Withdrawals and account closure

This page explains how to withdraw funds and how to close an account with Palmer Bookmaking Pty Ltd. It supplements, and should be read with, the Terms of service.

Withdrawing funds

Withdrawals are paid to a verified payment method held in the account holder’s own name.
Identity verification under the AML/CTF Act 2006 (Cth) must be complete before a withdrawal is released.
Withdrawal requests are subject to payment screening and AML/CTF checks and are processed on standard business-day banking schedules.
No withdrawal fee is charged by palmerbat. Your own bank or payment provider may apply its own fees.

Processing times

Processing times vary by payment instrument and by the time of submission. Requests submitted outside business hours, or that trigger additional verification, may take longer. We will tell you if further information is required to release a withdrawal.

Withdrawal limits and thresholds

Standard withdrawals are processed without a withdrawal fee. palmerbat may apply minimum and maximum withdrawal amounts per transaction and per period, and large withdrawals above internal thresholds may be released in instalments or after enhanced verification, for AML/CTF and payment-security reasons. Applicable thresholds are disclosed at the time of the request.

Source-of-funds enquiries

As part of our obligations under the AML/CTF Act 2006 (Cth), palmerbat may ask you to verify the source of your funds or source of wealth before a deposit is accepted or a withdrawal is released. This may include requesting documentation such as bank statements or payslips. A withdrawal may be held until a source-of-funds enquiry is satisfactorily resolved. See our AML and CTF policy.

Failed withdrawals and back-up payment method

Where a withdrawal cannot be completed to your nominated method (for example, a closed or invalid account), the funds are returned to your palmerbat account balance and you will be asked to nominate a valid alternative payment method held in your own name. palmerbat does not pay withdrawals to third-party accounts.

Withdrawal cancellation and reversal

You may cancel a pending withdrawal that has not yet been processed; the amount is returned to your account balance and becomes available for wagering. palmerbat does not offer automatic “reverse withdrawal” features that re-credit a processed withdrawal for further gambling, consistent with responsible-gambling expectations under the National Consumer Protection Framework.

Tax

Wagering winnings are generally not subject to Australian income tax for recreational customers, and palmerbat does not withhold tax from recreational winnings. Where withholding is required by law in particular circumstances, it will be applied and disclosed. palmerbat does not provide tax advice; seek independent advice for your circumstances.

Protection of customer funds

Under the conditions of palmerbat’s Racing NSW bookmaker licence, customer funds are held in trust and segregated from the operator’s general operating funds. Segregated funds are not used for operational expenditure.

Closing your account

You may close your account at any time by written request through support@palmerbat.com or the channels on our Contact page. On closure, any verified balance, net of pending wagers and lawful deductions, is returned to you through a verified withdrawal method in your name.

Record keeping after closure

After closure, palmerbat retains transaction, identity and account records for the periods required by the AML/CTF Act 2006 (Cth) (a minimum of seven years), the Racing NSW bookmaker licence conditions, and other applicable laws.

Inactive and dormant accounts — NSW unclaimed money

An account with no customer-initiated login and no wagering activity for twelve (12) continuous months is treated as inactive. We will use the contact details on file to notify you before applying any dormancy treatment. Where a balance remains unclaimed and cannot be returned to you, it is dealt with in accordance with the Unclaimed Money Act 1995 (NSW), applicable unclaimed-money legislation, and the Racing NSW bookmaker licence conditions. You may reclaim money paid to the relevant authority by following the statutory process.

Australian Consumer Law

Nothing on this page excludes, restricts or modifies any consumer guarantee, right or remedy conferred by the Australian Consumer Law that cannot lawfully be excluded, restricted or modified.

Related sections

Effective date

Effective: 29 May 2026. Version 1.0.

Operated by Palmer Bookmaking Pty Ltd (ABN 89 154 794 411). Sports Bookmaker Licence 5521/2023/WB granted by the Racing New South Wales. Principal place of business: c/- Canterbury Raceway, 98 King Street, CANTERBURY NSW 2193. Contact: support@palmerbat.com.