If you’ve tried depositing to an offshore betting site from India, you know what happens. Transaction declined. Payment failed. Account flagged. Indian banks and payment apps block gambling across the board, and there’s no way around it using traditional methods.
Cryptocurrency changes that. It’s not a loophole or a hack – it’s a completely separate payment system that Indian banks have no control over. This guide explains how it works and how to get started.
Why Indians Use Crypto for Online Betting
Indian banks block gambling transactions. UPI fails. Cards get declined. This is deliberate policy under the Promotion and Regulation of Online Gaming Act (PROGA) 2026.
Cryptocurrency bypasses this entirely.
When you deposit using Bitcoin or USDT, the transaction never touches the Indian banking system. Your bank sees a crypto purchase on WazirX or CoinDCX, which is legal. The transfer from your wallet to a betting site happens on a global blockchain network that Indian regulators cannot block.
This is why millions of Indians now use crypto for IPL betting, casino games, and sports wagering. The technology solved a problem that had no other solution.
How Crypto Betting Works
The process has four steps:
- Buy cryptocurrency on an Indian exchange (WazirX, CoinDCX)
- Transfer it to a personal wallet (Trust Wallet)
- Deposit to a betting platform
- Withdraw winnings back through the same route
Total setup time is 20-30 minutes the first time. After that, good news! Your new deposits will only take 5-10 minutes.
The key insight: your bank only sees step one. Steps two through four happen outside the banking system entirely.
Crypto Betting vs Traditional Payments
Here’s how crypto compares to traditional payment methods for Indian bettors.
| Feature | Bank / UPI | Crypto |
|---|---|---|
| Deposits | Blocked | Works |
| Withdrawals | 3-7 days | 5-15 minutes |
| Bank statement | Shows gambling | Shows crypto exchange |
| Fees | 3-5% | Under 1% |
| Privacy | Full KYC | Email only |
The speed difference matters most. Traditional offshore sites hold withdrawals for days. Crypto withdrawals complete in minutes – DaVegas, the platform we use most, averages about 7 minutes.
How to start Crypto Betting in India
Follow these four steps to make your first deposit using cryptocurrency.
- Step 1: Buy Crypto
- Download WazirX or CoinDCX. Both are FIU-registered and accept UPI.
- Complete KYC with PAN and Aadhaar. This is required by Indian law for exchanges, but the exchange is not a gambling site.
- Deposit INR and purchase USDT. We recommend USDT over Bitcoin because its value stays stable. A ₹10,000 Bitcoin deposit can drop to ₹8,500 before you finish betting if the market moves.
- Step 2: Set Up a Wallet
- Do not transfer directly from an exchange to a betting site. Indian exchanges monitor transactions and have frozen accounts for gambling-related transfers.
- Download Trust Wallet (free, iOS and Android). Create a new wallet and write down your 12-word recovery phrase on paper. This is your only backup.
- Step 3: Transfer to Your Wallet
- From WazirX or CoinDCX, withdraw USDT to Trust Wallet.
- Select TRC20 network. Fees are ₹2-5. ERC20 does the same thing but costs ₹400-2,000. No reason to pay more.
- Funds arrive in 2-5 minutes.
- Step 4: Deposit to Betting Site
- Open your betting platform, go to Deposit, select USDT (TRC20), copy the address.
- In Trust Wallet, send USDT to that address. Funds appear in 2-10 minutes.
- We use DaVegas for most betting – withdrawals under 10 minutes, deep cricket coverage, IST support hours. Welcome bonus up to ₹100,000 with 40x wagering.
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Best Cryptocurrency for Betting: USDT vs Bitcoin
Not all crypto is equal for gambling – here’s what to use and what to avoid.
| Crypto | Fees | Speed | Volatility | Verdict |
|---|---|---|---|---|
| USDT (TRC20) | ₹2-5 | Works | None | Recommended |
| Bitcoin | ₹200-800 | 10-30 min | High (5-10% daily) | Use if you already hold BTC |
| Ethereum | ₹1,000-2,000 | 5-15 min | High | Avoid |
USDT is stable – ₹10,000 deposited stays ₹10,000. Bitcoin can swing 5-10% while you’re playing, meaning your balance changes even if you don’t bet. Ethereum fees make it impractical for anything under ₹50,000.
Is Crypto Betting Legal in India?
Indian gambling law targets operators, not individual players using offshore platforms.
Indian law targets operators, not players.
PROGA 2026 prohibits Indian companies from running gambling platforms. It does not prohibit individuals from accessing offshore sites.
Crypto betting platforms operate from Curaçao, Malta, and similar jurisdictions. They’re outside Indian regulatory authority. Enforcement focuses on unlicensed Indian operators, not players using offshore sites.
| State | Status |
|---|---|
| Sikkim, Goa | Licensed local casinos |
| Maharashtra, Telangana | Stricter local laws |
| Most other states | No specific rules |
Crypto Betting Tax Rules in India
Winnings from crypto betting are taxable under India’s 2022 Virtual Digital Assets framework.
Crypto gains taxed at 30% flat under 2022 VDA framework. 1% TDS on sales above ₹10,000.
If you deposit ₹10,000 and withdraw ₹15,000, the ₹5,000 gain is taxable. Keep records.
FAQs
Common questions from Indian players about crypto betting.
How fast are withdrawals?
Most platforms pay out in minutes. DaVegas averages 7 minutes. Anything over an hour without explanation is a problem.
Will my bank know?
No. Your bank sees a crypto purchase on an exchange. The betting site transfer happens on blockchain, outside banking.
What’s the minimum deposit?
Varies by platform. DaVegas: ₹500. BlueChip: ₹300. BC.Game: No minimum.
Do I need identity documents?
Registration needs email only. KYC triggers for larger withdrawals, typically around ₹100,000.
Best Crypto Betting Site for India
After testing dozens of platforms, here’s where Indian players should start. For sports betting and cricket, we recommend DaVegas. Fast payouts, IPL coverage with ball-by-ball betting, IST support.
Have any more questions?
For casino games, see our best crypto casinos guide.
For Bitcoin-specific options, see bitcoin casinos.
