While online sports betting and wagering is technically legal in India, outdated legislation and a lack of regulatory maturity has created a significant grey area in the marketplace.
While this broadly allows established international betting brands to operate legally in India and target local punters with their verticals, however, it can be difficult for new players to get their head around the market and successfully identify reputable sites.
So, what separates reputable sites from rogue operators, and what are the key things to look for when comparing the Indian betting market?
1. Is the Operator Licensed?
As the Indian betting market is unregulated and domestic operators are prohibited from trading legally, there’s currently no need for an official regulator or licensing body in India.
However, the international brands that are free to target Indian nationals should be fully vetted and licensed by external overseas bodies, depending on the precise jurisdictions that they operate in across the globe.
For example, Betway is a Malta-based operator that runs verticals in a number of different markets, including the EU and the UK. This means that it should have accreditation from both the UK Gambling Commission (UKGC) and the Maltese equivalent, and this should be displayed clearly on the brand’s website.
If you can’t see any form of official licensing, this may mean that you’re dealing with a rogue operator that’s attempting to steal your personal information or cash.
2. Does the Site Have Widely Accepted and Secure Payment Methods?
If a rogue operator is attempting to steal your money, they’ll most likely achieve this by taking possession of your cash whenever you complete a deposit or withdrawal.
With this in mind, you’ll need to pay close attention to the range of payment options provided by potential operators, in order to ensure that they’re familiar, secure and capable of effectively safeguarding your cash.
We’d definitely recommend identifying platforms that offer local bank transfers, as this is typical of a reputable site that’s keen to cater to the needs of its numerous customers. More specifically, those that allow payments through secure sites like EcoBanq and GlobePay are more likely to provide viable options, so this is definitely worth considering.
On a similar note, you should look for sites that process funds through local e-wallet platforms such as UPI, RuPay and IMPS. When offered alongside internationally accepted platforms like Webmoney and Neteller, you can choose from a wide range of methods that should provide peace of mind.
3. Is the Site Secure?
Similarly, it’s fair to surmise that rogue operators are unlikely to take the time to encrypt their sites or implement robust security measures.
Remember, the industry standard dictates that sports betting operators must boast 128-bit SSL encryption as a minimum, and this is certainly true in the case of international operators like Unibet and Dafabet.
So, if you stumble across a site that boasts this type of encryption (along with secure login portals and registration processes), the chances are that you’re dealing with a reputable brand.
If not, you should collect your e-wallet, run for the hills and don’t look back until you’ve found a sports betting firm that you can trust!