There are plenty of websites where you can bet on various virtual sporting events and games. Virtual betting is also known as online gambling or cyber casinos. This is because you don’t need to visit a real casino to enjoy betting on games of chance. You can simply log on to one of the many available online gaming sites, register an account and start betting with your own personal bank card. While many sites accept payments through e-wallets like PayTM or other conventional bank transfer methods, there are few sites that prefer you to use your Visa or MasterCard to make a deposit before playing any games. Unsurprisingly, these services won’t let users use their real name, email address, home address and other personally identifying information when registering an account.
Top 10 Best online Sports Betting Sites that accept bank card in India
What is a bank card?
A bank card is an electronic device that allows its holder to make payments and withdraw cash from ATMs or any POS terminal associated with their bank account. They can also be used to make purchases online or transfer money to others. The ease of use has made bank cards one of the most preferred methods of payment. There are several different types of bank cards, including credit, debit, prepaid and cash withdrawal cards. Credit cards are usually issued by banks to people who have a bad credit history and cannot get a loan from a bank or financial lending institution.
How to place Bets with bank card?
There are few simple steps how to place bet using bank card:
- The first step is to open a new account with an online betting site that accepts bank card deposits.
- You’ll have to provide the site with your name, date of birth and a valid ID proof. Some sites will also ask for your residential address.
- Once you’ve signed up, you’ll be prompted to select a method of payment.
- Select ‘Bank card’, enter your card details, and make the minimum deposit of around Rs 1000.
- You can also choose to make a maximum deposit of Rs 10,000.
Deposit and withdrawal options
If you look at any decent betting site, you’ll find that they have multiple deposit and withdrawal options. When it comes to a bank card, the most common method of depositing is by simply adding the amount to the card’s balance. You can either choose to make a single large deposit or multiple smaller deposits. This is similar to what you do when you make an online shopping purchase. The only difference here is that the amount you deposit will be withdrawn from your card’s available credit limit. In the case of Visa and MasterCard, you can withdraw money from your debit card’s available credit limit. This can be done either by visiting an ATM or using your bank’s online system. You can also directly withdraw money from your credit card. This is not recommended though as it will attract a high service charge. Using your bank card to make an online payment is a safe and hassle-free process. When you click the “Pay Now” button, you’ll be redirected to your card’s payment page. Simply enter the amount you wish to pay and click on “Confirm”. You’ll then be redirected back to the original site where you can see that your payment has been successfully completed.
Is a bank card safe?
There are plenty of ways in which you can use your bank card online – be it to make an online purchase or to transfer money to a friend. One of the most popular methods is to use it as a deposit option on a virtual betting site. You can ask your friend to put in some money and let him use your bank card to make the deposit. While this may sound like a safe and secure way of borrowing money, the truth is that it actually isn’t. You see, the money that you put on your credit card actually comes directly from your bank account. You may be thinking that the bank will simply put that money back into the account when the friend pays the amount. This may be true in some cases but it isn’t a guarantee. Let’s say that your friend doesn’t pay the amount he promised to. Then, your bank account will suffer a negative balance. And you’ll have to pay the amount immediately. The same goes for your friend’s bank account. If he doesn’t pay the amount, his account will have a negative balance.
Fees and limits
There are no set rules when it comes to the deposit and withdrawal limits at virtual betting sites. This is because you’re not dealing with a real casino where the site owner has to maintain a certain standard. A lot of sites will have a minimum withdrawal amount and some may even charge a small fee for the service. This is why it’s important to read the terms and conditions of the site before you start betting. Another thing to note is that you’ll usually have to pay taxes on your winnings if you win a substantial amount. The tax rate may vary depending on your country of residence.
Types of bank cards
There are various types of bank cards you can use to make a deposit at an online betting site. Some of the most common include credit cards, debit cards, prepaid cards and virtual cards.
- Credit cards are the most popular method of depositing money. Credit cards are like an unsecured loan that’s issued by the bank.
- Debits cards are linked to your savings account. Prepaid cards are like debit cards but are not linked to a bank account.
- Virtual cards are prepaid cards that don’t have a physical card.
FAQs
Is it safe to use your bank card to make a deposit?
This depends on the type of card you use. Credit cards are the least secure. So, you’re better off using a debit card.
What happens if you don’t have enough money in your bank account?
Your card will be blocked.
What do I do if my payment is declined?
For betting customers in India, it is likely that credit card payments will be declined from time to time. This is due to the specific financial institution and laws in India, so be sure to contact both your betting site and credit card provider in this instance.
