The following is an in-depth review of the bookmaker Palmerbet. This review covers the history, features, interface, sports & racing markets, upsides and downsides of the service.
This review is part of our comprehensive Bookmaker Reviews section. The Betting Agencies page provides information and reviews for other sports betting agencies that are suitable for Australians. The following details are updated periodically to keep them up to date.
History, Location and Licence
Palmerbet is an Australian owned and NSW licensed bookmaker. They operate out of an office at Canterbury Racecourse in New South Wales. They also operate oncourse on all Sydney Metropolitan races located on the Rails. The Palmer family has been associated with betting in Sydney for over 30 years, however they are a new entrant to online wagering, with Palmerbet.com launched in August 2013. Their website is designed by the same firm that created the Luxbet interface.
Services and Features
|New member offers||There are currently three offers available, depending on the link you use. These offers exclude NSW, VIC, SA & WA residents.
100% First Deposit Bonus Bets up to $500
The bonus bets can be wagered on fixed odds markets at a odds above 1.40. Prior to withdrawing any funds the initial deposit and any bonus bet winnings must be turned over at least twice on WIN bets with odds greater than 1.80. This must be achieved within 90 days. Multibets will not count towards turnover unless all legs are 1.80 odds or greater.
From our experience, after you sign up you will be presented with a deposit page. We clicked on the ‘Skip this step’ button to be taken to the site’s main page. From there we selected Account -> Redeem Promo to input the code prior to making a deposit.
|Deposit options||Visa, MasterCard, bank transfer, BPAY, POLi 2|
|Withdrawal options||Bank transfer|
|Transaction fees||None that we’re aware of for Australian residents. International bank transfer withdrawals will incur a $15 fee for a withdrawal amount less than $100.|
|Minimum deposit||Credit Card: $10, POLi: $10, BPay: $25, EFT/Bank deposit: check with your bank|
|Minimum bet||$1.00 online, $10.00 by phone. Wagers can only be made in $0.50 increments.|
|Maximum payout||The maximum net winning paid out on Best TOTE + SP is $30,000. For the ‘Best of the Best’ racing product, the maximum bet is $250 per runner. Palmerbet pays the dividend and winning combinations to a maximum of $100,000 on Australian metropolitan thoroughbred races, whilst a total maximum payout per race of $50,000 applies to non-metropolitan thoroughbred races. Palmerbet pays the dividend and winning combinations to a total maximum payout of $25,000 on all Australian harness and greyhound races.
To the best of our knowledge there are no specified maximum bet amounts for sports betting.
|Deposit turnover requirements||1x|
|Bonus credit turnover requirements||2x at odds of 1.80 or higher|
|Bookmaker margin||5.5%, which is above the median bookmaker margin of 5.2% in the latest bookmaker margin survey. From a punter’s perspective, the lower the margin, the better.|
|Quantity of markets||Averaged 67 markets per fixture in the latest bookmaker markets survey. This is above the median score of 61.|
|Credit facilities||Members may apply for credit|
|Forbidden Jurisdictions||Not specified|
|Mobile betting||A mobile version of the website is available along with Android and iOS Apps|
|Identity checks||Australian residents can verify their identity online by entering details from sources such as a driver’s license, Australian passport, Medicare card, tax file number, etc. Alternatively, you can send in certified copies of proof of ID.|
|Dormant account fees||None that we’re aware of|
Betting Interface and Website Layout
Palmerbet employs the familiar three-column layout, with sports listed on the left, odds in the centre and the betting slip on the right.
The sports are listed within a dynamic drop down menu. Palmerbet doesn’t make use of subcategories within subcategories (i.e. Football -> England -> Premier League..), which means no league is more than two clicks away.
The odds in the centre column are concisely displayed, which removes the need for unnecessary scrolling through a list of fixtures. Where applicable, a ‘Show All’ link is provided to display all markets for a particular fixture.
Palmerbet offers a Quick Multis section, which enables you to create quick multi bets using popular upcoming events.
