If you are an avid gambler, then you have firsthand experience of how it feels to lose a bet. The chances are that you’ve probably been close to winning some big money, only for your bet to fall through at the last minute. This can be quite heartbreaking. However, not all of your bets will end up in a loss. If you polish your strategy and keep trying, you could be on the verge of winning big. And when it finally happens, you can’t wait to withdraw your money and have a good time.
There are many ways to withdraw winnings from betting operators in India. This ranges from credit cards, bank transfers, e-Wallets, and IMPS.
As an Indian punter, you expect that withdrawing your winnings from your chosen sportsbook will be super easy. Unfortunately, that’s far from the truth. The withdrawal process can be extremely frustrating, especially if you’ve never done it before.
There are lots of steps that you should get right. But when you are excited, your ability to concentrate on the task at hand could be compromised. Furthermore, you might have to wait for several grueling days to enjoy your money.
Luckily, that’s not always the case if you familiarize yourself with various withdrawal options and processes. You can always withdraw your winnings effortlessly.
In this article, we are going to extensively elaborate on how you can withdraw money from betting sites in India. At the end of it, you should be well equipped to withdraw your winnings from the popular betting sites in India.
Related Reading: Best Betting Site In India
The withdrawal process
For most betting operators in India, the withdrawal process begins with verifying your account. Betting sites make this step mandatory for security reasons. This is to ascertain that they are sending money to the rightful winner and not an unscrupulous imposter or hacker. So, before you initiate the withdrawal process, you need to first verify your account. How is this done? It is extremely easy.
It revolves around sending or uploading the relevant official identification documents issued by the government. Once you get this out of the way, the process is rather smooth. The only thing you need to ensure is that the information on the documents match the details you used to open your account.
Usually, the verification process may drag on for 72 hours. But once it’s completed, you can withdraw your winnings without a problem.
You might be wondering what kind of documents are needed for the verification process. Below is a list of identification documents that most popular betting sites ask for;
- Driving license
- PAN card
- Credit/Debit card that you use to deposit money into your betting account
Given that a passport is an internationally recognized document, you are undoubtedly going to have an easier time using one. You will be required to submit a copy of both the front and the back pages. The good thing about using a passport is that the operator will not ask for additional information. But using any other identification document may trigger further queries.
If you prefer to use your credit or debit card, then it is important to blur or block the 3 digits that make up the CVV code and the 8 middle digits as a precautionary security measure.
Sometimes, the operator may ask for some proof of address. When this happens, you can upload utility bills, bank statements, or credit card statements.
The withdrawal process varies from one bookie to the other. But after you have verified your account, you just need to click on the withdrawal section, enter the amount you would like to withdraw and initiate the process.
As we pointed out earlier, there are numerous methods that you can use to withdraw money from your betting account. In this section, we are going to list some of the most popular methods.
E-wallets- Neteller and Skrill
Neteller and Skrill are indisputably the leading e-wallets across the globe. One of the reasons why these two payment options are popular is the convenience they offer. Withdrawing money using these options is easy, safe, and quick.
Besides having your winnings credited to your Skrill/Neteller account instantly, you will not be charged for the transaction. Nonetheless, moving the money from the e-Wallet to your bank account may attract a fee. And consequently, foreign exchange fees may apply.
Debit cards (Master Cards and Visa Cards)
Master Cards and Visa Cards are arguably some of the most popular withdrawal options for Indian gamblers. If you have used any of these cards to fund your betting account before, the withdrawal process tends to be very smooth. This is because your details are already saved in the system.
Debit cards are not only versatile, but also safe. You can use them to effortlessly withdraw your winnings.
The best part is that withdrawing your winnings through a debit card doesn’t incur any charges. However, the bad news is that you may have to wait for one to five days for the funds to be released into your card.
Bank wire withdrawals
Bank wire withdrawals aren’t every gambler’s cup of tea. While some betting operators in India such as 10Cric support this withdrawal method, the process is usually lengthy. It takes days to be completed. Apart from that, some operators don’t allow bank wire withdrawals. It all depends on whether your chosen betting site allows bank transfers in India. Moreover, setting up a bank transfer is a time-consuming process.
For example, Leo Vegas doesn’t facilitate bank wire withdrawals to any of these banks; HDFC Bank, AXIS Bank, Bank of America, and the Standard Chartered Bank. As a punter in India, you shouldn’t rely on bank transfers to withdraw your winnings. You will be much happier when using the most popular methods such as debit or credit cards and e-wallets.
The best thing about bank wire withdrawals is that betting operators don’t charge anything for the withdrawal process. But the bank may have some extra charges. A typical withdrawal process is processed within 5 days.
Regrettably, PayPal has a strong anti-gambling policy in India. Only gamblers from Denmark, Austria, Greece, Finland, Italy, Spain, Ireland, United Kingdom, Sweden, and Portugal are allowed to withdraw winnings on PayPal.
However, there are some loopholes that Indian players attempt to employ so that they can withdraw their winnings from various operators. But this usually comes with a high risk of being banned by PayPal for good. Even worse, PayPal reserves the right to freeze your account balance for a long time in case they find you guilty of infringing their terms.
Only a few bookmakers offer Western Union as a withdrawal option for Indian punters. These are the likes of bookmaker.com, who focus on the North American Market. Besides that, withdrawing your winnings on Western Union is quite expensive. More so, after factoring applicable charges and foreign exchange rates.
Most bookmakers won’t mind paying willing Indian punters with a paper cheque. They will mail it to your Indian address.
However, this is a time-consuming process, and as a gambler, the chances are that you want to access your winnings as fast as possible. Sadly, it may take a couple of weeks to receive the cheque. And since it will be in GBP or USD, your bank might take another 60 days to process it. As you can see, this is not quite ideal.
What fees apply to cashouts?
A majority of the popular betting operators in India don’t charge any fees for cashing out. This is for the most common withdrawal methods such as credit cards and e-wallets. For less popular withdrawal methods such as wire transfer, a small fee may apply.
How long should you wait for the withdrawal process?
This depends on the method of withdrawal that you use. For instance, when you use an e-wallet, withdrawals are almost instant. The transaction should be completed within 24 hours. But bank transfers and debit cards may take anywhere between 1 to 5 days. However, bank transfers may be delayed for more than a week.