Online Betting Payment Methods in India

Indian bettors have a wide selection of payment methods to choose from as most of the sports betting websites catering to the Indian market have tied up with all of the popular payment providers in India. This makes it very easy for players to process their deposits and withdrawals.

The team at BettingGuru has classified the different payment methods on offer into different categories to make it easy for you to quickly access which mode of payment you prefer to work with. We will take a look at all the different options available under each payment category.

BettingGuru has categorised the payment methods into the following:

Each mode of payment has their own set of pros and cons and it will be up to you to review them and decides what works best for your style of play.

Debit and Credit Cards

Debit and credit cards are right up there with the most popular forms of payment in India. Millions of Indians have access to both debit and credit cards, which make it easy for them to use this mode to deposit at online sportsbooks and casinos.

They are also extremely easy to link to your sportsbook account. All you have to do is login to your account, click on banking options and select the debit and credit card option. You will have to enter your card details, the CVC number and the one time password (OTP) to successfully link your card to your bank account. Once done, you can make a deposit and your card will be automatically debited.

This is one of the safest modes of payment for Indian bettors as they will immediately get notified when there is a withdrawal from their card. The OTP feature also provides additional security.

We give you a brief overview of the time frames and minimum deposits that are usually imposed on debit and credit card transactions. Do note that this is determined by each sports betting site and what we have highlighted is what most betting sites follow.

Deposit time: Instant
Transfer fee: Nil
Minimum deposit: 500 rupees
Maximum deposit: Between 10,000 to 50,000 rupees

Pros

  • Safe and secure
  • Instant deposits
  • No transaction charge

Cons

  • Have to share personal and financial info

How Do e-Wallets Work

When it comes to convenience and fast processing times, e-Wallets are probably the way to go. There are a number of different e-wallets that Indian players can choose from and these include PayPal, Paytm, Skrill, Neteller and ecoPayz.

If you do not have an account with an e-wallet, then you will have to create an account and link your credit or debit card or bank account to make a deposit into your e-wallet account. The process to create a new e-wallet account and link a payment method should not take more than 5 minutes. Once done, you can make a deposit into your e-wallet.

Next, login to your sportsbook account and click on the My Account section. Select banking options and click on the e-wallet provider that you have an account with. You will have to login to your e-wallet and follow the instructions to link your e-wallet to your sportsbook account. Once done, you are ready to make a deposit directly from the e-wallet into your account. Do note that the linking process is a one-time process as the next time you want to make a deposit, it will be directly debited from your e-wallet account.

PayPal

PayPal has been around for over a decade in India and is widely used throughout the country. Indian bettors like to use PayPal for its convenience and safety. The only issue with PayPal is that the transaction fees are rather high and PayPal also deducts GST before crediting any winnings to your account. However, most Indian bettors prefer incurring these fees and using PayPal rather than divulging their credit card or bank info. The PayPal mobile app also makes it easy for users to keep track of their PayPal transactions.

Deposit time: Instant
Transfer fee: Nil
Minimum deposit: 500 to 1,000 rupees
Maximum deposit: 10,000 to 50,000 rupees

Pros

  • Easy to use
  • Instant deposits
  • Secure platform
  • Mobile app

Cons

  • High transaction fees for withdrawals
  • GST deducted

Paytm

Paytm has not been around as long as PayPal but it is definitely more popular in India because Paytm is an Indian company. Paytm has focused heavily on advertising on television and sponsoring cricket matches which are watched by millions of people throughout India to help build its brand an expand its outreach.

The company has done a great job in building its brand image especially in rural areas. This has led to more betting sites starting to accept Paytm in India. They have also developed and released a Paytm app that allows people to process their transactions from their mobile phones. Paytm is very safe to use as the company has used the latest technology to protect customer accounts.

Deposit time: Instant
Transfer fee: Nil
Minimum deposit: 100 rupees
Maximum deposit: 5,000 rupees

Pros

  • Massive user base in India
  • Mobile app
  • Indian provider

Cons

  • Strict limits on deposits and withdrawals

Neteller

Neteller has become quite popular in India during the past 5 years and its subscriber base continues to grow with every passing year. Neteller is similar to PayPal in terms of how it operates and how easy it is to use. Neteller also has a mobile app for Android users which makes it easy for them to process their transactions from their smartphones. It’s brand reputation and safety features, make it one of the most trusted e-wallets in the Indian market.

