The history of betting or gambling in India is probably much older than you think. According to the manuscripts from prehistoric India, both the era of Ramayana and Mahabharata have seen their fair share of gambling and betting. With time, the game became much evolved when the Kings to a stake in betting. The concept of rolling dice while gambling came to India as early as 2000 BC to 1500 BC. In addition to dice, Indians also started betting on animals like bullfights, ram fights, and cockfights. Cockfights are still popular in some rural parts of India. As time progressed, animal betting became much civil as we see it today through horse race betting.
Though the popular credit for the game of betting and gambling goes to the Europeans, it is interesting to note that, most of the gambling devices found in Europe have Indian symbols in them. This signifies that Indians have many roles to play in the booming business of betting and gambling in the world we see today as any other culture.
Is Betting Legal In India?
India is a country well known for its passion for sports. And, when a large chunk of the population with huge disposable income meets the passion, the desire for gambling is bound to arise. It is interesting to note that, 40% of the total internet users in India like to gamble. Though the Public Gambling Act of 1857 has made any forms of traditional gambling illegal in India, it hasn’t stopped the Indians from betting.
The illegal market for betting in India is worth more than $100 billion and increasing at a rate of 7% per year. So, when the existing legal framework has not been able to prevent illegal gambling, it is much argued that some sort of regulations must be put in action to curb this activity.
It’s subjudice whether or not traditional gambling and betting in India should be made legalized or not, but the states of Sikkim and Goa has made an exception.
In these two states, gambling and betting are legal under the strict adherence of the state’s rules and regulations.More on Indian Gambling Laws
What is the Situation of Online Betting in India?
Online betting is legal in India and there are no federal laws that vote against online betting in the country. However, each state may individually impose laws on the same but, so far very few states have made laws against online betting. To start online betting in India, it is very important to register with a legal betting site and there are quite a few on the list.
Best Legal Betting Sites in India
- One of the most trusted online betting sites in India.
- It is user-friendly and so is a preferred platform for beginners.
- Most of the popular sports available here are cricket, football, rugby, horse racing, soccer, golf, and tennis.
- The welcome bonus is only limited to new Indian players. A minimum deposit of ₹200 is required for becoming eligible for the bonus. If you are lucky you can receive a bonus of up to ₹8,000.
- Get a large selection of live betting options on sports like football, cricket, tennis, horse racing, basketball, table tennis, ice tennis, volleyball, and much more.
- Apart from just sports, 22Bet also offers a live casino experience with games like Blackjack and Roulette.
- Get a welcome offer of more than ₹10,000 along with 22Bet Points for new players.
- Bet online on sports like tennis, motorsports, horse racing, and cricket.
- It is also the most trusted online casino portal in India.
- You can bet as low as with ₹80 and the highest bet depends on the sports you have chosen.
- Enjoy an excellent mobile gaming experience with gamble whenever and wherever. Live streaming makes it even more interesting.
- You can deposit a minimum of ₹1,000 and enjoy the bonus of up to ₹80,000.
Popular Online Betting Deposit Methods in India
There are quite a few deposit methods in India but, you can choose what works for you the best.Best Deposit Methods in India
Now let’s take a look at the features of the payment methods which are popularly used in India.
It is a convenient way to deposit money on betting sites. However, since many Indian banks do not approve betting transactions so your deposit might get declined. You must keep in mind that for some sites VISA card might work and vice-versa.
However, you can use a VISA card to deposit money in 3rd party e-wallet and then deposit it to the betting site. The processing is instant and does not charge a transfer fee. LeoVegas, RIZK, and COMEON allow VISA card transactions.
In many ways, VISA and MasterCards are the same and offer you both credit and debit options. If you have MasterCard then, it is highly recommended to find a site that allows MasterCard transactions. LeoVegas, Royal Panda, and Bodog allow MasterCard deposits.More Info About Visa & MasterCard
It is a free e-wallet available to Indians that allows you to send money to one another and also to pay for goods. You can transfer money to your Paytm wallet using your debit or credit card or you can go to Paytm vendors for the transaction.
To date, only one betting site allows Paytm transactions that are 1xBet and you can transfer a maximum amount of ₹5,000 through this e-wallet.More Info About Paytm
You can use this prepaid card on a large number of online betting sites for depositing money. Suppose you have bought the AstroPay Card and use portals like JioMoney, Airtel, PhonePe, Google Pay to pay online. Once the transaction is complete, it will be ready to use. You can deposit a maximum amount of ₹70,000 with an extra transfer fee.Read More About AstroPay Card
This e-wallet has been around for quite some time and you can deposit money to any betting site in India through Neteller. Keep all your betting sites centralized through this e-wallet since most of the online sites accept Neteller as a transaction option.
However, Neteller does charge a steep transfer and withdrawal fee which is around 1.35% every time you will use it. You can deposit as high as ₹25 lakhs through this e-wallet. Royal Panda, Bet365, and LeoVegas are among the major bookmakers that accept Neteller as a payment method.Read More About Neteller
Both Skrill and Neteller are the product of the same company and also work the same way. Skrill is quite popular amongst online bettors and is a trusted brand when it comes to handling money safely. It has been around for a decade thus, testifying to its popularity. Skrill also has a relatively high withdrawal fee of around 1.35% but does not charge when you are depositing money. Nearly all betting sites accept Skrill, for example, Bet365, Unibet, and LeoVegas.Read More About Skrill
Online Bank Transfer
Online bank transfer is gaining popularity as more a more betting sites are giving this option to Indian bettors. So, if you are new to online betting and want to deposit money, you must try online bank transfer which is simple and instant. The good news is there is no deposit or withdrawal fee and the money will be directly deposited into your bank account after the withdrawal.
Though the online transfer option is still relatively rare, still some sites allow this option like Comeon, Bodog, and Betway.More About Online Bank Transfer
Finding Value In Betting Odds
Understanding the importance of the odds in betting is the core value of any sort of gambling, be it casino or online, card game, or sports. It would be shooting in the dark without getting a good grasp on the betting odds before placing the bets. You must first understand is there are a variety of ways to express an odd and that they are also linked with the probability of winning a wager.
The importance of good odds is that they offer a wager with good value that you have to consider while placing the bets. This is not all, as odds also have an important role to play for the bookmakers and how they make money in the entire process of online betting.
Beginners must understand two terms:
Odds On: It is the potential amount you might win but will be less than the amount you have staked.
Odds Against: It is the potential amount you can win but is greater than the amount you have staked.
Making a profit is easier in odds on the bet as the initial money will is returned to you but you must stake an amount that is higher than what you want to gain. This way you are more likely to win.
The present scenario of online betting is quite exciting in India and with the time and popularity of the internet and online domains, it stands a chance to touch great heights of generating revenue.The Best Betting Sites in India
Min Deposit: $10