India-Friendly Sports Betting Banking Methods

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India Sports Betting Banking Methods

You want to get started betting on sports or horses, but want to learn about the best services available to deposit and withdraw funds from your sportsbook account. I’ve outlined the kinds of banking methods below and the most accepted methods within each category for service in India. You will see that the most popular methods are generally available across each of the sportsbooks.

Credit Cards like Visa and MasterCard are accepted by every sportsbook in my list. Depending on your credit card company, your deposit may be treated with sportsbooks as cash advances, not purchases. This means that your transaction may be eligible for interest charges from the moment of the transaction. Check to see if this is in fact the case with your particular card if you wish to avoid these interest charges. Maestro and Visa Debit and Visa Electron are considered “debit” solutions which allow you to debit funds from your associated bank account, which avoids interest charges.

Entropay is essentially a virtual Visa card which is prepaid - meaning there is no credit check or application required. It allows you to pay instantly and privately so that you don’t share your financial information with the betting service, and your card statement won’t have a betting-related charge listed, but rather “Entropay”. You can load your virtual Entropay Visa by using an actual credit card, your debit card or with your bank transfer and funds can easily be paid back onto your Entropay virtual Visa for transfer back to your original funding source. If your funding source is a credit card, by using Entropay as the intermediary solution, you can avoid potential cash advance interest charges that might be applicable in your jurisdiction as your transaction with them will be treated as a purchase, not a cash advance. Entropay is available in India.

Skrill (and Skrill One-Tap), Neteller, ClickandBuy, are some of the names you may have heard for online payments and transfers. These are often referred to as e-wallets. With them, you can link a credit card or bank account as a funding source to deposit money into your sportsbook account, or conversely, use them to withdraw winnings.

The benefit of these e-wallet providers is that they allow you to move money electronically for very low fees, in very little time. Depositing money is nearly instantaneous, and withdrawals are often processed within 48 hours at most sportsbooks, sometimes, within 24 hours.

An additional benefit of some of these e-wallets is their ability to allow you to access their service from your smartphone or mobile device. Additionally, most of these e-wallet providers allow for transaction sizes large enough to accommodate the needs of almost every bettor. All of the above should be available for use in India.

If you want to use funds from your bank account directly, there are a multitude of options depending on where you live:

Bank Wire Transfers are available at most sportsbooks and in almost every country of the world for transfer to sportsbooks. Wire transfers may take a little longer to settle as a transaction but this method generally allows for extremely high limits and is thus very good for high rollers.

Credit cards, debit cards and prepaid credit card solutions

E-wallet solution providers

Bank debit and transfer solutions