NextBet Acquires CrossBet to Launch in Australia : PMPMedia.io

By Arijit Roul - 30 Sep, 2025 More about the author

NextBet announced its goal to dominate tier-two gambling in Australia, starting with the acquisition of Brisbane-based CrossBet as its official market entry.

Key Points

NextBet acquired CrossBet for an undisclosed purchase amount.
The company described the deal as part of an “ambitious M&A strategy.”
Additional acquisitions are reportedly already in advanced negotiation stages.

New operator NextBet entered the Australian market through its takeover of Brisbane-based bookmaker CrossBet, signalling its first official step in the region. The deal represents the opening stage of what NextBet has described as its long-term “ambitious M&A strategy” to expand operations. According to its statement, the operator intends to focus directly on Australia’s tier-two gambling market and establish itself as a challenger brand.

Scott Cross Transitions to Executive Director Role at NextBet

Founded in 2020 by Scott Cross, CrossBet grew under his leadership, and he now transitions into the Executive Director role of the combined entity. While the financial terms of this acquisition remain undisclosed, the announcement referenced Mixi’s $419m takeover of PointsBet as proof of strong market valuations. Reports previously suggested CrossBet was in advanced discussions with Daniel Simic’s PlayUp regarding a possible acquisition, though this did not materialise.

Scott Cross said: “NextBet’s formation establishes a structure to scale quickly through an ambitious M&A strategy, while investing in proprietary capabilities for a changing wagering market.” CrossBet currently operates on the BetMakers platform, focusing primarily on racing, though it also provides betting markets in other sporting categories. NextBet’s strategic outline confirmed that the company may soon announce new acquisition targets, reflecting its plan to “roll up undercapitalised lower-tier operators.”