In order to successfully gamble online, you need to be able to fund your account. This is where things can get tricky pending your country’s gambling laws. Our team of analysts has compiled a list of the viable deposit methods you can use. These methods can fund your online casino, poker and sports betting endeavors. You will learn which gambling methods are the most popular, if it is even legal to gamble online, the parameters of each method and more. Consider this page a resource for your online gambling needs.
Are There Any Laws Governing India Deposit Methods?
Yes and no. The Payment Settlement and Systems Act grants the Reserve Bank of India (RBI) the authority to vet all forms of electronic payment. This includes through major credit/debit cards, prepaid cards and services, eWallets and more. Basically, the RBI has the right to deny any sort of online transaction. There are no specific rules with gambling online through a licensed offshore India online casino, but there are ways to go about depositing many that are better than others. The RBI’s main focus is large businesses and illegal operators, not individual residents, but they are still worth mentioning. They have the power to make online gambling extremely difficult when it comes to payment methods, but they have yet to enforce the full extent of their authority.
Is It Safe To Make Deposits With India Online Casinos?
Yes. Each method is backed by its own security protocols. In addition, the online gambling sites have their own security profiles designed to safeguard your personal and financial information. If you are looking for the most secure method, cryptocurrencies are the way to go. Look for methods that don’t require to divulge personal information like a banking address, account number, etc.
India Friendly Casino Deposit Methods
Cryptocurrencies
Cryptocurrencies are somewhat new to the online gambling world but have taken over. They come with multiple advantages including faster processing times, no attached fees, exclusive crypto-bonuses, anonymity, enhanced security and more.
Which Cryptocurrencies Are Accepted?
Bettors can wager using multiple cryptocurrencies such as Bitcoin on legal Indian Bitcoin casinos. Bitcoin is the leading cryptocurrency and was the first on the market and has the highest value per coin. It is also associated with Provably Fair technology, a way to test fairness of casino games in real time. Learn more about India Bitcoin casinos.
Litecoin is another option and is the second-leading alternative currency. It has a larger blocksize than Bitcoin and can support more transactions at any given time. Litecoins are not as valuable as Bitcoin on the market yet but there are a number of India Litecoin casinos.
Ethereum is a digital currency with smart contracts applicability. These are applications developed on Ethereum’s blockchain to carry out specific functions under certain conditions. This technology may one day apply to online gambling platforms such as India Ethereum casinos.
Dash is the fourth-most-commonly accepted digital currency type. It has a two-tier blockchain network supporting functions like PrivateSend and InstantSend. Dash is a growing cryptocurrency and could increase in value this year leading to the expansions of India Dash casinos.
Do Cryptocurrencies Support Transactions In INR?
No, since cryptocurrencies are in fact their own currency types. You can purchase Bitcoin, Dash, Ethereum and Litecoin using INR from digital currency exchange services.
Are Digital Currencies Accepted At Online Gambling Sites?
Yes. Bitcoin is the most commonly accepted form, but many sites have expanded their alternative currency platform to include Litecoin, Ethereum, Dash and others. Many Indian mobile casinos accept various forms of digital currency and well as other deposit methods.
Are Cryptocurrency Transactions Secure?
Yes. All cryptocurrency transactions are kept secure on their respective blockchain. You store your digital currency in an online wallet designed to prevent cyberattacks. They also use personalized wallet address that promote security and anonymity.
Will I Pay Additional Fees When Making Deposits?
Not when using cryptocurrencies. Since they are not attached to any sort of bank or regulated financial institution, there are no third-party entities that can add small percentage fees or take away from your winnings.
What Are The Deposit Amount Requirements For Cryptocurrencies?
Minimum Deposit: 1298.90 INR; Maximum Deposit: 227307.50 INR
EWallets
eWallets are a preferred online deposit method in India because they are not as enforced by the RBI. They function as online wallets where you can send and receive money with ease. It is similar to a checking account but without all the personal information attached. You typically just send over your wallet address and how much you want to deposit. Neteller and Skrill are the leading eWallets in the Indian online gambling market. Ecopayz is another well-known international website supporting online payments.
Do eWallets Support Transactions In INR?
Yes. You can make deposits and withdrawals to and from your eWallet using INR. You may also convert your INR to another international currency like USD, GBP or euros using an online exchange service. Exchange rates may apply. You may also utilize INR at online rupee casinos.
Are eWallets Accepted At Online Gambling Sites?
