Maxim owns an already popular print magazine and it also produces digital content through a variety of channels which when compiled, runs into millions of subscribers.
What To Expect From The Partnership
The partnership between Maxim Magazine and the Carousel Group is unarguable one of the best deals in the industry. Maxim brings its marketing channels while Carousel brings its gambling products to the table.
Carousel had previously sealed a deal with Caesars which gave it access into the NJ market to launch its online sportsbook. This new partnership also applies to its online casino.
Before the news release, it was expected that its SportsBetting.com brand would launch in New Jersey, however, with the new partnership in place, MaximBet would replace the SportsBetting.com brand. Plans are already in place to set up a website along with an Android and iOS mobile app. However, it remains unknown whether the new properties will be given their own forums on Maxim magazine releases.
Just like the previous SportsBetting.com brand, there isn’t any specific timeline for the launch of MaximBet in any market. Carousel is already pushing towards approval in several US states. It is already live in Colorado, however, it is yet to gain regulatory clearance in Iowa and Indiana.
Carousel might be taking a step in the right direction by partnering with a brand that already has an audience. Its SportsBettting.com brand gives it a nice advantage in the industry.
The name of the brand is already a high-ranking keyword that would draw in organic and paid search when people within its targeted market search for an online sportsbook.
Scrapping this brand for MaximBet might seem like a miss as few people would actually search for the MaximBet brand. However, Maxim content consumers in their millions is the biggest catch as it would draw in many prospective gamblers to its platform.
Still, there is some doubt as to whether Maxim consumers will convert into regular gamblers and give Carousel a foothold over the NJ market. NJ is one of the leading online gaming markets in the US filled with options and tons of successful operators. It is possible that taking on Maxim’s ready-made marketing arm would give Carousel an edge in the market.
Info Regarding Carousel’s Funding
Carousel seems to have gained access to funds to take MaximBet live. The release mentions a Series A investment round of $50 million from xSigma Entertainment Limited. According to the statement,
“xSigma is a wholly-owned subsidiary of Nasdaq listed ZKIN International Group, a diversified and innovative, tech-forward company that is pleased to act as a capital partner to MaximBet.”
With Carousel already being late to the market, partnering with Maxim might be the only option it has to gain a significant share of the market within the first few months of its launch. With the deal already in place and set for a market launch, everyone will have to wait and see if Maxim’s media channels can deliver regular gamblers to Carousel as both brands had hoped.