Electronic wallets or e-wallets are digital bank accounts that enable gamblers to send and receive money to online casinos. With the large size of the internet today, there are several options of e-wallet available to punters in India and the rest of the world. Each of these wallets works uniquely; however, their general working principles are almost the same.

To set up an e-wallet account, you will need to enter your details alongside some other verification steps. The details would include your bank account details or details of your credit/debit cards, while the verification process will confirm that you own the account you have provided.

After your account has been confirmed, the next step is to put some funds in the account. There are different methods with which you can do this. You can decide to link your bank account to the e-wallet via your cards, or you can transfer your Indian Rupees via bank transfer.

Like your wallet holds money temporarily, your e-wallet helps you keep cash for transactions. The wallet serves as a secure interface for your bank account. So with your new e-wallet, you can make casino payments in India when necessary without ever having to share sensitive information with anyone.
 

Why Do You Need An e-Wallet To Gamble?

The following are some reasons why you need to get an e-wallet to fund your gambling accounts.

  1. You do not have to reveal your sensitive bank details to any casino operator.

    Security and safety are two words you cannot joke with when it comes to gambling online. Even though operators will say your details are safe with them, there is still a possibility that hackers might get access to your personal information that you have with them. However, when you use an e-wallet for payment, you only need your email address and password to make payments. Even if a third party was to get access to the information on your casino servers, they cannot access the funds in your bank account.

  2. Your gambling activity is kept away from your bank.

    Banks and other lending facilities in India usually refuse loans and mortgages to people with a long history of gambling. That's because they feel you might not have the capacity to pay back. The only way they can check this, though, is by looking through your transaction history. When you use an e-wallet, your gambling records will only appear on the e-wallet, private and for your eyes. On the other hand, your bank history will only show how you have moved money to and from your e-wallet.

  3. You have limited risk.

    Let's assume you get scammed by a fraudulent online casino. You will only lose the amount in your e-wallet. Compare that with a situation where you have your real bank details in play; you stand a risk of losing it all.

  4. Your transactions do not get blocked.

    One of the issues that come with gambling in India is how banks block transactions indiscriminately when they see you engaging in gambling activity. An excellent way to do away with the issue for good s to bypass banks altogether. With e-wallets, you can do away with bank payments and save yourself lots of stress.

Best e-Wallets for Gambling

1. Much Better

Even though Much Better is new to the e-wallet scene, they have been making waves since they started in 2015. As of today, they are favorites amongst punters in India and across the world. Your deposits with Much Better would be instant while you might wait for 24 or 48 hours to withdraw. The best part of using this method is, their minimum deposit limit is meager. For convenience, there is a mobile app that will help you monitor your funds. The only issue you might have using this method is that it's a new method, and very few bookmakers accept it. Here are the best MuchBetter casino sites in India.
  1. Sportingbet
  2. Bwin
  3. Betstars
  4. 888Sport
Other e-wallet options you can use include:
  1. Trustly
  2. Skrill
  3. Apple Pay
2. Paypal

Paypal has been around for more than two decades now, and they are famous across the world. As of today, more than 72% of the transactions worldwide happen with PayPal. The company allows 24-hour deposits and withdrawals. Your transactions with PayPal are without a fee, and withdrawal is usually within 24 hours. For ease, PayPal has a mobile app.

The only issue with PayPal is, verification can take a while. Here are some of the best Paypal casinos online:
  1. 888sport
  2. Bet365
  3. Betvictor
  4. Betway
  5. Racebets
3. Neteller

Neteller is one of the leaders in the e-wallet industry today. You can use their payment solutions for a variety of uses, including gambling. Interestingly, you can also use cryptocurrencies with Neteller. Deposits are instant, while withdrawal is usually within 12 hours. Your deposits do not attract a fee, while withdrawals might attract a fee. Like PayPal, there is a mobile app that you can use. The only issue with Neteller is, it needs extra passwords to access your account. Here are some of the best Paypal casinos online:

  • 888sport
  • Bet365
  • Royal Panda Sports
  • Betway
  • Fans Bet
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