The Best Banking Methods for Betting Sites in India

Using online betting payment methods

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Want to know the best banking methods for betting sites in India? You’re in right place.

Our experts discuss which payment method to select based on your requirements. Then you can explore the best cricket betting sites that accept them.

Popular Online Banking Methods for Betting in India

Betting Sites Accept Many Banking Methods

With so many different banking methods available, it can be tricky to know which one to use for online betting sites in India.

Traditional options such as credit or debit cards are still popular and are accepted everywhere. However, there are a host of other choices for players who prefer alternatives such as e-wallets and prepaid cards.

Below we look at some of the options that can be used with our top-rated cricket betting sites. Read on to find out more.

Deposit and Withdrawal Times Can Vary

One factor to consider when choosing a banking method is how long it takes to deposit and withdraw money to and from your online betting site.

In the table below, we highlight popular banking methods and the time it takes to put money from them into your betting account (deposit) and the time it takes to return winnings in the opposite direction (withdraw).

Payment Method Deposit Time Withdrawal Time
Debit Card Instant 1-3 days
Credit Card Instant 1-3 days
Prepaid Cards Instant N/A
Skrill Instant Instant
Neteller Instant Instant
Bank Transfer 1-3 days 3-5 days
Cryptocurrency up to 30mins 1-7 days

The Best Payment Methods for Online Betting in India

E-wallets such as Skrill, Neteller, MuchBetter and ecoPayz are popular for online betting.

You can transfer money to these online wallets and then use them to fund your online betting site account while adding an extra layer of security and flexibility.

Skrill is a Great Choice for Online Betting

As one of the leading e-wallet solutions, Skrill is a great choice for cricket betting sites. Players can get fast deposits and withdrawals from their accounts, giving you flexible access to your funds.

There’s no need to link your bank account directly to your betting site of choice, which is an extra security layer for online bettors. What’s more, you can even use your Skrill balance to pay for goods and services online with other retailers.

More Options with Neteller

Another popular e-wallet option is Neteller. Players can sign up for an account and fund it in multiple ways, including from a credit or debit card or their local bank.

As a money transfer operator aimed at the gaming industry, customers with Neteller India can get access to their funds quickly and easily. Deposits are made instantly while withdrawals can be processed in just a few minutes in some instances.

Timescales can vary between bookmakers. However, they are usually much faster than traditional payment methods such as credit or debit cards.

Prepaid Cards – Bet Without Linking a Bank Account

Another option for customers using online betting sites in India is prepaid cards. Solutions such as AstroPay are a great choice. They allow a player to purchase a card of a pre-set amount and use their balance for deposits based on a unique code.

Depending on which type you choose, prepaid cards can be bought in person or online. It’s only possible to use the same amount of money that has been credited to the card and not any more than that.

The number of prepaid cards accepted by bookmakers has increased dramatically in recent years.

Paysafecard and AstroPay are all accepted by several online betting sites. It also means your bank account doesn’t need to be linked to the betting site. ecoPayz also offers a pre-paid card option alongside their e-wallet.

Because prepaid cards are a type of voucher, bettors will need an alternative digital payment method to withdraw any funds from their betting account. An e-wallet such as Skrill or Neteller can be useful here.

Debit and Credit Cards for Betting in India

Debit cards have always been a popular online payment method for those using the wide choice of  Indian betting sites on offer.

Most bank accounts come with a debit card. This means players can access their cash instantly via an ATM or pay for goods and services either in person or online.

The amount that can be spent is directly linked to the funds present in the account or any arranged overdraft facility.

Another option is the use of a credit card as a payment method for their online betting site. Lenders will designate an amount that can be borrowed (i.e credit) and this will be paid back in the future with interest.

Unlike debit cards, credit cards aren’t linked to a bank account. They work in a similar way as far as betting sites are concerned though. Players can enter their details and they’re stored securely for when deposits and withdrawals are made.

However, betting with these funds isn’t advised. Gambling should always be done in a responsible manner with money that players can afford to risk. If you feel there is an issue in this area, visit resources such as BeGambleAware for more information.

Bank Transfer – Move Money Directly to Betting Sites

Online betting sites in India usually offer the option of a direct bank transfer. Customers can make deposits and withdraw funds between their bank account and that of their bookmaker.

Using this payment method can be a time-consuming one. Online betting sites welcome bank transfers but they can take time compared to other payment methods. That isn’t ideal if you’re looking to place a wager in the near future as it’s unlikely that the money will arrive in time.

Some transactions can take several days to complete because it is a somewhat manual process to match payments to a customer account.

Cryptocurrency – A New Type of Betting Payment Method

Some betting sites in India now accept deposits in cryptocurrency such as Bitcoin.

Typically, these transactions don’t incur any fees and are processed in a few seconds. Because there’s no need to link a particular bank account to your betting site, this reduces the chance of identity theft and unauthorised access.

That’s an attractive option for those who want to bet on cricket in India and want extra assurances about safety and security.

Betting with cryptocurrency also requires extra work to convert it back into traditional currency such as Indian rupees. This usually means having another online wallet with a third party.

There is also the issue of volatility in the market. Unlike traditional currencies, the likes of Bitcoin can be subject to huge swings in value in a short space of time. As such, using cryptocurrency for betting sites brings a different set of considerations for customers.

Choosing the Best Betting Site for your Payment Method

It is important to make sure your chosen online payment method in India is accepted by your bookmaker.

