Betting Sites in India: Main Banking Methods Available
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 would prefer alternatives. Here’s a look at some of the possibilities from our top-rated cricket betting sites.
Debit Cards – The Traditional Choice for Online Betting Sites in India
Debit cards have always been a popular payment method for those using online betting sites. 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.
Popular types of debit card include Mastercard, Visa Debit, Visa Electron, Solo, and Maestro. Which one you have will depend upon your bank. Usually, they are all accepted by betting sites in India. It’s quick and simple to register your details and these can be held securely by the online bookmaker. You’ll still need to enter the three-digit security code on the back of your debit card in order to make a deposit though. This is another measure put in place to ensure that transactions are legitimate.
Although deposits by debit card are credited instantly to your betting account, withdrawing funds takes longer. It’s often between 1 and 3 working days before funds reach your bank.
Credit Cards – Remember to Bet Within Your Limits
Some players may choose to use credit cards 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.
When withdrawing money from an online betting site, players can only take out as much money as they have deposited previously. Any remaining funds would have to be withdrawn by a different payment method
Credit cards are a popular borrowing option around the world and have their advantages. Betting with these funds isn’t advised though. 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.
Prepaid Cards – Use Betting Sites Without Linking Your 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, AstroPay, and EcoPayz are all accepted by several online betting sites. They are certainly an interesting option. That’s because they offer the same basic functionality as debit cards as far as bookmakers are concerned. However, they don’t require a player to link their bank account to a betting site.
Because prepaid cards are a type of voucher, bettors will need an alternative payment method to withdraw any funds from their betting account. An e-wallet such as Skrill or Neteller can be useful here.