Maxim enters the game industry through a partnership with iGaming and Carousel Group, the mobile sports betting company.
Carousel announced this week that the sports and gambling group will use Maxim’s most famous brand as a men’s magazine. MaximBet.com will be a mobile platform for sports betting and online casinos, tailored to Android and iOS.
The announcement also marks the conclusion of xSigma Entertainment Limited’s $50 million funding round. XSigma is a wholly owned subsidiary of NASDAQ AG ZKIN International Group.
iGaming, Sports Betting Expansion
Caracel was founded in 2017 as an eye-gaming and sports betting company. The main brand is SportsBetting.Com, launched live in Colorado last September.
In February, Carousel signed a contract with Caesar’s Entertainment to allow sports betting to gain market access for three other states. In anticipation of approval from regulators, the Caesar Convention will allow online casino sportsbooks to be published in Indiana, Iowa and New Jersey.
Carousel now intends to expand the footprint for mobile games to further operational brands. Carousel says the $50 million fundraising round will be used to place Maxim Bet in states with legal online gambling and sports betting.
Maxim was called into life in 1995 and adapts to male demographic statistics by covering “the most beautiful women in the world” with exotic travel, high-quality cars, sports and the latest technology. Maxim’s annual Hot 100 list has traditionally put together many headlines and discussions among readers.
Sports Betting Appeal
As the number of sports betting continues to grow across the country, sports book companies are struggling to win as many market shares as possible. And marketing is the name of the game.
BetMgm announced last fall that actor Jamie Fox is the star of the national marketing campaign. He received the Academy Award for Best Actor for “Ray” and has since appeared in numerous TV and print campaigns for online sports books.
Direct Action Media, a marketing agency that deals with Maxim’s promotional contracts, says it’s the third-largest lifestyle magazine for men in the United States. It only tracks male health and GQ.
Maxim’s seven editions a year are read by more than 1.4 million readers and currently have 250,000 subscribers. Reading distorts 80% of men, middle-income is 90.Thousands of dollars.
According to the online statistics, over 90% of sports betting on legitimate U.S. platforms comes from men.