View of the stadium from the Coors Field in Denver Colorado. Justin Edmonds/Getty Images/AFP
The US legal betting industry for sports is growing at a rapid pace. As we enter fall, new markets and providers are joining the sports betting provider family. The latest is China-based online sports betting/lifestyle company MaximBet, an affiliate of men’s lifestyle brand Maxim who announced Friday that is has gone live in Colorado.
Since joining the US legal sports betting group in May 2020, Colorado has been a huge success. It consistently ranks among the top six most bet-friendly US states. This is thanks to a dedicated sports betting/fan base as well as the presence of all the leading wagering providers in the United States, who are always engaged in a fierce battle for market share.
What is MaximBet?
Maxim Magazine is prominently displayed in a magazine section of your local pharmacy or grocery store. MaximBet, the top lifestyle brand’s sports betting product, brings a high-profile to the legal sports betting industry.
MaximBet was the result of a partnership agreement between the publication, Carousel Group and the latter already having a presence on the US legal sports betting scene. Carousel Group previously launched SportsBetting.com in 2020 – a product that has since been rebranded under the MaximBet name.
It was through Carousel Group’s market access into Colorado that MaximBet was able to launch in the state. A deal with the White Mountain Apache Tribe gave MaximBet market access to the Arizona market.
MaximBet says that there are plans to launch in New Jersey, Indiana, Iowa and Indiana. MaximBet, if and when it launches in these states, would have five markets that are considered top-tier.
Gaining market share
MaximBet has entered the US legal sports betting marketplace two years after the entry of other big providers. MaximBet will also be entering a Colorado market, which has been in operation since May 2020. There will be some catch-up.
Maxim has seemed to make all the right moves so far however, aligning with Carousel Group and launching in one of the most reliable markets in the country – Colorado. They are now bringing a user-friendly platform and some of the best sportsbook bonuses to the market.
MaximBet will also offer a highly-hyped loyalty program, which should help them attract new customers in Colorado as well as keep existing ones.
“Every bet you place inches you closer to the rewards you deserve with a loyalty program that puts you first,”According to Maxim. “You can redeem your points for free credits or bank them up for
Access to unique, one-of a kind prizes and experiences No matter which way you decide to play, from day one, you’ll feel like you’ve made it.”
Get in on the Action
There are many companies looking to capitalize on the legal US sports betting market. Although a men’s/lifestyle magazine publication may not exactly seem like the ideal business to be entering the industry, Maxim’s alliance with Carousel Group, which has roots already in the US scene should make it a smooth transition.
MaximBet will attempt to gain a piece of an enormous pie – one that analysts think could be in the $10 billion range by 2025. The exploding US market is expected to have enough money.
MaximBet’s journey all starts with a competitive and saturated Colorado market, with the promise of more to come.
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