Tabcorp Holdings, one of Australia’s largest gaming companies, has launched Luxbet.com, a Northern-Territory-based bookmaking firm.
Beginning Oct. 1, the site will feature a racing-, sport- and novelty-product bookmaking business by telephone or online. The site offers opportunities once unavailable to Tabcorp due to regulatory restrictions, which include betting on elections, entertainment events and fixed odds betting up to the jump on all races.
Additionally the site aims to give discretionary payments to each of the New South Wales, or NSW, and Victorian racing industries of 12.5 percent of profits from Luxbet.com.
“Luxbet.com’s willingness to pay race fields fees and to contribute generously to the NSW and Victorian racing industries sets us apart from other bookmakers,” said Robert Nason, Tabcorp’s managing director of wagering, in a prepared statement. “By entering the Northern Territory, we can offer a more complete product range and new betting options.”