Carousel Group to Team Up with Maxim in Sports Betting Deal

A modern men’s magazine and media company has entered the sports betting world.

Carousel Group, a private sports betting and casino operator, announced Monday a partnership with Maxim.

The partnership gives birth to MaximBet.com, a platform where users can indulge in sports betting, as well as delve into the exciting world of online casinos. Available both in the U.S. and globally, the platform leverages Maxim's robust print, digital, and social platforms, according to a news release.

It’s another example of non-traditional sports betting companies partnering for access into the growing U.S. market. Last week, Bowlero bowling centers announced a collaboration with BettorView, an in-venue sports betting marketing and technology platform.

“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,” Daniel Graetzer, CEO of Carousel Group, said in the release. “Our mutual objective to provide premier entertainment and VIP experiences to the same customer demographic makes Maxim the perfect partner for Carousel and we can't wait to launch MaximBet later this year for fans.”

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In addition, Carousel announced the closing of its Series A investment round with $50 million in funding from xSigma Entertainment Limited. xSigma is a wholly- owned subsidiary of ZKIN International Group, a diversified and innovative, tech-forward company that would act as a capital partner to MaximBet, the release said. Funds will be used to drive growth into additional U.S. states.

Carousel, owner and operator of SportsBetting.com, entered the U.S. gaming market as a sports betting operator in late 2020 in Colorado. It secured market access deals in February in New Jersey, Iowa and Indiana through a multistate agreement with Caesars.

“We are always looking to provide the Maxim audience with new, rich and engaging experiences, and are incredibly excited to be entering the sports betting and iGaming space with our partners, Carousel Group,” Susan Kilkenny, Maxim senior vice president, said in the release. “Together, we feel that MaximBet has the power to innovate and elevate the online sports betting and iGaming market.”