When dealing with a reputable betting platform like Betway, the withdrawal options are numerous. To begin, e-wallets are available. If you’re unfamiliar with the word, an e-wallet is essentially a middleman between your bank account and an online gambling site. Since Indian banks are shady when it comes to handling gambling transactions, these are a vital part of gambling from India. The globepay betting sites are truly helpful.
Neteller and Skrill are the two most common e-wallets, both of which offer accounts in Indian Rupees (INR). But here’s how it works: To begin, create an e-wallet account and connect it to one or both of your credit cards and bank accounts. You make a deposit (into your e-wallet account) from here, and once it is funded, you can use the balance to finance an online bookmaker account. When it’s time to cash out, go to the cashier at the bookmaker and order a withdrawal to your e-wallet. You now have the money in your e-wallet after the withdrawal has been completed, and you can do one of three things with it:
- Leave it alone until you’re ready to use it;
- Make a deposit at a different online gaming location.
- Request that funds be transferred from your e-wallet to your bank account.
The benefits of using an e-wallet are numerous. NETELLER and Skrill, for example, are regulated by the UK’s Financial Services Authority (FSA) and have millions of customers worldwide. Indian banks are unconcerned about dealing with either business because people use them for a variety of non-gambling purposes. Skrill is widely used by Indian freelance authors, programmers, and graphic designers to accept payments from clients. This service is also used by expats who want to move money between various countries and currencies.
How to USE NETELLER to withdraw money (unreliable)
In the past, Indians could withdraw NETELLER funds directly from an ATM machine using a NETELLER plus debit card, bypassing the need to go through their bank. Unfortunately, as of February 2011, NETELLER no longer provides these cards to residents of India. www.entropay.com provides “virtual” debit cards, which are a good substitute but not exactly the same. This is a less well-known e-wallet that is approved by a few bookmakers. – See my page on EntroPay for Indians for a complete overview of this service.
How to USE bank wire to withdraw money (be cautious)
When it comes to cashing out from online bookmakers through wire transfer, there are two issues to consider. The first is that this form is usually reserved for withdrawals of more than Rs. 2 lakh. If you want to keep the fact that you’re gambling online hidden, don’t use this tool.
Paypal withdrawal instructions (not available to India)
PayPal has a strict anti-gambling policy in place in certain areas. Despite the fact that India is not on this list, I sometimes hear from friends who use loopholes to get paid by PayPal. This is a terrible idea because if you are caught first, you risk being barred from using PayPal for the rest of your life, as well as having your account balance frozen for an extended period of time.
Western Union transfer services (expensive)
Transfer services such as Western Union are another choice for cashing out. This is mainly available at bookmakers that cater to the North American market, such as bookmaker.com. The disadvantages are that a) UK bookmakers (which do not sell this method) are much more Indian friendly than North American sites, and b) when fees and currency exchange are factored in, this method is incredibly costly.