Making a payment with Credit Cards – a step by step guide
The situation with using an online bookmaker with credit cards is complicated and unclear. Technically there’s no legal issue preventing you from using an online bookmaker with Visa cards or MasterCard for your payment. However, in practice we find depositing to foreign bookmakers with credit cards is made extremely difficult by financial institutions. The success rate and reliability of depositing/withdrawing at an online bookmaker with credit cards is extremely poor. Some transactions may succeed, others will not.
But, the actual process of depositing and withdrawing at the best betting sites with credit card in India is very simple:
- Step 1 – Set up an account with your betting site. You may need to complete account verification.
- Step 2 –To deposit, select credit card, choose your credit card, betting sites with Visa cards or MasterCard are more popular.
- Step 3 – Enter card number, expiry date, 3-digit CVC or CVV number, and the deposit amount.
- Step 4 – At the best betting sites with credit card in India, deposit should be instant and the money should be in your account with a minute or two.
However, as we have warned you, using betting sites with MasterCards or Visa cards has a poor success rate and you should expect your deposit/withdrawal to be rejected frequently. For this reason, we suggest looking at best betting sites with ecoPayz in India, the best online bookmaker with Neteller, or other popular e-wallet payments to let you use credit cards to fund your betting. We cover this in more depth in a section below.
Average time taken for Credit Card deposits and pay-outs
At casinos and sports betting sites with credit cards, depositing is usually instant. Withdrawals at betting sites with MasterCards or Visa (the most popular credit cards) take 3-5 business days unless subject to verification.
However, even with the best betting sites with credit card in India, you will often find that your deposit/withdrawal requests at an online bookmaker with credit cards are rejected. It may happen immediately or may only show up a few days later. At this point, you should contact the betting site and credit card provider – and when it happens regularly, you should find an alternative to bookmakers with credit cards, as discussed below.
Credit Card verification requirements
When making payments at betting sites with Visa cards or MasterCards, you may be required to verify yourself or the transaction to allow payment processing.
Betting site verification involves verifying identity, residence, and sometimes address. This usually happens when making the first deposit and first withdrawal at an online bookmaker with credit cards. You will need to upload copies of a government-issued photo ID, residence proof, and proof of address through a recent utility bill.
Credit card provider verification can occur on any or all uses of your card. At betting sites with Visa cards you will go through ‘Verified by Visa’ verification. At betting sites with MasterCards it will be ‘MasterCard Secure’. Both involve codes sent to your mobile phone or email or characters from online security that need to be entered to continue.
History of the Credit Card
The first modern credit card appeared in 1949 with the Diners Club card, followed by the Bank of America card in the 1950s. BoA licenced their credit card to other banks, creating the Visa organisation, and competing banks launched MasterCard in 1966. In India, Andhra Bank was the first to introduce credit cards in 1981.
Early cards were processed using an imprint of the card transferred to a paper receipt passed on to the bank and then to the credit card provider. But the familiar magnetic strip and now chip system means that transactions are far quicker today. This payment method is incredibly successful in India, with approximately 50 million credit cards in circulation.
Credit Cards Compared to Other Payment Methods
Credit cards are wonderfully convenient, very safe and secure, give you extra time to pay, and are readily available payment methods at most offshore betting sites.
However, even at the best betting sites with credit cards in India, there are issues with credit cards. The biggest problem with casino and sports betting sites with credit cards in India is the issue of financial institutions rejecting transactions at betting sites with Visa cards and other cards. Depositing to an online bookmaker with credit cards is fraught with problems of rejected and blocked transactions.
This is why many Indian players choose to avoid using credit cards directly. One of the most popular alternatives is using an e-wallet – Neteller, Skrill, or ecoPayz. Even here there are problems, as seen on our guide to using PayPal bookmakers, as PayPal also blocks betting site transactions.
Most popular payment methods
Depositing/withdrawing at betting sites with MasterCards and Visa cards is still one of the most popular payment methods globally. But even the best betting sites with credit cards in India have huge problems as credit card providers actively block payments from India players to foreign bookmakers and betting sites.
This is why there has been a rise in alternative methods of payment such as the use of e-wallets as a bridge between the credit card provider and the betting sites.
Credit Card Payments FAQ
Using credit cards for Indian players is nowhere near as easy as it ought to be. We’re sure you have questions about the process and here we tackle the top 5 we’ve come across!
Yes, it’s technically allowed. However, most providers block or reject a lot of credit card transactions.
