Payment Methods for Sports Betting in India
In the dynamic world of online sports betting, the choice of a payment method can be as crucial as picking the winning team. After all, it guarantees not just seamless transactions, but an entire financial game plan that can elevate your betting experience.
With the right payment method, you’ll be able to get your winnings quickly, pay less in fees, and place bets in an instant. And in a lot of cases, you’ll also reap special benefits (like cashbacks) for using a certain banking option.
Different Types of Payment Methods for Indian Sports Fans
In the following section, we’ll explore some of the most popular payment methods tailored for Indian bettors, including prepaid cards, e-wallets, debit and credit cards.
Prepaid cards offer anonymity and expense control, while e-wallets provide swift transactions and sports betting-specific perks. Debit and credit cards serve as a familiar and widely accepted bridge between online sportsbooks and traditional banking. They offer versatility, ease of use and reliability in navigating the thrilling world of online sports betting in India.
Skrill
As there are a lot of Skrill betting sites, this e-wallet will quickly become your go-to payment method for betting. Not only is it fast and secure, but it also has a Sports Corner specifically for betting. You’ll have access to winning tips, live game tracking, and game insights. Not only does this allow you to make better betting decisions, but it also makes it easy to stay on top of your account and your matches.
Pros
Widely available
Features for better sports betting
Cons
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Neteller
Neteller betting sites also aren’t hard to come by, making this another excellent banking option for Indian players. What sets this e-wallet apart is that it has a special loyalty program that gives customers lower fees, exclusive promotions, dedicated VIP managers, and free money transfers.
Pros
Fantastic loyalty program
Fast and secure
Cons
Long verification process
Astropay
This digital wallet supports INR and has special benefits for betting. You can have a custom Astropay card for Football, Car Racing, Basketball or Tennis. Each one comes with rewards like cashbacks or AstroPoints (that you can redeem for prizes and experiences). Astropay betting sites in India are easy to find, so you’ll definitely have a lot of use for your card.
Pros
Custom benefits
Visa card available
Cons
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Payz (formerly Ecopayz)
Payz is an increasingly popular e-wallet that comes with over 50 currencies (including INR), and an option for multiple accounts. You can transfer funds for free between accounts and sign up for real and virtual payment cards. This is a great option if you plan to use ayz withdrawals, as you can get your winnings from an ATM. As well as that, this digital wallet has different account types with varying limits so you can open one that suits your betting style the best.
Pros
Customisable accounts
Free transfer between your accounts
Cons
Premium accounts can be unaffordable
UPI
If you’re looking for one app to connect all your accounts, then UPI is the payment method for you. You can use it to access your local bank account as well as any e-wallets you may have. This makes it extremely convenient for betting. For example, if the betting site doesn’t accept Skrill but it does accept UPI, you can connect your e-wallet to this payment system. That way, you’ll still make a deposit from your Skrill account, but through UPI.
Pros
One app for all your accounts
Seamless experience across India
Cons
Not widely accepted at bookmakers outside of India
PayTM
From paying bills and online shopping to sports betting, you can do just about anything with this payment platform. In fact, Indian betting sites accepting PayTM are very common nowadays. The app is fast, secure, and offers its own payment cards. If you go for the HDFC Bank Select credit card, you can also get cashbacks when you use it.
Pros
Available in a lot of Indian betting sites
Cashback offer
Cons
No special benefits for sports betting
Paysafecard
Those who don’t want to share their banking details with bookmakers but still want to take advantage of the fantastic odds will love Paysafecard. It’s a prepaid card so all you have to do is load it with funds you plan on using for betting. This is a great way to keep your finances in check and know exactly how much you’re depositing at any given time. Plus, it’s an excellent additional security measure.
Pros
No need to share bank account with bookmaker
Easy to stay in control of your finances
Cons
Not widely available
IMPS
IMPS is similar to UPI, in the sense that it allows you to transfer funds between different banks and to vendors. The main benefit for sports betting is that IMPS deposits are secure and instant. The limits for this payment method are also high, so you can make big transactions. It’s still not as popular as some other options we mentioned here, meaning that you won’t be able to find it at every online betting site.
Pros
Good for big transactions
Instant deposits
Cons
Not widely available
Online Banking
If you want to keep things a bit more old-school, then you should go for online banking. This payment method allows you to deposit and withdraw directly from your account to the bookmaker. It’s convenient and secure, but keep in mind that it often comes with longer processing times compared to other banking options.
Pros
Safe and convenient
Widely available
Cons
Long processing times
Debit / Credit Cards
Debit and credit cards like Visa and Mastercard are, perhaps, the most common payment method at online betting sites. What’s even better is that most of the e-wallets we mentioned above have their own Visa and Mastercard cards. So, if a bookmaker doesn’t accept an e-wallet account but they do accept Mastercard, for example, you can deposit directly from your card instead of your account.
Pros
Works with e-wallets
Widely available
Cons
Can come with longer processing times
Most Asked Questions on Sports Betting Payment Methods
Most online betting sites don’t charge fees for withdrawals and deposits, but you should still do your research before you make an account. The site’s T&C’s or Payments page will detail if there are any fees you should be aware of.
Indian Rupees are supports by most online bookmakers in India. If you are thinking about signing up with an international betting site, be prepared that they may not support INR. In this case, you’ll likely be able to make deposits in EUR, USD, or crypto.
Most popular banking options in India have a reputation for being highly secure, but UPI may be the safest one out there. It comes with a few different authentication procedures, including a one-time password that’s sent to your phone each time you want to make a transaction.
There are a lot of betting sites that accept Skrill, so you can definitely use your account for gambling. In fact, Skrill even has features that help you stay on top of betting predictions and tips.
This will depend on the betting site. Generally speaking, bookmakers in India process your withdrawal request within five days. Some betting sites will process your winnings in fifteen minutes or even instantly, though.