Bhavin Vasa
Sports journalist. Big cricket and football fan. Been writing sports news for many years and now developing my own sports and betting website with honest and professional reviews.
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Top 10 Betting Payment Methods in India
Online or mobile banking allows for readily available cash for any legal purpose. Indian financial institutions make both international and local transactions. It is simple to handle all betting payment methods if you have a bank account and an account created within the digital payment system.
Our ranking of the best sports betting payment methods includes the following:
- Credit Card Payment (Visa/MasterCard);
- UPI;
- Cryptocurrencies (Bitcoin, Ethereum);
- PayPal;
- Skrill;
- Astropay;
- Neteller;
- PayTM;
- PhonePe;
- Google Pay;
- PaySafeCard;
- EcoPayz;
- IMPS.
Credit Card Payment (Visa/MasterCard)
Safe and simple financial transactions make Visa and MasterCard the best betting payment method in India. You can use it to deposit your balance and cash out your winnings. However, the processing time might not be as quick as you want.
Additionally, you can use Visa and MasterCard as credit cards to borrow cash from the bank without directly linking them to your bank account. The allowed line of credit is granted for some period of time for free. But if the betting payments are delayed, the bank charges interest according to the annual percentage rate.
| Security | The highest |
| Fees | Depends on the bank and the transaction type |
| Pros | Smooth use is guaranteed as credit cards are widely used across IndiaThis best betting payment method is highly secure due to end-to-end encryptionAlmost any payment is possible |
| Cons | This betting payment method does not provide anonymity as you should provide the bookmaker with your bank details |
UPI
The Unified Payment Interface (UPI) is a quite recent way to deposit your balance on a betting site. The payment method was developed by the National Payments Corporation of India and the Reserve Bank of India. To use it, you should download the UPI mobile app and create your own account. The so-called UPI ID and UPI PIN are assigned upon registration. You must enter your unique code in the deposit or withdrawal field on the betting site or simply scan a QR code to complete a payment using this method.
It is one of the most widely used betting payment methods. To take advantage of this, you should have an account at a bank that supports UPI. Most of the Indian banks have adopted UPI.
| Security measures | High |
| Fees | Depends on the transaction, for instance, you’ll pay 1.1% of a transaction that exceeds ₹2,000 |
| Pros | It can be used for the instant transfer of solid amountsIt allows for instant deposits and withdrawalsThe easiest way to use on betting sites |
| Cons | Low anonymity |
Cryptocurrencies (Bitcoin, Ethereum)
Betting payment requests with cryptocurrencies are still not as common as fiat transactions. However, the number of online sportsbooks that integrate this payment method for online betting is increasing. Some websites allow users to deposit and cash out with over 30 tokens. The most popular are Bitcoin, Ethereum, and Litecoin, which are considered the most reliable, transparent, and anonymous methods to complete financial transactions. Blockchain technology provides security. The only reason for concern about choosing this betting payment method is the volatile exchange rate.
| Security measures | High, but the volatility is also high, which may result in a significant fee |
| Fees | Depends on tokens and transactions, for instance, the charge amount can be about 2% |
| Pros | No banks are involved in crypto paymentsA convenient for betting sites deposit and withdrawal method to transfer large amountsAn extremely anonymous option |
| Cons | Cryptocurrency payments are not properly regulatedFees may be higher than with other online betting payment methods |
PayPal
For many Indian users, PayPal is the best betting payment method. It is trustworthy and convenient. You can be sure that quality account monitoring is performed around the clock for anti-fraud detection purposes. Your sensitive information is encrypted to guarantee your safety when you use PayPal to deposit or withdraw.
Most Indian payment options betting sites accept this method, which enables instant payments while maintaining a high level of anonymity. It is available both for top-ups and payouts. Opening an account on PayPal is so simple that anyone can join the system and enjoy its functionality. You must link the account to your bank card.
| Security measures | High |
| Fees | Transfer to a bank account is freeThere are currency conversion fees, transfer, and commercial rates that depend on the transaction type |
| Pros | This payment method is secure due to encrypted transactionsLots of online bookmakers accept this betting payment method in IndiaLots of banks support transactions via PayPalIt has a user-friendly interface |
| Cons | You must have a PayPal account registered in your own name only |
Skrill
A Skrill is an electronic account that can be used for sending and receiving online or mobile payments in a preferred currency. You can keep your cash in your registered profile without any time limits, but you may incur service charges. Despite the fact that Skrill is not a bank, the funds are very safe.
