Online Casino Payment Methods in India

One of the most common concerns that Indian players have when it comes to playing real money online casino games is whether they will be able to deposit and withdraw their funds easily. Our expert team at CasinoWings addresses these concerns and gives you a detailed review of the many online casino payment methods in India.

You will find all the popular payment methods that online casinos offer Indian players such as debit and credit cards, e-wallets, online bank transfers, prepaid cards and cryptocurrencies. We look at the most popular payment options under each of these categories and review the pros and cons of each method. With this unbiased information you will be able to make a quality decision as to which payment option will work best for you.

It is important to note, that while there are multiple casino payment options available in the Indian market, some online casinos tend to restrict themselves to certain options only. We explain why it is important to find an online casino that has an impressive selection of payment methods. Finally, we give you the key factors to consider when deciding which online payment method you should choose.

The importance of selecting the right payment method

A lot of Indian players who are new to the online casino market tend to make a critical mistake when it comes to selecting their payment method. They simply go with the most popular or most convenient payment method that they are aware of. While choosing a well-known payment method is definitely important, there are so many other factors that you should take into consideration. We list some of them below.

Deposits: Most of the top online casinos in the Indian market ensure that all of their payment options provide instant deposits. This is a big positive for both the online casino and the player. The online casino is keen on accepting a real money deposit as fast as possible and the player wants to complete his deposit and start playing immediately.

Once you have confirmed that your deposits are instantaneous, you then need to look into whether there is a transaction charge to process your deposit. You also need to check out what is the minimum and maximum deposit amount allowed at the casino and whether the online casino will accept deposits in Indian rupees (INR).

Withdrawals: While deposits tend to take place instantly, withdrawals almost always take more time. How much, depends on the payment option you are using as well as the online casino’s payment policies. Always make sure you check out the processing fees associated with each payment method, the minimum and maximum withdrawal per day, the minimum and maximum withdrawal per week and the minimum and maximum withdrawal per month.

You should also find out whether you can withdraw your winnings in INR. If no INR withdrawals are offered, then do take the time to check out the currency conversion charges that will be applied.

How CasinoWings evaluates payment methods

Our team of reviewers at CasinoWings uses a number of strict criteria to evaluate and shortlist the best online casinos for the Indian market. One of the key factors is the selection of payment methods offered by the online casino. Our casino review experts only shortlist online casinos that have the minimum industry standard requirement when it comes to online casino payment methods.

If the online casino has an impressive gaming portfolio, good bonuses but limited casino payment options, we will not feature the online casino on our list of featured casinos for the Indian gaming market. We only shortlist online casinos that offer all of the popular banking options such as credit/debit cards, e-wallets and selective cryptocurrencies that have a wide appeal to the Indian market.

We prefer to select online casinos that allow players to deposit and withdraw funds in INR. This is because we know that Indian players are keen on signing up at online casinos that have INR as one of their currency options. The big plus of playing at an online casino that has INR friendly banking option is that players don’t have to worry about cross currency conversion charges.

Online casinos continue to be a prime target for cyber criminals and hackers who may try to illegally access the casino and steal personal and financial data. This is why we make sure to check the online casino’s commitment to safety and security, firewalls and encryption protocols so they can protect their player’s personal and financial information. We only recommend online casinos that provide players with robust financial security and safety measures.

Keep reading for our recommended list of common payment methods used in the Indian online casino market and a detailed breakdown of these different payment categories. This will help you make an informed decision on which payment method works best for your style of play.

E-Wallets

In recent years, Prime Minister Narendra Modi and his BJP government has pushed India to move from a cash driven society to a cashless society. This been the single biggest factor in boosting the popularity of e-wallets in India. The push to digitize India has forced the average Indian to switch from the trusted credit/debit card to popular e-wallets like Paytm and PayPal.

Indian players will find it extremely easy to deposit and withdraw funds at an online casino using an e-wallet. All you have to do is go to the online casino’s banking page, select which e-wallet you would like to use and follow a simple step-by-step process to link your e-wallet and your online casino account.

