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Luxbet - Racing Talk - Racehorse TALK

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Offline Dave

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O.P. « 2017-Dec-15, 04:07 PM »
Luxbet cease to exist next Friday(22/12/2017) The TAB (correct me if I am wrong but aren't they Luxbet Owners?) are scumbags, I referred a friend to Luxbet just over 2 weeks ago, they deposited $700 and received $700 in bonus money, they had some luck and won several times the bonus amount..........now they have been told they have until next Friday to turn it over to meet the turnover stipulation in the small print.....or lose any part of it that has not been turned over.........it is not their fault Luxbet are closing, they could have had the same bets with another bookie and been paid out no problem.....or could have used the original deposit to bet with in lieu of the bonus if they had known.......they have been cheated, I have been an unknowing part of cheating my friend.....of course I cancelled my TAB account as well`

Offline Authorized

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« 2017-Dec-15, 04:51 PM Reply #1 »
Should have no trouble doing that surely ?

Offline Bubbasmith

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« 2017-Dec-15, 06:05 PM Reply #2 »
From what I understand Luxbet was originally set up by Tabcorp to offer fixed odds across the board to provide competition against corporates, including the fixed price arm of Ubet. Now that Tabcorp and Tatts ( Ubet ) are to merge they have done away with Luxbet.

Offline sobig

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« 2017-Dec-15, 06:27 PM Reply #3 »
This is from Tabcorp's annual report (released in August)

The Wagering & Media performance includes the impact of Luxbet (which recorded an EBITDA loss of $8m and an EBIT loss of $13m)
and a 14.6% decline in Trackside revenues. A strategic review of Luxbet is underway

Offline Dave

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« 2017-Dec-15, 06:53 PM Reply #4 »
Auth they haven't even turned over the bonus money yet, still nearly $500 of that left which they will lose, they are not big punters, $50 would be a decent bet for them........now they will be betting on everything that moves cos win lose or draw if they don't turn it over they lose it anyway.....if it was me I would be pissed, but I would get over it pretty quick, when it is a friend doing what I recommended and they get screwed I feel responsible and that is a lot worse!.....they knew this when we opened the account, they could have given a month's notice, the people who worked for them get sacked on Christmas Eve....great company with great morals....NOT...........Thanks TAB!

Offline Wenona

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« 2017-Dec-15, 06:58 PM Reply #5 »



Offline jfc

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« 2017-Dec-15, 07:14 PM Reply #6 »
A topical article that should leave no one in any doubt that Attenborough is an utter fuckwit.

And a highly fertile opportunity for Zelko to exploit.

http://www.afr.com/business/gambling/tabcorp-closing-luxbet-betting-brand-as-tatts-merger-looms-20171215-h05cfj

Offline Dave

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« 2017-Dec-15, 07:30 PM Reply #7 »
jfc tried that link, it won't let you read it unless you sign up and I get far too many emails now, I don't need another one knowing my email address

Online PoisonPen7

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« 2017-Dec-15, 08:01 PM Reply #8 »
This is from Tabcorp's annual report (released in August)

The Wagering & Media performance includes the impact of Luxbet (which recorded an EBITDA loss of $8m and an EBIT loss of $13m)
and a 14.6% decline in Trackside revenues. A strategic review of Luxbet is underway

Well well well. Who would have thought that Trackside isn't a winner.   :lol:

Actually Racing NSW thought so. Sold it to TABCorp and I remember PVL and RNSW getting a caning at the time for doing so (from the usual crowd).

Offline fours

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« 2017-Dec-15, 09:29 PM Reply #9 »
Dave,

Simply have a hundred bets on favs or $7 the place and they wil end up plus or minus 15% depending on the variance run in that time. This will still leave them with several times their stake.

Easily fixed.

Don't want to do 100 bets - that's fine but as the bet number reduces so too will the variance from 15%. WILL still finisg way ahead.

Fours

Offline Dave

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« 2017-Dec-15, 10:01 PM Reply #10 »
fours it wasn't my account, it was a mate who really only bets on a Saturday.........and I didn't get my referral bonus either.........they took too long to verify their account,didn't think there was any hurry, now it is too late for me anyhow............you suggestion makes sense just a lot of inconvenience for someone who works a full time job and only does it as a hobby, finally has some luck and they now make it hard to collect...........pain in the arse as I kinda feel responsible.....of all the bookies in all the world, I had to suggest Luxbet....I thought as the mate won't sit there shopping for top odds, just wants to have his bets and forget about it, the BOB that they offered was the best suitable to meet his needs

He hadn't backed a winner since Adam wore short pants, opens this account, has great luck and backs a few winners and they take it off him?.........I know one of his winners was Like a Carousel last week, I think he had a good bet on it, without knowing exactly I know all up he won over $2,000, he has one Saturday to turn it all over......are there even 100 races run tomorrow? I suppose if we throw in NZ, the Northern Territory and all the country meets around the country, just go all in on as many favs as possible and hope for the best, he ain;'t gunna like it, it is supposed to be recreational, he gambles for relaxation, now he has to work his butt of on his day off, Oh yeah he is gunna love that


Offline fours

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« 2017-Dec-15, 10:18 PM Reply #11 »
Dave,

Wont hurt to ring and ask if the funds can be transferred to VICTAB or NSWTAB account with simialr conditions.

Those two CAN have funs transferred between each other I understand.