Deposit time: Instant
Transfer fee: Nil
Minimum deposit: 350 rupees
Maximum deposit: 22,500 rupees

Pros

  • Easy to use
  • Mobile app
  • Growing subscriber base

Cons

  • Strict deposit limits

Skrill

When it comes to choosing the best e-wallets in India, Skrill is definitely within the top 5. It is very simple to create a Skrill account and activate it in a matter of minutes. Skrill also has a dedicated mobile app for Android users that allow them to keep track of their transactions and send money from their smartphones. Skrill is looking at expanding its customer base in India and compete with the other big names in the payment industry.

Deposit time: Instant
Transfer fee: Nil
Minimum deposit: Nil
Maximum deposit: 70,000 rupees

Pros

  • Mobile app
  • Easy to use
  • No min deposit

Cons

  • Less number of Indian users

EcoPayz

ecoPayz is definitely not as popular as paytm, Neteller or PayPal as these providers have a bigger brand presence and reach in the Indian market. ecoPayz is however taking steps to grow in India and compete with some of the bigger payment providers.  There is a dedicated ecoPayz mobile app for both Apple and Android users. ecoPayz charges money transfer fees and conversion fees.

Deposit time: Instant
Transfer fee: Nil
Minimum deposit: 5 account levels – limits vary for each level
Maximum deposit: 5 account levels – limits vary for each level

Pros

  • Mobile App
  • Instant deposits
  • Easy to use

Cons

  • 5 different account levels
  • Different charges for different levels

How Do Bank Transfers Work

Bank transfers are very popular in India because they are carried out by millions of Indians on a daily basis. The term net banking is used in India to refer to bank transfers. They are convenient because they can be initiated by the user at any time. To use the bank transfer option, players will need to have a bank account and a net banking login ID and password.

Players will have to login to their sportsbook, go to the My Account section and select banking options. They will then have to choose bank transfer and see if their bank is listed in the drop down list of banking providers. Choose your bank and then you will have to login with your net banking ID and password. Choose the amount you want to deposit and click proceed. You will see this amount credited to your sportsbook account.

Deposit time: 24 to 48 working hours
Transfer fee: Nil
Minimum deposit: 100 rupees
Maximum deposit: 25,000 to 100,000 rupees

Pros

  • Net banking App
  • Easy to use

Cons

  • Must check if sportsbook accepts your bank
  • Deposits take time to process

Pay By Mobile

The pay by mobile concept is slowly gaining popularity in India and is used by a small group of users. This is because most Indians have grown accustomed to using net banking and e-wallets to process transactions online. However, with the popularity of mobile banking growing and the speed of mobile internet increasing, more users are embracing pay by mobile.

Players will be able to set up popular mobile payment apps like Apple Pay and Google pay which will allow them to process payments from their mobile phones. These payment apps are safe and secure as they are developed by some of the biggest tech developers in the world.

Apple Pay

Apple Pay is currently not in use in India because the company has to work through some challenges regarding authentication and data storage rules in India. If and when Apple Pay gets approved, it will still take time to grow in India because there is a limited group of iPhone users in India since the cost of Apple products are extremely high for the average Indian.

Deposit time: N/A
Transfer fee: N/A
Minimum deposit: N/A
Maximum deposit: N/A

Pros

  • Apple brand
  • Hi-tech security

Cons

  • Not available in India

Google Pay

The Google brand has made its way into rural India and hence Google Pay is popular with millions of Indians in both urban and rural areas. The brand, ease of use and seamless interface make it a very popular mobile payment app in the country. Google Pay is compatible with all banks that have BHIM UPI. Google Pay does not charge any fees when you make deposits with bank transfers or debit cards. If you use your credit card, be prepared to pay a fee of 2.9 percent.

Deposit time: Immediate
Transfer fee: Nil
Minimum deposit: Nil
Maximum deposit: 100,000 rupees

Pros

  • Google brand
  • Hi-tech security
  • Instant processing
  • High max deposit

Cons

  • Charges on credit card deposits

How To Use Cryptocurrencies

There has been some confusion over cryptocurrencies in India as the government initially wanted to ban crypto businesses in the country but since then, the Supreme Court and the RBI have confirmed that cryptocurrencies are legal in India. The most popular cryptocurrency is Bitcoin and is used by many in India.

You will first have to create a crypto wallet and then purchase bitcoins or any other crypto like ethereum or litecoin or bitcoin cash from a crypto exchange. Once you have cryptocurrency in your crypto wallet, you can then login to your sportsbooks account, go to the My Account section and choose cryptocurrencies from the list of payment methods.

