The following is an in-depth review of the betting agency Luxbet. This review covers the history, features, interface, sports & racing markets, upsides and downsides of the service.
This review is part of our comprehensive Bookmaker Reviews section. The Betting Agencies page provides information and reviews for other sports betting agencies that are suitable for Australians. The following details are updated periodically to keep them up to date.
History, Location and Licence
Luxbet was launched in September 2008 by Tabcorp Holdings, an ASX 100 listed company. Tabcorp also owns and operates TAB Sportsbet. TAB Sportsbet is licensed in NSW and Victoria, while Luxbet is licensed in the Northern Territory.1
Luxbet is one of the later entrants to online sports betting. For this reason it offers generous sign up offers in an attempt to gain market share. Because it is not as established as its sibling bookmaker, Luxbet offers better value odds than TAB Sportsbet.
Services and Features
|New member offers & coupon codes||Sign up with Luxbet and receive a 100% first deposit bonus bet up to $550. Only available to QLD, NT, TAS and ACT residents.|
|Deposit options||Credit card (VISA and Mastercard), Skrill (Moneybookers), POLi, BPAY, bank transfer|
|Withdrawal options||Bank transfer|
|Currencies||AUD, EUR, GBP, USD|
|Minimum deposit||No minimum deposit except if using bank transfer, which has a minimum deposit of $300.|
|Maximum payout||The maximum amount that may be paid out on any wager win via the telephone or Internet (both singles and multiples) is AUD$150,000, subject to specific bet type
limits. In addition, all sports multiple wagers are subject to a maximum win of 1,500 times the client’s wager and all racing multiple wagers are subject to a maximum win of 10,000 times the client’s wager.
|Deposit turnover requirements||1x|
|Bonus credit turnover requirements||1x. Wagers must be at odds of 1.50 or more to count towards the turnover requirement.|
|Bookmaker margin||4.8% (see below for more details)|
|Credit facilities||Available upon application. The minimum credit facility is $250.|
|Forbidden Jurisdictions||United States of America, Netherlands, Hong Kong, Germany, Turkey, Denmark, France, Hungary, US Virgin Islands, Dutch Antilles|
|Mobile betting?||A mobile version of the website is available along with iPad, iPhone and Android apps.|
|Identity checks||Luxbet will attempt an electronic identification check if you do not provide copies of identification within 90 days. Australian residents can verify their identity online.|
|Dormant account fees||None|
Betting Interface and Website Layout
The website layout is intuitive. Beginners will find it easy to learn the ropes while experienced punters will appreciate the familiarity of the layout.
The navigation panel for selecting betting markets is excellent. You can very quickly find available betting opportunities using the drop down menus. Most bookmakers nest categories within categories within categories, but Luxbet has kept it nice and simple, with your desired market no more than two clicks away. When you select a sport the sub categories are displayed without reloading the page, which enables you to find markets quickly.
The odds display area is displayed in the centre of the page, and is arguably the best we’ve seen. The odds are displayed in a concise manner, which reduces unnecessary scrolling up and down the page. When the weekend odds are quoted in some of our preview articles, Luxbet is our preferred source because the head-to-head, line, and margin odds are displayed in such a small area. Links to view additional betting options and, where applicable, team statistics, are displayed to the right of the odds. A nice feature is the mouseover effect for the additonal bets links. When you move your cursor over a link, a list of additional markets is displayed for that event, with links that enable you to jump straight to that market.
The betting slip is displayed on the right hand side of the page. Unlike some bookmakers, you confirm your wager on the following page, rather than from the page you were initially on. Once you click ‘Place Bet Now’ a full betting slip page is displayed, which features all single and multi bet options. As you type in stake amounts the total stake and potential winning amounts are automatically displayed.
One neat website feature is a ‘Quick Multis’ link at the top of the navigation panel. This enables you to quickly create multi bets using the available head to head or line odds for popular sports, such as the AFL. Once the page loads the multi bet selections automatically default to the most popular choices thus far, which gives you an insight into other members’ behaviour.
Overall, the betting interface is incredibly intuitive, easy, and most importantly, quick to use. We can’t fault it.
In our most recent bookmaker margin survey, Luxbet had an average bookmaker margin of 4.8%, which is slightly lower than the survey average of 5.1%. From a punter’s perspective, the lower the margin, the better.
Luxbet offers a broad range of sporting markets, although the selection isn’t quite as large as at some other bookmakers. AFL and NRL are heavily catered for, with over 40 betting options on most matches. Rugby union is also well covered, with around 20 markets per game. The major American sports are catered for, and a huge range of soccer leagues are covered. Most punters will find the selection to be more than adequate, although a few niche punters may be disappointed.
UPDATE: the Luxbet sports offerings have improved markedly since the time of review. Many of the holes in their markets have been filled. We recommend you browse the markets yourself to see if their offerings meet your needs.
Luxbet offers horse, harness and greyhound racing across Australia and selected overseas events. Win/Place, Quinella, Exacta and Trifecta options are available. A number of Tote options are offered for most races, and fixed odds are also available on the more popular events.
Race horse owners and trainers who join the ClubXtra program receive a 12% win bonus every time they place a bet on a horse they own or train. Also, Luxbet claims to offer the most advanced horse racing blackbook in the marketplace, offering email and SMS alerts.
Live Sports Betting
Due to Australia’s Interactive Gambling Act 3, live online betting is not available for Australians. Australian customers must phone in to bet live. If live online sports betting is what you’re after, be sure to check out our survey of betting agencies that offer live online betting.
- No minimum deposit for most deposit methods
- Easy to use, intuitive, beginner friendly interface
- Live scores & statistics section
- Luxbet is backed by the entertainment giant Tabcorp
- Live online betting is not available to Australian residents (due to Australian law)
- Customer service is average. We’ve been underwhelmed when using both the live chat and phone betting service.
- Have been known to suspend or limit the accounts of successful punters
- Often slower to display odds for upcoming fixtures than leading competitors
As far as selecting a bookmaker goes, Luxbet is a solid bet. They provide the reassurance of being backed by Tabcorp, and the well designed interface makes betting easy. Punters who already have numerous bookmaker accounts will enjoy the $500 free bet bonus, while newbies will appreciate the intuitive website layout. One drawback is that the betting selection isn’t quite as deep as some of the larger bookmakers, although it is constantly improving.
Notes and Sources
- 1 http://www.tabcorp.com.au/about-us.aspx
- 2 http://en.wikipedia.org/wiki/Interactive_Gambling_Act
- 3 POLi facilitates online bank transfers that are acknowledged by the bookmaker instantly. This enables you to log into your banking provider, transfer money to the bookmaker, and place bets immediately.