MaxBet
MaxBet is a Serbian gaming operator and Flutter International subsidiary offering sports betting, online casino, virtual games, and e-sports across Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia via 500+ retail locations and digital platforms serving recreational and VIP players.
- Company typePrivate
- Founded1993
- HeadquartersBelgrade
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What MaxBet does
MaxBet is a Serbian-headquartered omni-channel gaming operator founded in 1993 in Zrenjanin and now operating as a wholly-owned subsidiary of Flutter Entertainment plc (Flutter International), following a €141 million investment completed in January 2024. The company runs sports betting, online casino (slots, live dealer, instant games), virtual sports, and e-sports products through 500+ retail locations, an online platform accessible via web and mobile, and 220 self-service kladomati terminals across Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia. Its technology stack centers on proprietary in-house software solutions, including a five-level Multilevel Jackpot System deployed across both online slots and 4,290 retail gaming positions, plus content integrations with 40+ slot providers (PragmaticPlay, NetEnt, Evolution) and equipment from Novomatic, Synot, IGT, and EGT.
The business model is transaction-based: MaxBet earns revenue through betting margins on sports wagering (pre-match and live), house edge on casino games (slots, roulette, live dealer), and turnover on virtual and e-sports products, with ancillary income from food and beverage hospitality services offered across more than 400 cafe locations. The customer base is purely B2C, segmented into Recreational Gaming Enthusiasts and VIP/High-Value Players, with stated 24/7 customer support and a proprietary responsible gaming framework required under Serbian gaming regulations. Go-to-market combines a deep retail distribution moat (premium lokali over 1,000 m², standard betting shops, gaming venues in 200+ cities) with digital channels and a sponsorship-led brand strategy anchored by flagship partnerships with Euroleague basketball, FK Partizan (€5.5M general sponsorship), and FK Crvena Zvezda.
Operationally, MaxBet employs 3,000+ professionals across its four markets under a recently professionalized C-suite (CEO Savo Bakmaz since September 2023; CPO, CAO, CLRO, CFO, CPO-People appointed 2024–2026). The company co-founded the SPIS industry association with Mozzart in October 2025 to shape regulatory standards in Serbia, signaling a shift from regional independent operator to institutionally governed Balkan gaming platform under Flutter International's stewardship. No standalone revenue figures are disclosed, and the Meridian Holdings / Expanse Studios content partnership plus Kero Gaming micro-betting partnership indicate ongoing product surface expansion.
MaxBet firmographics
Firmographics- Name
- MaxBet
- Legal name
- MaxBet
- Website
- https://maxbet-group.rs
- Company type
- Private
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- MaxBet is a Serbian gaming operator and Flutter International subsidiary offering sports betting, online casino, virtual games, and e-sports across Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia via 500+ retail locations and digital platforms serving recreational and VIP players.
- Ownership category
- akta.pro rank
MaxBet industry classification
Industry- Product category
- Sports Betting & Casino Gaming
- NAICS
- Gambling Industries (7132), Casinos (except Casino Hotels) (713210)
- SIC
- Services-Membership Sports & Recreation Clubs (7997)
- akta.pro primary industry
- iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms) (MPAEAKAA)
- akta.pro secondary industry
- Gaming Machine Systems & Management (CMS, TITO, Player Tracking, Bonusing) (MPAEAJAH)
Keywords
Where MaxBet is headquartered
LocationHeadquarters
- HQ city
- Belgrade
Offices4 records
Markets served
MaxBet business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Sports Betting: Pre-match and live sports betting on domestic and international sporting events including football, basketball, tennis, and more. Revenue generated through betting margins on sporting outcomes.
- Online Gaming: Online casino operations including slot games, live dealer games, and instant games. Revenue generated from player wagers and house edge on casino games.
- Retail Gaming Machines: Slot machines and gaming positions across 354 retail locations with 4,290 gaming positions. Revenue from gaming machine operations in licensed venues.
