Depositing with Credit / Debit Cards in Indian Betting Sites

There are very few Indian betting sites that are capable of delivering a world-class platform that incorporates all the different aspects of sports betting or betting on other subjects. Of course, there is also a legal aspect to consider while launching a dedicated betting website in India. Therefore, choosing an international bookmaker becomes the only option for most regular or mainstream punters. However, there still arises the concern about how one can fund their bookmaker accounts through legal, secure, and cost-effective channels. In that context, credit or debit card payments are undoubtedly some of the best payment options in the market, and we will attempt to elucidate all the essential details about depositing with credit/debit cards in Indian betting sites or at international bookmakers.

Bookmakers offering payments with Credit / Debit Cards
Last Update 18 / 08 / 2023
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₹90 No limit within 5 minutes visit Review
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The Different Types of Credit or Debit Cards Used for Betting Payments

The credit or debit cards market is primarily a duopoly between Visa and Mastercard, while other companies such as American Express, Discover, and Diners Club have made very limited inroads into the massive market share held by two of the largest companies in the payments industry. Continued innovations in security & encryption protocols, global payment solutions, e-commerce support, and instant transfer of funds are some of the significant advantages of choosing a credit or a debit card to make a payment to any third-party service provider.

Cards are available in different forms, namely, a credit, a debit, a prepaid, and a virtual prepaid card. A credit or a debit card is your conventional plastic cash that can be carried in your wallet or purse, while the virtual one is issued by an online money transfer service, where you can load cash into your virtual card and use it to make payments to online merchants or sports betting websites. A prepaid card, on the other hand, can either be in a physical form that resembles the traditional credit/debit card or can be issued as a virtual card that can be tied to an e-wallet or purchased independently. ecoPayz, AstroPay, and Neosurf are some of our most recommended popular online virtual card service providers that can be used for sports betting-related payments.

The Pros & Cons of the Different Types of Cards

Betting with Credit / Debit Cards online

There are several advantages and drawbacks that are associated with the different types of cards that are available in the market. A credit card provides you with a line of credit in exchange for a fee or interest, while a debit card allows you to make a payment up to the maximum amount available in your bank account, or the maximum limit on your card. A credit card is great if you are running short on finance, but on the flipside, you will have to pay interest on every rupee or dollar that you draw. A debit card eliminates any interest or exuberant fees, but you will be burdened by limits that are enforced by the card, the bank, or even your bank balance. Regardless, we have seen that almost all bookmakers in the industry accept all the popular forms of debit/credit cards, which means that you can choose your favourite online sportsbook from the countless options that are available in the market, without any restrictions.

If you are more concerned about the privacy or security aspect of your primary payment methods, virtual or prepaid cards may be more preferred for online betting payments, as they add an extra layer of security and anonymity over your personal financial information. You can load your preferred amount of cash into your virtual card and then use it to deposit funds at your bookmaker, thereby preventing the company from stealing your primary credit/debit card information or bank details. It also provides an additional layer of protection for Indian punters, as they can avoid their bank or card issuer from knowing the real purpose of payment. However, the fees of purchasing a prepaid card may be higher, and not all bookmakers accept payment through a virtual or prepaid card. Prepaid cards are also banned in India, as users cannot withdraw the funds through an ATM, but they can purchase such cards through online sources, and use them for international transactions.

Security of Payments

All forms of card payments are secure and are carried out through payment interfaces that employ 128-bit SSL encryption technologies or higher. Nowadays, users can add two-factor authorisations to their cards for increased security, which should keep your financial information, payments, and card details safe from prying eyes. Prepaid cards are highly effective in promoting security and anonymity of transactions, especially if you are worried about the legal implications of online betting in India.

Fees of Payments

It is quite natural that the costs for a credit/debit card payment are quite high, compared to other forms of payments such as e-wallet deposits. However, it is inherently cheaper than bank wire transfers, but you should expect to pay anywhere from 1.5% to 10% of the transaction amount, depending on your card, your location, currency exchange rates, and the choice of the bookmaker.

Some of our recommended online betting websites allow Indian bettors to deposit funds in INR, which can take care of the fees that are usually associated with currency conversions, but a few of our recommended sports betting companies may reimburse the entire fees of deposits by crediting it into your bookmaker account in the form of deposit credits. Read through our individual bookmaker reviews to find the best sportsbook that facilitates a cost-effective and secure card payment.

Depositing with a Credit/Debit Card

A credit card deposit is one of the easiest funding options that are offered by a bookmaker. For instance, all you have to do is sign-up/ register for an account at the sportsbook, if you haven’t already done so, and then proceed to the ‘Banking’ or ‘Payments’ page to choose the credit/debit card option. You will be taken straight to the payment processor interface, where you should enter your information, CVV, PIN, and other personal information, along with the payment amount that you wish to deposit. Since most providers use two-factor authentication, you will be sent a One Time Password via mobile or email to confirm/verify your payment, which should be entered into the payment confirmation page to complete the transaction. The amount of payment will be credited instantly into your betting account, minus any fees, plus any bonuses if you have opted for welcome or promotional offers.

Withdrawing Funds to Your Debit/Credit Card

Depositing with a Credit/Debit Cards

Card payments are also eligible for withdrawable to your debit or credit card, but it must be pre-authorised by completing a personal identity verification form. You must send a copy of your identifying document, a recent utility bill and the CVV info, to the bookmaker, who will then verify your identity and card to unlock your account for withdrawal. The verification process can take anywhere from 24 hours to up to 10 working days, after which, you can proceed to initiate a withdrawal.

However, it is vital to note that only credit and debit cards are eligible for a withdrawal, as payments made using a virtual or prepaid card can only be withdrawn to a bank account or an e-wallet, depending on the payments policies of the bookmaker. You should always verify your funding options and withdrawal methods with your account manager before making a deposit, or you can read our online sportsbook reviews to get detailed information about individual withdrawal policies.

Why Should You Use a Credit Card or a Debit Card to Deposit Funds at an Online Bookmaker?

There are very few funding methods that come close to a debit/credit card for making an online payment to a merchant, whether it is a sportsbook or an e-commerce site. Most payments are highly secure, fast, and convenient, which adds to the appeal. However, you must be careful while using your Indian credit or debit card at an online betting website, as there is a considerable risk that your transaction may be flagged as an illegal activity, which will lead to your account or card being blocked. You may also be prosecuted for breaking the law, including hefty penalties and unwanted legal hassles. In those cases, you can always consider the option of prepaid virtual cards, where you can leave the worry out of gambling-related payments and enjoy sports betting at its finest.

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