Luxbet closed their doors on 22 December. Here’s how we can help move your club over to Ladbrokes.
We have some important news about your punters club. Tabcorp has decided to close Luxbet, which means that as at 22 December our technology will no longer work with Luxbet accounts. While this doesn’t impact access to your personal accounts, it does mean your punters club won’t work after that date (please note that all Luxbet credit card subscriptions have already been stopped). The good news is that we can migrate your club to our new partner Ladbrokes and you may be entitled to bonus bets on the transfer.
Here are your options:
- Migrate with us to Ladbrokes – just read these FAQs, follow the prompts and keep all your club data (leaderboards, bet history, transaction statements, banter etc) intact. Note that we cannot transfer your funds – the migration process will auto transfer each member’s share of club funds to their personal Luxbet account. You must withdraw those from Luxbet directly before January 18.
- Close your club – either propose a withdrawal (with member approval for a bulk payment to the captain) or simply ask all members to leave the club to collect their share.
- Do nothing – and on 22 December we will automatically push funds out to club member personal Luxbet accounts (your club will go into hibernation mode – we may be able to recover it later).
Hit the link below, but please read the FAQs first. Actioning your migration will confirm your understanding and acceptance of the process.
You could also of course just propose/process a withdrawal of the funds from your Luxbet punters club and have all your members leave, or you could just start a new club with us using the Ladbrokes platform (this would however mean that none of your betting history, member payment info and dashboard data comes across with you). If you have not migrated your club by December 22, we will distribute funds owed to each member via their linked personal Luxbet account. Effective immediately, we have also stopped all subscription payments that are destined for Luxbet’s bank account.
EVERYTHING YOU WANTED TO KNOW
So what exactly do I have to do?
We have setup an automated preflight checklist on the migration page – just hit the button and follow the prompts. In short, Captains will be prompted to create or link a Ladbrokes account first (on our site, not Ladbrokes), so we can create the new club accounts with their details. We need to ensure there are no outstanding historical withdrawals/transactions, and we need to make sure none of your existing club or member accounts are locked. Our pre-flight will check these conditions automatically and walk you through how to fix anything that fails. Depending on your plans your members may just want these fun tickets for Christmas spending, or you may insist members withdraw the cash then immediately deposit it back to your new Ladbrokes account – this is up to you.
* please note you will need to do most of this by logging into www.puntclub.com (phone or desktop is fine). Do not use the app – its functionality is for running your punters club and is not ideal for switching bookies with the 7 days notice they gave us 🙂
Why do we have to cash out first?
We understandably cannot move your money from Tabcorp’s bank account to Ladbrokes (it’s yours – only you have the right to withdraw it), so migration first requires us to cash-out each member’s entitlement to their personal Luxbet account. This cash out is part of the process, so when you next login to Punt Club and you see a zero balance in the new club accounts, it is because all the cash has been distributed to members’ personal Luxbet accounts (or you’ve done a bulk withdrawal as below). Members can either deposit the funds they withdraw from Luxbet, and/or you can just setup new subscriptions for Ladbrokes – either way all your statement/transaction and betting/banter history is retained – woot!
What if I want to do a bulk captain’s withdrawal to keep our funds intact?
No problem. Just propose a withdrawal of your entire club balance as normal, wait for member approvals (this is important), and once everyone has OKd it, you can process the funds out to your personal Luxbet account. You can then go through the migration process safe in the knowledge you already have all the cash, and your friends won’t be tempted to fritter away club savings at the local Bowlo or the Boxing Day Test.
It’s Saturday – can I punt today and move on Monday?
Hell yes. We’re not here to root spiders.
We’ve been working with Laddies for a few months now already, their odds boost feature is grouse, and both their app and mobile website (as used inside our new app) are first class. Plus, all your existing club information is retained – bet history, performance, finances, betting order etc. All you’ll need to do is setup a new subscription for deposit to Ladbrokes’ bank account instead of Luxbet’s – you’ll be prompted to do this the next time you login.
Do all my members need a Ladbrokes account too?
Yes. To satisfy federal legislation all members need to by ID verified by Ladbrokes, so members will be able to either link an existing personal Ladbrokes account or they can tick a box to have us create one for them automatically using the customer account information we already have. If it’s a new account or you’re yet to fund an existing account, you will also be entitled to a matched first deposit bonus of up to $700 (subject to Ladbroke’s normal eligibility criteria and terms).
Can I still bet with funds in my personal Luxbet account?
Yes, but only up until 8am 22 December (after that you’ll still be able to withdraw money from personal accounts up until January 18. The migration process is only for club accounts that rely on Punt Club technology to operate properly – you will be able to continue using funds in your personal account with Luxbet at your discretion, or you can withdraw them and deposit to the new Ladbrokes club accounts.
What happens to pending bets that have not resulted yet?
If you have unresulted bets as at 8am on Friday 22 December 2017, you will be refunded the greater of your stake or the cash out value (subject to availability).
Are we entitled to any bonus bets in the move over to Ladbrokes?
Yes, clubs will be entitled to a matched first deposit of up to $700 subject to the normal eligibility terms and conditions <link> on bonus bets and promotions provided by Ladbrokes. So if your club has $700 in the kitty and you’re eligible, you’ll have $700 more to bet with this weekend.
Can we use the Ladbrokes app?
Yes – but for your personal betting accounts only at this stage, and either way our new Punt Club app works beautifully with their shizzle. We are also working on a process called deep-linking that will automatically open the Ladbrokes app when hitting Bet Now from your club dashboard, but that might be a little ways off and our new Punt Club app is a beautiful thing in the meantime. You can still login to the Ladbrokes app using your personal account details and there’s plenty of racing and sports coming up to keep you amused even when it’s not your turn to bet for the club.
I’m still confused – can I talk to someone?
Yes – we will be calling people when we notice failed migration conditions to see how we can help, or just to shoot the shit about the merits of Peter Handscombs axing. We would also encourage anyone who has more questions to hit up our supports bods by creating a ticket on the Contact page.