When online gambling of any sort is discussed in India, the first question which people ask you is either “How do you get paid?” or “Is it safe?”.
There have been many myths and made-up stories on how betting operators run scams and don’t pay their users. We at Bet India, wish to answer these questions and bust these myths.
Best withdrawal methods in India
Payments and withdrawals require a great deal of understanding when we go through a particular sports gambling website. Especially, since information regarding the withdrawals is written in fine print under the ‘Most Important Terms and Conditions’.
There are many factors which go into understanding the withdrawal process which is given by an operator. Some reputed operators can process a withdrawal in a matter of a few days. However, others can take up to a week or more!
When you win big, seeing the message of money credited to your bank account is what the endgame is.
Understanding Different Modes of Withdrawal
Most reputed gambling operators who offer its customers a chance to bet on sports offer a wide range of withdrawal methods. Some methods, like Bank Transfer, are common for Indians. However, other methods such as e-wallets are often mistrusted due to lack of knowledge or just plain simple rumours.
Each of these withdrawal methods has its own set of advantages and disadvantages. However, it must be kept in mind to choose a method which is both safe, as well as fast. These two factors are the only ones which matter.
Wire Transfer/Bank Transfer
The most common method which is offered by many betting operators such as Bet365 and Unibet is bank transfer. It is widely used as it is safe and is done keeping your bank in the loop. Due to this, bank transfers have often not been used as well. Since there are many parties involved and your bank may have a set of regulations in place for international transfers, most people do not use bank transfers.
Another major disadvantage of a bank transfer is the factor of time. After the operator has processed the payment to your account, it can take up to 7 working days for the money to be credited to your account. Apart from this, each operator has added a limit to the money you can withdraw and deposit through a bank transfer.
Keeping aside its disadvantages, bank transfers are among the safest options for Indians to withdraw their money. It is advised that you read the terms and conditions which the operator has kept in place before you withdraw any of your money.
Undeniably the most effective way of making withdrawals, e-wallets have stormed the financial market in recent years. E-wallets are 100% safe and have a very fast turn around time for payments and withdrawals that are sent to your account.
An e-wallet acts as a medium between you, the operator and the bank. Most betting operators offer you with a wide range of e-wallets you can choose from to make your withdrawals. Among those, only Neteller and Skrill can be used by Indian citizens.
It’s also worth noting that many e-wallets do not accept any kind of funds from betting operators. Not to fear though, as the two mentioned above are perfectly fine with processing winnings!
If you are using e-wallets, there will still be a minimum amount which needs to be withdrawn. However, the advantage of e-wallets is that you will receive the funds into your account within 2-3 days and they are very safe. Your bank account details are kept under safeguard and the betting operator will only send the funds to your e-wallet without having access to your bank account directly.
Card Payments (Mastercard/VISA)
Making withdrawals and payments with your Mastercard or VISA is safe and is also widely used by Indians.
One of the many advantages of this method is its procedure for setting up. All you need to do is add your card number, expiry date, CVV and along with an OTP or your secret PIN. Once you have added your card, you can use this to make your withdrawals from the betting operator.
So, there you have it! These are the top withdrawal methods which are used by Indians. There are many other options to make withdrawals, however, either they are not available in India or they are not safe. It is of utmost importance to check the security which comes with the method of payment of withdrawal. Happy betting and good luck!