Betting with PrePaid Credit Cards in India

online betting prepaid cardPre-paid debt cards are an excellent choice for Indian players who prefer to use CASH for daily transactions or don’t have established credit. However, like anything else they have their own advantages and disadvantages. The primary disadvantage of pre-paid cards is simply that you have to load the card with cash before you use it. This is less convenient than always having a regular credit card or ewallet. However, once you load cash onto a pre pay card, it works just like a credit card. This is of course is a primary advantage.

Like a Credit Card, In Some Ways Better

A lot of people don’t have any ability to obtain a credit card because they don’t have established credit needed to qualify. This problem is solved with the pre-paid card option. No personal credit is needed to use these card and for this reason they are safe to use in internet cafes. Simply obtain a pre-paid card and load it with cash, this can be done at physical locations.  They vary depending upon the issuing company and sometimes you can do it online.  Some banks let you transfer money from your checking account to the card directly. Be sure that the issuing card has a visa or mastercard logo, usually on the lower right part of the card, and these will be accepted at any sports betting site that allow for visa or mastercard transactions. Once money is loaded on the card, it acts just like a regular credit card. Make your deposit and begin playing.

Pre-paid cards are also good for setting personal limits. Since you can only play with what has been loaded onto the card, it helps to prevent players from going into debt if they usually use credit cards. Just be sure not to load more onto the card than you can afford to lose.

Different Types of Pre-Paid Cards

There are two main types of pre-paid debit cards, Open Looped and Closed Looped cards.

Open Looped cards can be reloaded if your balance is depleted.

Closed Looped cards are usually given as gift cards. Once the card is depleted, you cannot reload it with more money.

Withdrawing with Pre-Paid Cards

In most cases you cannot withdraw using the pre-paid card. We recommend receiving payment in the form of a check instead that can be cashed or deposited into your personal bank account.

Recommended Pre-Paid Cards

HDFC Bank:

Visit www.HDFCbank.com and choose “GiftPlus Card”

Reloadable? No

Issue Fee? Rs 100

Transaction Fee? None

Accepted at any location accepting VISA.

Axis Bank:

Visit www.Axisbank.com and choose “Gift Card”

Reloadable? No

Issue Fee? Rs 100 or 1% of amount loaded, whichever is greater.

Transaction Fee? None

Accepted at any location accepting VISA.

ICICI Bank:

Visit the www.ICICIbank.com and choose the “Retail Gift Card”

Reloadable? No

Issue Fee? Rs 100

Transaction Fee? None

Accepted at any location accepting VISA.

Tips for Using Pre-paid Cards

  • Look for cards with the commonly accepted payment processor logos such as VISA and Mastercard. These will give you the most flexibility when making deposits all reputable sports betting sites accept these methods.
  • Recommended sites that accept Indian deposits using major Cards: betway.com.
  • Don’t forget that you can use the balance on the card at any retailer that accepts the payment processor eg. VISA, Mastercard, Amex, etc. Just look for the logo on the card.
  • When making a deposit, keep in mind not to leave a lower balance than the equivalent of £5. Typically, that is the deposit minimum.
  • Don’t load more onto the card than you can afford to lose. The hope is that you win, but there is always the risk of losing.
  • Withdraw using the check option. Checks are usually mailed within 7-14 days depending upon the betting site.
  • If you lose your card it can typically be reissued for a fee, typically Rs 100. Check the terms and conditions for each card for details.
  • Some cards will allow you to withdraw the balance at an ATM, check the terms and conditions for the card for more info.