When you want to make a deposit or a withdrawal, you will have to enter the login and password details for your e-wallet account, select the amount you want to deposit or withdraw and click complete. It is as easy as that!

The most common e-Wallets in India

There are a number of popular e-wallets in the international market but not all of them are accepted in the Indian casino market. We take a look at four of the most popular e-wallets that are used at online casinos in India.

  • Paytm

    Paytm is by far the most popular e-wallet used in India. Paytm took off after the government’s demonetization drive in November 2016. The Indian based e-wallet has more than 350 million users across the country and Paytm is popular in both urban and rural India.

    Online casinos that have Paytm as a payment method will see more activity with this e-wallet than any other e-wallet. All Paytm deposits are processed instantly, while withdrawals from Paytm to your Indian bank account can take 48 to 72 working hours. The minimum Paytm deposit is 100 INR and the max deposit is 5000 INR. The max withdrawal to a bank account is capped at 25,000 INR.

    Pros:

    • Over 350 million users
    • Mobile app
    • Easy to use

    Cons:

    • Limited deposits and withdrawals
  • PayPal

    PayPal is arguably the second most popular e-wallet in India, as the American based payment processing firm has been servicing the Indian market for well over a decade and has built up a strong subscriber base in India. PayPal is widely used in urban India as the preferred e-wallet.

    The account creation process for PayPal can be a bit tedious as the verification procedure is lengthy. You will have to submit your Aadhar card and your PAN card. There is no fee collected to deposit funds into your PayPal account. If you withdraw funds over 7,000 INR, you pay no fee. If it is less than 7000 INR, you pay a 50 INR. Do note that there is a 2.5 percent fee imposed on all domestic transactions plus 3 INR.

    If you are converting funds into INR, then be prepared to pay a big fee as PayPal imposes a very high currency conversion fee. We suggest using PayPal only at online casinos that accept INR.

    Pros:

    • Mobile app
    • Robust security
    • Widely accepted

    Cons:

    • High currency conversion fees
    • Lengthy verification procedures
  • Neteller

    Neteller is the third most popular e-wallet used in India and is very popular at Indian facing online casinos. The minimum deposit is fixed at 350 INR and the max deposit is set at 22,500 INR. Neteller is very simple to use and has a mobile app for Android users. A deposit fee between 1 to 8 percent is charged and a withdrawal fee of 3.99 percent is imposed.

    Pros:

    • Mobile app for Android
    • Easy to use
    • Growing user base

    Cons:

    • Deposit fee
    • Stringent deposit limits
  • Skrill

    Skrill was formerly known as Moneybookers which was quite popular in India. Skrill has a niche user base in India and is facing stiff competition from Paytm and PayPal. A number of online casinos accept Skrill because it is one of the safest and secure e-wallets in the world. There is no minimum deposit while the max deposit is capped at 70,000 INR.

    Pros:

    • Mobile app
    • No min deposit required
    • Easy to use

    Cons:

    • Niche subscriber base

Debit and credit cards

This is one of the most trusted and used payment methods across India. India has seen a surge in new bank accounts under PM Narendra Modi and hence the debit/credit card usage in India has grown significantly during the last 5 plus years. Most banks in India don’t have very strict procedures to issue credit cards with low spending limits. This has also helped Indians who are under the low income bracket to get a credit card.

Indian players will find it very easy to use their debit and credit cards at an online casino. The OTP verification procedure gives them additional security and protection against unauthorized use. Almost all Indian facing online casinos accept credit cards.

 The most common debit and credit cards in India

The two most commonly used debit and credit cards in India are Visa and MasterCard. However, some banks continue to issue Maestro, Rupay and American Express. We take a look at three of the most popular credit and debit cards in India.

  • MasterCard

    MasterCard has over 990 million users in India which include both debit and credit cards. There are over 8 million vendors who use MasterCard throughout India and most online casinos have no problem accepting MasterCard. The deposit and withdrawal limits vary depending on the type of MasterCard you have with you. For example, a gold MasterCard and a platinum MasterCard have different limits. MasterCard charges a 0.1100 percent charge on all transactions.

