Best Deposit Methods for Betting in India
Betting is becoming more and more popular each day. It’s not that surprising, considering the fact that more and more people find the idea of earning money by placing bets and making correct predictions.
However, bets require you to deposit money on your account, so people ask themselves “What is the best deposit method for cricket betting?”. And luckily for you, we will help you answer that question in our review!
Popular Deposit Methods for Cricket Betting
As we have previously mentioned, we have done careful research and will present to you detailed information about all the most popular cricket betting deposit methods. They are:
PayTM
PayTM is a digital internet platform. It allows people from all over the world use their credit cards, debit cards, and other means of payment to transfer cash into their virtual wallets. You can use PayTM to deposit and withdraw money with most bookmakers, letting you place bets.
| Fast processing |
| Accepts a lot of payment methods for depositing |
PayTM requires an upgraded account for a lot of operations
UPI
UPI, or United Payment Interface, is a real-time payment method that is really popular in India. It uses IMPS for fast payments. It is faster than NEFT in transferring money to your account. Because of that, the payment will become much easier without the requirement of the additional e-wallet. UPI was developed by NPCI.
| Security of payments |
| Real-time payments |
| Really easy to use |
Does not work with slow internet connection
PhonePe
PhonePe is a mobile application created for depositing and withdrawing money. It was created in 2015, and it is based on UPI. It is available in 11 Indian languages. This app is licensed by the Reserve Bank of India for issuance. It is available for both Android and iOS operating systems.
| Based on UPI |
| Fast recharge |
Payments are delayed
Visa
Visa is an American transnational company that lets people use it for payment operations. It is the most popular payment method all over the world. Visa existed for more than 60 years now and gets new customers each year.
| Usable worldwide |
| Simple deposits |
| Trustworthy all over the world |
Withdrawals take time to process
MasterCard
MasterCard is similar to Visa. The company exists for more than 50 years now and gained the trust of people all over the world, including Indian people. The company doesn’t prohibit anyone from using it, so all Indian players will be able to easily use it to deposit and withdraw money.
| Known all over the world |
| Transactions are processed really fast |
| All countries accept MasterCard |
Withdrawals take time
Skrill
Skrill was previously known as Moneybookers. It is a digital payment system that is widely used in India. Indian players can safely use it, as it is a licensed payment system. It operates for more than 20 years now and has a really low conversion rate. There are over 40 currencies that you can use, INR included.
| Allows you use cryptocurrency for payments |
| Accepted worldwide |
| Accounts are opened easily |
| Payout fees are high |
| The verification of the account may be problematic |
Neteller
Neteller is similar to Skrill, as it is also a digital payment system. You can also use cryptocurrency for both withdrawals and deposits, and there is a wide range of available ones too. It is available to anyone that wishes to use it, and is widely popular among Indian people.
| A lot of bookmakers offer Neteller |
| Transfers take little time |
| Customer support takes time to answer |
| Conversion fee is pretty high |
NetBanking
NetBanking is an online payment system. It is widely used in India and allows you to make payments for bookmakers by using a bank transfer. It uses banking services on the Internet all over the world and is owned by banks and financial institutions.
| Available 24/7 |
| Easy to use |
Won’t work without Internet connection
AstroPay
AstroPay is an online payment service that offers its functions ever since 2009. It lets people use over 200 payment methods for depositing and withdrawing. It has managed to gain the trust of millions of people thanks to its guarantee of security. It is also considered one of the most popular payment methods in India.
| Payments take little to no time to process |
| Has a mobile application for both Android and iOS |
| Great security |
Not a lot of currencies to choose from
Google Pay
Google Pay is a digital payment system created by Google. It is available in both Android and iOS mobile versions and allows people from all over the world to use it for deposits and withdrawals of money. This payment method is supported by most Indian bookmakers.
| Transfers are fast |
| Google Pay is secure and safe to use |
| No extra charges |
| Customer support could use some work |
| Some credit cards are not supported by Google Pay |
EcoPayz
EcoPayz is available in 159 countries and offers 45 currencies. It is widely used by Indian people and was founded in 2000. Most bookmakers allow their players use ecoPayz for depositing and withdrawing money.
