Carousel Group still plans to launch a sportsbook in Iowa this summer, but it won’t be SportsBetting.com as initially planned.
The casino-sports betting operator wants to move ahead with a sportsbook app called MaximBet, centered around the Maxim men’s lifestyle brand instead.
Plans remain unofficial, but Carousel Group CEO Daniel Graetzer passed along the following through a spokesperson:
“At this time, SportsBetting.com is unlikely to be launched in Iowa. The plan is to have MaximBet.com up and running in the Hawkeye State by July.”
“After our first conversation, it was clear that Maxim was the perfect partner. We couldn’t be more excited to be on this journey with them.”
MaximBet will be Carousel’s US-facing brand
The MaximBet pivot comes less than two months after Carousel announced a 10-year, multi-state partnership with the casino giant Caesars Entertainment.
These Iowa casinos currently host William Hill Sportsbook. Any of these locations would be candidates to offer the MaximBet Sportsbook skin, too.
Iowa a welcoming environment for sportsbooks
Thanks to recent changes in the gaming code, Iowa casinos can partner with up to three individually-branded online sportsbooks.
Iowa code calls for an initial $45,000 licensing fee each time a sportsbook wants to operate in the state.
In the regulated sports betting market, every operator must keep players’ accounts safe and secure. Furthermore, app and geolocation functions also must be certified by an independent lab. Sportsbook operators must meet standards to address problem gambling, as well, including self-exclusion.
Carousel Group to continue US expansion
Carousel has market access agreements in New Jersey and Indiana, in addition to Iowa and Colorado.
Graetzer praised Maxim as a “preeminent lifestyle brand over the last 25 years.” He thinks Carousel’s online betting profile makes MaximBet a prominent gambling brand.
In a joint April 5 announcement, the Carousel CEO went on to say:
“Our mutual objective to provide premier entertainment and VIP experiences to the same customer demographic makes Maxim the perfect partner for Carousel. We can’t wait to launch MaximBet later this year for fans.”
Also, Carousel Group announced the end of a $50 million funding round with the tech company xSigma. The MaximBet partners will use the capital for continued US expansion and marketing.