Betting on cricket in India has its obstacles, and depositing to bookmakers is one such obstacle. If you live in India, then making a financial transaction with an online bookmaker using an Indian bank account or credit/debit card can be a tricky business to say the least, so finding an alternative method is all but essential.
An e-wallet is very similar to a bank account. It basically acts as an alternative online bank account, where you can deposit money into it from your bank account, and then use that money to buy things securely from websites, or pay people in a peer-to-peer method (for example, you may wish to pay someone for some work they have done for you online). You can also receive payments in this manner.
Indian banks can be suspicious about transactions to bookmakers due to uncertainty about the gambling laws in India, so using an e-wallet removes this issue, as the banks have no reason to be suspicious about where the money is going, as you are simply depositing money into a peer-to-peer payment account.
The e-wallet also allows you to deposit money in Rupees, and then convert it into the currency you require to open your bookmakers account. Alternatively, if your bookmaker accepts Rupees, it makes depositing that bit easier, as it removes the direct ‘bank to bookmaker’ issue.
The process acts in reverse later on if you wish to withdraw winnings from your bookmakers account. You simply withdraw from the bookmakers to your e-wallet, and then transfer the money from the e-wallet back to your own bank account.
The best thing about this process is that all major online bookmakers accept both Skrill and Neteller.
Skrill is the company formally/also known as Moneybookers. They are a global brand who are well known in India, meaning Indian banks are happy to deal with them. The Skrill group is registered in London, UK, and is regulated by the Financial Conduct Authority (FCA), meaning you can make your transactions securely.
You can set your Skrill account up using Rupees, and you can also link your bank account, and debit and/or credit cards to your Skrill account. You can open a Skrill account here…
Neteller are also authorised by the Financial Conduct Authority (FCA) in the UK, again allowing consumers to make their financial transactions with confidence. Another global brand, Indian banks will also deal with Neteller.
A Neteller account can also be set up using Rupees, accepted deposit methods include bank accounts and credit cards. You can open a Neteller account here……
As both these companies are regulated to a high standard, money laundering is an issue taken very seriously. As a result of this, all new sign ups will have to get their accounts verified. While this is a relatively easy process, it is a pain in the backside, as it can take a few days.
Once that is out of the way though, you are off and running and can start depositing with any online bookmakers as and when you want to.
So to sum up… if you live in India and wish to deposit to an online bookmaker, you have to do the following.
– Open an (e-wallet) account with Skrill or Neteller.
– Verify yourself by completing the simple security checks.
– Deposit money into your e-wallet account from your Indian bank account, and/or from your credit and/or debit card.
– Deposit money from your e-wallet account, to your bookmaker account.