| Payments are quick and easy |
| Money transfers within ecoPayz are instant |
| The platform is really easy to use |
Lots of account limitations
EazyPay
EazyPay is a really popular Indian payment method that is controlled by the state and lets people make transactions fast and easy. You will have no problem using it for paying, as well as transferring money to fund your account. A great advantage of EazyPay is that it also works offline.\
| A reliable payment system |
| Intuitive usage |
| Fast payments |
Accepts only ICICI clients
MuchBetter
MuchBetter is a digital system that lets you pay for goods and services, as well as deposit money to your betting accounts. Tons of bookmakers support this payment method and let players use INR in it.
| Low exchange rates |
| Great safety and security |
| Apps for Android and iOS are available |
Certain limits are present
MobiKwik
MobiKwik is considered one of the most popular digital payment methods in India. It allows players to send and receive money with bookmakers and provides great security.
| Easy to use |
| Apps for Android and iOS |
Customer support is slow
Trustly
Trustly is widely known in India for it letting people use it to deposit and withdraw money for bookmakers. It is available in 29 countries, and India is one of them. Trustly was founded in 2008.
| Directly connects with banks |
| Available in most major banks |
Bank login is required every time
Cryptocurrency
There are tons of cryptocurrencies in the world right now, and most of them are available for deposits and withdrawals when it comes to betting. It is very easy to use, and it provides all currencies including INR, except in digital form. Each bookmaker offers at least one cryptocurrency.
| Protection from scamming |
| Potential for greater returns |
| No refunds |
| High volatility |
Betting with Indian Rupees
We can all agree that using the currency that you constantly use, it’s much more convenient and comfortable. It would be much harder for you to try to adapt to the currency you are not using.
And while bookmakers provide tons of deposit and withdrawal methods, it is also important for the bookmaker to provide the currency that you’re familiar with, specifically, Indian Rupees. Most of the time, bookmakers let people choose the currency as they register an account. There are tons of currencies that you can choose from, and 9 times out of 10, you will be able to find Indian Rupees.
How to Deposit on a Betting Site in India?
Now that we have covered all the most popular deposit methods in India, the question of how to use them rises. And if you don’t know how to start using any of these to deposit money on your betting account, then don’t worry, we have prepared for you detailed instructions for deposits. All you need to do is:
Visit the bookmaker.
All bookmakers use the website, but some of them have mobile apps for Android and iOS. Choose the one that you want to use, and visit the bookmaker;
Create an account.
For depositing, you will have to create an account. This is done by clicking the “Register” button;
Fill in the details.
The bookmaker will ask you to fill in some of the personal information, so do that and proceed to the next step;
Click “Deposit”.
Once you finish the registration and get logged into your account, a “Deposit” button will appear. Click on it;
Choose the deposit method.
Each bookmaker has different deposit methods, so choose the one that suits you the most depending on the bookmaker;
Specify the amount.
When you choose the payment method, all that’s left to do is to enter the amount you wish to deposit and confirm it.
Now, all you have to do is to wait for the deposit to appear on your account. They usually don’t take more than 15 minutes.
How to Withdraw Money?
The deposit process is covered, but what about withdrawals? How do we withdraw our winnings from our account?
There is nothing hard about that either, and all you have to do is:
Visit the bookmaker.
Use the website or open the app;
Log into your account.
Enter the username and password in the respective columns;
Visit your personal cabinet.
You will be able to find the “Withdrawal” button there;
Choose the withdrawal method.
Each bookmaker has different withdrawal methods, but usually, the withdrawal methods of the bookmaker are the same as the deposit methods. Choose the one you wish to use;
Enter the amount you wish to withdraw.
Simply enter how much you want to withdraw, and confirm the withdrawal.
Now, just wait. Depending on the bookmaker, you will have to wait from 15 minutes to 3 banking days.
Do Indian Betting Sites accept Cryptocurrency?
To put it simply – yes, Indian betting sites accept cryptocurrency. Each bookmaker has at least one version of cryptocurrency for both depositing and withdrawing, however, usually, there are multiple ones offered at the same time. Some bookmakers even have more than 10 cryptocurrencies for use. The most popular ones that the bookmakers provide are:
- Bitcoin;
- Tether;
- Ethereum;
- Dogecoin;
- Litecoin;
- XRP;
- Cardano;
- USD Coin;
- BNB;
- Wrapped Bitcoin etc.
The reason that bookmakers provide cryptocurrency is that each of them is really secure.