As one of the world's most recognisable brands in the world of online payments, Mastercard is thought to be up there with the safest and secure methods for deposits and withdrawals.
With almost all online operators in India allowing Mastercard to be used as a payment method, this is an option open to the vast majority of people who want to gamble online in India.
But are there any cons to using Mastercard debit and credit cards? We will answer that question and tell you everything you need to know about this payment method in our ultimate guide.
Formerly known as both Interbank and Master Charge, Mastercard was founded over 50 years ago and the company's shares are now traded on the New York Stock Exchange in America.
Mastercard recorded revenues of more than $15 billion in 2019, showing just how big the company is, while some 22,000 banks and financial institutions are signed up to use this option.
In recent years, Mastercard has also been making heavy investments in India, with hundreds of millions of US dollars spent in Pune and Vadodara.
An investment in cashless apps and technology has also been made by Mastercard in India of late, so the company's presence in the country is expanding all the time.
As with any other payment method, the first thing players need to do if they want to use Mastercard debit and credit cards on a betting site in India is creating an account there. Once that has been done, the cashier section of the site can be used to make the first deposit.
It should be a quick and simple process that anyone who is at all familiar with online payments can complete in a matter of moments. Just follow the instructions that appear on the screen.
Most online casinos and betting sites that can be accessed in India allow Mastercard to be used as a payment method for both depositing and withdrawing.
Keep in mind that using a Mastercard debit or credit card to make a deposit might mean the same method has to be used when it is time to take cash out of the online gambling account too.
Depositing with Mastercard should be straightforward and the process ought to be completed instantaneously, giving players a chance to place bets or start their favourite games right away.
Generally speaking, all players will have to do is decide how much money they want to deposit and enter this amount into the relevant box.
Once the card details have also been added by following the on-screen instructions, players can quickly confirm the deposit and get up and running on their favourite online gambling site.
Withdrawing with Mastercard follows a similar process, but there is a chance the online operator in India will ask the account holder to provide verification documents.
While this can be frustrating as it often leads to delays, it is necessary in order for betting sites and online casinos in India to be able to protect themselves from potential money laundering.
Examples of verification documents that might be required include proof of ID, like a passport.
The cashier section of the online operator is where withdrawals are processed. Again, enter the amount of cash you want to withdraw and fill in any other requested details.
There are various advantages of using Mastercard debit and credit cards on a betting site in India, including the following:
However, along with the advantages come some downsides, such as these:
Players must simply decide for themselves whether the pros of using Mastercard debit and credit cards on a betting site in India can outweigh the negative side of this payment option.
Yes, it is usually allowed to claim bonuses from an online casino in India after using Mastercard.
Sometimes it might be necessary to enter a promo code, while on some sites the promotions and offers they have up for grabs to new users are applied automatically.
Bonuses such as free spins and deposit match bonuses are among those likely to be available.
With Mastercard up there with the most famous online payment methods in the world, it is fair to say there are not many safer or more secure options to use for deposits and withdrawals.
However, it is fair to note that players who select this option will have to share personal financial information with the online operator they play with. This is not the case for some other options.
It is usually the case that online casinos and betting sites will have minimum and maximum limits in place for deposits and withdrawals, yes.
These vary by a great deal from site to site, so it is best to check before signing up with them.
Most banks in India will offer their customers the chance to sign up for Mastercard, which can then be used to make deposits and withdrawals from online gambling sites in India.
An alternative option could be to go directly to the Mastercard site to apply for a new credit card to be issued through the company.