Over the years, technology has made great strides, and it is now possible for players to gamble or place wagers on their favorite games through the internet. Exploiting legal gray areas, many international online sportsbooks like 22bet are now accepting players from India. Can I deposit Indian Rupees on 22Bet? In addition to accessing betting sites from your browser, it is also possible to download some of the top betting apps on your smart devices, making betting on the go a breeze.
The Public Gambling Act of 1867, passed during the British rule on India, which regulates all gambling and betting activities in the country, makes it illegal for residents to gamble or place wagers on sports or any other events. Post-independence, the states have been given greater autonomy to frame their own laws regarding the same, and regions like Goa, Daman, and Sikkim have made it legal to gamble in casinos permitted within their boundaries.
Can I deposit Indian Rupees on 22Bet?
India is seen as one of the biggest potential markets for sites like 22bet as billions of dollars are wagered each year on cricket and other casino games through an illegal nexus of bookies. 22bet goes to great lengths to attract Indian players and even accepts deposits and processes withdrawals in Indian currency.
Advantages of betting with Indian Rupees
During the initial days of online betting, sportsbooks would only process payments in international currencies like the US Dollar or British Pound. This required Indian users to first convert money to these foreign currencies before making a deposit, and then again to convert their winnings back to INR.
This posed two distinct disadvantages.
The first being the danger of violating FEMA laws. The Foreign Exchange Management Act governs the exchange of currencies, and anyone who would frequently convert money to different currencies without any apparent reason could attract scrutiny from the authorities. The ability to use Indian currency on 22bet saves the players from unwanted attention.
Secondly, players would often incur conversion losses due to fluctuations in exchange rates, as well as commissions charged by exchangers every time the currency was exchanged. All this made it quite difficult for players to predict their actual net winnings. Now, with 22bet accepting Indian rupees, there is no need to worry about fluctuations in exchange rates or commissions on conversions.
Payment methods accepted by 22bet
Can I deposit Indian Rupees on 22Bet? 22bet supports one of the widest range of payment methods among online sportsbooks. The websites list about 38 deposit methods and 36 different withdrawal methods that you can use. While all standard methods like Neteller, Skrill, and bank transfers are available, the method of convenience for Indian players would be UPI and Paytm, which is available for both, deposits as well as withdrawals.
There have been instances of Indian banks like HDFC and SBI refusing to process payments to and from online betting sites. While using UPI and Paytm works in almost all cases, and the payments are processed almost instantly, with no service charges. Using UPI or Paytm also provides an additional layer of security as you need not submit your bank details like account numbers on the site.
Also, your bank statements will not reflect any transactions to 22bet, as the payments are made through digital wallets.
22bet is also one of the few betting sites to process payments in cryptocurrencies like Dogecoin, Bitcoin, Litecoin, and Ethereum.
Can I deposit Indian Rupees on 22Bet? Yes, absolutely! 22bet is one of the newer entrants in the online gaming market and has yet achieved popularity thanks to the huge options it provides in terms of sports, betting markets, and payment methods. Being regulated by the Curacao eGaming Authority makes it safe to deal with, and punters should definitely give this one a try.