Global wagering newcomer NextBet has officially entered the Australian market with the acquisition of CrossBet, marking the first step in an ambitious plan to reshape the country’s mid-tier wagering sector.
The deal provides NextBet with an immediate foothold in Australia, leveraging CrossBet’s established reputation as one of the top bookmakers with strong roots in racing and growing coverage of major sports such as AFL and cricket.
Scott Cross, founder of the Brisbane-based CrossBet, will lead NextBet’s operations in Australia as Executive Director. He said the company’s strategy combines consolidation with innovation.
“The formation of NextBet creates the foundation to scale rapidly through an ambitious M&A strategy, while investing in proprietary capabilities to meet the demands of a changing wagering market,” Cross said.
NextBet eyeing expansion in Australia after CrossBet acquisition
NextBet’s blueprint centers on acquiring smaller, underfunded operators and uniting them under a single brand to streamline operations, improve efficiency, and deliver a more tailored customer experience.
The company pointed to PointsBet Holdings Limited’s $419 million valuation as evidence that the market rewards emerging betting operators able to combine scale with technology-driven execution.
To accelerate growth, NextBet is seeking strategic investors. “Investment will be used to accelerate acquisitions, enhance platform capabilities, and solidify NextBet’s position as the go-to consolidator in the Australian market,” Cross said.
Discussions are already underway with several acquisition targets, with NextBet expecting to announce further deals in the coming quarters. The company’s long-term goal is to fill what it describes as an “emerging leadership void” in Australia’s tier two wagering space.
Beyond traditional betting, NextBet also sees significant opportunities in Australian esports betting sector, offering markets on leading titles including League of Legends, Dota 2, CS2, and Overwatch 2.
The takeover of CrossBet marks only the beginning for NextBet. With a strategy built on aggressive consolidation and investment in technology, the operator is kicking off its mission to become a formidable competitor in Australia’s rapidly evolving gambling landscape.
