NextBet is rolling PlayUp into its system before launching March 1, another sign Australia’s online wagering market is shrinking into fewer, bigger platforms.
What PlayUp customers are being told
PlayUp has emailed customers saying their accounts will move automatically to NextBet once the new platform goes live. That includes cash balances, bonus balances, and any pending bets. PlayUp also says it will still be visible as a brand after the switch, with access via its website or a new PlayUp app.
Downtime is coming (and it hits Draftstars too)
The changeover comes with some short-term pain: PlayUp and Draftstars apps/sites are expected to go offline near the end of February during the migration. CrossBet’s digital channels are set to close on February 26, and Draftstars contests slated for early March won’t appear until the move is finished—impacting entries tied to events like the NRL opener between the Knights and Cowboys.
Where Draftstars and CrossBet land after the dust settles
Draftstars, part of PlayUp’s portfolio, will sit inside the NextBet group once the integration is done. NextBet previously bought CrossBet in 2025 and operates under a Northern Territory Racing and Wagering Commission licence. CrossBet’s name is expected to vanish completely, while PlayUp remains around only briefly as the handover wraps up, with a shutdown planned for February 28 during the transfer window.
PlayUp’s messy backstory
PlayUp has been around in Australia since roughly 2014 and hit serious trouble early, including liquidation in 2016 before fresh investment revived the business. It later expanded by buying smaller wagering brands and adding Draftstars. It also has a history of deals that went nowhere, including a proposed US$450m sale to FTX that collapsed; FTX later imploded and founder Sam Bankman-Fried was sentenced to 25 years in prison. PlayUp also explored a SPAC route tied to a Nasdaq-listed vehicle that didn’t get over the line. Regulatory bumps also piled up along the way, including revoked US licences during its attempted American push and fines at home tied to advertising compliance.
The sale, the payout claims, and the legal noise
The switch follows shareholder approval of PlayUp’s A$18.6m sale to CrossBet late last year, despite some investor pushback. One shareholder told NEXT.io they haven’t been paid and say their share capital hasn’t been transferred into NextBet. Meanwhile, legal pressure around PlayUp and CEO Daniel Simic remains a headline of its own: the dispute with former US CEO Laila Mintas is still active on counterclaims, and in July 2025 a judge ordered Simic’s devices examined by a forensic investigator. Separately, Herbert Smith Freehills Kramer reportedly won a ruling to recover $330,000 in unpaid fees, with questions lingering about whether PlayUp can actually pay.
Who really controls NextBet?
NEXT.io reports NextBet launched in September 2025 as a challenger brand pitching a “roll-up” of smaller operators. Public filings cited by the outlet suggest NextBet is effectively CrossBet’s renamed corporate vehicle, owned by a separate CrossBet entity with shareholders that include members of the Cross family. Scott Cross and Harley Dalton, linked to Altor Capital, are listed as directors—leaving some uncertainty around ultimate control as PlayUp customers are shifted across.
What this means for everyday players
For most customers, the big question is simple: “Will my money, my bonus, and my bets show up without drama?” The promise is yes—automatic migration with balances and pending bets intact—but downtime and app changes can still be a headache, especially if you’re trying to enter Draftstars contests or place wagers around late-February and early-March fixtures. If you’re active during that window, it’s the kind of week where you double-check markets early and keep receipts (screenshots, confirmation emails, bet IDs) just in case support needs specifics later.
