Start-up online sportsbook closes Music superstar Nicki Minaj was an investor and brand ambassador.
MaximBet announced on Wednesday that it is winding down operations.
“With regret, we inform customers that MaximBet has ceased operations,” the sportsbook said in a statement. “Our priority now, in consultation with government regulators, is to wind down operations and help customers withdraw their funds and close their accounts.”
“On Wednesday, November 16, 2022, MaximBet has closed down its sports betting operations and is no longer accepting deposits or bets,” said a notice on the sports betting site. “Customers may withdraw any balances deposited through Thursday, December 15, 2022. Any remaining player balances after this date will be refunded by check sent to the address on the account.”
The online sportsbook was only in two states. Colorado players can log on to co.maximbet.com to opt out. Indiana players can log in to maximbet.com/bet to opt out.
The announcement also stated: “Open bets will be settled according to MaximBet House rules until Thursday 15th December 2022, at which point they will be ‘cashed out’ at the current market rate of fair value and player balances will be returned by check”.
Customers can contact customer support at [email protected] to cancel bets and request players’ withdrawal.
Minaj was optimistic in the sportsbook as recently as June.
“Incorporating the power of smart business moves my natural, creative, exciting, playful, and evolving expression forward as it relates to this partnership,” Minaj said in a statement. “I am willing to step into my full potential as a young influencer and owner and open doors for others to dream big. Get ready for the hot parties and remember: Fearless Money Makes Nothing money!!!! HA!!! Place your bet!!!! Let’s go!!!”
Zak International Group Company (ZKIN) announced that Minaj will “bring her artistry and influence to the world of sports betting” through a multi-year global partnership with MaximBet, ZKIN portfolio company.
ZKIN He invested $25 million in the sportsbook and owns 16% of the business, according to a press release. Minaj has been called a “significant shareholder” in MaximBet.