The payment service can be used in over 200 countries. A few betting deposit methods can boast such coverage. Most Indian banks and betting sites widely accept Skrill. By using this method, you can seamlessly pay, send, and receive cash online. Registration and termination of a Skrill account are free and last for a minute. As a Skrill account holder, you will be able to send or receive cash immediately. Deposits are instant. The processing time for casing out differs.
| Security measures | High |
| Fees | Low or zero(Depends on the transaction, merchant. For instance, 1% – deposit via rapid transfer, 1,75% – withdrawal via bank transfer.)There are non-compliance, chargeback, prohibited transactions, reverse of a wrong transaction, and other exclusive fees. |
| Pros | This payment method can be used with multiple currenciesThe registration of a Skrill account is simple and free of chargeEnd-to-end encryption is used |
| Cons | Some betting sites exclude this betting payment method in India from some bonus terms |
Astropay
AstroPay is a global e-wallet and is entirely legal for Indian bettors who can pay for online purchases, make deposits, and cash out on betting sites. You can use this method for effortless international financial transactions from any location and in nearly any currency. The service provider aims to simplify online payments and make financial freedom affordable, regardless of geographical borders. In addition, the platform allows for smart investing and savings. Using it, you earn points and unlock privileges, which is not possible with most other online betting deposit methods.
Lots of online bookmakers accept AstroPay as a payment option. You can use it online, via the app, order a virtual debit card, or buy a digital prepaid card. Advanced encryption and bank-grade security measures protect the users’ sensitive data.
| Security | High |
| Fees | Low fees (depend on the transaction type)Zero registration and monthly fees. No fees for money transfers between AstroPay accounts. |
| Pros | Indian rupee and lots of other currencies are availableThis betting payment method is quite anonymous |
| Cons | It is rarely accepted for withdrawal |
Neteller
Another e-wallet on the list of sports betting withdrawal methods is Neteller. Now, it is owned by the same company that owns Skrill and Paysafecard. You can use it to send and receive money to and from online bookmakers and transfer Neteller balance to your bank account when needed. It actually provides you with a lot of products, including an e-wallet, a payment gateway, money transfers between banks, the release of a prepaid card, transactions with cryptocurrencies, and others.
This payment method is extremely popular and covers over 80% of payments in the online betting industry. In India, Neteller typically charges no fees for cashing in and out on betting sites. The e-wallet supports over 25 currencies, including INR, and is used by over 23 million people globally due to its high safety and convenience.
| Security | High |
| Fees | Depends on transaction details. There is no service fee |
| Pros | The coverage is hugeIt allows for quick and smooth deposits and withdrawalsIt is highly secure thanks to the use of encryption technology |
| Cons | It is demanding as to the user’s identification. |
PayTM
PayTM (Pay through Mobile) is an Indian company that provides financial services, including online and mobile payments. There is a mobile app for users’ convenience. You can top up your individual PayTM e-wallet account with other payment methods, and then use this money safely without showing your bank details on betting sites.
You can support your national business and prefer this option when betting online or on the go. It is quite secure and available in numerous languages and currencies. You can complete deposits and withdrawals within a few minutes.
| Security | High |
| Fees | Depends on the transaction type.Free of charge if money is sent to other PayTM accounts.No annual maintenance fee |
| Pros | It is fast and simple to useEvery user who meets the KYC requirements can use it in IndiaUsers’ personal data is properly protected. |
| Cons | It is not accepted by all online bookmakers |
PhonePe
PhonePe, an Indian digital payment company, operates a semi-closed prepaid payment system and provides a mobile app for seamless mobile transactions. The services include receiving and sending funds, paying for mobile services and utility bills, making online purchases, trading stocks, and other things.
