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Luxbet Review – Read our Bookmaker Rating in 5 Mins

luxbet review from OpenOdds.comLuxbet is an Australia-based online betting company which was officially launched as a subsidiary of Tabcorp Holdings Limited in September 2008. Licensed by the Northern Territory Racing Commission, Luxbet provides opportunities to bet on horse racing, as well as harness racing, greyhound racing and feature racing. Luxbet is an approved betting operator for the Australian Football League, National Rugby League, Cricket Australia, Tennis Australia and the Professional Golfers Association of Australia.

The idea behind Luxbet was to offer betting products that were not covering by Tabcorp Group, the Australian gaming operator, due to legal restrictions in Australia. Among these services are novelty bets on non-sporting events such as elections and reality TV as well as large sporting events.The revenue generated by Luxbet supports the racing industry in the Northern Territory, Australia.

Luxbet launched “Luxbet Europe” in 2015 expanding their online betting services to the European market. Since this launch, Luxbet has widened its customer reach in both geographically and in terms of sports coverage. The bookmakers now offer betting opportunities on all the major sporting events including: National Rugby League, English Premier League and the Champions League.

    • Generous signup offers for first time users.
    • “ClubXtra” offers an additional 12% bonus for trainers and owners in the horse racing industry.
    • A wide range of daily and weekly promotions for both new and existing users.
    • Incredibly niche betting market options including entertainment, politics and finance.
    • A large range of racing betting options with opportunities for high winnings.

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The result of the OpenOdds Luxbet review

After conducting our OpenOdds Luxbet review, we can conclude that this bookie has excelled in recent years since expanding in the global market. Their dedication to the horse racing industry is still the underpinning of the business but have embraced almost all aspects of online betting with great success. What Luxbet lacks in innovation in terms of utilising the latest betting technology, they make up for in promotions and lucrative winning bonuses.
Luxbet is rather late to join the online betting industry having been launched in 2008, this however is advantageous to customers since they offer a generous welcome bonus for first time users: deposit $10 or more and Luxbet will reward you by matching it. Additionally these bonuses can be split into dominations of $10 meaning you can divide your betting potential across various sports.

Luxbet successfully managed to make a name for itself in a very competitive marketing, largely owing to the support from the Tabcorp family. Their reputation as a reliable and authoritative bookmakers will no doubt have boosted Luxbet’s advancement in the online betting market.

Quick, easy and hassle free, Luxbet has moved away from its corporate competitors: the website is designed to be user friendly without the frills of in-play bets, live streams or cash cards. This lack of innovation could come back to bite Luxbet if customers come to expect these add-ons as the norm. Having said this however, Luxbet put so much emphasis on daily, weekly and monthly promotions that perhaps they don’t have to resort to such methods to lure in the punters. Our OpenOdds team awarded a Luxbet rating of 80 out of 100.

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Luxbet experiences: Exclusive rewards and bonuses

        • One of the best features of Luxbet is the number of international markets represented.
        • Luxbet offers a fantastic choice of racing betting products including: Best of the Best, exotic bets, LuxDiv, ClubXtra, Win/Place, Quinella, Exacta and Trifecta as well as fixed odds.
        • Weekly promotions of up to $400 worth of free betting offers available through daily maximisers.

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Luxbet review: OpenOdds detailed rating report regarding this top bookmaker

All bookies must undergo the scrutiny of the OpenOdds team in order to complete our review. As with all bookmakers reviews we dissect and analyse Luxbet in terms of the following 10 categories:

            1. Bonuses
            2. Betting odds
            3. Customer service
            4. User-friendliness
            5. Sports covered
            6. In-play product
            7. Payment methods
            8. Other products
            9. Security
            10. Betting limits

1.) Bonuses: Huge payout potential through regular weekly promotions

This bookie has fully utilised their Luxbet bonus, offering a range of promo codes through various betting sources. The basic idea is that the higher their first bet, the more lucrative the bonus of free bets. First time bettors have the opportunity to win up to $700 in free bets, arguably putting this bookie up there among those offering the Best Free Bets Offers.

This all depends on how daring you are feeling; playing it safe with Luxbet is likely to have a time limit before you get sucked into one of their weekly promotions. After all, one cannot argue with how successfully Luxbet plays on the idea that who dares, wins.

2.) Betting odds: Newbie to the market offering great odds

Having only been launched in 2008, Luxbet is eager to make its mark in the competitive world of online betting. One way they achieved this is by offering competitive odds on a large array of sports, these odds being far better value than those offered by sibling bookie TAB Sportsbet (also spawn of the Tabcorp family).

How does Luxbet offer such great odds? Thanks to their betting options, most notably “Best of the Best” and “LuxDiv”, punters can ensure favourable payouts. The bookmakers also offer fixed odds among their horse racing betting options. It’s worth checking out Luxbet on OpenOdds’ betting odds comparison to get the best deal.

3.) Customer service: Average at best

Online betting services these days can no longer get away with not offering customer service 24/7 in order to stay in the competition and Luxbet is no exception. Having said this, their customer service leaves a lot to be desired: users still have to submit their queries in a contact box despite being under the guise of “live chat” and it was only recently that the bookies readdressed their 4 hour contact window to be more flexible.

