Luxbet the new bookmaking business

Tabcorp, the giant Aussie bookmaker has launched its new Northern Territory-based bookmaking business Luxbet, which will operate as a stand-alone business to the New South Wales and Victoria TABs.

Tabcorp's latest venture follows huge growth in the bookmaking industry in the Northern Territory, estimated by Tabcorp to generate revenues of over A$4 billion this year, due to regulatory differences between the territory and other states.

Luxbet will offer products Tabcorp has been unable to previously offer, such as proposition betting on elections and entertainment events and fixed odds betting.

"The launch of demonstrates Tabcorp's commitment to expanding its wagering business," Tabcorp's managing director of wagering Robert Nason said. "By entering the Northern Territory we can offer a more complete product range and new betting options."

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