When it comes to placing bets online, Indian players will obviously prefer to deposit and withdraw on online betting sites in Indian Rupee (INR). Not only is it easier to deal in the native currency, one will also avoid exchange fees.
In addition, if you find a site that accepts Indian Rupee, there is a very good chance that they have a better understanding of Indian customers, what they like to bet on, as well as the banking options they prefer to use.
Not long ago, Bet365 was the only trusted website that accepted Indian Rupee. 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.
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!
For Indians, there is simply not a more dependable method to deposit and withdraw for online betting sites. E-wallets are essentially an online bank account, similar to PayPal. You can deposit money from your home bank to the e-wallet and transact to and from betting sites.
The best part is that the records on your home bank account will simply show as a transaction with the e-wallet not the betting site.
It allows for a layer of privacy not offered by the other methods. There are some fees associated with e-wallets, but for the convenience they offer, it is well worth it.
The main drawback to an e-wallet is that the process of setting up the account can take a few days, mostly waiting on verification. The most popular e-wallet in India is Neteller. Another option is Skrill (Moneybookers). Entropay was another sought after service but it has now ceased operations.
Note: when using e-wallets, you will be asked your currency preference when creating your account. Be sure to select Indian Rupees if you plan to mainly use sites that accept INR. Typically, this setting cannot be changed after the account is created.
Most sites accept credit card which is the easiest method for deposit when it is available. However, it is not very reliable for Indian players. This mainly has to do with the card issuer and limitations they impose for transactions with betting sites.
The only way to know if it works is to try to make a deposit. Although, even if it goes through one time does not mean it will go through the next. However, if using credit card is a must give fair warning that it can be very difficult to use.
This method is preferred for larger value players since they have high fixed fees. However, it can be hard to use bank wires from India for reasons similar to difficulties using credit and debit cards. Also, most e-wallets provide the ability to make equally large transactions thereby leaving no clear advantage for using Bankwires.
Our section on how to deposit from India talks more about the different types of methods used in India to make online deposits.
Withdrawing in India is best when using an e-wallet. Because of this, it is typically best to use an e-wallet for both transactions (deposit and withdraw). See our section above on e-wallets to learn more about why we recommend it. Neteller is available for withdrawal at all trusted Indian betting sites.
If you made a deposit to the site using a debit/credit card, some sites allow you to withdraw with this method, but it can be even more difficult than depositing. In most cases for Indians, your issuer will reject the transaction.
This is similar to credit cards in that, while it is technically available to Indians, its success rate varies. Also, you tend to encounter high fees from banks for using it.
Visit the Withdrawal methods used online in India for more information.
The most preferred means of making deposits on online horse racing betting sites are e-wallets. We’re in support of Neteller.
In general, because credit cards can be difficult to use, e-wallets are the best for Indian bettors. Setting up an e-wallet account could take a bit of time. However, once finished, you can use an e-wallet to very easily deposit and withdraw money. For more info, check out our banking guide.
Yes, you can certainly make a withdrawal. If you can deposit using Indian Rupees, you will get your withdrawal in Indian Rupees. On the cricket betting site, use the Services menu to order a withdrawal; press Bank, then pick Withdraw. If you are unable to withdraw your debit card, the funds will be returned to you via Bank Wire to your account registered name. Know more about how to make a withdrawal.
Ideally, the quickest and most efficient payment method should be to deposit money via credit and debit cards. From the Bet365 deposit page, all you have to do is pick this option, fill in your card information, plus the sum you want to deposit, and validate your payment.