NextBet Launches as Acquisition Vehicle (AV) to Consolidate Mid-Market Operators; Announces Flagship Acquisition and Growth Strategy

Sydney, Sep 26, 2025 AEST (ABN Newswire) - NextBet is pleased to announce its official launch, establishing itself as a bold new AV and challenger in the Australian wagering market. Formed to capitalise on the mounting pressure facing undercapitalised operators and an accelerating wave of industry consolidation, NextBet enters the market with the acquisition of well-established operator, CrossBet. This strategic move marks the first step in a bold plan to build Australia's next dominant Tier Two wagering group under a united brand.

Highlights

- Formed to lead M&A strategy

- Launches with flagship acquisition of CrossBet

- Positioned to become the leading Tier Two operator as market consolidation accelerates

- Strategy to roll up undercapitalised lower-tier operators

NextBet will be led by, Scott Cross, who will serve as Executive Director. The move is a strategic restructure designed to position the business for its next phase of inorganic expansion.

"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," said Cross.

Strategic Vision: The Path to Tier Two Dominance

NextBet is pursuing an aggressive growth strategy - rolling up undercapitalised lower-tier operators while driving operational efficiency through product, speed of profiling and a differentiated user experience that attracts and retains high-value customers.

To support this next phase of expansion, NextBet is actively seeking strategic investors who share its vision for reshaping the mid-market wagering landscape. Investment will be used to accelerate acquisitions, enhance platform capabilities and solidify NextBet's position as the go-to consolidator in the Australian market.

Market Timing and Validation

The current $419M valuation for PointsBet Holdings Limited (ASX:PBH) confirms that the market rewards scaled, tech-enabled operators with focused execution. NextBet's model builds on this blueprint, designed to fill the emerging leadership void in the Tier Two segment with an advanced offering custom built for modern wagering dynamics.

NextBet is currently in advanced discussions with several additional acquisition targets and expects to announce further transactions in the coming quarters.

About Betmakers Technology Group Ltd

Betmakers Technology Group Ltd (ASX:BET)  (OTCMKTS:TPBTF) is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services.

    

About Crossbet

CrossBet is an Australian-owned online bookmaker that launched in 2020 and is licensed by the Northern Territory Racing Commission. Based in Brisbane, the company has carved out a niche in the competitive wagering market by focusing heavily on horse racing, greyhounds, and harness racing, while also offering betting markets across popular sports like AFL, NRL, cricket, and international competitions. Built on the BetMakers platform, CrossBet provides a smooth, mobile-friendly betting experience with features such as live race streaming through CrossBet TV, quick bet placement, and user-friendly navigation. Its emphasis on strong racing odds and intuitive design has made it particularly attractive to racing enthusiasts across Australia. While navigating industry headwinds, CrossBet continues to maintain a reputation for reliability, competitive racing products, and a customer-first approach supported by strong responsible gambling tools.

 

About Pointsbet Holdings Ltd

PointsBet Holdings Limited (ASX:PBH) (OTCMKTS:PBTHF) is Australia's best new online bookmaker offering all your traditional fixed odds markets (Sports & Racing) and the world's most exciting sports betting format, Spread Betting. PointsBet has developed a scalable cloud-based wagering platform through which it offers its clients innovative sports and racing wagering products and iGaming products. PointsBet owns it's core technology, everything from the front-end to the back-end player account management and sportsbook platforms.

 

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