MaxBet

History & Founding

MaxBet was established in 1997 in Novi Sad, Serbia, by Saša Marčeta. It began as a retail‑focused betting operator and expanded rapidly throughout the Balkans, becoming a dominant regional brand. By the time of Flutter’s acquisition, it had over 400 retail outlets across four countries.

Acquisition by Flutter Entertainment

In December 2023, Flutter Entertainment announced the acquisition of an initial 51% stake in MaxBet for €141 million cash, with the deal closing in Q1 2024. Flutter holds an option to acquire the remaining 49% in 2029. The acquisition aligns with Flutter’s strategy of buying and building podium positions in regulated markets. MaxBet contributed pro forma revenue of €145 million (LTM June 2023) with 44% online, and Adjusted EBITDA of €32 million.

Products & Platforms

- Sports Betting – Pre‑match and live betting on thousands of events, with a focus on football and basketball. - Online Casino – Slots, table games, and live dealer content aggregated via EveryMatrix’s platform. - Virtual Betting – Simulated sports and games, including the Fans World Cup virtual football game powered by Kiron Interactive. - Lucky 6 – A proprietary daily lottery‑style draw game. - MaxBet TV – A linear television channel delivering original programming and gambling‑related content, delivered via Setplex’s OTT/IP‑TV platform. - Retail Network – More than 350 to 400 physical betting shops across the region. - MaxBet Mobile App – iOS and Android applications for betting and casino play.

Technology & Data

MaxBet modernised its data infrastructure with AWS and Cloudwalker, consolidating nine disparate data sources into a unified cloud‑based analytics architecture. This moved the company from manual Excel reporting to near‑real‑time insights. It now processes 320 million betting odds daily and has over 30 employees AWS‑certified.

Market Position

MaxBet is the #2 omni‑channel sports betting and gaming operator in Serbia, with approximately 20% online share. The Serbian regulated market was valued at €700 million in 2022, with online penetration of ~35% growing at a CAGR of ~15%. MaxBet has 95,000 average monthly online active players and a strong retail footprint that creates a competitive moat in a cash‑led economy.

Partnerships & Sponsorships

- Euroleague Basketball – Premium Betting Partner in Serbia and Montenegro through 2026. - Partizan Belgrade – Three‑year sponsorship deal worth €5.5 million, the club’s biggest sponsorship agreement. - Kiron Interactive – Launched the Fans World Cup virtual game with MaxBet Serbia. - Meridian/Expanse Studios – Live casino content deal for the Serbian market.

Regulatory & Licensing

MaxBet operates under regulated licences in Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia, fully compliant with local gambling laws.

Headcount

MaxBet employs 2,400 people, as confirmed in the Flutter acquisition press release.