Depositing Money for Betting in India – Your Full Guide
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Highly-experienced sports expert and writer
Highly-experienced sports expert and writer
Sai Sharma began his career working for a local business as a customer service agent, but the seeds for his future plans were already blooming. In his spare time, Sai worked for a newspaper writing reviews of cricket matches involving nearby teams; initially just a hobby, he soon began to wonder if it might be possible to combine his love of writing and sports into a full-time career.
After retraining, Sai started writing professionally in 2015, building on his newspaper contracts and also starting to write copy for the web. During this period, he learnt the ins and outs of the sport betting world, and eventually turned his talents to writing betting guides as well as reporting on sports stories. Promoted to editor of a popular sports blog in 2018, he continued writing and honing his craft until 2020, when he joined Betastic as Editor-in-Chief. He now specialises in writing guides, news, and betting tips for the site, as well as commissioning and editing work from other writers.
While he has moved multiple times for work in the past, Sai now works from his home office in Chennai, and any time away from his desk is usually spent watching cricket and Premier League football.
There are many ways to deposit money into a betting site in India. From credit cards to bank transfers to even cryptocurrency, if you have the money, you can place a bet.
We will show you how to consider the pros and cons of the method you are going to use. All in all, it’s completely up to your personal preferences; you should use the method to deposit money into a betting site in India that you are the most comfortable with. Let’s look at the deposit methods for betting in India.
Charging Your Online Account – The Most Popular Methods
Visa & MasterCard
Visa is probably the most popular way to deposit money into a betting site in India. You just go to the site, enter your card information and how much money you want to put into your account, and you are good to go. MasterCard works mostly the same way that Visa does, with one exception – some places that issue MasterCards won’t allow them to be used on betting sites. Check out our list of the best betting sites with credit card in India.
Direct Wire Transfer For Deposits
This method for depositing money into a betting site in India is only recommended if you want to put in and then take out a great deal of money, as you will face fees on your deposit. The advantage of using a direct wire transfer for deposits is that you can send them as much money as you want and won’t be encumbered by the limits set by other methods you may want to use to deposit money into a betting site in India.
Neteller is a great way to make your deposit and get your withdrawal quickly, and EcoPayz works much like Neteller. Simply set up your credit card or bank account with your e-wallet and then put your money in through that. The problem with using e-wallets like Neteller or EcoPays to deposit money into a betting site in India is that you generally won’t be able to take advantage of the matching bonuses that casinos offer. You’ll need to read the fine print in the offers themselves, or in the terms of service, to ensure you can take advantage of the bonus. Check out our list of the best betting sites with Neteller in India and the best betting sites with EcoPayz in India.
Bitcoin & Other Crypto Currencies
Bitcoin and other cryptocurrencies are not accepted at most online casinos, but some do accept them – and then there are online casinos that only accept crypto. The problem is that crypto goes up and down in value every day, so you can never really be sure if the amount of money you deposit money into a betting site in India today is going to be the same amount you have tomorrow. So, Bitcoin and crypto can introduce an additional amount of risk into online gambling.
Typical Timescales for Deposits and Payouts
Visa & MasterCard
Because deposits to online casinos are seen as payments, the average time to deposit money into a betting site in India is going to be almost instant. Withdrawals, however, are another story. Even if the casino processes your withdrawal quickly, you will generally have to wait about five business days after they process that withdrawal before you get your money back onto your card balance. That’s a long time for some people, so it should be taken into consideration when deciding which payment method to use.
Direct Wire Transfer
It can take seven to 10 working days for your bank transfer to go through to your account, for both deposits and withdrawals. And your bank will charge you fees when you receive your withdrawal, so it is probably best to wait until your winnings reach a certain amount so you’re not hit with multiple fees.
Generally, when you withdraw your money to your e-wallet account you will receive the money as soon as the online gambling site releases it, which is as fast as a cashout can get. In our experience, you’ll get the money the next morning in the majority of cases. And when you deposit money into a betting site in India using an e-wallet it goes through almost instantly as well, so you can start playing right away. And this goes for almost all of the e-wallets that are popular with gamblers.
Bitcoin & Other Crypto Currencies
Cryptocurrencies are quite popular wherever they are accepted because your money is deposited and withdrawn immediately. And, many online casinos will give you a better welcome bonus if you use cryptocurrencies to deposit money into a betting site in India.
A Quick Look at Payment Method Verification Requirements
Visa & MasterCard
Betting site verification involves verifying identity, residence, and sometimes address when you first deposit money into a betting site in India. You will be asked to scan an ID, plus something that verifies your billing address.
Your credit card issuer can also ask you for verification whenever it determines that a transaction wasn’t made by you; many times, there is an additional screen that allows you to verify right away – either ‘Verified by Visa’ or ‘MasterCard Secure’. You should have this already set up with your issuer, so it’s just a matter of tapping a button and your transaction will go right through.
Bitcoin is an anonymous way of making payments, and that is no different when you deposit money into a betting site in India. So all the site will do is verify that an amount in Bitcoin has come from somewhere and credit it to your account. This is why you have to keep your Bitcoin as secure as possible; they are not tied to any given name, but to your wallet. In fact, so many people use cold wallets because you have to plug them into your machine for anyone to access your account information; it makes the process entirely secure.
