Although local gambling is prohibited under the Public Gambling Act, there are no federal laws that restrict online gambling in India. As a result, there has been a shift over the last couple of years to online betting among Indians.
Now, while cash may be popular in local betting stores, Indian players need online payment solutions to fund their accounts. Here, we have listed some of the best payment solutions for players and where to get the best bonus offers.
The Best Payment Solutions available for Indian players
These are some of the top payment methods used by Indian players:
Debit and Credit Cards
Credit/debit cards remain the most prevalent payment option for online betting in India. These cards are supported by most online betting sites and offer a familiar and simple method to fund betting accounts. Players prefer Visa, Verve or Mastercard because they are accepted on most betting platforms.
They provide quick depositing but require player’s card details to make deposits. This may not be suitable for cautious players who prefer not to expose these details. Regardless, this shouldn’t be a problem for licensed betting sites that use bank-level encryption and authentication.
Bank Transfers
Bank transfers still remain a reliable method to fund betting accounts and receive payments. Players fund their accounts by transferring money to designated accounts provided by the betting site. Although they may not be the most popular method for funding accounts, most players use it to receive their winnings.
They’re safe and don’t require players to share sensitive banking information with casinos. While this method isn’t as swift as the others, they are still popular because of its familiarity and trustworthiness.
E-wallets
E-wallets have become incredibly popular among Indian online gamblers for their ease and speed. On platforms like Paytm, Google Pay, Skrill and Neteller, players can deposit and withdraw funds without using their bank account. These wallets serve as an intermediary, which makes the process faster and smoother.
They have the benefit of securing users’ financial information. But digital wallets may have a little cost attached to them. Paytm is specifically popular across most international and Indian betting platforms. The platform is free and setting up this e-wallet is really easy.
It is also open to anyone and supports immediate exchange. Another helpful aspect is that Paytm can be funded in cash, making it easy for some bettors. You can even make a Paytm payment using NetBanking.
Cryptocurrency
Cryptocurrencies are an exciting new payment option, and their demand is continuously increasing in India. They provide an anonymous and secure method for players to deposit and withdraw funds. Some of the most popular coins used by bettors include USDT, Bitcoin and Ethereum.
Players do not have to use traditional banks and their third-party processors. Deposits and withdrawals are almost instant with usually no fees. However, they have the problem of price volatility, which is solved with the use of stablecoins such as USDT.
It is very common to see exclusive crypto betting sites for Indian players. This option is suitable for young players who prefer a sophisticated payment system and do not want to expose their banking details to play casino games.
UPI (Unified Payments Interface)
UPI is a standard mode of payment used for online shopping in India but has recently been adopted by betting sites. This native payment system connects your bank account to your smartphone and allows you to make payments straight from your phone.
UPI is used throughout India, so it is a familiar option for most punters. Not only that, players also don’t have to provide personal bank information to the betting platform. Two of the biggest drawbacks of this type of fintech solution are that users can experience withdrawal time delays, and it is not supported by all betting sites.
Where to Find the Best Bonus Deals
One of the main appeals of online gambling is lots of bonus offers. Many casinos and sports betting sites offer players some form of bonus that may or may not be linked to their payment method. You can find the best bonus offers by considering these
Only use reputable online casino
Players should only look out for esteemed online casinos. These platforms are licensed and regulated, so they adhere to fair practices and provide lucrative promotions to get players.
Your preferred option should also have good reviews and be well-known for paying wins. Some of the most popular offers include sign-up bonuses, cashback, and deposit offers.
Check comparison and review sites
Comparison and review websites can save you a lot of time and effort if you don’t know where to begin. These sites list the top casinos online and detail their bonus offers. They also rate casinos based on customer reviews and payment processing speeds so that you know which ones are most trustworthy.
Many review websites such as AskGambler’s list, even provide VIP promo codes and bonuses that are not offered on the casino’s website. When you go through these platforms, be sure to look out for fintech-friendly casinos that have discounts available for players who pay through different methods.
Conclusion
The rise of Indian online gambling brought in a variety of fintech solutions to Indian gamblers. From the anonymity and security of crypto, to the ease of digital wallets such as Skrill and Neteller, players now have multiple ways of payment that are secure and efficient. All the payment options are different and each has its pros and cons, so it is important for players to choose what fits them best.
To seek the best bonuses, online casino review websites and verified comparison sites are the best guides to find them. Ultimately, selecting the right payment gateway, a reliable casino, and a deliberate approach to bonuses will ensure that Indian gamblers have the best possible online gambling experience.
