SportsBetting.com is undergoing a rebrand.
You would think the straight-forward name is ideal, especially given the industry. But Carousel Group and Maxim will partner to create Maxim Bet.
That will eventually replace what is now SportsBetting.com, at least in the U.S.
The partnership was announced earlier this week.
SportsBetting.com first launched in Colorado in mid-September. The sportsbook has a partnership with Johnny Nolon’s Casino in Cripple Creek. The company also has market access deals in Indiana, Iowa and New Jersey and could launch in those states “soon.”
As the release says, MaximBet will be made up of a market-leading sports betting and casino website at MaximBet.com. It will offer iOS and Android apps that will allow users to bet on sports and online casinos (where available) in the U.S. and around the world.
The release adds that the new venture will leverage Maxim’s integrated network. That includes print, digital, social and experiential platforms to engage the loyal Maxim community and sports bettors alike.
Perhaps the biggest news in this, aside from ditching what you would think is the ideal name, is that Maxim is still a thing.
Since sports bettors in the state and across the country now have more questions than answers, PlayColorado did a Q-&-A with Carousel Group CEO Daniel Graetzer on this new partnership.
One aspect remains certain: The sportsbook still has the same ambitious plans for the U.S., just with a different name.
PlayCO: Why make this rebrand now?
Graetzer: We did a lot of research and ultimately decided to create a brand that delivers a broader offering of entertainment and gambling than solely a pure-play sportsbook for bettors that love doing it all.
MaximBet will offer great sports betting, of course, but it will also heavily focus on live events and experiences as well as entertaining and exclusive content. iGaming is also going to be a huge component of MaximBet and is a big part of the overall strategy.
There are a lot of sportsbooks trying to compete in the U.S., so we have decided to target a specific segment of bettors. With MaximBet, we will be bringing them something unlike anything they’ve ever seen.
PlayCO: When can bettors expect to see this?
Graetzer: We are finalizing launch plans, but bettors can expect MaximBet content starting this summer.
PlayCO: How did this partnership come together?
Graetzer: We talked to several brands to try and find the right partner that would help us build something incredible that would resonate with the segment we aim to service. After our first conversation, it was clear that Maxim was the perfect partner and we couldn’t be more excited to be on this journey with them.
PlayCO: What does this mean for SportsBetting.com?
Graetzer: SportsBetting.com will continue to be a brand and app outside of the U.S. This decision was made solely because we wanted to bring something different to the market and service a specific subset of the U.S. market.
PlayCO: How does this impact bettors in Colorado? What can they expect?
Graetzer: Sports bettors in Colorado can expect to see us invest heavily in service and loyalty. They should also expect to have a lot more fun. We are currently discussing the MaximBet launch party for Colorado and we look forward to celebrating the launch with our customers. But for now, Colorado customers can continue to wager at SportsBetting.com with no interruption or change in quality of service.
PlayCO: How excited are you to unveil this? And how do you intend on capturing a significant portion of the gambling market?
Graetzer: We couldn’t be more excited to announce this deal, which we have been working on for a long time. Also, we simultaneously closed an investment of $50 million with investors who are very supportive of our mission. Investor interest is extremely high in what we’re building and we are super stoked about the future and what it means for bettors across the country.
We plan to bring a unique product and brand to market that services the most valuable customer segment. The MaximBet experience is going to be unlike anything else out there. Additionally, as we launch MaximBet this summer, our marketing budgets are going to be significant and we are confident we will obtain meaningful market share of this profitable segment.