Betting selections are dynamically loaded into the betting slip, with a page flicker occurring each time you add something. Multi betting functionality is embedded within the slip, however you can’t choose which selections to include or exclude within the multi (by default they are all included). The betting slip also doesn’t cater for exotic multis like Trixies and Patents. A nice feature of the betting slip is it provides a link to your pending bets, with a number indicating how many pending bets you have.
Apart from the lack of exotic multi betting functionality within the betting slip, the interface is excellent. The simple sports menu and concise odds display make finding the appropriate odds quick and easy.
Palmerbet offers a broad selection of sports, from AFL & the NRL to the popular US codes, various football leagues, golf, motor racing, surfing, tennis and more. Most markets for weekend fixtures come online on Tuesday, which is slightly slower than average.
Palmerbet offers a strong range of race betting products, including:
- Win/place fixed
- Best of the Best – guarantees the highest dividend of the on course bookmakers Top Flucuation and the Best Tote Dividends. Available on all Saturday Metropolitan meetings and betting is available up to 30 minutes prior to each race with a maximum bet per runner of $250.
- Best Tote (Win/Place) – guarantees a win/place dividend equal to the highest win/place dividend of all 3 Australian totalisers.
- Best Of Two (Win/Place) – guarantees a win dividend equal to the highest Win dividend of the NSW and SUPERTAB totalisers.
- Tote + 5% (Win/Place) – will be paid as the dividend from the SUPERTAB tote plus the nominated percentage bonus based on the Winning portion of the bet.
- Top Fluc – pays the best price bet by the on coarse bookmakers for the meeting you are betting on. The price is determined by the Australian Pricing Network (APN). Note Top Fluc bets may be subject to deductions if there is a scratching.
- Best Tote + SP – guarantees a win dividend equal to the highest Win dividend of all 3 Australian totalisers + the on course bookmakers Starting Price (SP) as declared by official APN. Best Tote + SP is available on select horse races.
- Middle Tote (Win/Place) – guarantees a win dividend equal to the 2nd highest Win dividend of all 3 Australian totalisers.
- Tote + 10% (Win/Place) – will be paid as the dividend from the SUPERTAB tote plus the nominated percentage bonus based on the Winning portion of the bet.
Exotics include Quinellas, Exactas, Trifectas and Quadrellas. These pay the dividend declared by the SUPERTAB. Flexibetting is supported for exotics.
Form guides can be accessed by clicking on a runner.
Live Sports Betting
Due to Australia’s Interactive Gambling Act 1, live online betting is not available. Australian customers must phone in to bet live. If live online sports betting is what you’re after, be sure to check out our survey of betting agencies that offer live online betting.
- Good selection of deposit options, including POLi 2
- Easy sign up and verification process
- Fast navigation and concise odds display
- Harsher turnover requirements on bonus bets than Australian rivals
- No live online betting (due to Australian law) 1
- Funds can only be wagered in $0.50 increments (i.e. $2.50 not $2.40)
- Withdrawals can only be whole dollar amounts (i.e. $100 not $100.15)
- Exotic multi betting not supported
- Higher than average bookmaker margins
Palmerbet is a promising new Australian entrant to online sports betting. The Palmer family has a long history in the racing scene in Sydney and the Palmerbet website is top draw. While the range of markets per event isn’t as broad as the largest bookmakers, the selection will meet the needs of most punters. The interface is very well designed, providing quick and easy access to sporting markets. Our only gripe with the interface is that exotic multiples aren’t supported in the betting slip. Another drawback is the arbitrary restriction that bet stakes must be in $0.50 increments. Apart from that, we’re excited by what we see. Palmerbet is definitely worth checking out.
Notes and Sources
- 1 http://en.wikipedia.org/wiki/Interactive_Gambling_Act
- 2 POLi facilitates online bank transfers that are acknowledged by the bookmaker instantly. This enables you to log into your banking provider, transfer money to the bookmaker, and place bets immediately.