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Best Banking Options for Indian Players
Depositing at betting sites can be challenging for players from India. Credit cards which are the most popular method worldwide to deposit online can be unreliable, as well as direct bank transfers. Thankfully, there are solid options for Indian players that we will detail below, including ewallets, which are our preferred method to deposit.
Depositing with Rupees
You may notice from our other articles that Betway.com accepts rupees directly. In fact, it is the only reputable online betting site that caters to Indian players this way. They are the most popular betting site among our visitors. We have found the most popular methods for deposit at Betway are Credit/Debit Cards, Skrill, Neteller, Entropay and UKash.
We have awarded www.Betway.com best betting site for Indian players in no small part for the fact that they accept Rupees directly which is something we really appreciate.
Ewallets: Our Favorite Deposit Method
We consider ewallets the best deposit method for Indian players for several reasons, but primarily it is for reliability. If credit cards had a higher success rate, we would likely consider them to be the best for Indian players, but they can tend to be troublesome with high rate of declined transactions which can be very frustrating. However, even for those who don’t experience problems with credit cards, some decide that ewallets are a preferred option. We will explain why.
How Ewallets Work
As you can see above, the concept of ewallets are quite simple. Ewallets are an online bank account that you can load money onto, then transfer that to/from any betting site that accepts the ewallet. Since these ewallets are used for many things (not just betting), including purchasing at online merchants, you will find that funding them with credit cards, bank transfers or other methods to be very reliable. Once funds are on your ewallet, depositing with online betting sites is quick and easy. Another attractive feature of ewallets is that they allow you to withdraw with this method as well.
Best Ewallets For Indian Players
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Skrill is our top pick for ewallets. It is easy to use and has the lowest fees among all the ewallets. Use this method if you don’t make a lot of transactions to and from betting sites.
Neteller is a close second. It has moderate fees compared to the other ewallets, but may be a better option depending on how you use it. Be sure to see the full review.
Entropay is not our preferred ewallet, but still a viable option for Indian players. It has decidedly higher fees compared to the other ewallets.
Why use Ewallets?
Variety of Funding Options. Players can fund their ewallet account with several options, including the most popular options, credit cards and bank transfers. Some ewallets allow you to fund by check, but this can take over a week to complete, so that funding method is not preferred. This means that players who typically have problems depositing onto betting sites with credit cards or bank transfers can fund their ewallet account with this method, then transfer these funds to the betting site.
Reliability. As we mentioned before, Indian players can sometimes have trouble depositing with direct methods like credit cards or bank transfers. So, ewallets provide a great alternative. Once a player funds their ewallet account, they can quick and easily transfer money to and from their preferred online betting site. As long as the betting site accepts your ewallet, you will be able to deposit with them and withdraw using this method as well.
Privacy. When a player directly deposits using a credit card or bank transfer onto a betting site, their statements usually show the transaction with the name of the site. Ewallets provide a layer of privacy, so that the transaction history with the betting site remains with your ewallet. Any transaction to and from the ewallet will show on your credit card or bank statement as a transaction with the ewallet and not the betting site.
Using Multiple Betting Sites. The ewallets we recommend are accepted by most reputable betting sites. Since you can deposit and withdraw using this method, players can quickly and easily take money from one site, transfer it to their ewallet, then deposit with another site. Players do this if they find better odds at a particular site, play a game offered by another site, and/or take advantage of different bonus offers.
These are a quick and easy deposit when available, but many Indian players find it difficult to use this option. The acceptance rates vary and there is no way to predict how reliable they will be. It is a matter of trial and error. Simply try to make a deposit using a credit card and see if it works. Some players will find that they are unreliable, where they may be able to deposit some times, but not others using credit cards directly. They work like any other online transaction with credit cards, simply choose the method, input the required information and deposit amount. The deposit is usually instant. The most popular credit cards are VISA and Maestro. If you are using credit cards, you may have to set up the card for online transactions such as with VISA, you have to register the card with “Verify with Visa”.
Bank Transfers/Wire Transfers
This method is fairly simple if you have all of the required information, including the proper SWIFT code used to identify the bank. This method simply transfers money directly from your bank account to the betting site. This method can often be used to cashout as well, but the fees for this method are often high and only recommended for those who make large transactions. Click here to learn more about wire transfers.
Less Popular Methods
Click2Pay is an ewallet as well, but it is not popular in India. Some use it, but it isn’t accepted at as many betting sites as the other more popular ewallets.
E-check deposits are similar to bank transfers, but are not accepted at very many betting sites. When available, they allow players to deposit using information from their checks (routing number and account number). They work just like paper checks but they are electronic.
Western Union is a cash transfer service that can be a bit of a hassle and carries fairly high fees. We do not recommend it.
Ukash allows players to transact when they don’t have credit cards or bank accounts. Players will need to visit a UKash store, give them cash for which the player will be given a receipt with a code. This code will need to be entered at a betting site that accepts this deposit option which will give the player credit for the amount deposited at UKash.