The other one US The sports betting regulator is calling it quits.
MaximBet an email was sent to customers Wednesday notice that operations are being discontinued. The decision comes as several regulators have shut down online sports betting this year. The sportsbook is no longer taking bets, with withdrawals available up to December 15and then the balance will be sent by check.
“It is with great regret that we inform our loyal customers that the current macroeconomic conditions have forced MaximBet to cease operations,” MaximBet said. “MaximBet was launched in 2021 with the desire to bring sports, entertainment and gaming together, all in a residential brand and very focused on the end user. Although the ability to deliver unique player experience to customers, our ability as an early stage company to compete in a market where operating costs exceed revenue, even among top executives, is not sustainable.
“Our priority right now, in consultation with state regulators, is to cancel operations and help potential customers in Colorado and Indiana withdraw their accounts and close their accounts.”
MaximBet closes US sports betting
Despite the power of the SportsBetting.com brand, Carousel group named MaximBet in 2021 as a way to connect with the young male population by working with Maxim magazine.
Less than two years ago, Carousel Group was founded $50 million to help grow the MaximBet business. Brought by the company Nicki Minaj a MLB players Charlie Blackmon as a sports book ambassador.
Inside SeptemberMaximBet was launched Indiana as his second life form, connected Colorado. Through him 10-country cooperate with CaesarMaximBet plans to launch several markets in the coming months, including:
Others US sports books are pulling
Earlier this year, Churchill Downs Inc. it was announced that it was being towed TwinSpires from online sports betting, instead focusing on his horse racing business.
Last month, FuboTV announced it was closing its sportsbook and leaving Arizona, Iowa a New Jersey. Earlier this summer, Fubo was hoping to find a partner to help test the sports book.
With the macroeconomic environment unfavorable for raising capital and spending on consumer acquisitions, and a competitive sports betting market that has seen clearer leadership, it is likely that more operators will leave sports betting. America in the coming months.