Yes. Many India online gambling sites accept eWallets for both deposits and withdrawals. The fact that it is a strictly online transaction process helps keep thing straightforward and hassle-free.
Are eWallet Transactions Secure?
eWallets are built to protect your money from hackers and other forms of cyberattacks. Licensed and regulated online gambling sites have their own data encryption methods in place to safeguard your personal and financial information.
Will I Pay Additional Fees When Making Deposits?
In most cases, no. Many sites do not charge additional fees when making deposits using an eWallet. However, it is possible you will see a small percentage fee applied to your deposit. If there is a fee, it will fluctuate based on the size of your deposit.
What Are The Deposit Amount Requirements For eWallets?
Minimum Deposit: 647.60 INR; Maximum Deposit: 162008.91 INR
Prepaid Cards
Prepaid cards provide a way to gamble online both legally and safely, but also with a limit. Each prepaid method has a cap since you can only gamble what is loaded onto it. This helps prevent gambling addiction and over-gambling. Some prepaid methods are regarded as international gift cards, making them less susceptible to interference from the RBI. The most common types of prepaid methods available are Visa Electron, MaestroCard, AstroPay Card, Entropay, and MST gift cards.
Do Prepaid Cards Support Transactions In INR?
Yes. You can select INR as your currency of choice when loading money onto the card. Basically, whatever currency used to load the card is what will be on there.
Are Prepaid Cards Accepted At Online Gambling Sites?
Yes. Which types of prepaid cards are accepted will vary based on the site you use, but there will always be at least one prepaid method available.
Are Prepaid Card Transactions Secure?
Yes. Prepaid cards function like a debit or credit card in terms of security. For example, a Visa Electron will have the same fraud protection that a regular Visa credit card will. The main potential risk with these types of payment methods is if someone steals the physical card itself.
Will I Pay Additional Fees When Making Deposits?
Yes. There are often additional fees tacked on to deposits using prepaid cards. This eats into the pre-loaded amount, which can be frustrating for some bettors. The percentage should be small, but it can add up over time.
What Are The Deposit Amount Requirements For Prepaid Cards?
Minimum Deposit: 1620.10 INR; Maximum Deposit: 32401.78 INR (*For Visa Electron/Maestro)
Minimum Deposit: 1296.07 INR ; Maximum Deposit: 32401.78 INR *Ffor MST Cards)
Credit/Debit Cards
While credit and debit cards may be your first thought when it comes to gambling online in India, they are not always the most reliable options in India. You can try and make deposits using your Visa or MasterCard, or any other major India credit card for that matter, but you may be blocked by the RBI. This does not mean it is illegal to make deposits using this method, but these transactions are subject to denial in accordance with the financial institution’s best interest.
Do Credit/Debit Cards Support Transactions In INR?
Yes. If you acquire a credit/debit card through an India-based branch, it will already be set up to make deposits in INR.
Are Credit/Debit Cards Accepted At Online Gambling Sites?
Yes, but credit/debit card transactions can sometimes be blocked. India is a more lenient country than others when it comes to this, but the possibility is still there. If your credit/debit card deposit is flagged, we recommend investing that money into cryptocurrencies or transferring it over to an eWallet.
Are Credit/Debit Card Transactions Secure?
Yes. Bank cards come backed with fraud protection and monitoring services from their respective financial institution. Offshore gambling sites also have their own security profile that is designed to protect your financial information.
Will I Pay Additional Fees When Making Deposits?
More than likely, yes. Because these cards are tied to banks, they can charge a small percentage fee on international/online transactions. Fees may vary based on the deposit amount.
What Are The Deposit Amount Requirements For Credit/Debit Cards?
Minimum Deposit: 1620.10 INR; Maximum Deposit: 32401.78 INR
Wire Transfers
Not many people choose to fund their online gambling accounts with wire transfers in today’s day and age. However, they are still an acceptable payment method in most cases. People tend to stay away from them due to their large fees and long waiting times per deposit. Western Union is a common form of wire transfer service.
Do Wire Transfers Support Transactions In INR?
Yes. Whichever currency you issue the wire transfer in is what the deposit will be. Using INR to send money will result in INR being in your offshore gambling site account balance.
Are Wire Transfers Accepted At Online Gambling Sites?
Yes. Like we said, wire transfers are dated, but still present on most sites. Look out for long waiting times on your wire transfer to be processed.