In the era of internet and smartphone, people are fast adopting the digital paymet methods are comes with a conveninece of handling, processing in a quick session and keping a record of every transaction. Realising the enromous potential and exploded adoption of digital payments by users across the world, almost every business has strated aceepting digital payments in one way or other; gaming business is no exception.
Playing at online casinos for real money will require you to deposit real cash. So, after signing up for an account with an online casino of your choice, the next step is to deposit cash. Indian players have plenty of options in funding their accounts, and some of the most convenient methods will be discussed in this article.
A good online gambling site must give players many ways to deposit funds and, most importantly, allow players to make quick online deposits with just a few taps. Below is the list of the best payment methods accepted by online casinos in India.
Debit/Credit Cards (Online Banking)
Fund transfer is now possible with just a few clicks. Thanks to online banking. You can use your credit or debit card to transfer funds to your online gambling account. The good thing about online bank transfer is it does not impose additional charges or commissions. Not to mention, the fund transfer is instant, so you can easily fund your account. However, there is a slight issue with withdrawing funds via debit or credit card. You cannot withdraw funds right away. In general, it would take up to 10 business days for the money to reflect in your account. Some of the debit and credit cards widely accepted in India are MasterCard, VISA, and Amex.
It is the second preferred deposit method accepted by Indian casinos. Different payment channels fall under e-Wallets, such as Neteller, Skrill, Paytm, and PayPal. The beauty of e-Wallet is it gives an added layer of protection covering you from cybercrime risk. We will discuss in detail the available e-Wallets:
It is used by the majority of Indian casinos for both deposit and withdrawal. Many Indians prefer using Paytm because of its optimum security measures and simplicity. Fund transfer can be done in real-time, which offers the kind of convenience Indian players need.
It is a payment method used by millions of people from different parts of the world. There are many purposes for using PayPal and one of which is making payments to Indian casinos. However, you have to be wary as not all Indian online casinos accept PayPal, so you have to know beforehand if your online casino accepts PayPal. If not, you might want to consider other e-Wallet options.
What sets Neteller apart from other e-Wallet options is that it enables you to deposit using a wide range of currencies, including Indian Rupees (INR). It has a currency conversion feature offering seamless transactions. All this without undergoing government supervision.
It is the counterpart of Neteller, which is widely available for Indian players. Its features are most likely the same as Neteller, although there could be a few differences in fees.
It is an excellent payment method for people who are looking for an alternative to usual payment methods (banking method). MuchBetter brings many advantages to online casino players, such as extremely low fees imposed to deposit and withdrawal transactions. It is a safe and secure platform accepted around the globe. Another great thing about MuchBetter is its intuitive design making it easy to use even by novice players. Most of all, it accepts Indian Rupees, which is an added advantage for Indian players.
Unified Payment Interface (UPI)
Wondering how this payment work? It functions like an email ID for your money. It is a distinct identifier the bank uses to transfer funds and make payments with the aid of the Immediate Payments Service. It offers many advantages, especially for Indian players. The transaction takes place directly from bank to bank. Unlike e-Wallets that use a mobile number, UPI uses a virtual payment address. The limit per transaction is high, too (Rs 1 lakh). In fact, way higher when compared to other payment methods. Over 2.8 billion UPI transactions, amounting to Rs 547,373 crores, were recorded during the month of June 2021
The majority of online casinos in India accept cryptocurrency, especially bitcoin, Litecoin, and Ethereum. The beauty of this payment method is you can send the payment in real-time and anonymously. So, if you want to safeguard your personal and financial information while playing online casinos, cryptocurrency is definitely one of the best options.
If you are looking for the best payment methods for online casinos in India, the ones mentioned above are the best options. They are widely accepted in all major online casinos, not only in India but in different parts of the world. Each comes with pros and cons, but you have to weigh all your options to find the one that best suits your needs. Unified Payment Interface and e-Wallets are the two most common options, Skrill, Neteller, and MuchBetter as the ideal choice. Some use prepaid cards such as AstroPay. At the end of the day, you have to choose the payment method you are most comfortable with.