    Pros:

    • Over 990 million users
    • Widely accepted
    • Low transaction fees

    Cons:

    • Must disclose personal and financial info
  • Visa

    Visa is the second most popular international payment card that is used in India after MasterCard. Just like MasterCard, Visa Card also has a number of different cards categories and the charges and limits vary based on each card. Visa credit cards are more popular than Visa debit cards in India. Visa charges a 0.1100 percent charge on all transactions.

    Pros:

    • Very popular in India
    • Low transaction fees

    Cons:

    • Must disclose personal and financial info
  • Rupay

    The big difference between MasterCard, Visa and Rupay is that the first two cards are international cards while Rupay is an Indian payment provider. Rupay has grown exponentially in the last few years and there are now over 300 million Rupay debit cards in India. There are three types of Rupay cards which are Classic, Select and Platinum. Rupay charges the merchant a transaction fee of 0.01 percent.

    Pros:

    • Mobile app available
    • Made in India
    • Over 300 million cards

    Cons:

    • Must disclose personal and financial information

Cryptocurrencies

While the global cryptocurrency market has exploded in the last few years, India’s cryptocurrency market has grown slowly because the government and the Reserve Bank of India (RBI) have been against the use of cryptocurrencies. In fact, India is looking at passing a new law that will ban the use of cryptocurrencies and take legal action against any cryptocurrency user in India.

There is no clear indication as to when this law is going to be rolled out and till then, Indian cryptocurrency users will continue to make the most of cryptocurrencies. The number of players using only cryptocurrencies at casinos in India is relatively small.

The most common cryptocurrencies in India

Most crypto users in India tend to go with Bitcoin (BTC) or Ethereum (ETH) which is no surprise they currently sit as the top two cryptocurrencies in the world. A lot of Indian crypto users buy Ethereum and Bitcoin as investments and a limited number of them use crypto to play casino games.

  • Bitcoin

    Bitcoin’s popularity in India surged in 2018 when BTC crossed the $15,000 mark and soared in early 2021 when Bitcoin crossed the $50,000 mark. Given the high value of Bitcoin against the Indian rupee, only a niche group of Indians are able to invest in Bitcoin and use Bitcoin to play at Indian casino sites.

    Pros:

    • Most popular cryptocurrency in India
    • All crypto friendly casinos accept Bitcoin

    Cons:

    • Very volatile
    • India looking to ban cryptocurrencies
  • Etherum

    While most Indians interested in cryptocurrencies prefer to invest in Bitcoin, some of them are turning to Etherum as ETH is a lot more affordable to the Indian wallet. Since ETH is the second most popular cryptocurrency in the world, many Indian facing online casinos tend to offer both Bitcoin and ETH as part of their cryptocurrency options. There are no ETH limits imposed in India as of now.

    Pros:

    • Much cheaper than Bitcoin
    • Most crypto friendly casinos accept Ethereum

    Cons:

    • Less number of ETH users
    • India looking to ban cryptocurrencies

Pre-paid cards

Prepaid cards are popular in America and the European Union but they are not very popular with Indian users. With that being said, there is a niche group of users in India who prefer pre-paid cards as it helps them to control their spending when it comes to certain activities like shopping and online casino games.

This niche group of pre-paid card users in India tends not to go with popular global pre-paid cards like Ecocard, PaySafeCard and Astropay. They prefer to go with domestic pre-paid cards that are issued by top Indian banks such as ICICI Bank, HDFC Bank and State Bank of India.

Pros

  • Easy to get
  • East to use
  • Easy to top up again

Cons

  • Less number of users

Bank transfers

Bank transfers continue to be one of the most popular payment methods amongst Indian players till date. Indian users prefer online banking transactions as it gives them control over what is going in and out of their accounts. They also prefer the double verification process involved which uses a password and OTP. Most bank transfers can take between 2 to 3 working days.

The most common bank transfers in India

The most common online banking payment method in India is net banking. Users prefer to use their bank’s net banking platform to make deposits and withdrawals online. Since all Indian banks have their own mobile banking app, it makes it easy for players to quickly deposit and withdraw funds while on the go using their mobile banking app. We take a look at the top two online banking methods used in India.

