There's no law which states online betting isn't illegal in India. Online sports betting itself isn't a bit of a gray area within Indian legislation. Most countries have their own unique laws that allow online betting, though actual betting shops or clubs aren't allowed in many countries. For example, betting on horse races in the United Kingdom is against the law, and if caught doing it can result in substantial fines. On the other hand, betting online in India isn't illegal; it's simply a matter of regulation.
To get started, you'll need an online betting account, which is free to open in most countries. To transfer funds, you can either use a credit card, an online payment gateway like PayPal, or wire transfer services like Money Gram. You can then either get started with betting or wait for your player's bookmaker to approve your account.
Now, if you want to get started legally, one of the first things you should do is read up on the various Indian laws about online betting. A quick Google search should point you in the right direction. If you're not sure which law you should follow, you can always consult an attorney. Most bookmakers will be familiar with the law codes, and most players will use them to make sure they aren't breaking any rules. Since most online betting sites are based in India, it's easy to research the local laws. If you can't find anything online, your local newspaper should have information on the various laws and regulations regarding online betting in your country.
Once you have an online betting account, you'll need to create a "deposit" to start betting. This deposit should cover the commission fees and other charges (such as betting Exchanges) that the online betting company may charge. Depending on your financial situation, you may be able to get away with paying nothing, or only paying when you win a bet. There are also some companies in the US and UK that don't require you to pay anything to bet online, however, you should still read up on the laws for those countries.
The next step after you've gotten your legal permission to operate a sportsbook is to find a good sportsbook. It helps if the online betting site you're going to deal with is owned by a well-known betting company, as this makes it easier for you to get started betting online. You can find a list of good online gambling sites at the betting exchange. Browsing through these websites will help you get started betting online in India, and you'll probably meet some interesting people along the way.