MaximBet Shuts Down Amidst Economic Challenges
MaximBet is closing its doors, effective immediately. They attribute the closure to the challenging economic climate and the high expenses associated with running the business.
Customers have until December 15th to reclaim their funds. After that date, any remaining balances will be mailed to their addresses via check.
New wagers are no longer permitted, but MaximBet assures customers that all existing bets will be settled before the 15th. They will honor bets at the current market rates and send the winnings back by check.
MaximBet was launched in April 2021 by Carousel Group and Maxim. They secured a $50 million investment from xSigma, a firm owned by ZK International.
MaximBet aimed to provide online sports betting and casino gaming services to individuals in the US and other nations. They intended to utilize their website and a mobile application to deliver these services.
MaximBet, which debuted in Colorado last fall, formally entered the American market and spread to Indiana recently. They utilized technology from Kambi Group and White Hat Gaming.
To aid in their growth, MaximBet enlisted Major League Baseball player Charlie Blackmon of the Colorado Rockies as a brand representative and forged a worldwide partnership with singer Nicki Minaj. Minaj also invested in the company.
“We regret to inform you that MaximBet will be ceasing operations immediately,” MaximBet stated in a message to patrons. “The challenging economic climate and intense competition have compelled us to make this difficult decision.
“Thank you for your patronage.”
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