There is no special provision banning online betting in Indian law but if you use other currencies than Rupees you may technically fall foul of the FEMA laws governing the exchange of foreign currencies.
Yes, you can and because of the FEMA laws in India regarding foreign currency exchange, we recommend you do. Respected betting sites such as Betway, LeoVegas, bet365, Royal Panda are amongst those accepting Rupees.
Indian players have to use foreign betting sites and you must ensure they have the most respected and trusted licences from strong regulatory bodies such as those from Malta, Gibraltar, Alderney, and the Isle of Man. Licences from the Caribbean islands such as Curacao are much less tightly regulated and we would advise that you avoid these betting sites.
For Indian players, this is something that happens regularly even with the best betting sites with credit cards in India and has nothing to do with the betting sites. It’s all to do with the financial regulations and legal status of gambling in India. For more information see the section below. But if you have had a declined transaction, your first contact should be with both the betting site and your credit card provider.
The Complex Legal And Financial Issues For Indian Players And Foreign Casinos
We’ve mentioned it throughout this guide – there are various on-going issues with using credit cards at foreign betting sites for Indian players.
Legal Status Of Betting Online In India
Gambling in India is heavily restricted except for lotteries and horse racing. The Public Gambling Act of 1867 is the government law that prohibits running or being in charge of a public gambling house and laws regarding gambling are made at state level (which is why you can find casinos in three states – Goa, Daman and Sikkim).
Such an old law obviously creates a grey area for Indian players looking at online betting. The lack of definitive legal regulations adds to the confusion over the legality of gambling online. For example, the Information Technology Act (2000) completely fails to legislate or even mention online gambling. The Federal Information Technology Act (2011) allows the government to block foreign websites and has been used to prevent Indian residents from accessing some foreign betting and gaming sites.
Importantly, when it comes to foreign betting sites, the Foreign Exchange Management Act (FEMA) of 1999 governs the exchange of foreign currencies. And technically this covers deposits to foreign betting sites in currencies other than Rupees.
How Indian Online Gambling Laws Affect Your Betting
Because the legal situation regarding Indian players using online betting sites is unclear, Indian players will face problems with betting at foreign betting sites.
Major betting sites do welcome Indian players and a small number offer Rupees as a currency. These foreign betting sites do not come under Indian law and Indian players can legally use the sites. However, if you’re betting in currency other than Rupees, the FEMA law (technically) applies to your currency conversions using these sites.
Problems Using Credit Cards
All of this confusion means that Indian players find it extremely difficult to use credit cards at foreign betting sites. There is no actual ban on using credit cards, but financial institutions and credit card providers actively block transactions to/from foreign betting sites, with some transactions failing but not all. And that’s also true of online bank transfers – see our article on best betting sites with bank transfer in India for more.
The E-Wallet Solution
With credit card transactions being uncertain at best, the safest way to move money from your bank or credit card to a foreign betting site is by using one of the various e-wallets available – Skrill, Neteller, and ecoPayz are the most popular. E-wallets act as a step between credit cards and betting sites. Money goes from credit card to e-wallet and from e-wallet to the betting site (or vice versa for withdrawals). Importantly, e-wallets allow players to fund a betting account in Rupees, potentially avoiding legal issues around the FEMA laws.
What About Bitcoin?
This is a complicated subject all by itself, so we’d advise you see our articles on Skrill betting sites and online bookmakers with Bitcoins. However, following the lifting of a two-year ban on Indian cryptocurrency trading by the Reserve Bank of India in March 2020, it is possible for Indian players to consider Bitcoin as a payment option. There are a number of online betting sites offering Bitcoin and crypto payment options, but as with everything else to do with betting in India, the legal status of Bitcoin betting is uncertain. Two things to make sure of when looking at Bitcoin betting is to get a reputable betting site with good licencing and to make sure you have a good Bitcoin wallet.
Generally, using credit cards at betting sites is one of the safest and most trusted ways of funding your betting. The transactions are protected, fast, and convenient and most people can access betting sites with MasterCards and Visa payments available.
However, for Indian players, the situation is very different. Although credit card payments at foreign betting sites are technically legal, especially if you use Rupees, the practical experience for players wanting to use credit cards at foreign betting sites is that a large number of the transactions will end up being blocked or declined. This is all because of the grey area of online betting in Indian law and the legal issues regarding foreign currency exchange in relation to offshore betting sites. Until the situation changes, using credit cards for foreign betting sites will be a hit and miss affair and for that reason, we recommend using alternatives such as e-wallets for all of your foreign betting.