Depending on where you are situated in the world, being able to create an account at online betting sites is not the only problem that arises for potential players, but finding banking options that you can actually utilize to fund your account. New laws are continuously passed when it comes to gambling, and some even prohibit financial institutions from processing transactions to online gambling operators. You also have the problem of high fees when using most services and trying to figure out which payment processor you actually can even make use of.
Here you will find a list of the most popular payment processors used by online betting sites and the ones that we recommend and use ourselves.
Many of you probably are used to paying for things online using a credit or debit card, and that is the standard way most people pay for things online. When you are looking to bet online you need to fund your account before you can place your bets, and a natural way to do this would be to pay using your favorite credit card.
As you can see, we have listed different banking options below, all of which are methods we ourselves use and can recommend. But how do you choose which to use for your needs? We will give a brief overview over the different options and what the pros and cons of each are:
This is a new payment method introduced by some of our trusted partners which makes depositing money in your betting account in India quicker and much safer.UPI or Unified Payments Interface allows instant transfer of small amounts between various accounts without revealing any underlying banking credentials.
Most of your mobile wallets and applications like Google Pay, PhonePe, PayTM and local bank accounts already provide you with a UPI id which is something like XXXX@bankaccount / XXXX@walletid
So why is UPI safe? Because if you already have money in your wallet account such as PayTM, none of your banking credentials are shared. Even though if you are using your bank account, in order for money to be deducted from your account, you would still need to login and approve the transaction and none of the banking credentials are shared
On selecting UPI as payment option, depending on the operator you would either be asked to enter your UPI id, and you will receive a payment request; or there would be a UPI id displayed along with reference number on which you can make the payment.
One of the simplest ways to fund your betting account in India is using Netbanking. Using Netbanking in order to fund your betting account is completely safe and is instant. Most of our top rated operators provide you with an option to use your bank accounts for deposit.
In order to use this option, you need to have access to online banking credentials of your bank. This is just like shopping online.
On selecting Netbanking as a deposit option, you are asked to select your bank through which the deposit can be made. All the popular banks like ICICI Bank, HDFC Bank, Axis Bank, State Banks and many more are offered. Once you choose your bank, you are redirected to a payment gateway. You can enter your banking credentials allowing you to login and make payment. You would receive secure OTP’s confirming the amount for which the deposit is being asked for. On confirming this on the website the payment is made.
Because the payment gateways are secured if accessed through the official links on our trusted websites and net banking always requires additional credentials like OTP,there are zero or little chances of any fraud.
It is a bit of a hassle setting up an account at Neteller as you need to verify it and verify your own identity, but once that is done most of the transactions are very swift. The security is very good here as well and we can highly recommend using Neteller if you want to bet on cricket online.
For more information, check out our full Neteller guide to get started transferring funds using this popular ewallet.
Skrill is very similar to Neteller. Actually, now they are both owned by the same company. So why choose the one over the other? Guess it should come down to your personal preferences. Most betting sites allows both at the same time and the fees are mostly the same with Skrill and Neteller. Their VIP programs differ a bit, as well as the design of the sites, but apart from that, same thing really.
UPayCard is an up and coming payment service that is trying to compete with the big dogs like the Paysafe Group and PayPal. And so far, they are doing a pretty good job of it. Since they started up back in 2013 they have slowly, but surely been catching up to the big players in the market and have now really started to accelerate their growth.
At the moment there is only a limited amount of betting sites that offer UPayCard as a payment solution, but that seems to be changing by the week, so do not sleep on UPayCard!
The famous online payment processor is still alive and kicking, and more popular than ever. PayPal is used by millions around the world to pay for goods and services, and most of that is thanks to their excellent customer protection service. If you get scammed paying with PayPal, they will go to long lengths of making amends for you. Besides this PayPal is generally an amazing website, with plenty of great options. Top alternative.
So why use Neteller over PayPal? Because the amount of betting sites that accept PayPal payments are still very small, and it also depends on which region you are situated in. So chances are you can't use them even if you like the look of PayPal. So maybe you need to wait a little longer.
The final option that we would recommend is a bit more difficult to use, but well worth if you take the time to learn about bitcoins. Basically it is like regular currency as USD, INR or EUR, but there are no physical proof of the money. It is all stored and used online. It is very easy to acquire Bitcoins, and you can transfer them immediately to and from your betting account.
Note that you should learn as much as possible about Bitcoin before you start using them. It is very easy to lose them or make mistakes when you are doing this for the first time, I did when I tried out my first 0.01 BTC. Luckily not a lot of money, but it still stings.
There are other methods that you can use to deposit money to online gambling sites if you have tried all of the above or want some other options. Here is a list of some other ways to fund a betting account:
We get a lot of questions regarding deposit options and how to do banking when it comes to online betting, and here we have gathered the most common ones.
There could be many different reasons for why your credit card is not accepted for payment, but the most common one is because the bank you have your credit card with has blocked all transactions to and from gambling sites. Be sure to check the local laws and regulations before you continue trying to deposit using a credit card.
If you are sure that it is allowed and should work, then maybe one of these issues might be the problem:
Many that are betting online have taken up the usage of ewallets. This is a great alternative to credit cards for depositing, that might not be an option in your region, or bank transfers, which takes forever to process. By using an ewallet, you get safer, swifter and better banking options overall when it comes to funding your gambling accounts.
The way an ewallet works is that it basically is an online bank account. You send money to your account here just like you would send money to your friends or pay an utility bill. The reason this often is a good option for some players is that these ewallets allows you to transfer to and from betting sites or online casinos without any restrictions, as well as depositing and withdrawing to and from the ewallet from your local bank account is without restrictions as well, since these are often used for other things besides gambling as well.