Update December 2017: Luxbet officially ceased operations on 22nd December 2017. They were backed by Australia's largest publicly listed wagering corporation, Tabcorp Holdings Limited, Luxbet offered customers a first-class betting experience and some great bonus rewards. They no longer offer a sign up bonus as a result of their closure. Throughout their operation, they did offer some highly competitive bookmaker welcome bonuses.
Luxbet's closure coincides with the introduction of a new betting agency to the Australian fold, Neds. Neds have hit the ground running by offering new customers a sign up bonus and a swag of weekly betting offers. Read on more information on the Neds bonus bet.
- No longer available
Luxbet was an Australian online bookmaker. They formed in 2008 and have headquarters in the Northern Territory, where they were also licensed. Luxbet benefited backing of corporate powerhouse Tabcorp, yet ultimately, Tabcorp have decided to throw full weight behind the TAB brand in favour of Luxbet. The corporate structure was similar to that of fellow betting agency Betfair. Luxbet were renowned for providing superior bonus bets, regular promotions and the best odds.
Luxbet offered a wagering experience of the highest order, and it will be disappointing for account holders to seem them go. Their sign up bonus fluctuated, but generally represented far better value than Unibet's sign up bonus. Luxbet didn't advertise as aggressively as Sportsbet, the biggest bookmaker in Australia, and on reflection, perhaps this contributed to Tabcorp's decision to discontinue the brand.
- Sign up bonus - 100
- Member bonus bet promotions - 90
- Betting products & bet types - 100
Luxbet offers members a rare combination of superior first deposit bonuses, weekly betting specials and cash refunds, and industry best betting products.
Betting products & promotions
Like most betting agencies, Luxbet provides a number of promotions for their existing members. Sports like AFL and NRL are well catered for, as major events like the Australian Open tennis. The appealing aspect of Luxbet's promotions, is that many of them are cash-back refunds, as opposed to the bonus bet refunds supplied by BetEasy.
Horse racing promotions
Luxbet doesn't miss a beat when it comes to presenting its customers with betting promotions on horse racing meets either. The betting offers can vary from refund for finishing 2nd or 3rd, to receiving a bonus bet if your horse wins, as was the case with their Derby Day promotion.
Best of the Best
Best of the best is simply the best racing bet type offered by bookmakers. Punters receive the higher of the Top Fluctuation (Top Fluc) or the best of 3 totes. You simply won't find a better betting product.
Over time, the 'BOB' product pays off. The graph to right shows the dividends paid by other betting products and shows how the Best of the Best dividend is calculated. Few other bookies offer Best of the Best, Ladbrokes is one that does.
Luxdiv is another great horse racing product offered by Luxbet. Luxdiv pays the higher of the official starting price (SP) or the best of 3 totes. A Luxdiv bet can be placed at any time, which makes it a great bet type to use just before the start of a horse race. A good alternative to this product is with betting exchange Betfair, who offer a higher value starting price bet type.
Club Xtra - 12% bonus winnings for owners and trainers
Luxbet also operates an incentive program for industry personnel. If you own, or train a racehorse, you can sign up to their Club Xtra program and receive a bonus 12% bonus on winning dividends. They are the only other betting agency, along with Palmerbet, to offer a bonus for racehorse owners.