- Hospitality Services: Food and beverage services offered in over 400 MaxBet cafe locations, enhancing the gaming experience for customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Sports Betting |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
MaxBet product offering
Product offeringCore offering
MaxBet operates an omni-channel gaming platform providing sports betting, online casino games (slots, live dealer, instant games), virtual sports, e-sports betting, and land-based retail gaming across Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia. The company runs 500+ retail locations with 4,290 gaming positions, 44 roulette tables, and 220 self-service terminals, alongside digital platforms available 24/7. MaxBet is a subsidiary of Flutter International and offers the most comprehensive gaming portfolio in the Western Balkans region with over 3,000 slot titles from 40+ providers.
Product overview
MaxBet is an omni-channel gaming company operating as part of Flutter International, offering an integrated platform of sports betting, online gaming (slots, live casino, instant games), virtual games, and e-sports betting alongside land-based retail operations. The product portfolio centers on the MaxBet Sports Betting platform and MaxBet Online Gaming platform (covering slot games, live casino, and instant games), supported by MaxBet Virtual Games and MaxBet E-Sports for alternative betting formats. Retail operations include gaming machines (4,290 positions), roulette tables, self-service terminals, and premium venue locations. Additional brand extensions include the MaxBet Sport Portal for sports journalism and MaxConnect for podcast content. The company operates across Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia with over 500 locations and a digital platform serving regional customers.
Differentiator
Problem solved
Functional benefit
Brands
- MaxBet Sport: Sports news portal covering sports events and news from the world of sport.
- MaxConnect
Products and services
- MaxBet Sports Betting
Quantifiable outcome
- 500+ retail locations across Serbia and region
- +2 more outcomes
Companies that use MaxBet
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles3 records
MaxBet technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
MaxBet partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, flagship and minor.
- Expanse StudioscoreStrategic distribution agreement where Expanse Studios, Meridian Holdings' proprietary game studio, distributes its gaming content through MaxBet's platform. This partnership enables access to Expanse Studios' game portfolio through MaxBet's extensive retail and online distribution network in Serbia and the region.
- SPIS (Udruzenje priredivaca igara na srecu)coreAssociation of gaming operators founded by MaxBet and Mozzart to promote lawful, transparent, and responsible business; represent members in regulatory improvements; and foster cooperation between operators and authorities.
- FK Crvena ZvezdaflagshipMaxBet Sport portal became exclusive partner of FK Crvena Zvezda. Strategic partnership based on shared commitment to continuous growth, greater visibility, and content exchange for the sports audience.
- Rukometni Klub BoraccoreOfficial betting partner of RK Borac until end of season 2025/26. Continuation of partnership providing support during challenging times for the club.
- Kero Gaming Inc.corePartnership to enhance customer experience with innovative micro-betting technology. Micro-betting enables real-time, in-game betting on specific events within matches, enhancing player engagement.
- FK Crvena Zvezda (Health Initiative)minorJoint initiative with MaxBet Sport and FK Crvena Zvezda for women's health through free mammographic examinations at Rajko Mitic stadium in cooperation with Institute of Public Health of Serbia Batut.
- Basketball Federation of Bosnia and HerzegovinacorePremium partner of the Basketball Federation of Bosnia and Herzegovina. Partnership for development and advancement of basketball in the country through marketing and brand activations.
- EuroleagueflagshipPremium betting partner for Euroleague in Serbia and Montenegro until 2026. MaxBet has prominent presence at Euroleague games in Serbia and Montenegro, with exclusive marketing activations including Fantasy League and exclusive experiences for MaxBet players.
- Men's Handball Club Crvena ZvezdacoreTitle sponsorship of MRK Crvena Zvezda which will now be known as MRK Crvena Zvezda MaxBet. Important step in supporting development of handball in Serbia.
- FK Radnicki NiscoreGold sponsor of FK Radnicki from Nis. Partnership enables Radnicki to strengthen its team and provide unforgettable sports experiences to fans.
- FK PartizanflagshipGeneral sponsorship valued at 5.5 million EUR. MaxBet provides financial support while gaining exclusive marketing rights and brand visibility through the club's teams from first team to youth categories. Partnership includes exclusive rewards for MaxBet players.
- FK VojvodinacoreGold sponsor of FK Vojvodina, the oldest football club in Vojvodina with a rich tradition. Partnership aimed at achieving common goals and advancing football in the region.
