Best Startup
MaximBet is a new betting site to enter what is already a competitive and overcrowded market.
But what has caused people to turn their heads is the manner and speed with which they have risen to the top.
In this guide, we’ll examine just how MaximBet has achieved its marked growth. We’ll also look at what other companies can learn from their approach, and what the future may hold for the gambling industry.
But first, let’s take a look at what MaximBet is.
What Is MaximBet?
MaximBet is a new and innovative brand of betting that has emerged in recent years and taken the US by storm. This, in part, is due to its clever marketing, using popular stars such as Nicki Minaj to help promote it. Minaj is also a brand ambassador and investor.
MaximBet is the result of a joint venture between the Carousel Group and Maxim, the lifestyle brand made famous by its popular magazines.
The Carousel Group is a name you probably haven’t heard, however. They’re a sports betting software company and have supposedly created a means to avoid paying a third-party betting provider. This means they have better profit margins, which may result in greater investment in the platform.
MaximBet offers bettors a comprehensive sportsbook covering all types of sports, from American football and basketball to the English Premier League.
Although it doesn’t have an online casino feature yet, it’s said to be launching in 2022.
If you’re someone who likes to check reviews of betting bonuses, you’ll be pleased to hear that MaximBet offers an impressive deposit match bonus for new customers of up to $1,000.
In other words, if you deposit $1,000 when you first sign up, MaximBet will credit your account by $1,000.
It has also developed a reputation for offering ongoing promotions and regular bonuses to loyal customers.
What sets MaximBet apart from the rest
Whenever a new product enters the market, people are always looking for them to offer something new or different, something better.
MaximBet’s specialty seems to lie in its bonuses and promotions. Most betting sites only offer to match first bets rather than first deposits. As a user, a first deposit bonus gives you more freedom and control over how you spend your money. It also allows you to pocket more than you bargained for.
With a matched first bet bonus, to actually see the benefit of that offer you have to win your bet.
Users of MaximBet have also complimented the regular promotions they receive. This could be due to the Carousel Group’s impact and how they’ve utilized technology to improve profit margins. These extra funds can then be passed onto players or used to improve the user experience.
What can start-ups learn from established sites?
For start-ups trying to move into a busy and competitive market, looking at companies like MaximBet can help shape their strategy.
MaximBet’s approach is clear simply by looking at the two companies involved. The provider wants to create a cutting-edge product that rewards people in the form of bonuses and promotions, and it wants to sell the experience as a lifestyle choice and a cool one at that.
Maxim, as a brand, sells a way of life, one that people look up to or aspire to have. It’s historically been targeted at men and features imagery of actors, singers and female models who are seen to be at the very peak of their careers — hence the aspirational theme.
At the moment, Maxim has an average monthly readership of nine million people, which is a huge audience and means they carry a lot of influence.
The Carousel Group doesn’t possess such cultural clout, but if they have a quality product, from a marketing perspective partnering up with an established brand is a sensible move. They have a captive audience already on hand, one which is influenced by what it promotes in its magazines.
Branding alone has the power to sell, but the success of MaximBet or any product that follows a similar path comes down to the quality. If people don’t come back and bet again, profits will dwindle until the company goes under.
This novel approach to forming a betting company could lead other start-ups to follow suit. More lifestyle brands may engage in joint ventures that could result in new technologies being combined with their marketing power and cultural influence. Whether this is good for consumers remains to be seen.