Fortunately, what Luxbet lacks in live support they make up for in archived FAQs, providing answers to the most common online betting questions.

4.) User-friendliness: Customisable to find what you want quickly

Luxbet’s interface is quick, easy and simple to use. Adopting the horizontal table layout popular with other online betting websites, Luxbet achieves clarity without cluttering the page. To maintain this layout, Luxbet has included “see all” buttons which slows down the process if you are looking for a particular sport. Fortunately, you can customise this layout to show only the sports you want to bet on.

The “quick-multi” tab on the navigation bar is unique to Luxbet, allowing punters to create multi-bets for popular sports and leagues. Betting odds are also displayed clearly and concisely for each sport, reducing the need for extra scrolling. Many competitive websites fall into the trap of displaying too many numbers side by side resulting in an incomprehensible mess for anyone other than a true betting veteran, Luxbet doesn’t fall into this trap.

5.) Sports covered: In depth coverage of a broad range of markets

Despite starting off life as a predominantly Australian-tailored betting website, Luxbet has successfully incorporated international markets to its portfolio of sports betting options. Rugby union and American sports leagues as well as European and international football leagues are covered in depth. Coverage for the Australian Football League and the National Rugby League is in a class of its own, with over 150 betting options on the majority of matches. In terms of a Luxbet sportsbook review and sports betting bonus, this bookie has passed with flying colours.

6.) In-play product: Limited by Australian law

Due to the Interactive Gambling Act which was passed in Australia in 2001, it is illegal for online gambling operators to offer “real-money” in live betting or gambling products to Australian citizens. The only way to get around this is to phone in to place live bets.

With the advancement of in-play products, live streaming and interactive gaming in this highly competitive market, this could be a real problem for Luxbet to overcome.

7.) Payment methods: Withdraw your money without incurring fees

A real advantage for potential punters is the fact that in many cases there is no minimum deposit amount for most betting options on Luxbet. There are also numerous payment options including by credit card or direct bank transfer, keeping in line with the bookies’ promise of an easy and hassle free betting experience.

Withdrawing your money is also straightforward. As with many online betting websites, necessary security measures are in place before you can access your money, in this case you have to submit proof of identity to your account. You can also transfer your money directly from your Luxbet account to your bank account without incurring unnecessary fees or hidden service charges.

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8.) Other products: Good odds on novelty bets

The markets covered by Luxbet are extensive, included within this list are those betting options which fall under the category of novelty, entertainment, finance or special events. Fortunately Luxbet’s competitive odds are not limited to the popular betting options alone, but are extended to these novelty bets also.

The Luxbet app really fulfills their promise of simplicity; with easy access to all the relevant categories organised in a comprehensive manner. The racing platform is really one of the best on the market, comparable to the best online bookmakers, incorporating Luxbet’s branded betting options LuxDiv and Best of Best as well as live audio streaming of the events.

9.) Security: Is Luxbet safe?

Tabcorp is an entertainment giant and one of the world’s largest publicly listed gaming companies, with their backing Luxbet was trustworthy from the fore. As well as this, they incorporate the usual security measures like uploading proof of identity before withdrawing money.

It is also important to note that Luxbet is banned in the following countries: United States of America, Netherlands, Hong Kong, Germany, Turkey, Denmark, Czech Republic, Hungary.

10.) Betting Limits: Too restrictive

No bookmaker can escape scathing reviews from those who claim to have had their account limited, suspended or blocked. However, it would be unfair to discount the higher concentration of these sorts of complaints with regards to Luxbet: it seems that the bookie takes frequent winners very seriously.

Whether or not complaints of account limitations should be taken with a pinch of salt is difficult to judge, but punters ought to be aware of the real limitations in place on winnings. The maximum amount that will be paid out (via the phone or internet) is AUD 150,000 (just under 90,000 GBP). When compared to other bookmakers such as bet365 where possible winnings can reach £1m, these limitations are really put into perspective.

Conclusion

Overall, for newcomers to the competitive market of online betting, Luxbet have done very well to establish themselves as a quick, hassle free bookmakers. This market is developing at an astonishing rate and with limitations in Australia’s legislation regarding interactive gaming and in-play options, Luxbet have responded by offering promo codes to keep the punters coming back.

The difficulty Luxbet has is their desperation to appeal to an international market while maintaining their Australian clientele. Their coverage, betting options and odds for the most popular markets in Australia is hard to criticise, particularly when it comes to horse racing and AFL. Meanwhile, their coverage of other sports, while extensive, is not as in depth as that of overseas bookies.

The OpenOdds team agree that Luxbet hold true to their promise of hassle-free betting, appealing to first time users and veterans through attractive promo codes, but for such a young bookie they have bitten off slightly more than they can chew.

Luxbet: Opinions & Experiences of actual users

feedbackHave you recently created a Luxbet account or are a Luxbet betting veteran? We would like to hear from you. Have we described Luxbet accurately? If not, then we encourage you to share your own Luxbet review with the OpenOdds community. User feedback is always appreciated.

 

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