A young online bookmaker that had music star Nicki Minaj as an investor and brand ambassador is closing its doors.
MaximBet announced on Wednesday that it would cease operations.
“With regret, we inform customers that MaximBet is ceasing operations,” the bookmaker said in a statement. “Our priority now, in consultation with state regulators, is to terminate transactions and assist customers with withdrawing their funds and closing their accounts.”
“On Wednesday November 16, 2022, MaximBet closed its sports betting operations and is no longer accepting deposits or bets,” reads a notice on the bookmaker’s website. “Customers may withdraw any deposited balance until Thursday, December 15, 2022. Any remaining player balance after this date will be refunded by check sent to the address listed on the account.”
The bookmaker was online in just two states. Colorado players can log in to co.maximbet.com to make a withdrawal. Indiana players can log in to maximbet.com/bet to make a withdrawal.
“Open bets will be settled in accordance with MaximBet house rules until Thursday, December 15, 2022, when they will be ‘settled’ at the current market price at fair value and player balances will be returned by cheque,” a also stated the announcement. .
Customers can contact customer service at [email protected] to void bets and request player withdrawals.
Minaj was bullish on sports betting as recently as June.
“Merging business-savvy power moves with my natural, creative, sexy, fun and fashion-forward expression is so right about this partnership,” Minaj said in a statement. “I’m ready to tap into my full potential as a young queen and influential owner and open doors for others to dream big. Get ready for sexy parties and remember: scared money doesn’t pay off.” NOPE SILVER!!!! HA!!! Place your bets!!!! Let’s go!!!”
ZK International Group Co. (ZKIN) announced that Minaj would “bring her artistry and influence to the world of sports betting” through a multi-year global partnership with MaximBet, a ZKIN holding company.
ZKIN has invested $25 million in sports betting and owns 16% of the business, according to a press release. Minaj has been called a “significant shareholder” of MaximBet.