Once you have taken a look over our individual payment method pages, you can also look to sign up with an Indian betting site if you haven’t done so already.

Top 5 Betting Sites with Great Payment Methods in India


New Customers Only | 18+ | T&Cs apply

Bonus Terms

  • 5x wagering requirement on bonus funds,
  • Accumulator bets with odds of 1.40 or more will count.
  • Minimum deposit is ₹75.
  • Bonus is active for 30 days.
  • Cryptocurrency deposits are excluded.

New Customers Only | 18+ | T&Cs apply

Bonus Terms

  • Bonus is subject to 5x wagering requirements.
  • Accumulators of 3 or more legs and at odds of at least 1.40 will count.
  • Minimum deposit of ₹1.
  • Bonus is valid for 7 days.

New Customers Only | 18+ | T&Cs apply

Bonus Terms:

  • Bonus needs to be wagered 9x.
  • Minimum odds of 2.00 for singles or 1.40 on each selection in multiples.
  • ₹1000 minimum deposit.
  • Bonus is active for 14 days.
  • Deposits with Neteller, Skrill and paysafecard are excluded.

 


New Customers Only | 18+ | T&Cs apply

Bonus Terms

  • 12x wagering requirement on bonus and first deposit.
  • Bets at odds of 1.60 or more will count.
  • Minimum deposit of ₹1000.
  • Bonus expires after 90 days.
  • Free spins expire after 7 days once claimed.
  • No wagering requirement on any free spin winnings.

Open an account with bet365 today and bet on a huge range of markets with the world’s favourite online sports betting company. 18+. Full terms and conditions apply. https://Begambleaware.org. https://www.gamblingtherapy.org/

Bonus Terms

  • 12x rollover requirement on initial deposit.
  • Bets at odds of 1.20 or more will contribute.
  • Minimum deposit of ₹400.
  • Bets must settle within 30 days.
  • Bet Credit stakes not included in any returns.

What to Look for with the Best Online Banking Methods

It’s important to know what to look for when you are deciding which betting payment method to use for online betting.

Here are just a few things to consider when making your choice:

  • Adding funds – How easy is it to deposit from your bank to your payment method?
  • Currency choices – What currency options do you have with your banking method?
  • Betting deposit time – Time needed to deposit funds to your betting account?
  • Withdrawal time – How long to withdraw money from the banking method?
  • Cost – What fees are you charged for deposits and withdrawals?
  • Accepted widely – Which betting sites use your banking method?
  • Offers – Are any welcome offers excluded for your payment method of choice?
  • Security – How safe is each payment method?
  • Mobile compatible – Can you access the banking method with your phone?

Use Online Cricket Betting Sites in Indian Rupees

One advantage of choosing the right betting payment method and the best online betting site is that you should have the option to make deposits and withdrawals in Indian rupees.

This way, Indian customers can avoid currency fees when converting to US Dollars, Euros or British Pounds. The good news is that there are plenty of bookmakers that welcome players from India and that INR betting sites are on the rise.

Indeed, many offer specific welcome bonuses and free bets in rupees. This is a great sign for betting in India moving forwards.

PayPal – Not an Option for Most Indian Betting Sites

Although a popular option for bettors around the world, at the moment PayPal isn’t widely available as a payment method with online betting sites who accept Indian customers.

Previously, transfers were only allowed internationally which saw players use other options.

In 2017, PayPal launched domestic payments in India but there were issues for customers on being able to add and hold money in their accounts.

With this in mind, it’s no surprise that PayPal is not yet an option for deposits and withdrawals at online betting sites in the country. Other electronic wallets such as Skrill, Neteller, and MuchBetter have emerged as the best options for cricket betting sites in India.

Are Online Banking Methods Safe?

Many different banking methods offer a wide range of security measures to keep your details and cash safe online.

Here are just a few of the features they use to make sure you don’t have to worry when using betting sites in India.

  • Authentication – Multiple procedures such as pin numbers, passwords and face recognition all increase security.
  • Automatic logout – Many banking will log you out after a period of inactivity.
  • Anti-virus protection – Programmes to help detect viruses and malicious software.
  • Firewalls – Blocking unauthorized access.
  • Secure encryption – SSL encryption creates a secure connection when giving sensitive information.

Banking Methods for Betting Sites – Summary

As you can see, there is a wide range of different banking methods to choose from when betting online from India.

Whether it is using popular e-wallets such as Skrill and Neteller India, traditional debit or credit cards, or new methods like cryptocurrency, there should be something to suit your needs.

It is also important you pick the best betting payment method to suit your chosen cricket betting site. Making sure your online betting site accepts a certain banking method and that the process is convenient and easy is also vital.

Banking Methods - Frequently Asked Questions

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What’s the best banking method for betting sites in India?

In India, it’s a good option to use an e-wallet solution such as Skrill or Neteller.

These payment methods offer an extra layer of protection as they don’t require a direct link between your bank account and any betting sites.

How can I withdraw money after gambling in India?

The best way is to use an e-wallet to deposit funds once you have signed up to an online betting site in India. You can then use the same banking method to withdraw any winnings

Do betting sites charge fees for deposits and withdrawals?

In our experience, online betting sites don’t charge any fees for deposits and withdrawals regardless of which payment method is used.

There is a chance that some charges could be applied by your bank to process transactions.

How long does it take to deposit to a betting site?

The vast majority of payment methods see deposits processed instantly. Betting sites will credit your account almost immediately in most cases.

Can I use PayPal with online betting sites in India?