established itself as a preeminent lifestyle brand over the last 25 years, and with Carousel’s strong experience in the online betting space, together we will be able to establish a powerful new gambling brand.”
Getting Early Market Shares
With the sports betting industry booming in the United States, sportsbook companies have been partnering with sports teams, casinos, and other companies just to get the early market shares. For Carousel, tapping Maxim’s vast audience base is their way of marketing their product.
According to marketing agency Direct Action Media, Maxim is the third-most circulated men’s lifestyle magazine in the United States, behind only Men’s Health and GQ. With seven annual issues read by more than 1.4 million and a subscriber base of 250,000, Maxim has the huge network to give Carousel a big potential market.
Owners of the SportsBetting.com Brand
The Carousel Group was established in 2017 as an iGaming and sports betting company. The Carousel Group entered the U.S. market last year and has secured market access to four states. It’s most popular brand is SportsBetting.com which launched in Colorado last September.
Last February, Carousel entered into an agreement with Caesars Entertainment to help it provide access to three other states. Pending the required regulatory approvals, the pact with Caesars will allow Carousel to operate in Indiana, Iowa, and New Jersey. It announced a $50M funding round from xSigma Entertainment Limited which will be used to place MaximBet into states with legal sports betting and online casino games.