If you want to find a good online casino, make sure to check the list of all payment methods available. It is quite common that punters get so excited for bonus offers and flashy games, they forget they also have to make a real money deposit. After registration, they face the harsh reality of having a limited selection of methods, many of whom don’t even support deposits in INR, which means additional costs and transaction fees on every payment and withdrawal you make.
Of course, players who do their research, have no difficulties as they can simply use their credit cards, eWallets or Bitcoins, in case they decide to play at gaming sites.
To help you understand every payment method available in India, we created a small list that will surely come in handy.
Cryptocurrencies are, for many, still unknown territory. Unlike all the methods mentioned above, payments in cryptos have nothing to do with fiat currencies like EUR, USD or INR. Cryptocurrencies are an alternative to traditional currencies, and therefore, represent an innovative and highly advanced payment method, with no central system. For instance, if you want to deposit in INR or USD, you can use the same payment method – credit card. But if you want to deposit in Ethereum, the entire process takes place on a completely different interface than when you deposit in best Bitcoin casinos that accept Indians.
Some casinos offer an alternative approach and connect you directly to specialized online exchanges where you can simply get Bitcoin, Litecoin, or any other cryptocurrency in exchange for your EUR, INR, or GBP. Some of the most popular cryptos in the casino industry are Bitcoin, Litecoin, Ethereum, Dash, Bitcoin Cash, Ripple, and so on. However, before you run over to the closest crypto casino, keep in mind that these are highly volatile currencies.
Good sides: low transaction fees and minimum deposit limits
Bad sides: highly volatile, expensive
Bank or wire transfer is one of the oldest payment methods in the world. Developed in 1872 by Western Union, it is as simple as it can be: the sender simply selects the amount they want to send, and the receiver gets the money the next day, thanks to the operator (most commonly – a bank). And while bank wire is simple, straightforward, and incredibly safe, it is also one of the slowest methods available. Besides, online casinos usually charge high fees on bank wire withdrawals that go as high as $70, which can highly affect your payouts.
Good sides: easy to use, safe
Bad sides: slow and expensive
Credit and Debit Cards
Credit and debit cards such as Visa, MasterCard, Visa Electron and Maestro are available in almost every casino but aren’t always supported for punters with residence in India due to the Payment Settlement and Systems Act, despite the fact the Act is not being enforced to the full extent. As international companies, online casinos often find it easier to offer alternative methods to Indians, but there are still several of them who provide instant, efficient and cheap deposits, and withdrawals via credit cards. The casinos that accept Indian credit cards are usually licensed and operate legally, thus meaning they also comply with the above-mentioned Act.
Good sides: widely available to many Indians
Bad sides: not accepted in all online casinos
Skrill, Neteller, PayPal, ecoPayz, AstroPay – new eWallets pop up so often, it has become quite difficult to keep track. But what are they exactly? Well, to put it simply, eWallets are special platforms where you can deposit a small amount, and transfer the money from there, so that casino (or any other website) never knows your credit card information. This makes them very safe and reliable, especially if you use premium platforms like the ones mentioned above. eWallets often offer special debit cards you can use on any ATM nearby and are generally considered to be innovative, easy to use, and fast.
Good sides: instant deposits and withdrawals, low handling fees
Bad sides: not suitable for punters who are not tech-savvy
Online casino players from India can easily use vouchers to deposit their money. This method is known to allow completely anonymous money transfers, as the payment is never visible on the bank statement. Vouchers come in the shape of a ticket or email that you purchase at your local vendor or online. During the depositing process, you simply have to type the code available on your ticket and money will be immediately transferred to your casino balance. While this method has many great characteristics, it doesn’t support withdrawals, which means you will have to find an alternative method to get your hands on your winnings.
Good sides: anonymity, low fees, instant deposit
Bad sides: no withdrawals possible.