Luxbet
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| Company type | Subsidiary |
|---|---|
| Industry | Bookmaking |
| Founded | 2008 |
| Defunct | 2017 |
| Headquarters | Darwin, Australia |
| Parent | Tabcorp |
| Website | www.luxbet.com |
Luxbet was an online betting company based in the Northern Territory, Australia. Luxbet was licensed by the Northern Territory Racing Commission and provided racing, sports and novelty betting options which encompass horse racing, harness racing, greyhound racing and feature racing, as well as American football, Australian rules football, baseball, rugby league, soccer matches and tennis. Luxbet offered betting options through telephone, internet and mobile applications.
Luxbet was a subsidiary of Tabcorp. It commenced operations on 1 October 2008. Luxbet ceased operated on 22 December 2017, following the merger between Tabcorp and Tatts Group.[1]
History[edit]
Luxbet was launched by Tabcorp as a complement to the gambling services already offered. Luxbet was positioned to offer gambling products that Tabcorp had been precluded from offering including betting on non-sport related events such as elections and entertainment.
In 2013, revenue generated by Luxbet exceeded $39 million which was up more than 40% from the previous year.
Luxbet’s success directly contributes to the support given to the racing industry by Tabcorp. In addition to the payment of taxes, race fields fees and product fees, Tabcorp also pays a share of Luxbet’s profits to each of the NSW and Victorian racing industries.
In 2015 Luxbet launched Luxbet Europe offering gambling services to the European market.
Products and services[edit]
Betting accounts[edit]
Luxbet enables customers to set up betting accounts into which funds can be deposited and then used to make bets. Luxbet accepted a range of payment options including Visa and Mastercard credit cards, deposits via Moneybookers or POLi and direct deposits via direct bank transfers or BPay.
Luxbet account holders may could bets online, via telephone or via Luxbet’s mobile applications.
Mobile application store[edit]
Luxbet offered applications for the iPhone, the iPad and Android devices. These applications are available for download from the respective official websites or application stores.
The Deposit Funds function allowed Luxbet account holders to top up their Luxbet accounts using their mobile phones, while the Open Account function enables new users to set up accounts on the go. The mobile applications also allow users to check which racing, sports and other events are available for betting on, as well as enabling account holders to keep track of results.
Betting products[edit]
Luxbet offered a wide range of racing products including Best of the Best (which offered the best price of three totes & the highest of the top official on-course bookmakers fluctuation) and LuxDiv (which offered the best price of three totes & the highest of the top official on-course bookmakers starting price). The Luxfixed product offered fixed odds for horse races, greyhound races and harness races right up to the jump. Luxbet also offered Exotics products for both Australian and international racing on thoroughbreds, greyhounds and harness.
Luxbet also offered betting for a wide range of racing and sports events including the Melbourne Cup, the Spring Racing Carnival, National Rugby League, Australian Football League, Champions League and Premier League. Betting through Luxbet is also available for other sports such as cricket, basketball, golf, tennis and motorsports.
Luxbet also offered products categorised as weekly specials, which offer the chance to obtain bonus bets.
Affiliate programme[edit]
Luxbet operated an affiliate programme which allows its affiliates to receive a commission for referring customers to Luxbet. Luxbet distributes marketing material to affiliates through the programme and offered commissions of up to 30% of the monthly net revenue it earns through referred customers.
ClubXtra[edit]
ClubXtra offered owners and trainers in the horse racing industry the chance to win an additional 12% bonus when they place winning bets on horses trained or owned by them.
Credit betting[edit]
Luxbet offered credit betting facilities to applicants that meet the relevant criteria.
References[edit]
- About Us Page on Luxbet
- Tabcorp ASX Listing
- Revenue Generated from Luxbet
- Media Release from Tabcorp highlighting Luxbet's Launch