It is extremely popular among Indian bettors and accepted by lots of online bookmakers. PhonePe operates on the basis of the UPI system. To use PhonePe, you should have a UPI ID and a bank account with a replenished balance. Fees can be amended, which is a usual practice for online betting payment methods.
| Security | High |
| Fees | Processing fees depend on the transaction type |
| Pros | Payments are completed over banking networksIt does not store users’ dataIt is national, secure, and fast |
| Cons | It cannot be used without an active bank account registered in a user’s name |
Google Pay
Google Pay is a digital payment method enabled via the mobile app that is legal in India. It is widely used for sending or receiving money on the go. You can use it to replenish your balance on the betting site in several taps. Also, it allows you to pay mobile phone and utility bills. In addition, Google provides a platform where various service providers can offer their products, like loan facilities or credit card services. To use Google Pay in India, you must be a resident or stay within the country.
Most of the time, a technical direct link between a sender and a recipient enables payments via Google Pay. Sometimes, the company can serve as an intermediary for limited purposes. Anyway, Google is not a party to transactions, and it is not responsible for chargebacks or other issues between a sender and a recipient. You should have a registered Google account and activate this option in the menu.
| Security measures | High |
| Fees | Fees may be charged for particular transactions or exclusive Google Pay services |
| Pros | Risk monitoring is regularly performed to protect users from fraudRuPay credit cards can be linkedThere is a transaction history in a user’s Google Pay app |
| Cons | Limits can be imposed, and transactions can be declined without notice |
PaySafeCard
PaySafeCard is a prepaid online payment method that is owned by a corporation that owns such effective and popular e-wallets as Skrill and Neteller. This one of the most reliable betting sites deposit methods is used globally and accepted by lots of online bookmakers in India. When using it, you should buy a prepaid card or the so-called e-voucher. When doing so, you get a pin code consisting of 16 digits. Every time you prefer this option on the betting site, you will be required to enter this code to make a deposit.
Currently, the available denominations of the Paysafecard are 900, 1300, 1700, 2100, 2500, 4500, and 9000 Rs. There is no need to include your bank information, such as an account or credit card number. No personal data is required, either.
| Security | High |
| Fees | Commonly free of charge |
| Pros | It is highly secure, as no bank or other sensitive data is revealedThis is the best betting payment method that helps to manage the bankroll as you have a balance restricted to the denomination of the cardIt is easy to use |
| Cons | There are payment limits that depend on the card typeThe option does not support withdrawals |
EcoPayz
EcoPayz is an e-wallet used for sending and receiving money globally, including in India. To use ecoPayz, you should create an account within this service by providing a username, e-mail address, password, your date of birth, actual address, and mobile phone number. Registration is immediately upon verification of your e-mail. Then, you should top up your balance via your bank card or other payment methods and use these funds to make a deposit on a betting site, transfer the amount to other ecoPayz accounts, or pay in online stores.
This betting payment method in India offers classic, silver, gold, platinum, and VIP accounts. Starting at the classic account, you can level up to access better conditions and additional services, like higher limits, a wider range of currencies, lower fees, and so on.
| Security | High |
| Fees | Betting payment fees depend on the service type |
| Pros | There are prepaid cards for online use onlyIt allows users with a large turnover to benefit from better conditionsThere are ecoPayz specials, like the loyalty program, and others |
| Cons | There are payment limits that depend on the card typeStrict requirements for the verification of VIP users |
IMPS
IMPS (Immediate Payment Service) is an online and mobile banking system that allows for instant money transfers from one bank to another. It allows you to send the smallest amounts, unlike most betting payment options. This method is accepted by many Indian banks and sportsbooks. To benefit from this option, a user should have the recipient’s mobile number and IMPS ID. It is very simple to use. You should have a mobile phone, an Internet connection, and a registered account in a bank that accepts IMPS.
