Australia’s wagering sector is preparing for another structural change as NextBet moves to integrate PlayUp into its platform ahead of a planned launch on March 1. The transition forms part of a broader consolidation trend within the country’s online betting market, where operators seek scale and operational efficiency amid regulatory and commercial pressures.

Account Migration And Platform Changes

Customers of PlayUp recently received notification confirming that their accounts, including balances, bonuses, and pending bets, will automatically migrate to NextBet when the new platform goes live. The communication explained that PlayUp will remain visible as a brand following the transition. During the migration period, temporary service interruptions will affect access to both PlayUp and Draftstars platforms.

PlayUp told customers: “We’re writing to let you know that PlayUp is joining forces with NextBet, a new betting brand launching soon,” as the Straight reports. “NextBet Pty Ltd has acquired PlayUp. As part of the transition, your PlayUp account will automatically transfer to NextBet, along with your existing cash and bonus balances as well as any pending bets.” The message also stated: “PlayUp is sticking around too, and you’ll be able to access your account at www.playup.com.au or by downloading the new PlayUp App.”

The migration schedule involves several operational adjustments. PlayUp and Draftstars apps and websites will go offline near the end of February, while CrossBet’s digital channels will close on February 26. Draftstars contests scheduled for early March will appear only after the migration concludes, affecting some sporting events including the NRL season opener between the Knights and Cowboys.

Draftstars forms part of the PlayUp portfolio and will operate within the NextBet group once integration completes. NextBet previously acquired CrossBet in 2025, positioning itself within the mid-tier bookmaker segment focused on racing and sports betting markets.

NextBet operates under a licence from the Northern Territory Racing and Wagering Commission. The company has indicated an intention to consolidate what it describes as smaller wagering operators lacking sufficient capital. The addition of PlayUp continues that strategy.

PlayUp’s Corporate Background

PlayUp entered the Australian betting market around 2014. The company faced early financial difficulties, entering liquidation in 2016 before receiving investment that revived its operations. Over the following years, it expanded through acquisitions, including several smaller wagering brands and the daily fantasy sports platform Draftstars.

Its corporate history includes several major transactions that did not materialise. A planned US$450 million sale of its assets to the cryptocurrency exchange FTX collapsed. The exchange itself later failed, and its founder Sam Bankman-Fried received a prison sentence of 25 years. PlayUp also explored a public market combination with a Nasdaq-listed special purpose acquisition company that did not proceed.

Regulatory setbacks also shaped the company’s trajectory. Authorities revoked some US licences during its attempted American expansion, and domestic regulators imposed fines linked to advertising compliance. These developments contributed to the company’s eventual sale.

NextBet’s expansion occurs during a period of consolidation across Australia’s online betting sector. Operators have pursued acquisitions to manage tightening margins, higher compliance costs, and evolving regulatory requirements. Industry observers have highlighted growing competition among mid-sized bookmakers seeking to strengthen technology platforms and customer reach.

The integration of PlayUp brings a combined customer base, technology assets, and brand recognition to NextBet’s platform. Market reports indicate that this consolidation may influence future competitive dynamics, with other operators evaluating strategic responses.

Some analysts expect further mergers or asset sales as companies reassess long-term positioning. Smaller bookmakers face decisions regarding partnership, acquisition, or operational restructuring within an increasingly concentrated market environment.

While NextBet prepares its launch, regulators and market participants will monitor how the combined entity develops within Australia’s wagering framework. The integration timeline and customer migration process remain key operational milestones ahead of the March rollout.