Scale indicators9 records
Recent moves9 records
Expansion highlights7 records
MaxBet competitors and assessment
Company assessmentBroad incumbents
- Flutter Entertainment: Flutter Entertainment is MaxBet's parent company and the world's largest online betting and gaming group (Betfair, Paddy Power, Sisal, FanDuel, etc.). It is the broad incumbent that owns MaxBet and provides platform, product, and capital support.
- Entain plc: Entain is a global digital gaming and sports betting operator (bwin, Ladbrokes, Coral, PartyPoker) with significant European retail and online footprint. Comparable in product breadth, omni-channel model, and regulated-market focus.
- Betsson AB: Betsson is a Swedish-listed omni-channel gaming operator with strong presence in Nordics, CEE, and select emerging markets. Comparable in business model and product mix as a European incumbent with regional brand portfolio strategy.
- Kindred Group: Kindred (owner of Unibet, 32Red, Maria) is a European-listed multi-brand online gaming operator. Comparable as a broad European omni-channel incumbent with regulated-market expertise similar to where MaxBet operates.
Regional players
- Superbet: Superbet is a large Central and Eastern European (CEE) omni-channel sports betting and gaming operator headquartered in Romania with expanding Balkan presence. Comparable in business model and product mix; serves as a regional incumbent that may expand into MaxBet's markets.
Direct peers
- MeridianBet: MeridianBet operates retail and online sports betting and casino across Serbia and the Balkans and is the parent of Expanse Studios (a MaxBet game content partner). Closely comparable in product mix, geographic focus, and omni-channel model.
- Mozzart: Mozzart is the leading Serbian and Balkan sports betting and casino operator with omni-channel retail and online presence. It is MaxBet's primary domestic competitor and co-founded the SPIS industry association with MaxBet.
- AdmiralBet: AdmiralBet is a Serbian-licensed sports betting and casino brand with both retail shops and online platform. Comparable in product offering and target market to MaxBet within Serbia and the Western Balkans.
- Soccerbet: Soccerbet is a Serbian sports betting and casino operator with retail and online presence. Direct competitor to MaxBet in Serbia with similar product portfolio and customer base.
Emerging players
- Kaizen Gaming (Stoiximan / Betano): Kaizen Gaming operates Stoiximan (Greece/Cyprus) and Betano (expanding across CEE, Balkans, LatAm, and Africa). An emerging player with strong Balkans and CEE push, increasingly competing for the same omni-channel sportsbook and casino wallet as MaxBet.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
MaxBet social profiles
Digital presenceMaxBet financial estimates
Financial estimateRevenue estimate
Valuation estimate
MaxBet leadership team
Management profileNumber of profiles
Profiles10 records
MaxBet funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MaxBet M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MaxBet
What does MaxBet do?
MaxBet operates an omni-channel gaming platform providing sports betting, online casino games (slots, live dealer, instant games), virtual sports, e-sports betting, and land-based retail gaming across Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia. The company runs 500+ retail locations with 4,290 gaming positions, 44 roulette tables, and 220 self-service terminals, alongside digital platforms available 24/7. MaxBet is a subsidiary of Flutter International and offers the most comprehensive gaming portfolio in the Western Balkans region with over 3,000 slot titles from 40+ providers.
Is MaxBet a public or private company?
MaxBet is a private company. It is classified as corporate owned and is currently operating.
When was MaxBet founded?
MaxBet was founded in 1993. It employs 1,001 to 5,000 people.
Where is MaxBet based?
MaxBet is headquartered in Belgrade.
How does MaxBet make money?
Four revenue lines are on record. Sports Betting is the primary driver. The others are online Gaming, retail Gaming Machines and hospitality Services.
Who are MaxBet's main competitors?
Broad incumbents on record are Flutter Entertainment, Entain plc, Betsson AB and Kindred Group. Superbet is listed as a regional player. Direct peers are MeridianBet, Mozzart, AdmiralBet and Soccerbet. Kaizen Gaming (Stoiximan / Betano) is listed as an emerging player.
Does MaxBet have an API?
No public API is recorded for MaxBet.
What industry is MaxBet in?
MaxBet's product category is Sports Betting & Casino Gaming. Its primary akta.pro industry code is MPAEAKAA, iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms), with a secondary code of MPAEAJAH, Gaming Machine Systems & Management (CMS, TITO, Player Tracking, Bonusing). Its NAICS code is 7132 and its SIC code is 7997.