Fours

Offline ratsack

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« 2017-Dec-15, 10:19 PM Reply #12 »
From what I understand Luxbet was originally set up by Tabcorp to offer fixed odds across the board to provide competition against corporates, including the fixed price arm of Ubet. Now that Tabcorp and Tatts ( Ubet ) are to merge they have done away with Luxbet.

i think luxbet was set up by the tab (in NT) because they could

Offline ratsack

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« 2017-Dec-15, 10:27 PM Reply #13 »
fours it wasn't my account, it was a mate who really only bets on a Saturday.........and I didn't get my referral bonus either.........they took too long to verify their account,didn't think there was any hurry, now it is too late for me anyhow............you suggestion makes sense just a lot of inconvenience for someone who works a full time job and only does it as a hobby, finally has some luck and they now make it hard to collect...........pain in the arse as I kinda feel responsible.....of all the bookies in all the world, I had to suggest Luxbet....I thought as the mate won't sit there shopping for top odds, just wants to have his bets and forget about it, the BOB that they offered was the best suitable to meet his needs

He hadn't backed a winner since Adam wore short pants, opens this account, has great luck and backs a few winners and they take it off him?.........I know one of his winners was Like a Carousel last week, I think he had a good bet on it, without knowing exactly I know all up he won over $2,000, he has one Saturday to turn it all over......are there even 100 races run tomorrow? I suppose if we throw in NZ, the Northern Territory and all the country meets around the country, just go all in on as many favs as possible and hope for the best, he ain;'t gunna like it, it is supposed to be recreational, he gambles for relaxation, now he has to work his butt of on his day off, Oh yeah he is gunna love that

how much did he deposit ?
how much did he win ?
how much can he withdraw ?

Offline ratsack

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« 2017-Dec-15, 10:35 PM Reply #14 »
he's a small punter , but deposited $700    :bulb:

Offline fours

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« 2017-Dec-15, 10:42 PM Reply #15 »
dave,

To minimise time spent in front of the computer just bet on as many horses as possible per race to return a given stake minus say 10% to llow for a couple of blowout results eg starting with the favourite bet to return $100 until $90 is outlayed.

VICTAB Scone rae 8 the fixed odds final prices for the first 5 favs were 3.3, 4.2,4.2, 8.5 and 9 bucks. However you will use up 89.50 to return $100.00 on the first 4. The winner was remittance at $4.20 fixed. So after just 1 race $90 is used up and you are $10 ahead. Just 8 races will see you finished or 60 minutes or so 'work' and if there are no roughies winning a profit too but breaking even the likely end result.

Always ways to address a given problem efficiently.

Fours


Offline fours

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« 2017-Dec-16, 05:58 AM Reply #16 »
Dave,

Simpler again is simply backing and laying one horse for the whole amount. just the 1 selection.

All done in seconds.

Only requires a betfair account with a trusted friend that can handle the transaction on the lay side if they don't have an account.

Fours

Offline Wenona

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« 2017-Dec-16, 11:04 AM Reply #17 »
I trade out my bonus bets on UK racing as the commission is only 5% (less your discount) and often find runners trading at or very close to their corporate price.

Just remember you don't get the bonus stake back - I average over 80% return -guaranteed if the runner wins or not.

With the $700 bonus bets - better check if any winnings need to then be turned over as well.

Offline Dave

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« 2017-Dec-16, 11:05 AM Reply #18 »
ratsack I said he was a small punter....not a broke punter, he has plenty, earns plenty but his punting is only recreational, between $20 and $50 bets..........he doesn't have the time to do the form like a pro, only has a few bets on a Saturday, maybe $200/300 a week give or take, when they offered a $700 bonus he took that thinking he may as well, the bonus will carry him for 2 or 3 plus his own money he will be able to punt for 6 weeks without a worry even if he doesn't back a winner
He deposited $700
He can withdraw $700

I do not know precisely how much he won but around $2,000.....and he still has most of the bonus money left

fours they are a couple of great suggestions, I have a Betfair account, don't have enough in the account at the moment to allow someone to have a $2,000 bet but could fund it to allow say a short priced fav around evens or 6/4........say Broadside or Victorem should both be real short..........it wouldn't matter whether it won or not, we would get at least 90% of the money back, can't believe I didn't think of that, could back and lay a few favs,  I have done that back when I was eligible for Bonuses

Offline Dave

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« 2017-Dec-16, 11:08 AM Reply #19 »
Wenona this is real money we are talking about, he has already won the money off the bonus bets, (although he still has plenty of bonus money left as well)

Offline Wenona

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« 2017-Dec-16, 11:08 AM Reply #20 »
Most corporates have rules against using bonus bets to back multiple runners in a race.

Offline Wenona

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« 2017-Dec-16, 11:10 AM Reply #21 »
Wenona this is real money we are talking about, he has already won the money off the bonus bets, (although he still has plenty of bonus money left as well)

Well he should be able to trade them out at well over 90%.

Offline Dave

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« 2017-Dec-16, 01:20 PM Reply #22 »
it worked out pretty well, Victorem and Broadside, I laid both of them so broke about even, lost a little but not much, My mate backed both of them, won a little but not much, he will send me the difference and keep the rest..........easy peasy......actually the whole deal worked out well, he doesn't even have to turn over the original deposit....no thanks to Luxbet though, not what they intended

Offline Dave

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« 2017-Dec-21, 04:43 PM Reply #23 »
Luxbet had a product called BOB (Best of the Best) which was quite popular and not offered by a lot of Bookies......

Sportsbetting (as opposed to Sportsbet, different company) have BOB listed under the products that they are offering......Just be aware they are Lying, it is only available to certain Clients (VIP's)

There are several Bookies who do offer BOB but Sportsbetting ain't one of them even though they say they do...........they practice deception!!

Gee you need to do Due Diligence checking out the wheat from the Chaff...i.e. the ones who give you a fair deal(and there are plenty of them) from the crooks(plenty of them too)

Offline Gintara

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« 2017-Dec-22, 03:50 PM Reply #24 »
Who else offers BOB Dave?

I was running our punters club through Lux and obviously now have to move it. Made life very easy knowing I could just put the bets on a forget about them.


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