US online sportsbook MaximBet has announced that it has ceased operations with immediate effect.
The online sports betting company which was licensed to operate in both Colorado and Indiana has cited “macroeconomic conditions and an increasingly cost prohibitive marketplace” as the main reasons for its decision to with draw from the market.
US Sportsbook MaximBet Shuts Down with Immediate EffectOn Wednesday, November 16, 2022, MaximBet closed its sports betting operations and is no longer accepting deposits or wagers. Customers can withdraw any deposited balances until Thursday, December 15, 2022. Any remaining player balances after this date will be refunded via check sent to the address on the account.
US Sportsbook MaximBet Shuts Down with Immediate EffectOpen wagers will settle as per the MaximBet House Rules until Thursday, December 15, 2022, at which point they will be “cashed-out” at current fair value market pricing and player balances will be returned via check.
Users have also been informed that they can void any outstanding wagers and seek a refund of their stake.
MaximBet is the latest in a string of sports betting companies to exit the US market. Earlier this year, theScore announced that it would shutter its US sports betting business while just last month FuboTV closed its sports betting operations.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.