MaximBet is latest US sportsbook to cease operations

[The Buzz]

MaximBet, the gaming operator owned by Carousel Group in partnership with Maxim magazine, has ceased operations, effective 16 November, due to "operating costs far exceed(ing) revenue," it said in a statement on Wednesday.

The statement read:

IMPORTANT MAXIMBET NEWS FOR CUSTOMERS

With regret, we’re informing our amazing and loyal customers that MaximBet is unfortunately ceasing operations. MaximBet launched in 2021 to bring sports, entertainment, and betting all together for a one-of-a-kind, lifestyle brand. We made great strides in offering customers a completely unique player experience. However, our ability as an early-stage company to compete in a market where operating costs far exceed revenue, even among the top operators, was simply not sustainable. Our priority now, in consultation with state regulators, is to wind down operations and help active customers withdraw their funds and close their accounts.

MaximBet was operating in Colorado and Indiana and had plans to expand to more states. If bettors have open bets, they will be graded by 15 December and bettors will receive fair market value for their open futures.

[Pokerface]

Thanks for the information, was not aware. Now I don't need to follow-up on invalid username/password. LOL