Misc

Legal and Regulatory Aspects of Casino Payments in India: What You Need to Know

Written by varsha

The legal landscape surrounding online gambling and online casino payments in India is rather complex. In certain states, online gambling is completely legal and regulated, whereas it’s prohibited in others. It can be a bit of a confusing topic. However, the laws do not strictly mention the illegality of Indian players using off-shore casinos to gamble online – it’s a grey area.

That’s why in this article, we’re hoping to shine a light on the matter. Hopefully, this will put any worries you have about making legal payments at Indian online casinos to rest. We’ll outline the most popular and secure payment methods to use as well as the legal aspects surrounding casino payments. Let’s get started right away.

The Legal Aspects of Making Payments at Online Casinos in India

India’s relationship with online gambling is somewhat complicated. While there are no federal laws that explicitly prohibit online betting, various states do not allow it. Since 2022, though, Goa, Daman and Sikkim have legalised online gambling. However, that relates to online casinos operating within the country’s borders.

When it comes to online casinos that are based elsewhere, it’s a different matter. The only legal requirement offshore casinos face is that they must offer Indian Rupees as a payment option to Indian players. So, if you come across an online casino that doesn’t, it’s best to avoid it. Our advice is to spend some time researching what payment methods and currencies a site accepts before signing up. That way, you’ll avoid any potential complications.

Learn more about Indian online casino payment methods: www.masterofcasinos.com/payment-methods/

Popular Indian Online Casino Payment Methods

Understanding which payment methods are available to you is an essential component of online casino gaming. You want assurances that you can make deposits and withdrawals with the least hassle possible.

That’s especially true for Indian players who choose to play at online casinos that operate outside of the country. As they’re regulated by overseas authorities, the supported payment methods can vary from one site to the next. Essentially, you need to know that you can use banking options that you can trust to ensure your funds are safe and secure. As such, we’ve highlighted the best payment options for Indian players below. 

  • Credit and debit cards: India offers a variety of major card providers that you can use to perform online casino payments. These include trusted local providers such as HDFC, ICICI and Axis Bank, as well as global brands such as Visa and Mastercard. Due to their high-security policies and safety protocols, these are currently some of your best options when gambling online.
  • Bank transfer: If you prefer more traditional payments, bank transfers could be the way to go. Again, each transaction is protected thanks to the top-grade security measures these institutes put into place – you won’t have to worry about the safety of your sensitive information. Additionally, bank transfer payments often come with increased deposit limits. So, if you’re the type of player who likes to play at higher stakes, it’s a great fit. However, you will likely face longer processing times than when using other payment solutions.
  • UPI: You can use UPI (Unified Payments Interface) to transfer money between accounts via one application. It makes payments much smoother when gambling at Indian online casinos. All you need to do is download the app and enter your details. Once you’ve done that you can make real-time payments without the need to enter any bank details or personal information.
  • E-wallets: In recent years, E-wallets have become much more popular in India, especially among those who gamble online. Popular E-wallets such as Paytm, PhonePe and Google Pay offer seamless payment processing via easy-to-use mobile apps. Seeing their growth in use and popularity, the majority of online casinos have now adapted their banking options to support these types of payments.
  • Prepaid cards and vouchers: If you’re looking for a way to maintain close control over your spending, prepaid options are the way to go. You can purchase and top up reusable cards and vouchers at physical retailers to make transactions at various online merchants, including online casinos. They’re also extremely useful as they don’t require you to have access to a bank account. The only real downside is that you may be ineligible to receive certain casino bonuses.
  • Cryptocurrencies: With the rise of Bitcoin and similar cryptocurrencies, more and more online casinos are beginning to accept crypto payments. They offer a unique alternative to traditional banking methods. The key draw is that these payments are completely anonymous. There’s no need for you to ever reveal any of your sensitive information to the casino. That being said, you may encounter various fees when making deposits and withdrawals.

Conclusion

When it comes to the legal aspects of making payments at online casinos in India, the main takeaway is that knowledge is key. Although, at first, it might seem like you need a master’s degree in international financial law to understand the do’s and don’ts, the truth is there are only a couple of things you need to know.

Ultimately, as long as your chosen casino either operates within one of India’s licensed states or is based overseas and accepts Indian Rupee payments, you’ll be good to go. Then it’s simply a matter of finding a payment method that suits you. Thankfully, though, that’s easy enough considering the wide variety of options at your disposal.