The online casino market in India is projected to grow at a compound annual growth rate (CAGR) of 7.86%, with statista.com claiming market volumes are now set to reach $1.11 billion by the turn of 2027. That’s a sizeable increase on the $0.33 billion posted in 2017.
Much of this will be due to the ever-improving connectivity to online casino gaming options. There has been rapid advancement of smartphone and tablet devices, with the likes of the Motorola Moto G Stylus 5G a case in point, as reviewed on indiannewslive.com. This innovation, combined with the speed and reliability of 4G and 5G networks, has made it possible to enjoy classic casino games like blackjack, roulette, and slots on almost any device.
Having access to hundreds, if not thousands, of online casino games is only half the battle though. With offshore operators free to deliver online casino options to Indian players, the next hurdle for Indian bettors to overcome is how to deposit and withdraw their funds. Industry-leading sites like casinodaysindia.com are committed to giving Indians a plethora of conventional and alternative payment methods, delivering the kind of flexibility modern players crave. This specific site displays no fewer than 18 secure payment solutions, ranging from debit cards and e-wallets to cryptocurrency.
Below, we explore the wealth of payment methods at your fingertips to fund accounts with online casinos licensed offshore yet passionate about delivering authentic Indian iGaming experiences.
Indian Net Banking
Indians can obviously use a conventional internet banking account to deposit and withdraw funds for online casino activities. Indian Net Banking (INB) is open to those with current accounts as well as savings accounts with Indian Bank. This doesn’t just include those with Indian Bank accounts but also those who used to have Allahabad Bank accounts. The two banks merged in April 2020 in a bid to offer greater convenience and features within their mobile and online banking apps.
UPI
The Unified Payments Interface (UPI) has been in existence since April 2016. Conceived by the National Payments Corporation of India, UPI is designed to make peer-to-peer and consumer-to-merchant transactions instantaneous and seamless. Using tools like single-click two-factor authentication (2FA), you can send peer-to-peer and consumer-to-merchant requests. As a consumer with multiple bank accounts, UPI is handy to bring all accounts under one mobile app, providing they’re participating banks, making your life easier to choose the right account for your iGaming.
Skrill
Skrill is one of the most popular legal e-wallets in India and it’s fully compatible with Indian-friendly online casinos. One of the main benefits of Skrill is that you can choose to deposit funds to an offshore online casino in rupees, thereby circumventing costly exchange fees. Most online casinos will also make deposits from digital wallets like Skrill eligible for welcome bonuses. In the UK, Skrill is fully regulated and authorised by the Financial Conduct Authority (FCA) which underlines its legitimacy.
Neteller
Like Skrill, Neteller is another popular e-wallet for use with licensed online casinos. As with all other e-wallets, the biggest benefit of Neteller and co. is the ability to leave your bank account one step removed from the deposit and withdrawal process, thereby improving the overall security of your iGaming activity. As with Skrill, Neteller is also eligible for sign-up offers with compatible online casinos.
Cryptocurrency
According to Zeebiz, some 190 million Indians are still unbanked. This means they don’t have a conventional bank account with a high-street bank. This makes India a target market ripe for cryptocurrency adoption. Even in rural regions of India, many residents now have smartphones and access to the internet. This makes it possible for them to buy and store digital assets like cryptocurrency and store it in a crypto wallet ready to deposit instantly with an online casino. Bitcoin, Ethereum, Litecoin and Ripple are the most popular crypto-assets at present.
Put simply, secure and flexible payment methods are paving the way for more Indians to immerse themselves in 21st-century iGaming experiences, with RNG and live dealer action from industry-leading providers committed to fusing state-of-the-art iGaming with Indian popular culture.
KEY HIGHLIGHTS