When you prefer IMPS, you can count on a high level of protection for your funds and personal details. Here, a one-time password and two-factor authentication are used.
| Security | High |
| Fees | Depends on a bank and transaction typeFor instance, an amount of up to ₹1,000 can be transferred with charges of ₹3.50 (+GST) |
| Pros | It allows for small transactionsIt is cost-effective due to low feesIt is a real-time money transfer method |
| Cons | If a transaction is considered void, the payment can take up to 5 days because of additional verificationThere are issues with accessibility, as you can use IMPS for betting payments only on mobile phones |
How Did We Choose the Betting Payment Method?
We select the top 10 betting payment methods after thoroughly analyzing the demands and concerns of Indian bettors. Our experts considered the below features:
- Ease of use. Each payment method on the list guarantees a fast and safe transaction in a few seconds;
- Rupee acceptance. All betting payment methods need to allow for transactions in Indian rupees;
- User Protection. The service providers are licensed by the Reserve Bank of India and integrate top-notch security measures to protect users from online fraud. Typically, service providers apply SSL and high-encryption protocols;
- Limits and processing time. These two parameters are variable depending on a betting site, a bank, and a transaction type. We discovered the best terms currently available;
- Customer Support. The responsive and helpful support teams should be ready to assist around the clock.
What Impacts the Payment Processing Time on Betting Sites?
The time required to process deposit or withdrawal requests is usually mentioned within the range of values, which are determined by the following participants:
- A betting site (merchant);
- A user (bettor);
- Acquirer – a bank that serves the merchant’s account;
- Issuing Bank – the bank that serves the bettor’s account;
- Middleman – a payment gateway for online or mobile transactions.
Payment Processing Time on Best Betting Sites
A selected payment method is a “middleman,” which performs transactions. A few of them allow a user to store cash in the system’s accounts. Only rare technical issues on the part of a betting payment gateway, except for those options not linked to bank accounts, such as prepaid cards, can cause delays. Banks make the final decision “against” or “in favor of” a transaction, provided that the bookmaker’s security service does not reveal anything suspicious. The procedure is as follows:
- The user activates a betting payment method at the cashier on the betting site and submits a deposit/withdrawal request.
- The issuing bank verifies the users’ data in this request, as well as the availability of funds on the user’s bank account.
- At the same time, the acquirer verifies the user’s data and confirms the availability of funds in the user’s betting site account.
- Banks permit a transaction if verifications are successful.
- If the verification fails, the bank notifies the merchant of the error and declines the user’s request.
As banks, betting sites, and online payment service providers have different approaches to checking, the processing time varies constantly.
How to Top Up an Account on Betting Sites?
Online bookmakers typically permit you to top up your account without verification. To make a deposit, you should:
- Register on the preferred betting site.
- Log in and click the “Deposit” button in the header.
- On the deposit page, select the best betting payment method and enter the sum you want to invest.
- Complete the deposit form and submit it.
- In most cases, you can get the funds on your sportsbook account instantly.
How to Withdraw Winnings on Betting Sites?
Be sure to prove your identity before your first withdrawal. Otherwise, your request can be rejected while you pass the verification procedure. According to the KYC protocol, you should verify your account by uploading copies of your ID documents. Once verified, you can proceed with cashing out using the following method:
- On the betting site, go to the cashier and click the Withdrawal tab.
- Select a payment method (commonly, it should be similar to that used for deposits).
- Fill out the displayed form and submit a withdrawal request.
- Await the transfer of funds to your external account within the specified processing time.
FAQ
What is the key function of a payment gateway?
In most cases, a payment gateway enables a connection between the bookmaker’s bank and the user’s bank.
Are there guaranteed instant sports betting withdrawal methods in India?
Cryptocurrency allows for instant payments. Most e-wallets also allow for quick cashing out (up to 24 hours).
How to make sure I receive my money when withdrawing from a betting site?
You should double-check your bank and personal data when you fill out the payment form and the required amount on your balance.
What is the most frequent reason for a withdrawal failure?
Issues with your betting site verification frequently prevent withdrawals.
Which betting payment method is best for deposits and withdrawals on Indian betting sites?
The choice depends on your preferences. We’d say that UPI, PayTM, and IMPS are the most frequently used betting payment options in India.
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