Into a Crowded Field Maxim Magazine & Carousel Group Form New Sports Betting Brand
- Maxim & Carousel Group partner to create new sportsbook outside the traditional realm
- Carousel has a current agreement with Caesars to launch into four potential US states
- Maxim Magazine carries a strong identity among affluent, 18-49 males into a new category
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It was a significant announcement this week that noted men’s magazine Maxim has joined forces with Carousel Group to form MaximBet.com.
Noteworthy because the partnership will delve outside the traditional casino industry realm in creating a new iGaming site to include online casinos and sports betting joined with Maxim’s lifestyle content. A tool that will link the magazine community to sports bettors.
Perhaps more intriguing in testing the field for sportsbook operators is not potentially saturated. It could invite several new types of creative concepts as sports wagering continues to grow with additional US states considering legislation this year.
Background on Carousel
The company was established in 2017 as both an iGaming and sports wagering company. Their main brand is Sportsbetting.com with their first US state entry last year in Colorado.
In a partnering agreement with Caesars Entertainment, Carousel was allowed market access to three additional states. Upon approval, the company will gain online casino access to launch in Iowa, Indiana, and New Jersey.
Daniel Graetzer, CEO of Carousel Group is quite excited about the new project with Maxim and expressed his thoughts:
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. 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 in the next 90 days.
Beginning in 2019 Carousel Group launched two new brands called Racebook.com and SportsBetting.com. The two websites divided focus on horse racing and sports with licensing provided by the Malta Gaming Authority.
Having the Malta Gaming Authority authorize these two brands enabled Carousel to launch operations in Latin America and Europe. The company was able to attend SiGMA, the World’s Gaming Festival in Malta to help them begin marketing the two brands and expand their operation.
In a similar fashion, the new partnership with Maxim helps Carousel Group enter a new demographic with their sports wagering and online casino brand.
Maxim a Well-known Men’s Symbol and Identity Force
Like Playboy established decades before, Maxim Magazine has created its own symbolic identity with men around the world. 90% of their demographic readers range between 18-49 years old.
The publication launched in 1995, “celebrating the most beautiful women in the world”, catering to men who are interested in exotic travel, luxury, automobiles, sports, and the latest technology. They gain great media attention and start a great deal of debate from their well-known Maxim’s annual “Hot 100 List”.
Direct Action Media, a marketing agency handling advertising contracts for Maxim, reports the magazine is the third-most circulated men’s lifestyle publication within the category trailing only Men’s Health and GQ. including 250,000 current subscribers. True to the image they appeal to, they have a basic reach toward younger men, which should be an excellent target for sports wagering and to cultivate new sign-ups for MaximBet.com.
The magazine publishes seven issues per year and is read by more than 1.4 million people, an affluent readership with an annual median household income of $90,000 per year.
Maxim executives were equally enthusiastic about welcoming Carousel Group to expand their brand. Senior VP Susan Kilkenny said:
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. Together, we feel that MaximBet has the power to innovate and elevate the online sports betting and iGaming market.
No firm start-up or launch date has been announced yet for the new project.
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Larry Gibbs is both a seasoned journalist and a respected online gaming industry consultant. His wry commentary & sharp analysis have appeared in numerous top gaming and sports wagering publications. He has also served as Vice President of US Gaming Services, a marketing research organization with 15 years of experience in US online wagering. He has spoken at noted gaming industry conferences including G2E, GiGSE, and NCLGS.
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