Punt Club Teams Up With Luxbet

We Are Back.

Man, what a week. On August 26 we woke to the news that our bookmaking partner, Sports Alive, went into liquidation without the funds to cover customer deposits.

Thousands of punters and investors were affected, and the ‘bet some bank some’ approach of punters clubs meant we were hit pretty badly by comparison.

Now here’s the good news. We are pumped to announce that we have concluded a deal with Luxbet to honour current account balances and process our bets. The deal was appropriately finalised while on a punters club trip to the Balaklava Cup last week, and we captured a little of that moment on a special episode of Punt Club TV.

WHAT THIS MEANS TO OUR CUSTOMERS

1. Your money is safe. Once customers have OK’d us pursuing Sports Alive for the missing money, we will immediately credit your account with the current balance and then do the hard yards as an unsecured creditor with the liquidator, the regulator, and the banks.
2. Luxbet isn’t going anywhere. While a relatively new kid on the corporate bookmaker block they are 100% owned by the listed Tabcorp, are licensed (along with Sportingbet and Sportsbet) by the Northern Territory government, and are solid financially.
3. More markets to bet on. Luxbet offers agressive odds and great bonuses on up to 50 markets per event. They still offer old favourites like Best Tote and will be adding exotic betting options in their release next month.
4. Same club dashboard & super-fast changeover. Luxbet uses the same wagering platform we do, so the switch will be fast. Applying Punt Club’s design skin might take a little longer, but (with your permission) we will migrate the accounts over tonight, complete testing on Tuesday, and be ready for the punt by Wednesday in time for this week’s footy finals and spring racing.

WHAT OUR CUSTOMERS NEED TO DO

Login to your account on PuntClub.com, and follow the  prompts that will let you consent to:

1. Assigning your claim against Sports Alive to Punt Club
2. Transferring your personal data to Luxbet so we can setup the account and start the normal ID process.
3. Luxbet’s terms and conditions of use, so you can get on the punt with them (almost) straight away.

All pretty simple really, and a great result. While blindsided like everyone else, we can only apologise for the Sports Alive debacle – having a bookie go tits up after spending everyone’s money is dead set un-Australian and we were bloody mortified to be involved. Many thanks to the Luxbet lads for filling the breach. We would also like to thank you for your patience, and especially thank all those who sent messages of support and encouragement when they could have been forgiven for sending bikies.

So please, jump in and approve your transfer and we’ll get your new account setup pronto. From there we will likely have the site operational and ready for the punt by Wendesday (our customers will be the first to know), along with a new edition of Punt Club TV and a newsletter with all the hot tips you’d expect in the lead up to footy finals and Spring Carnival.