Payment Methods – The Best Indian Payment Methods For Cricket Betting
Cricket is the number one game in India. For most Indian cricket enthusiasts looking to gamble on the events available, payment processing can be an issue. In this post, we look at some of the payment methods available that allow gamblers to fund their betting accounts and withdraw from the same after winning.
Types of Payment Methods
Any form of payment that Indians make to a casino will be in the form of online transactions. The main reason for this is that Indian law does not allow gambling, but there is no outright law that prohibits online gambling. This means that the option to use cash payments is not available. For gamers who prefer to bet on cricket events, the following are some of the payment options available to them and what to expect.
When the internet became commercial in the 90s, and online gambling on cricket events became a thing, credit and debit cards were the main form of online payment available. All online casinos enabled this feature and still do because the level of trustworthiness of this online payment guarantees both the gambler and the casino in question. Some of the popular cards available for use when live betting on cricket online include the following.
The main disadvantage of using this type of payment method is that the gambler may have to wait up to a week before payment is processed.
This is the new frontier in online payments in India currently. Mobile payments allow the transfer of funds from one bank account to another through a mobile interface. All that one needs is a UPI code that enables the movement of funds between the said accounts.
Mobile payments are becoming more common in most online casinos in India. The main reason for this is that the payments are fast and do not require that much authorization. On most cricket gambling platforms, processing a payment via a mobile payment channel takes between a few hours to an entire day. This feature has seen more gamblers register for the mobile payment services, and the casinos partner with more such service providers to ensure that their customers enjoy the convenience. Some of the mobile payment options available in India include the following.
- Google Pay
- Airtel Money
The only disadvantage of using mobile payment options is that they have maximum limits that a person cannot transact more than in a single day.
Also known as online wallets, these are electronic payment gateways that allow users to make payments from one person to another across the internet. The benefit of using these payment channels is that there are fewer bureaucracies. Thus one can send funds fast and conveniently. Some of the online e-wallets available in India include the following.
The main disadvantage of using this payment gateway when betting on cricket events is that they are not very popular in India. Therefore, it is not rare to find that some of the go-to gaming platforms do not list them. Additionally, server delays are quite common and can inconvenience the gamer.
Bank transfers occur when the player decides to automatically transfer funds from one bank account to another without using a third-party interface. This method of transferring funds is popular among high roller cricket gamblers in India. It allows them to move vast amounts of money in one go, and at times, for free.
The method is also commonly referred to as wire transfer. It takes prominence mostly in instances when the player uses the same banking service provider as the cricket betting site in question. Wire transfers are fast and instantaneous in some cases. The only disadvantage of using this payment gateway is that your transaction can quickly be flagged off as a betting payment and thus blocked.
Cryptocurrencies are another form of online payment that is growing in popularity on most Indian cricket betting sites. The main reason why they are becoming a favorite for most gamers is the security attached to the use of the services. Additionally, the limits are high and thus suitable for most high rollers. Some of the cryptocurrencies available for use in Indian betting sites include the following.
While cryptocurrencies continue to set the pace on how online payments are to be done in the future, their main disadvantage is legislation. Most of them operate without legal licenses.