There was a time when Indian players had serious trouble depositing money into their online casino accounts, but that is now becoming a thing of the past. The problems still exist, but according to sources at MyCasino.in, depositing money to an online casino has been made significantly easier in India due to improvements in the financial infrastructure.
Yes, the increased number of mobile phones has contributed greatly to the blossoming casino industry, so has better internet access, but an equally significant factor has been the improved online payment systems in the country.
If players cannot deposit money, they will not be able to play casino games. Online casinos won’t make money and may be forced to pack up and go somewhere else. That has not been the case in India.
The country has become a very fertile ground for online casino operators around the world. More and more sites are setting up in the lucrative Indian market, hoping to earn a share of the multi-billion dollar industry.
The online casino industry in India is largely unregulated, but one requirement for setting up such sites in the country is that operators must accept Indian Rupees. This has worked out very well for the casinos and Indian players alike.
No longer do gamers have to worry about losing money due to exchange rates and currency conversion rates, as would have been the case if they were depositing in dollars, pounds, or any other foreign currency. Because Indian players now deposit in Rupees, they only part with the exact value of money they want to deposit.
Accepting Indian Rupees is one thing, but allowing easy transfer of funds is another thing. Indian banks are not the most forthcoming when it comes to transferring money into gambling sites. Some of the banking transactions take forever to be processed, while others are completely blocked.
It is true that the banks are getting more accommodating, but there is still a chance that players may encounter problems while depositing money via bank cards and bank transfer.
This is where other payment methods come in. E-wallets like Neteller and Skrill have become extremely popular in India. These wallets have long been associated with online gambling sites, and they are certainly making a strong impression in the Indian market. Most online casinos allow Neteller and Skrill payments, making it very easy for Indian players to fund their betting accounts.
Another alternative to bank cards is prepaid cards like AstroPay card, ecoPayz, and Paysafecard. Some of these cards can be easily purchased on the internet and used to fund online casino accounts without any hassles.
Online payments in India have been made even more convenient by the creation of the Unified Payments Interface (UPI), a mobile payment system that allows the transfer of funds between two bank accounts.
Developed by the National Payments Corporation of India, UPI has been of tremendous benefit to the Indian people, facilitating the easy transfer of funds between family and friends. Online casinos have jumped on this trend, as many of them now offer payments via UPI.
The digitization of the Indian banking system has also given rise to numerous mobile payment platforms, including PhonePe, Google Pay, and PayTM.
These payment systems (PhonePe, Google Pay, and PayTM.) have made it very easy for Indians to send and receive money, and also pay regular bills like phone bills, electricity, education, and many more. The payment gateways have also become very useful in funding online casino accounts.
Indians can also fund their casino’s accounts through cryptocurrency, while some casinos accept the very funky cash on delivery method. One thing is for sure: Gamers are spoilt for choice in this country. If one method fails, they can easily switch to another.
In summary, there are many online casinos in India, and each of them accepts a long list of different deposit methods, making it easier and easier for Indians to make a deposit.
We predict that online casinos will keep improving their deposit methods to attract more players, which will cause online casinos to become even more commonplace in India over the next couple of years.
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