You have a couple of choices when it comes to e-wallet verification upon your first deposit of money into a betting site in India. The first is fairly simple – when signing up for your account, you can simply link it to Facebook. Then the system will gather your personal information, verify who exactly you are, and you’re good to go. Some people find this a bit intrusive or may have a satirical Facebook account, so they will have to go through the typical verification process where they have to upload a photo of themselves and establish where they live. Either way is fine, and they will have end-to-end encryption so you should feel fairly safe.
To verify your payment with an online bookmaker with bank transfer, you will have to have your bank account information ready, and then it should be a snap to complete. You simply enter your name, your account number, and your IBAN. Your bank should do the rest and make the payment go through smoothly. The casino or bookmaker should not have to do anything to prove who you are, because your bank should take care of that for you. This is what makes making a wire transfer to a bank or casino so easy.
Editor’s Choice – The Best Operator for Fast Money Handling
We’d recommend Bitcoin if you want ultra-fast and anonymous payments. The main advantage of Bitcoin is that the transfer process should be instant, both for payments and for withdrawals. You can’t get faster than that! And Bitcoin’s other advantage is that it is anonymous. With any other form of payment, you leave behind a paper trail; businesses and governments can look at your Visa and MasterCard accounts and track all your wire transfers, and even your Neteller or Skrill account can be monitored. This is not the case with Bitcoin.
As online gambling grows in popularity, more ways to deposit money into a betting site in India are bound to pop up. What they will be and how they will work remain a mystery. But as long as there are online casinos people will come up with ways to pay them. In the UK, for example, there are private systems that allow some casinos to accept checks online. It’s even possible there will be a general company that simply processes all of the payments and withdrawals for all casinos. We don’t know exactly what we will get but we can be sure it will be new and exciting. And when it comes out, we will tell you about the new and exciting ways you can deposit money into a betting site in India. We’ll tell you all the new deposit methods for betting in India.
How Old Do I Have To Be To Gamble?
18 years of age is the minimum to gamble in India, and this is a strict rule. If the bookmaker or online casino catches you they may seize your account and you’ll lose all your money – and they may also contact local authorities. It’s simply not worth it.
Is There A Limit To How Much I Can Transfer?
There is usually a limit placed when you deposit money into a betting site in India, but this limit should be reasonable. The amount you can withdraw should have the same limits they put on any other withdrawal schedule. With bank transfers, though, there is rarely a limit. And with cryptocurrency, because the value of one crypto coin is so high, the limits will be high as well. You can check all payment limits in the sportsbooks or online bookmaker’s terms of service.
Do I Need To Use The Same Deposit And Withdraw Method?
In general, yes. There are a couple of casinos and bookmakers that will allow you to change your withdrawal method. But most will insist that you take your money out the same way you put it in. That’s because that method has already been verified when you deposited money into a betting site in India, and they know they can trust it. This protects you because it ensures someone else can’t sneak in and withdraw funds to their account instead of yours.
What Else Do I Need To Know?
If you are trying to figure out how to deposit money into a betting site in India, you are probably new to online gambling. That’s fine. We have a guide for people who have never placed a bet online before. It will teach you all about welcome bonuses, how to play different games, and what you need to know before you place your first bet. It will be your entry point to online gambling.
Conclusion – Lots of Choice With Some Clear Best Options
To deposit money into a betting site in India used to be difficult. Over the last couple of years, it has become far easier. There are many more options for you to choose from. The option you choose is going to depend on what’s most important to you.
Do you want to get your money quickly? Then Neteller or Skrill might be right for you. Do you instead want easy access to the welcome bonuses when you deposit money into a betting site in India? Then you might want to use Visa or MasterCard. Big spenders will probably find bank transfers more attractive as there are usually no limits for deposits or withdrawals. Cryptocurrency fans, meanwhile, enjoy the instant access to withdrawals and the anonymity of their transactions.
What’s important is that you know what your options are and choose the one that works best for you when you are ready to deposit money into a betting site in India, such as PayPal bookmakers.
Depositing Funds – Further Questions & Answers from Our Expert Panel
💰 What is the best way to deposit money into a betting site in India?
Whenever you are depositing money into a betting site in India, you will have a long list of different payment options. Your needs as a customer will determine which one of these methods is best for you. By and large an eWallet should give you the quickest payout but this is not always right for everyone. To learn more, check out our full guide to depositing money into a betting site in India.
✨Which site is best for betting in India?
Finding the best betting site in India is vitally important for even the least experienced of players. With so many different options available, selecting which operator you should be using can be difficult. This is where the team at Betastic.com India comes in. As long as you adhere to our list of recommended bookmakers, you will never be disappointed.
❓Are betting sites legal in India?
If you are just starting out on your sports betting journey, you are likely to have some concerns. Despite there being countless legitimate betting sites in India, there is still a stigma about the industry. However, as long as you stick to the fully licenced and legal brands that are recommended by Betastic India, you will always be safe. This way, you can also deposit money into a betting site In India without any issues.