NextBet Enters Australian Betting Market with Acquisition of CrossBet

NextBet Launches Operations Through Acquisition of CrossBet

NextBet has officially entered Australia’s competitive betting market by acquiring CrossBet, a Brisbane-based bookmaker. This acquisition marks the beginning of NextBet’s strategy to unite mid-sized operators and establish itself as a significant challenger within the industry.

Building a New Tier-Two Betting Powerhouse

NextBet was founded to capitalize on the increasing pressures faced by smaller bookmakers and the ongoing trend of mergers within the market. Its primary focus is on Australia’s mid-tier betting sector. By consolidating financially stretched operators under one umbrella, NextBet aims to strengthen its position and expand its presence in a market heavily influenced by industry consolidation.

CrossBet, which started operations in 2020, has earned a reputation in Australian racing circles. Licensed by the Northern Territory Racing Commission, the platform offers wagering on thoroughbred, greyhound, and harness racing, as well as popular sports such as AFL, NRL, and cricket. Powered by BetMakers Technology, CrossBet features live streaming, quick bet options, and a mobile-friendly design. Its commitment to competitive odds and responsible gambling tools has helped it carve out a loyal customer base.

Scott Cross, the founder of CrossBet, now serves as Executive Director at NextBet. He described this launch as a strategic reset, providing a foundation for growth through further acquisitions. Supported by proprietary technology tailored to evolving customer needs, the company is well positioned for expansion.

NextBet’s Growth Strategy: Consolidation and Innovation

NextBet plans to grow by acquiring smaller bookmakers struggling with regulatory challenges and intense competition. By bringing these brands under a single management, the company aims to enhance operational efficiency and deliver a superior experience to high-value customers.

The company is also seeking external investment to fuel its expansion plans. Funds raised will be directed toward acquiring additional operators and upgrading its technological infrastructure. NextBet’s leadership believes this approach will establish the company as the leading consolidator in Australia’s mid-market betting sector.

Industry trends support this strategy. The recent AUD419 million valuation of PointsBet Holdings Limited demonstrates market rewards for companies combining scale, technology, and disciplined execution. NextBet intends to replicate this model at the Tier Two level, addressing what it perceives as a leadership gap in this segment.

Currently, NextBet is in advanced discussions with several potential acquisition targets and expects to announce further deals soon. With CrossBet providing a strong foundation and a clear vision for growth, NextBet is confident that partnerships and innovative technology will pave the way for it to become a major player in Australia’s betting landscape.