Whether you’re using new betting apps, existing betting apps, or betting sites in India, you need an online payment method. It’s not possible to deposit cash into your online account. This is something you can only do in the USA and some other countries where the same land-based betting operators also offer online services.
In terms of availability, India has almost all the mainstream companies you can think of. Visa, Mastercard, PayPal, G-Pay, Apple Pay, Skrill, Neteller, etc. nothing is off-limits. On top of that, you can expect to find local methods like UPI, Paytm, PhonePe, RuPay, IMPS, and local bank transfers.
Let’s go over the different types of payment methods new betting apps may offer to punters.
Credit/Debit Cards
Plenty of people in India, especially city dwellers, use credit and debit cards. Needless to say, the majority of these cards are either Visa or Mastercard. Thankfully, all of the betting apps we’ve listed on this page accept these 2 brands for deposit.
Like all other deposits in an online betting app, you can expect the deposit to go through immediately. As for withdrawals, cards usually don’t offer it. But some operators might if they have a special arrangement with the card provider. It’s best to contact customer support to know for sure.
E-Wallets
E-wallets are by far the most used and popular online payment method for online gambling. And we’re not only talking about India but also the rest of the world. Skrill, Neteller, PayPal, Paytm, PhonePe, RuPay, etc. all belong to the same category and they’re usually the fastest way to get your money in and out of your betting account.
The first thing you need to do to use any of the methods is to sign up. For the most part, you don’t even need to set foot outside the comfort of your home. You can do it within a few minutes using your phone. Local methods like Paytm, however, will require KYC verification and you may need to visit a KYC point near you.
One of the main reasons we like e-wallets so much is that you get the withdrawals immediately after it’s processed. For regular banking channels, it usually takes up to 5 days for the money to reach your account. The only drawback we can think of is the fees that you have to pay for every transaction.
Cryptocurrencies
Slowly but steadily, we’re moving toward Web 3.0 where decentralisation will take over. And the most prominent example of decentralisation is the crypto industry. So, it’s completely normal that the new betting apps are more likely to offer cryptocurrency methods for deposits and withdrawals in India.
Just like a lot of surrounding countries, the Indian government is yet to regulate cryptocurrencies. While it’s not legal to use cryptos, it’s not illegal either. It means you can use crypto tokens for both deposits and withdrawals if you have a crypto wallet and access to tokens.
You not only get cross-border transaction facilities with no added currency conversion charges but also get your withdrawal immediately credited! It’s simply because when you’re using a crypto wallet, there’s nothing to verify.