If you’ve read other pages of our website, you’re probably well aware many European bookmakers allow Indians to wager online. This includes www.bet365.com who accepts deposits in rupees, pay winnings in rupees and even take online wagers on IPL cricket, F1, English Premier League and dozens of other sports in rupee. We have nominated them as the best betting site in India. The only challenge in getting started – many of these website don’t give proper instruction on how Indians can make deposits once their account is set up, hence the reason I’m writing this article.
How to Deposit Money at an Online Bookmaker
The easiest method to deposit at an online bookmaker is credit card, however Indian credit cards are either not accepted or have a low success rate at many online gambling sites. I can tell you from experience with Betfair – don’t bother, Indian credit cards are not accepted here. At Bet365, visa cards are often accepted, but only if you’re registered with “Verified by Visa” and enter the correct password. If you’re not registered – don’t worry, the first time you attempt a deposit (if your issuing bank offers this service) you’ll be provided instruction on how to register. In all other cases I know of Indian credit cards are hit or miss. One good thing is that M88 will walk you through depositing if you’re from India. The good news is you can still use your credit card, read the next section on E-Wallets for details.
Depositing With Rupees
There is only one site that accepting Indian rupees directly that we recommend. They also tend to be the favorite betting site for Indian players:
Bet365.com – Offers a great selection of deposit options, quality software and support. Offers sports, casino and poker betting.
You may be able to deposit in INR using credit cards, the success rate and dependability is not very high with this method. That is why we recommend using ewallets. We will explain more about those below.
E-Wallets Are Best
The best way to deposit with an online gambling website is an e-wallet account. An e-wallet works much like an online bank account. You can fund your e-wallet account using credit card, or e-check. Generally loading from your credit card is instant, where loading from your bank account (e-check) takes a few days. Once the funds are in your account you can then use them to deposit at an online gambling site. Another nice feature is many online gambling sites also offer the options to have winnings paid to an e-wallet. This makes it easy to transfer funds to and from different betting sites, allowing you better control when shopping odds. Also, at any time, you can cash funds out of your e-wallet account to your home bank account.
Illustration of How Ewallets Work
Moneybookers has been facilitating easy transfer of money online, since 2001. With a customer-base that exceeds 18 million, Moneybookers is one of the largest online money transfer service providers in the world. It allows you to transfer money instantly. So, you will have access to provisions for funding your bankroll at all times. See our page on Opening an Indian Moneybookers account.
NETELLER, established in 1999, is run by Optimal Payments PLC. When compared to traditional payment methods, NETELLER is a more convenient and fast option. It allows you to transfer money in all major currencies – this includes INR. The e-wallet offers players a range of benefits. Some of these are access to – a host of benefits and rewards, special promotions and offers for VIP players and services that allows you to transfer money in a secure way. See our page on Opening an Indian Neteller account.
For an alternative to Moneybookers and NETELLER that allows you to shop online anywhere Visa is accepted, see page on EntroPay for Indians.
Note: e-wallets are accepted at almost all online gambling sites. Our favourite site is www.bet365.com because they offer the widest coverage of sports, including live streams of Indian Premier League (IPL) Cricket, as well as great odds on horse racing and English Premier League football. Bet365 also accept deposits and issues withdrawals in Indian Currency (Rupee — INR). To learn more read our Bet365 Review.
Pre-paid Debit Cards
This option is often forgotten in the mix, but it it is a great way for Indian players to deposit who want the convenience of a credit/debit card and don’t want to use e-wallets. There is an extra step involved where the player will need to buy the pre-paid card and load it with money before depositing, but once this is done, it works very much like a regular debit/credit card. Learn more about online betting with prepaid cards.
Less Popular Methods of Deposit
In addition to less popular e-wallets such as Click2Pay.com, other options for Indians to deposit at online bookmakers are as follows.
E-Check Deposits. Transferring money through your bank account to your online sportsbook account via e-check is one of the safest options. With this, you will be able to control the funds that go into making your bankroll. Unlike with a credit card where you can transfer and go through huge sums of money, with e-check bank transfer, you can only transfer as much money as you have in your bank account.
Debit Cards. Several online sportsbooks offer VIP clients the option of using a stored value debit card. These are issued by third party providers and then linked to your bank account. This is a more convenient option than bank transfers which can take a few days for completion. Most debit cards, will give you instant access to funds. The benefit of this provision is that you will be able to transfer money to your account at any time.
With these cards, your money will be better protected than with a credit card. This is because, with the former, you have to employ a PIN for the completion of a transaction. This verifies your identity before permitting the transaction. Debit cards have a transaction history which will help you keep track of all the cash you have spent on wagering at a sportsbook.
To inquire if this option is available, you should first build a history of several deposits and withdrawals with a betting site, and then email asking if their company offers stored value debit cards to frequent players.
Bank Wire. When you transfer funds electronically from your account to the one at an online sportsbook, it is called a wire transfer. These enable you to make payments quickly. To initiate a wire transfer, you will have to inform your bank you want to transfer money and specify the amount to be paid. You will also have to provide the BIC and IBAN codes of the sportsbook. This is used by the bank to identify the entity to which your money should be transferred. The transfer may take between a few hours to a few days. This is contingent on the bank with which you have an account. It is possible that the bank which sends your money may charge you a small fee for the transaction.
Cash Transfer Services. If you don’t have a credit card or bank account, some online betting sites accept deposits via cash transfer service such as Western Union or Moneygram. The downside to this method – the fees are incredibly high, so you’ll want to use this as a last resort option, but is also a preferred method for the high roller. However, there are currently not any sites we recommend who offer this option to Indian players.
Recapping the Best Methods
Again, the methods of deposit we most recommend for sports bettors from India are www.neteller.com and www.moneybookers.com. Using either you’ll be able to save on currency conversion fees, as you can set your account currency to Indian Rupee – INR. You can then choose www.bet365.com as your preferred online bookmaker. Remember Bet365 takes bets, deposits, and issues withdrawals in rupees as well. The money saved in currency conversion and banking fees greatly increases your overall probability of winning long term.
For information on cashing out from sports betting sites, see our page: how do gambling sites pay winners?