Is Online Betting Legal in India?
There is no provision in law that categorically states that online gambling is illegal in India. Casinos are outlawed under the Public Gambling Act, 1867 but since the internet was not even thought of when this Act was drafted, it does not cover online activities.
This means that millions of Indian bettors can make wagers on global sports, on foreign websites without any actual danger. For instance, online IPL betting is a major industry and actually millions of bets are placed on this tournament alone.
Sports gambling is in a type of grey area within the framework of Indian law. Lots of states have laws that allow for gambling on horse races at race tracks but not standalone bookies or betting shops.
The Indian government is looking to make changes in their gambling laws over time, as it seeks to regulate some of the huge amounts of money that are wagered outside of the country. In 2014, one state, Sikkim, passed some legislation and gave its first license to an Indian gambling website.
However, currently, there are no big changes in progress; hence, Indian gamblers will still be able to enjoy sports betting with such popular bookmakers as the Bet365.
Deposits and Withdrawals at Indian Betting Sites
Among the most essential aspects of online gambling is the ability to credit your account with money. Furthermore, in case you win a bet and wish to withdraw your earnings, it is imperative that this can be done within the shortest time possible and without any hassle.
In Indian, this is often not easy because many potential online bettors lack an account with a bank. The easiest way to avoid lack of a bank account is by using Paysafecard.
India has very few locations where one can buy Paysafecard. You can therefore try visiting the website to see whether there is a vendor nearby. On the other hand, if you don’t have an account, you can always ask someone you trust to do that for you.
It is easier if you have an account with a bank; for instance, you can choose to use e-wallets like Skrill and Neteller when funding top Indian gambling sites. We will expound on them in the following discussions.
How to Withdraw Money From a Betting Site in India
Taking money from your betting account is easier than depositing. You have completed the difficult task of creating the account and scoring a winning bet, so now you just need to click withdraw.
Just as in depositing, withdrawing money on an Indian betting platform is conducted through the ‘cashier’. Proceed to the cashier and click on withdraw, then enter the amount.
The money usually takes 1-3 working days to process but there are also faster options such as Neteller withdrawals that take only a few hours.
Know Your Customer Checks
While withdrawing money from an online gambling platform, you might be requested to disclose certain additional details. This is done to avoid illegal betting and also keep in mind that you are secure when gambling.
In case you are asked to do this for Know Your Customer verification, usually you simply need to provide a photocopy of an identification document such as a driving license or passport. However sometimes other documents will be required and that can include:
- Payment ID – This could be a copy of a bank card or recent statement
- Proof of Address
In case a betting site asks you for such details, don’t panic. It is like this so as to safeguard bettors from any potential risks. Once the required information has been provided, your withdrawal will be processed normally.
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