How to Deposit Money from India for Online Betting

It is one of the most frequently asked questions, and a seemingly challenging ask, among those who are new to online betting: how to deposit money in betting sites from India. We hope the below information answers all of your deposit questions – making informed deposit decisions is key to online betting success.

Most of the people experience difficulty because they either attempt to make wire transfers or use credit cards. Due to India’s FEMA (Foreign Exchange Management Act), players need to exercise caution as using credit cards on betting or cryptocurrency platforms is against most card issuers’ terms and conditions. It can therefore be very frustrating when such methods do not work, or only work periodically with no predictable pattern.

Moreover, many websites do not offer proper instructions as to how Indian players can deposit money once their betting accounts have been set up. This guide will help you deposit money from India onto online betting sites.

Popular Sites To Deposit Money

“Is it possible to make a deposit in Indian Rupee?”, you ask. The answer is a resounding YES!

Many international betting sites allow Indian players to register an account and bet online. And not long ago, Bet365 was the only trusted website that accepted Indian Rupee (INR). The list, however, has since increased and it includes the likes of Betway, Bodog, 10Cric, Royal Panda and many more. These betting sites accept deposits in INR, allow withdrawals in INR, and even take online bets on sports such as cricket, horse racing, etc. in INR.

Betway is our top pick for best all-round betting site for India

Why Deposit Money And Bet On Betway?

Betway offers a wide range of state-of-the-art online gambling and live casino services such as bingo, poker, in-play betting, Vegas-style games, esports and sports betting. The company, Betway Limited, is registered in Malta and regulated by Malta Gaming Authority.

When it comes to sports, Betway offers a wide variety of betting options. Their sports selections include cricket, horse racing, football, tennis, and more.

Pros Of Choosing Betway

• Allows Indian Rupee (INR) deposits and withdrawal
• Attractive welcome bonus
• Offers special bonuses for Indian gamblers and casino players
• Safe to join, secure, and mobile friendly
• Wide selection of casino games and sports

How To Deposit Money At Betting Sites

Credit cards are the easiest way to deposit when available. However, Indian credit cards typically have a low success rate due to banking restrictions.

However, a near-foolproof workaround whereby you can still use your credit card is by signing up with an e-wallet. Deposit money in an e-wallet using your credit card and fund your betting account using the e-wallet. Its that simple!

We recommend using an e-wallet like Neteller

To learn more about INR and how to make deposits or withdrawals using e-wallets on gambling sites, visit our Indian Rupees guide.

Popular Services To Deposit INR In Betting Sites From India

e-wallet (#1 Recommended)

E-wallets offer the easiest way to deposit money at a betting site from India.

Think of an e-wallet like an online bank account. Typically you will fund the e-wallet using a bankwire, or via your credit/debit card, and the transaction will be directly to the specific e-wallet. Once funds are loaded, you can deposit and withdraw from betting sites at your convenience. If you want to cash out completely, simply send a wire transfer back to your home bank account.

Another great thing about e-wallets is that you can use them at non-betting online merchants as well.

All of the betting sites recommend on OnlineBetting.in accept e-wallets. The most common are Neteller and Skrill; we recommend those e-wallets to give you the most options when choosing betting sites that accept them.

Benefits of Using E-wallets for Betting

• More Reliable – One of the main reasons to use an e-wallet from India is its reliability. The other options available offer far lower success rates when depositing and withdrawing. Once you fund your e-wallet account, depositing onto online betting sites is fast and easy. This makes the process far less tedious and frustrating. In short, it makes it more enjoyable.
• More Funding Options – Most e-wallets allow several funding options, including credit cards, bank transfers, and some offer funding with cheques by mail. This allows the greatest flexibility among all the options.
• Better Privacy – When you make a deposit directly with a betting site, your credit card or bank statement will often show the name of the betting site with that transaction. E-wallets provide a layer of privacy for this because your credit card or bank statements will show only a transaction with the e-wallet that you fund and not the betting site. This allows these transactions to be more confidential than more direct methods.
• Shopping Odds and Bonuses – We often recommend opening accounts with more than one betting site. This allows you to shop various odds for sports betting, have access to a greater number of betting options, as well as give you the chance to shop for the best bonus offers. Using an e-wallet such as Neteller and Skrill gives you the option to quickly and safely transfer money between sites using your e-wallet in order to get the best value for your deposit and bets.
• Online Shopping – Since these e-wallets are used at online merchants and retailers in addition to betting sites, you can always use your winnings straight from your e-wallet to purchase items online without having to deposit it back into your home bank account.

Drawbacks of Using E-wallets

• Set up Process – Setting up an e-wallet can take several days to complete. Much of that time is waiting on verifications, so be prepared for the extra time to create your e-wallet account before placing bets. However, after you set up your account, you will discover the time setting up the account was well worth it.
• Fees – There are fees associated with e-wallets. You will find that most betting sites do not charge fees, but the individual e-wallets will have some transaction fees. If you fund your e-wallet account using a credit card, the fee is usually between 1.75 and 1.9% of the transaction.

However, funding your e-wallet by bankwire is usually FREE.

The fees to transfer money from your e-wallet back to your bank account are as follows:

Neteller charges roughly 7.5 EUR for withdrawals. Skrill offers a FREE option through SWIFT transfers, while cheques are 194.25 INR, but will come in USD, GBP or EUR.

Credit and Debit Cards

This is the fastest way to deposit for most places around the world. This method is as simple as entering your credit card information into the required fields at the betting site, entering your desired amount of deposit and agreeing to the deposit.

However, due to restrictions within India, using this method can be hit or miss. It can be extremely frustrating to use. If using credit cards is a priority, we recommend using Indio Casino. They have the highest credit card acceptance for Indian players. Keep in mind, they only offer casino deposit options. So if betting on sports and poker is something you are interested in, we still recommend using e-wallets. See our guide for credit card deposits.

Bankwire

A bankwire is simply an electronic transaction between your bank and the site you wish to transfer money to. It requires several key pieces of information to initiate the wire, including banking details of the receiving party that are available upon request.

However, similar to credit cards, using this method to deposit can be unreliable as banks in India will often not send money directly to betting sites.

In addition, there are usually high fixed fees to use this method. They can also take a long time, as many as 14 days to process the wire. Also, maximum for deposit is fairly low when using Indian Rupees (INR 3,75,000). In some cases, e-wallets have higher maximum deposit amounts.  See our guide for bank wire deposits.