MaximBet Launches Indiana Sports Betting, Further Expansion Planned – Covers

MaximBet officially launched in Indiana last week, becoming the 14th different operator in the Hoosier State with more expansion coming.

Last Updated: Oct 3, 2022 9:02 AM ET Read Time: 4 min

MaximBet is now offering legal sports betting in two U.S. markets, following an announcement last week that it has gone live in the Indiana sports betting market.

The Hoosier State launch comes around a year after MaximBet first went live in Colorado. The sportsbook and casino, which partnered with Maxim magazine, made a splash in April when they announced a sponsorship deal with Colorado Rockies Outfielder Charlie Blackmon to serve as a brand ambassador the first active baseball player to do so. Also, earlier this summer, rapper Nicki Minaj came on as an investor and joined Blackmon as an ambassador.

The MaximBet expansion isnt stopping in Indiana, either.

The announcement also indicated plans to launch in Iowa, New Jersey, Pennsylvania, Ohio, and Ontario. The timing is not surprising, as October features the NFL, college football, MLB postseason, plus the start of the NBA and NHL seasons after operators already saw a jump in monthly handle in September due to the return of football.

"To begin now just as the NFL season is revving up and with NHL, NBA, and college basketball action right around the corner, we couldn't be more excited about our future," said Daniel Graetzer, Founder and CEO of MaximBet.

The Hoosier State now has 14 sportsbooks in operation, which is a challenge for smaller brands like MaximBet to make an impact.

In the month of August, the Top 4 online sportsbooks owned 80% of the market share leaving the other nine operators fighting for the rest.

Even if they crack into the top tier of sportsbooks in the state, there may not be a lot of money to go around: Indianas monthly handle was just $238 million that month.

In comparison, New York hit $194 million in the last full week of August alone.

However, MaximBet seems to be aware of the uphill climb and will be offering deposit matches up to $250 to attract customers, a rare sight as the industry seems to be pivoting towards new customer promotions in the form of "risk-free" or "no sweat" bets.

Kristian Nyln, Kambi CEO and Co-Founder (which is the odds provider for MaximBet), added that MaximBet's "customer-first mentality makes their debut launch in Indiana an exciting opportunity for both parties as well as bettors in the midwestern state."

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MaximBet Launches Indiana Sports Betting, Further Expansion Planned - Covers