Online gambling in India has come a long way. Legal measures are set up for playing games and depositing the money when making a bet. Even Indian casino players must check out the security of different payment gateways in the country. It is always advisable to play at a recognized and licensed casino. This will save you from any problems or legal issues later on. It is always better to be safe than sorry.
Let us now walk you through the legal considerations and security measures undertaken for payment systems in India.
Major Payment Gateways For Casinos In India
Gambling is fun and must be taken as same without breaking the bank. You cannot just waste the money you have kept for eating to spend on gambling. It is necessary to take precautions when choosing a casino in India. The government only recognizes certified and licensed casino operators. However, you must check out your state regulations before signing one.
After you have chosen the right casino and checked your state regulations, you first must make a deposit. You can do it through various authorized payment gateways available for Indian players.
PayTM
This fast and secure digital wallet operates only through the net banking system. You can deposit the bet and withdraw the winning amount through this payment method. Players will also get points from the digital wallet, like the bonus rewards from the casinos.
Google Pay
We all know it as GPay too. Google Pay is a globally recognized digital wallet payment method launched in 2011. It includes trustworthy and secure transactions whether you are paying through it or receiving the money through a bank. It does not charge any transaction fee. You can use it at any offshore or regulated Indian casino that accepts this digital payment method.
Skrill
This e-wallet accepts Indian currency too. It is also an efficient and secure method. This e-wallet payment and withdrawal method is accepted at global casinos. However, a withdrawal fee of 2.5% is higher than that of other e-wallet methods.
Debit/Credit Cards
Well, the players from the allowed Indian states who can bet and gamble can use their bank credit or debit cards. You can use the most popular Mastercard or the VISA card. These are linked with your bank and globally accepted by the casinos. It is a secure and legal way to make payments in most countries alongside India. The deposits through Mastercard or the VISA card can be made instantly, but the withdrawal of your wins can take up to a week.
Direct Bank Transfer
Direct bank transfer is also accepted in a few regulated casinos if you are not into third-party apps or do not use Net Banking. However, the government in India does not allow direct bank transfers. You can only rely on this method if your State regulations allow it. It is a secure method, but your withdrawal time may vary from casino to casino.
UPI/ Net Banking
The UPI or Unified Payments Interface is also one of the secure payment methods if you are skeptical about using third-party apps. It is accepted by all the commercial banks that function under the regulations of RBI. You can carry out highly safe deposits and withdrawals in your casino account. Putting in large card numbers will be no hassle, as your work can be done by simply putting in a PIN. The payment processing time may take some time because of the acceptance of authorization or while adding the third-party customer.
Legalities Related To Casino Payment Methods In India
The legal scenario of casino payments differs in India as related to foreign countries. Many countries even allow the players to win and withdraw the jackpot amount. A few countries may levy taxes on the jackpot amount, but large transactions are still not allowed in India. If you are trying to withdraw big wins from your casino account and that too from an offshore regulated account even, you may end up in money laundering activities.
You must pay the taxes at 30% of your wins and the 4% cess if the casino operator does not deduct it. The TDS needs to be deducted by the casino operators in India. You have to get the anti-money laundering certificate too. Always read the terms and conditions of a casino regarding the withdrawal of big amounts into your account.
On the other hand, cryptocurrency is allowed for Indian citizens, but it is only allowed in the regulated states. You can carry out anonymous transactions through cryptocurrency. The biggest benefit is the increased security and the ease of withdrawal of transactions. Since fewer cryptocurrency-related laws exist in India, players can always use this method. There will be no incident of fraud or hacking, as it can be done with other casino payment methods.
Security Measures Related To Online Casino Payments
You must also take care of your security when playing real money games. It is necessary to choose secure payment methods like e-wallets, bank transfers, or UPI transfers. Make sure to bet in a casino that uses SSL encryption and the HTPPS website to operate the casino. Online jurisdictions like the Malta Gambling Authority, Curacao Gambling, Authority, UKGC, etc., should regulate it. This means you will be playing at a trusted casino platform that takes care of all the security measures when betting on online casino games. Moreover, you will also have peace of mind that your funds are secure and will not end up dangling in some potential scam.
