Australian gambling and betting operator Tabcorp has announced that its new bookmaking operation LuxBet.com will begin operations for the Northern Territory next month.
LuxBet.com is set to operate as a standalone business to its New South Wales and Victoria services and offer a mix of racing, sport and novelty product bookmaking wagers by telephone and over the Internet. Tabcorp revealed that the new service would compete with corporate bookmakers in the Northern Territory and operate from an office at Fannie Bay racecourse in Darwin employing up to 30 people.
LuxBet.com will be able to offer punters betting on elections, entertainment events and fixed-odds up to the start of all races, something it had been previously unable to do because of regulatory restrictions. The site has been designed to offer fixed-odds on more thoroughbred races than any other corporate bookmaker while remaining market competitive in terms of the prices it offers and its preparedness to take larger transactions.
“The launch of LuxBet.com demonstrates Tabcorp’s commitment to expanding its wagering business,” said Robert Nason, Managing Director of Wagering for Tabcorp.
“We invite racing and sports punters to discover LuxBet.com. Our team has created a compelling offer in just 100 days and there will be much more to come.
“By entering the Northern Territory we can offer a more complete product range and new betting options. LuxBet.com’s willingness to pay race fields fees and contribute generously to the New South Wales and Victorian racing industries sets us apart from other bookmakers.”
Nason revealed that Tabcorp intends to provide each of the racing industries in the states of Victoria and New South Wales with discretionary payments totalling 12.5 percent of the profits from LuxBet.com.