You then need to login to your crypto wallet and link it to your sportsbook account. Once done, you can make a crypto deposit directly into your sportsbook account.

Deposit time: Instant
Transfer fee: Nil
Minimum deposit: Depends on which cryptocurrency is used
Maximum deposit: Depends on which cryptocurrency is used

Pros

  • Highly confidential
  • Fast processing times

Cons

  • Volatile
  • Not widely accepted in India

How Do Prepaid Cards Work

Prepaid cards work similar to prepaid mobile sim cards and hence they are easy to understand and use. Players will have to first sign-up for a prepaid sim card, then make a deposit or top up the sim card and then they will be able to use this card to make payments. The prepaid amount gets reduced after each payment and players will be able to login to their accounts and mobile apps to keep track of their prepaid transactions and no when they are running short of funds, so they can top up their funds. Some of the popular prepaid cards include ecocard and Astropay.

EcoCard

The ecocard is a prepaid card that is issued by ecoPayz payment provider. To register for an ecocard, players will have to go to the ecoPayz website and put in a request for an ecocard. The registration process for an ecocard should not take you more than 5 minutes as you will have to enter your account and personal information. The ecocard is usually sent to your address in 5 to 10 working days. The ecocard is available in three different currencies – EUR, GBP,USD. There are four different levels for the ecocard and the higher the level, the better the benefits.

Deposit time: Immediate
Transfer fee: 2 percent
Minimum deposit: Nil
Maximum deposit: €1,000

Pros

  • From the ecoPayz brand
  • Available in three different currencies
  • Free card issuance and activation

Cons

  • Cash withdrawal processing fees
  • Currency conversion fees
  • Card replacement fee

AstroPay Card

The AstroPay card in India is a virtual prepaid card that is growing in popularity due to its ease of use. You will have to sign into the AstroPay India site and buy your prepaid card. It is free to register an AstroPay account and will not take you more than a couple of minutes. Once you buy your card, you will have to deposit funds into your prepaid account which can then be used at thousands of merchants all over India.

Deposit time: Instant
Transfer fee: Nil
Minimum deposit: 100 rupees
Maximum deposit: 70,000 to 100,000 rupees

Pros

  • Used widely throughout India
  • Easy to use and top up
  • Prepaid virtual card

Cons

  • No cash withdrawal

Withdrawal Payment Methods

Indian players should keep in mind that when they look at the different banking options or payment methods offered by a sportsbook, not all of those methods will work for withdrawals. The majority if not all payment providers listed will accept deposits. However, not all of them will accept withdrawals in India.

So it is important for Indian players to always check if their preferred payment method will allow them to withdraw funds. Players should also keep in mind that different payment providers have different withdrawal processing times. Some sportsbook give players a breakdown as to what payment providers are available for the Indian market and their processing times.

There are some sportsbooks that do not mention this information clearly. In this case, it is always advisable to get in touch with customer support and double check whether a particular payment option will allow withdrawals in India, what are their withdrawal processing times and are there any charges involved.

Withdrawal Methods Processing Times
eWallets: 24 working hours
Bank Transfer: 3 to 5 working days
Cryptocurrencies: Immediate

Frequently Asked Questions

  • Cryptocurrencies are the fastest option but not all sports betting sites in India offer cryptocurrency as a payment method. In this case, it is better to go with an e-wallet or pay by mobile as deposits will also be instant.

  • If you want to keep your identity anonymous and not reveal any personal or financial information, cryptocurrencies is the best option for you. Since few sportsbooks in India offer cryptocurrency options, the next best option will be to use an e-wallet.

  • The best payment method for online betting is the payment method that works best for you. If you have cryptocurrencies, try and find a crypto friendly sportsbook. If not, you can use an e-wallet as you do not have to enter your bank info or credit/debit card info directly.

  • This is a good question and the answer is based on how your sportsbook has chosen to display their trading name. Many sportsbooks prefer to use an official business handle so that no gambling related names or brands appear on the bank / card statement of their players.

  • In this case, you need to make one of two decisions. If you really like the sportsbook and what it has to offer, see if you can find an alternative banking option. If you cannot find another banking option, then you can look at BettingGuru’s list of featured sportsbooks and try and find another sportsbook that is similar to the sportsbook you liked and see if your preferred banking method is on offer there.

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