Well, gambling and betting on online casinos are entertaining. You cannot escape the financial part related to these games. Players must keep a vigilant eye on the legal and security measures when making casino payments. Check out if the casino is regulated and holds a viable license. Take time to read the terms and conditions stated about gambling and withdrawal of the winnings. Read the expert comments stated about each casino you have shortlisted.
Well, the cons are equally important to acknowledge as the Pros.
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Ana D.
•May 30, 2024
Lotteries and other forms of gambling have a colourful history in India. While lotteries are regulated under a central umbrella, how they are managed is subject to the discretion of state governments. However, the growing popularity of lotteries saw the Lotteries (Regulation) Act of 1998 and the Lotteries (Regulation) Rules 2010 introduced, which established detailed standards for the governments to follow.
Currently, lottery games are legal in 13 Indian states, though anyone of legal gambling age in India can buy international lottery tickets online. The ticket prices and prize pools of government lotteries in India vary depending on the lottery scheme and state in which it is regulated. Tickets for weekly draws begin at modest prices like ₹2 or ₹5 and increase for bumper draws and special schemes.
Akil Khan
•March 21, 2024
Whether you like it or not, luck plays a crucial role in gambling. And while many would argue that it’s an unreliable force, for many Indians, the ancient tradition of Vedic astrology offers a way to understand how luck works in the universe and how one could potentially manipulate it to work in one’s favour.
Vedic astrology (known as Jyotish in Sanskrit) is the practice of studying planetary positions, celestial influences, and karmic patterns to understand how these influence and shape human lives and destinies.
When it comes to gambling, some Indians look to Vedic astrology to boost their chances of success. By analysing astrological charts and horoscopes, and identifying cosmic connections, gamblers seek to find the most advantageous time to gamble, looking for lucky combinations of numbers, or even charms and rituals to help improve their chances.
Let’s look at this more closely:
Planetary configurations
"Muhurtha", an essential principle of Vedic astrology, indicates the opportune time to partake in certain activities based on planetary configurations. It also highlights when best to avoid certain activities. So, in the case of gambling, a player would wait for a favourable Muhurtha to maximise their chances of success.
Presence of the planets
Vedic astrology focuses on nine “grahas”, which are collectively referred to as the “navagrahas” (nava meaning nine). They include the sun (Surya), moon (Chandra), Mars (Mangala), Mercury (Budha), Jupiter (Brihaspati), Venus (Shukra), Saturn (Shani), Rahu (north node of the moon), and Ketu (south node of the moon). According to Vedic astrology, the planet Venus offers luxury and Jupiter provides immense wealth. A conjunction of Jupiter and Venus unafflicted with the moon is therefore said to bring good luck and prosperity.
Birth charts
Many Indians strongly believe in analysing their birth chart in every aspect of their life. This comes from Vedic astrology, which argues that the alignment of different celestial bodies at your birth can provide invaluable insights. In the case of betting, it could highlight a person’s gambling and risk-taking tendencies and subsequent strategies they could employ to maximise their chances of winning, translating into profits and success.
Astrology and numerology
Hindus love to rely on their favourite numbers, particularly when it comes to gambling, and generally prefer odd numbers over even. Seven and eight are considered auspicious numbers, representing success and prosperity. Many Hindus also use these numbers at the time of Diwali when, in some houses, gambling is a ritual. Another lucky sequence of numbers in Hinduism is 786, representing the Trinity of Brahma, Vishnu, and Shiva.
Akil Khan
•March 21, 2024
In casinos, we often hear phrases like good luck and good fortune. Not surprising, really, given how the majority of casino games are based primarily on chance, though some would claim that success is also down to mathematics and algorithms.
In any case, luck plays a crucial role in gambling, and many gamblers will have their own rituals they perform before games or even lucky charms they carry to improve their chances of winning.
Hinduism, one of the oldest practising religions in the world, believes in positive and negative energy, which could define your moves and outcomes. Furthermore, there are several ways one can channel these energies, whether through prayer or certain objects such as charms or symbols. We shall discuss these in more detail below.