In the age of the internet and smartphones, people are rapidly embracing digital payment methods that come with the convenience of handling, quick one-session processing, and keeping a record of every transaction. Realizing the huge potential and explosion in the adoption of digital payments by users around the world, almost every business has started accepting digital payments in one way or another; gaming business is no exception.
Playing in online casinos for real money will require you to deposit real money. So, after opening an account with an online casino of your choice, the next step is to deposit money. Indian gamers have many options for funding their accounts, and some of the more convenient methods will be discussed in this article.
A good online gambling site should offer players plenty of ways to deposit funds and, more importantly, allow players to make quick online deposits with just a few clicks. Below is the list of the best payment methods accepted by online casinos in India.
Debit / Credit Cards (Online Banking)
Transferring funds is now possible with just a few clicks. Through online banking. You can use your credit or debit card to transfer funds to your online gaming account. The advantage of online bank transfer is that it does not impose any additional fees or commissions. Not to mention that the transfer of funds is instantaneous, so you can easily fund your account. However, there is a slight problem with withdrawing funds by debit or credit card. You cannot withdraw funds immediately. Typically, it would take up to 10 business days for the money to reflect in your account. Some of the widely accepted debit and credit cards in India are MasterCard, VISA, and Amex.
It is the second preferred deposit method accepted by Indian casinos. Various payment channels fall under e-wallets, such as Neteller, Skrill, Paytm and PayPal. The beauty of the e-wallet is that it offers an extra layer of protection covering you from the risk of cybercrime. We will discuss in detail the available e-Wallets:
It is used by the majority of Indian casinos for deposit and withdrawal. Many Indians prefer to use Paytm because of its optimal security measures and simplicity. The transfer of funds can be done in real time which provides the kind of convenience that Indian gamers need.
It is a payment method used by millions of people from different parts of the world. There are many reasons to use PayPal and one of them is to make payments at Indian casinos. However, you should be wary as not all Indian online casinos accept PayPal, so you should know first 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 allows you to deposit using a wide range of currencies, including Indian Rupee (INR). It has a currency conversion function offering transparent transactions. All this without undergoing government oversight.
It is the counterpart of Neteller, which is widely available for Indian gamers. Its specs are probably the same as Neteller’s, although there might be some differences in the fees.
It is an excellent means of payment for people who are looking for an alternative to the usual means of payment (banking mode). MuchBetter brings many benefits to online casino players, such as extremely low fees charged for deposit and withdrawal transactions. It is a safe and secure platform accepted worldwide. Another great thing about MuchBetter is its intuitive design which makes it easy to use even by novice gamers. Mainly, it accepts Indian Rupees which is an added benefit for Indian players.
Unified Payment Interface (UPI)
Are you wondering how this payment works? It works like an email id for your money. This is a separate identifier that the bank uses to transfer funds and make payments using the immediate payments service. It offers many advantages, especially for Indian players. The transaction is carried out directly from bank to bank. Unlike e-Wallets which use a mobile number, UPI uses a virtual payment address. The limit per transaction is also high (Rs 1 lakh). In fact, much higher than other payment methods. More than 2.8 billion UPI transactions, amounting to Rs 547,373 crore, 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 that you can send the payment in real time and anonymously. So, if you want to protect 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 the major online casinos not only in India but in different parts of the world. Each has their pros and cons, but you need to weigh all of your options to find the one that best suits your needs. The unified payment interface and electronic 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 that you are most comfortable with.