How to Deposit and Cash Out – India Banking Methods

Deposit Rupees at Online CasinosThe popularity of online gambling in India has recently spiked to an unprecedented level. Initially led by state of Sikkim licensed myplaywin.com, the more recent growth stems from Indians turning to foreign operated gambling sites. This is because foreign gambling sites are legal from where they operate and are completely out of the reach and jurisdiction of central government. This is much safer than playing at an India gambling site which might run into legal trouble in India.

As far as where to look, well…in the UK gambling on football, cricket or any other sport has been legal since the 1960’s, and in London you can find betting shops as easily as you can Petrol pumps in other parts of the world. For more than a decade now their major betting chains have offered online gambling with casinos, betting sites, poker rooms and bingo halls all on the internet. The good news is Indians are welcomed at many of these sites. The question now becomes, how can Indians deposit and withdrawal at legal European online casinos? This is exactly what I’ll be covering in this article. Allow me to introduce you to the concept of e-wallets.

Credit / Debit Cards and Internet Banking / Wires

The most popular form to deposit money on the internet is via credit or debit cards, but this is not the case in India. Because not all of us have cards yet the most widely used gaming deposit method is still Skrill (mentioned below). Let’s discuss bank wires and credit cards in short. First, any card you use must have a Visa or Mastercard logo on it. For most sites, American Express will not work but it is always worth a shot. Card deposits are not always accepted because of coding issues. When credit cards fail, and you have a bank account I suggest internet banking wires. They are very easy to do any are coded so nobody can tell it is gambling. Also, you can transfer larger amounts.

E-Wallets for Deposit and Withdrawal

An e-wallet is an intermediary between players’ banking methods and gambling websites. The reasons these are an important part of the online casino industry are many. For starters, banks and credit cards prefer not to deal with gambling in any way, shape or form. When depositing with an e-wallet and withdrawing from an e-wallet to your bank account, the bank or credit/debit card is not involved directly with the gambling transaction.

The other benefit is: e-wallets are fast. This isn’t true initially as the verification process to open an e-wallet account takes time. However, once you’re set up you can deposit and withdrawal funds in minutes. This means you can leave money stored online and deposit at anytime with the click of a button, or you can cash out at one site and hours later deposit the funds to another. Without an e-wallet moving funds from one site to another would take a week or longer, as you’d need to wait for funds to hit your bank account and then upload them again. So as you can see e-wallets are great because they are fast.

In addition to anonymity and speed, a third benefit to e-wallets is currency conversion. E-wallets are set up to allow borderless transactions in dozens of currencies, free from government interference and control. For example, even if your e-wallet account only has a rupee balance you can still make payments from it in pounds, euros, dollars or any other currency.

Which Websites Accept E-Wallets

First off the two most popular e-wallets on the market are www.skrill.com and www.neteller.com. Pretty much every reputable online casino in the industry accepts these two e-wallets for deposits and withdrawals.

What you need to know from here, even though all reputable gambling sites accept Skrill and Neteller, not all gambling sites accepting them are reputable. We strongly suggest you stick to wagering at big name sites. A great choice is www.bet365.com because they accept rupee deposits, issue rupee withdrawals and allow Indians to wager online in rupee. However if you look at our right side menu you’ll find four additional recommendations that are friendly to Indians wishing to play online casino games for real money.

For help opening an account refer to our pages on Skrill for Indians or Neteller for Indians.

Other Deposit and Withdrawal Methods

There are many additional e-wallets on the market such as Click2Pay, EntroPay and UK Cash. Most of these e-wallets work, but due to them not being accepted at every website we feel it is better to stick to the two largest gambling friendly e-wallets Neteller and Skrill. In regards to PayPal and credit card, these are a little riskier because banks get to see exactly where your money is being spent. As mentioned earlier, banks prefer not to deal with gambling related transaction.

Final Words on Banking

If you need help opening an account or have questions, first contact the support department of the e-wallet company you are using. From there the support departments of online gambling sites are also knowledgeable about both Neteller and Skrill. While it might be a slight hassle to get your account set up, once it is set up and verified, depositing and cashing at online gambling sites becomes a breeze. We at Casino Online wish you the best of luck with this, and with all your casino and online gambling play. We also strongly recommend www.bet365.com.