MaximBet has a familiar ring to it. It blends a popular men’s magazine brand with sports betting and online casinos. And it could be coming soon to New Jersey.
The partnership between Maxim, the magazine, and the Carousel Group, the sportsbook, is betting on the combination to propel it forward in an increasingly crowded marketplace.
According to PlayNJ.com, the Carousel Group and Maxim plan to promote its betting foray through the millions of subscribers to the magazine and other channels. Maxim has the marketing knowhow; Carousel, the gambling element.
Carousel partnered with Caesars in February for an online sportsbook in New Jersey, which would also go for an online casino product. The selected name of SportsBetting.com made a lot of marketing sense. But MaximBet will be the new name. There does not seem to be a specific date for the launch in New Jersey or elsewhere under that name.
Carousel has a live operation in Colorado, and awaits regulatory approval in Indiana, and Iowa for a sportsbook.
The question is whether the name change is a good move from a marketing standpoint. SportsBetting.com is certainly easy to remember.
To succeed MaximBet will require a high number of Maxim readers to convert to Maxim bettors. Maxim’s audience fits the perfect demographic for sports and online betting. Still, will Carousel grab enough of a share of the New Jersey market?
The press release mentioned an investment from xSigma, a subsidiary of ZKIN International Group. Funding could be used to take MaximBet live. Indeed, partnering with Maxim and its marketing affinity may have been a move needed to secure a financing commitment.
Employing Maxim’s advertising strength may have been what Carousel used to seal the financing deal. Now everyone involved waits to see if Maxim can deliver regular gamblers to Carousel, or if sticking with SportsBetting.com would have been the better play.