  • Netbanking

    All of the top domestic and international banks in India offer customers online banking privileges – or net banking as it is popularly known. Most of these banks also allow customers to download mobile banking apps for Android and Apple devices. Netbanking transactions usually take place within 24 hours when you are transferring from one bank to another. When you transfer to the same bank, it is usually credited immediately. Netbanking transfer limits usually depend on your account status.

    Pros:

    • Easy to use
    • Mobile app
    • Good security protocols

    Cons:

    • No immediate transfers to online casinos
    • Not all banks are supported at online casinos
  • UPI/IMPs

    Unified Payments Interface (UPI) was developed by the National Payments Corporation of India to carry out inter-bank transactions. If you are looking to transfer funds between two different banks, it is best that you use the UPI system. The UPI app is available for download on the Android app. UPI charges a 2.9 percent fee when you transfer money for payment purposes but no fee when you transfer cash to family or friends.

    Pros:

    • Mobile app
    • Easy to use
    • Low transaction fees

    Cons:

    • Not as popular as Netbanking
    • Limited online casinos offer UPI as a payment option

Mobile pay

Mobile pay refers to payments that are carried out via your mobile device. Mobile pay is not as popular as net banking in India as it is mostly the younger generation which engages with mobile pay. Mobile pay is very convenient since it allows you to carry out digital payment transactions which means you do not have to worry about carrying cash or cards. While there are a few mobile payment providers servicing the Indian market, most users prefer to work with a trusted mobile payment provider like Google Pay.

The most common mobile payment methods in India

The most widely used mobile payment method in India is Google Pay.

  • Google Pay

    Google Pay is the number one choice for a mobile payment provider in India simply because more Indians use Android phones than any other mobile platform. The Google Pay app can be downloaded for free from the Google Play Store and it takes just a couple of minutes to set up your payment process. You can transfer a max of 100,000 INR per day.

    Pros:

    • No need to carry cash or cards
    • Can make purchases online, with apps or in-store
    • Secure payment process

    Cons:

    • All transactions are tied to your device
    • Problems when your battery dies or you lose your phone

FAQ

  • Technically speaking, cryptocurrencies are the safest online casino method in India at the moment. This is because cryptocurrencies like Bitcoin operate on a decentralized network: you do not need to disclose your personal or financial information to the online casino provider. However, given the fact that the Indian government is planning to ban cryptocurrencies in the near future, we suggest using an e-wallet as the next best option. Just make sure you use a robust password to protect your e-wallet and online casino account.

  • No, you will not be able to use another person’s bank card to fund your online casino account. You will have to go through a Know Your Customer (KYC) process to verify your identity and address. The online casino will be able to match this information to your bank card info. If they find that you have used another person’s bank card, they have the right not to pay out your winnings and even suspend your online casino account.

  • The fastest online casino payment method is crypto. Online casinos accept instant deposits via BTC and ETH. Withdrawals are also usually credited immediately to your crypto wallet, but do keep in mind that there may be a processing time involved for the casino to process your withdrawal request. Since cryptocurrencies are frowned upon in India, the next best option is an e-wallet like Skrill or Neteller.

  • You will need to go to the banking page and proceed with a withdrawal request. Make sure you complete your account verification process before requesting your first withdrawal. If you do not complete an account verification process, your withdrawal will be delayed till your account gets verified. You will have to submit your ID and address proof in order to complete the Know Your Customer (KYC) process. Once your account is verified, you can put in a withdrawal request. New players who have used a welcome bonus or any other bonus should make sure they have met the wagering requirements associated with the bonus before requesting a withdrawal.

  • For privacy reasons, most players do not want the name of the online casino operator appearing on their bank statement. Whether the online casino name appears or not depends entirely on which online casino you have registered with and what billing name they use. Most online casino operators are aware of their players’ need for privacy and use a professional and neutral billing name, which does not refer to online gaming.

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Daniel Tafvelin
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