Best Betting Deposit Options in India
Many online bookmakers now cater for Indian-based customers, with an increasing number also accepting deposits in Rupees. Whether you are looking to place bets on cricket, soccer, tennis or other markets, it is hugely important to ensure that the betting site in which you register with offers a method of depositing that suits your needs. However, with many sites not offering any form of guide when it comes to depositing funds for Indian punters, our experts have put together a piece on the best methods to use.
How to Deposit Money in India with an Online Bookmaker
There are now a number of options available to India based customers when it comes to depositing funds online, which include major credit and debit cards, e-wallets and bank transfers. However, it is e-wallets that are the best option for Indian punters in our opinion, due to their ease of use and convenience. E-wallets are available when it comes to both deposits and withdrawals, with transactions being processed quickly at all times. Perhaps the only negative factor is that setting up an e-wallet account takes a little bit of time, however once this process is complete, it will save a significant amount of effort in the future. E-wallets include platforms such as Neteller and Skrill, with both being accepted by most betting sites today.
Meanwhile, credit and debit cards are the most popular method of depositing on betting sites, however there are certain restrictions in India, making this option unreliable in many cases. Deposits can be accepted using a credit or debit card once, but not the next time. This is just one reason as to why we recommend e-wallets, with credit and debit card transactions generally taking longer too. Bank wire is also an option for Indian customers, however these are generally reserved for professional punters and high-rollers. There is no clear benefits to using bank wires either, as they are also very unreliable due to restrictions in India.
How E-Wallets Work
E-wallets such as PayPal, Neteller and Skrill have become hugely popular, with many having been established around the turn of the millennium. Such platforms allow users to transfer money in a variety of currencies, including INR. E-wallets being about a range of benefits, including promotions, VIP schemes and secure transfers. E-wallets offer provisions for customers to fund their bookmaker account at all times, with the majority of betting sites now providing the option to use such platforms. Let’s take a closer look at the main advantages to depositing using an e-wallet.
- Easy to Fund – Those using e-wallets have a range of options when it comes to funding their accounts, including credit cards, bank transfers and e-checks. As a result, betting customers in India, especially those who regularly have trouble depositing funds online, should certainly consider using e-wallets when placing bets online.
- Reliable – E-wallets provide an excellent alternative to credit and debit card deposits, with platforms including Skrill and Neteller being hugely reliable too. Their sites are available 24 hours a day, with the majority of transactions being processed instantly, meaning that funds can quickly be transferred to betting sites.
- Privacy – E-wallets also provide a certain level of privacy when operating online, with all transaction history being displayed and no personal details being shared with third parties.
- Multiple Bookmakers – Some betting customers now take advantage of a wide range of betting sites, with the majority now accepting deposits from e-wallets. As a result, punters can quickly transfer money into their account at all times, onto a number of different platforms, allowing them to take advantage of the best odds around.
Pre-Paid Debit Cards
This method of depositing is often overlooked, however pre-paid debit cards are an excellent option for Indian customers not wishing to use e-wallets. This form of depositing is hugely convenient and efficient, with users having to purchase pre-paid cards and load them with funds before depositing. Once this process has been completed, pre-paid debit cards work in a similar way to credit and debit cards.
Other Available Methods of Depositing
There are a small number of additional deposit methods available to Indian-based customers, which include the following:
Debit Cards – A large amount of debit cards are accepted by bookmakers today, with many providing instant access to funds. Money in this area is also 100% protected, with customers having to verify their details each and every time a deposit is processed. Debit cards also allow users to easily keep track of their spending, while some betting sites offer bonuses and free bets for those who store their debit card on their platform.
Be aware that banks in India are still fairly conservative when it comes to working with online betting sites, with there still being inconsistencies when it comes to both state and national laws in this area. As a result, it can be difficult to deposit money directly to a betting site, with banks regularly declining such transactions. Whilst they may work on some occasions, they are very unreliable, making the entire process frustrating.
Bank Wire – Wire transfers involve moving funds electronically from a customers account to an online bookmaker, with this form of depositing being relatively quick also. In order to process a wire transfer, punters must inform their bank of their desire to deposit funds, specifying the total amount in the process. A BIC and IBAN code is also required in order to complete transfers, which can take between 24 hours and 5 days. The main negative of this form of depositing is the time taken for each transaction, while there are sometimes additional costs involved.
Bitcoin – Bitcoin has become increasingly popular over recent times, however very few betting sites accept this form of payment when it comes to depositing online.
Betting Using Indian Rupees
While only a small number of bookmakers accept Indian Rupees as a valid form of currency on their websites, this is preferable for most customers. Using INR is easy, while it also means that there are no frustrating exchange fees. Such exchange rates are one of the biggest reasons as to why punters should look for a platform which accepts Rupees. The main benefits of using Indian Rupees when betting online are:
- Easier to know the value of bets by using native currency.
- Avoid exchange fees that come from using other currencies.
At Sportsbetting24.in we have prepared a detailed list of the most important betting sites in India, and rated them for your convenience, according to their services, quality, offers, pay methods admitted and of course explaining which ones do take Indian Rupees, and which ones not, you can check them below.
Now you can easily choose the one that suits most your particular needs with one click.
Indian Betting Sites Depositing FAQ’s
The following are answers to some of the most commonly asked questions surrounding depositing on betting sites in India, helping those new to this pastime gain a greater understanding of the options available to them and how everything works.
Which deposit method is the best for me?
This question will be different for each customer, with credit cards, debit cards, e-wallets and pre-paid cards all coming with advantages and disadvantages. As a result, punters should take a look at all of the pros and cons surrounding such deposit methods, before making a decision based on their wants and needs.
How long does it take for money to be transferred?
The time taken for deposits to be completed will depend on the method selected by the customer, with e-wallets taking just a matter of hours on the whole, while other options will take between 24 hours and 5 business days in general.
Can I deposit using my Indian mobile wallet?
Unfortunately not. Betting sites do not accept mobile money at present, however this may be something that is introduced in the future.