With the rising popularity of betting sites in India, there’s also been a rise in the number of payment options available to choose from. And with so many choices, it’s hard to pick a banking option that’s best for you and your betting needs. Here are the best payment methods to make this choice easier for you.
Best Payment Methods to Choose When Betting
You probably wonder what makes these payment options the best and how we chose them. There’s a reason these banking methods are the most popular in India. They’re safe, incredibly fast, and very convenient to use.
UPI
The government-backed digital payment system known as the Unified Payments Interface (UPI) has completely changed the banking sector in India. With this betting payment option, the bookmaker won't need to know your personal or financial information. UPI is a real-time, round-the-clock payment system. UPI online bank features an instant transaction processing time, which makes playing more convenient. It only requires activating a UPI account with a bank that is affiliated with UPI, and you can use it. Practically all fast withdrawal betting sites offer this method because of its instant money transfers and low costs. You might need to do an additional KYC to use UPI on betting sites, but the hassle is worth it.
Paytm
Paytm is India’s very own eWallet that introduced the country to the concept of digital wallets. Besides working super smooth and fast, depositing money into this eWallet is quick and straightforward, and using the platform is free. You can even finance your Paytm account in a variety of ways, and cash is also an option. Just find one of the Paytm vendors in your area and fund your account. Moreover, you can also deposit money into your Paytm account using NetBanking. Last but not least, this eWallet is one of the safest payment options, is open to everyone, offers instant transactions, and has no transfer fees. The only downside to this payment option is that their KYC process is very strict.
Neteller
Neteller is another top-tier digital wallet with a global presence, which is only one of the reasons bettors in India love it so much. To guarantee that all of your transactions are secure, the wallet includes a number of cutting-edge protections like fingerprint identification and 256-bit encryption. The company is owned by Skrill, but no matter if you have a Skrill account, you’ll need to create a separate one to use Neteller. The main drawback of this eWallet is that it charges a withdrawal and deposit fee. However, Netteler allows you to make payments through UPI and Visa, which trumps the drawback.
Skrill
Skrill may be one of the best-known eWallets and the most widely accepted payment option in the world. Skrill accounts are free to open, and it offers great security features, private online payments, and straightforward deposit and withdrawal protocols. To make secure payments at Skrill betting sites, you can top up your Skrill wallet using any offered payment option. The platform charges a fee for every deposit, but the service is so safe that users usually don't mind it. Skrill can be used for a variety of payments, but it's used to deposit or withdraw money from sports betting sites in more than 90% of the cases.
VISA and MasterCard
Although credit and debit cards are the slowest payment method, a large number of Indian bettors prefer using them, and VISA and MasterCard are the two most popular options. Besides being incredibly safe, another benefit of having a VISA or MasterCard is that you can fund a third-party e-wallet with it before making a deposit or a withdrawal at a betting site. Additionally, the vast majority of sportsbook providers accept these cards as a form of payment. There won't be any additional fees for your transaction, so there's no need to prepare for them.
Since there is no one-size-fits-all payment method, we recommend that you try out all of the above, choose your favourite, and start your betting journey!
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