In the last few years, India has experienced a surge in popularity with regards to online sports betting. The number of prevalent bookmakers is at an all time high, with each of them offering convenience and accessibility towards betting.
If you are exploring this world for the first time, one of the most important aspects to learn is how to deposit money into your online wallet.
In this guide, we will deep dive into the various elements of depositing money at an online bookmaker, including payment methods, deposit limits, procedure to get a refund, banking partners, etc.
After reading this, you can make your way towards your preferred bookmaker’s website and make a deposit, enabling you to experience the fun of online sports betting.
How to Deposit Using UPI?
UPI or Unified Payments Interface is arguably the most used transaction platform in India. Many players resort to it even while making a deposit at a bookmaker’s website.
Let us take UPI as an example and understand the different steps you need to follow to add money to your online wallet –
- Log in to your account: If you are already a member on a bookmaker’s website, log in using your registration details, as only then will you be able to make a deposit
- Visit the deposit section: The ‘Deposit’ button is usually situated on the top-right corner of the website. Some websites might even have it by another name like ‘Cashier’ button. Click on it
- Choose UPI as your payment method: The website will list all the payment methods available with them, which might include Paytm, PhonePe, Google Pay, Cryptocurrency, etc. Click on UPI
- Enter the deposit amount: Type out the amount that you wish to deposit in your online wallet. Always double-check afterwards for any errors
- Add UPI address: A dedicated section will require you to add either your UPI address or a Virtual Payment Address (VPA). Enter it and ensure that it is accurate
- Confirm the payment: After entering the mandatory details, confirm the payment. This will redirect you to your UPI app or the bank’s website for authentication. Follow the subsequent instructions and complete the transaction
- Wait for confirmation: Deposits are usually quicker, meaning you will receive a confirmation of payment from your bank within two minutes.
With your bookmaker account now credited with the deposited amount, you can use it for betting. If you want to learn to place a bet on cricket, make sure to check out our ultimate beginners guide.
What are the Most Common Payment Methods?
Among Indian bettors, UPI is the most popular choice for transactions. However, Indian betting sites do make available a wide range of payment methods to meet varying preferences of their members.
Listed below are some of the commonly accepted payment options you will find on nearly all betting sites:
- Debit and Credit Cards: Most online bookmakers allow payments via credit and debit cards like Visa and MasterCard. All you have to do is simply enter your card information and the desired deposit amount
- Netbanking: You can also use your bank’s internet banking service to make deposits. To authorize transactions, you must log in to your bank account through the online bookmaker’s website
- E-Wallets: Skrill, Neteller, Paytm, Google Pay, and PhonePe are e-wallets that are widely used in India to carry out online transactions. By allowing payments through e-wallets, bookmakers facilitate quick and convenient deposits
- Bank Transfers: Here, you need to use your provided bank details to initiate a transfer from your bank account to the bookmaker’s account
- Prepaid Cards: You can use prepaid cards and vouchers to make deposits with an online bookmaker. They contain unique codes that you must enter to add money to your account. AstroPay, Paysafecard and Payoneer are a couple of examples of it
- Cryptocurrencies: The more recently launched bookmakers especially allow payment through cryptocurrencies like Bitcoin, Ethereum and Dogecoin. This payment method is still less common as compared to traditional ones
The deposit limit at online bookmakers can vary from source to source. It is generally set by the bookmakers, but at times, also by the payment sources so as to manage the financial risks.
On an average, you will see that the minimum deposit starts at INR 100, but they can be as high as INR 200 or even INR 500.
In order to know about the minimum deposit for your chosen bookmaker, you can visit their website or mobile application and navigate the deposit section. More often than not, the minimum and maximum deposit limits are readily available there.
Tip: If you are looking for easily accessible betting sites where you can deposit small amounts, make sure to check out our overview of low deposit betting sites.
Which Indian Banks are Supported by Betting Sites?
To facilitate secure transactions among their members, online bookmakers have partnerships with several Indian banks.
Some of the well-known banks include:
- State Bank of India (SBI): State Bank of India (SBI) is one of the most reputable banks in India, and it only makes sense for bookmakers to have tie-ups with them for seamless deposit and withdrawal service
- HDFC Bank: When it comes to online banking services, HDFC Bank features among the top banks and is a preferred choice among bookmakers for online transaction requirements
- ICICI Bank: Another major Indian bank with a strong online presence is ICICI Bank. This factor makes it a reliable partner for online betting transactions
- Axis Bank: Axis Bank has a growing presence among the list of banks, allowing it to partner with bookmakers for deposits and withdrawals
- Kotak Mahindra Bank: Among the list of trusted banks in the industry there is Kotak Mahindra Bank and it can be an options for some online bookmakers for their transaction needs
The general rule is that as long as you have either a Visa or a Mastercard debit or credit card, you will be able to deposit at an online bookmaker. Banks do not restrict the usage of betting sites, so you do not have to worry about your transaction being blocked.
We advise you to check whether you have a Visa or Mastercard card to carry out bank transfers. If you don’t have any of these cards, you can still deposit money through UPI, e-wallets or cryptocurrencies.
How to Change the Deposit Limits?
It is common among most bookmakers to allow their members to set their own deposit limits. This is a part of their responsible gaming initiative, thus, preventing you from excessively spending money and helping curb excessive losses.
To change or increase your deposit limit, follow these steps:
- Visit account settings: After logging into your account, search for a ‘My Account’ or ‘Settings’ section on the website or the app of the bookmaker
- Look for responsible gambling: Your account settings usually contain the responsible gambling section where you can also find options related to deposit limits
- Adjust limits as preferred: You can now increase or change the deposit limits as per your requirement. Manually enter the new spending limit that you wish to set
- Confirm the changes: Once you are confident about your decision to change the deposit limit, confirm it so that it can take effect
In order to ensure that the increase in your deposit limit aligns with their responsible gambling practices, the bookmaker may want to review it. Always make sure that the maximum limit you set is an amount that you can afford to lose.
If you want to know more about changing limits and other details, make sure to check our guide on changing personal details at a bookmaker.
How to Get a Refund?
Provided that you meet the general criteria, the process of getting a refund can be simple. You wanting to ask for a refund from your bookmaker may involve different scenarios like canceled bets, deposit error, or refunds on promotions.
To request a refund, you can follow the below steps
- Reach out to customer support: Your obvious choice to ask for a refund is the customer support. You can find multiple channels like live chat, email or phone number to get in touch with a professional
- Provide necessary details: The team of experts will require you to submit a few mandatory details like bet reference number or transaction ID
- Wait for confirmation: Once you have provided the necessary details, the support team will review them and then confirm whether or not the request is approved. The duration can vary from source to source, so, patience is requested
- Receive refund: After receiving a positive confirmation, you need to wait for the refund to appear in your account. You can then proceed by putting forward a withdrawal request
Be informed that not all bookmakers have the same policies when it comes to refunds. It is important that you learn about any related terms and conditions that may have been mentioned on their website.
Can I Transfer Funds from One Acount to Another?
Transferring funds from one betting account to another is not a feature that you will see with online bookmakers. They have uncompromising policies in place, and this is one of them to prevent money laundering and other similar fraudulent activities.
In connection with this practice, it is also not possible to withdraw money to a bank account that is not registered in your own name. If you want to know more about this, make sure to read our general withdrawals guide.