UPI (Unified Payment Interface) has become the most popular online payment method in India. It was introduced by the National Payments Corporation of India in 2016.
Making deposits and withdrawals has never been this easy. All you have to do is login into your betting account and select the UPI payment option on the Deposit page.
If you don’t know how it works, in the next section we have provided all the details regarding UPI and how to use it on betting sites for payments.
How does UPI work?
UPI transfers money between 2 bank accounts from a mobile app or website. The fund transfer is immediate.
To use UPI as the payment method, you have to create a Virtual Payment Address or VPA of your choice and then connect it to your bank account (this is a one-time activity). Other than the virtual address, you don’t have to remember other details like the bank account number or IFSC code. Isn’t that great?
Transactions made through UPI are expected to outgrow card transactions in the next few years. All banks these days have incorporated the UPI interface in their banking platforms. The service is offered through a dedicated mobile app such as Google Pay, PhonePe, Paytm, BHIM, etc.
UPI is a widely used and secure payment service, it is considered to be the safest owing to its Two Factor Authentication system, and you can use it at any time of the day, every day of the week.
Today, UPI is the most popular method used to deposit funds on your favourite betting site. You can use Google Pay, Paytm, or PhonePe on your device to transact immediately.
How to Deposit Using UPI?
Want to play on a betting site that accepts UPI payments? Follow our steps below and you will know exactly what you have to do.
Every site is different, but the process to deposit via UPI is almost the same.
- Choose a betting site that accepts UPI and log in.
- Go to the Deposits section. Choose UPI from the list of methods.
- Enter the amount you want to deposit and click on confirm.
- Provide the Virtual Payment Address.
- You will receive a notification on your UPI mobile app to approve the transaction.
- Approve it by providing your UPI PIN.
- Once it is approved, the amount gets reflected in your betting account immediately.
Popular UPI apps for Betting
So, what are the different UPI apps one can use for betting? Here we have mentioned a few of the important options:
Google Pay (G Pay)
Google Pay is one of the convenient payment methods when you want to make deposits in your online betting account. It eliminates the usual problems like delays in credits and also most notably provides a safe and secure platform for fund transfers.
All betting enthusiasts will certainly agree on how important quick and easy deposits are when you want to place sports bets or want to play your favourite casino games with real money. Google Pay provides you with the satisfaction of immediate deposits while safeguarding your sensitive information.
Opening a Google Pay account is free and also there are no transaction charges involved. So, the amount you type in your app is the same amount that will reflect in your online betting account. It is important to have a Google account and then download the ‘Google Pay app’ from the Play Store or App Store. Then the steps to follow are simple.
Since Google Pay is technically Unified Payment Interface enabled while doing the funds transfer you will need to simply enter the specific VPA. On some betting sites, it may be needed to first transfer the money to the operator’s account manually and then enter the transaction ID where specified to complete the deposit process.
To have smooth and enjoyable online sports betting and casino gaming journey, Google Pay is the mode to select. The benefits are numerous and include:
- Deposits are immediate.
- Google Pay is a very safe and secure payment method.
- Bankroll management becomes easy.
- When Google Pay payments are made you can get digital scratch cards.
- Easy steps to install and set up a Google Pay account.
- Google Pay transactions work with all top Indian Banks.
So Google Pay is one of the best and most popular modes for UPI funds transfer and the default option for many players today.
PhonePe
Rapidly on the path of becoming one of the most favoured UPI payment apps in India, PhonePe is here to stay. This app is accredited by the Reserve Bank of India and has all safety and security features that have been thoroughly reviewed.
PhonePe can be used both as an e-wallet as well as a UPI payment app. Inter-bank transactions can be done in seconds using the PhonePe UPI method. Since both deposits and withdrawals can be done via this method, bettors can breathe a sigh of relief. A single method to do all financial transactions on betting sites makes it easy to keep track of the monies coming in and out of the betting accounts.
Let us have a look at how PhonePe has an edge over its competitors:
- PhonePe can be easily used to deposit money on most of the betting sites that offer UPI payment methods.
- The PhonePe UPI method is quite a convenient payment mode to transfer money on betting sites in INR.
- Fund transfers are instant when done either way, from the PhonePe wallet or straight from a Bank account.
- There are no additional transaction charges for PhonePe fund transfers done on betting sites.
- Payment transactions are secure and reliable.
Knowing all the above benefits, we are sure you will want to know how to deposit on betting sites using the PhonePe UPI method. First and foremost, you need to download the PhonePe app and create an account using your mobile number. Then add your Bank account details and after choosing a UPI enabled bank, you also have the option to set your VPA / UPI ID. VPA means Virtual Payment Address. This unique ID enables a person to make online financial transactions without typing in their bank details every time.
PhonePe is as simple as this, and now you are all set to use PhonePe UPI to have a hurdle-free online betting experience.
Paytm
Paytm was founded in 2010 and as quoted by Indian media, “Paytm has made Banking as simple as ABC”. Originally, Paytm was used as an online platform for mobile recharges as well as paying bills. In future, they may offer Bitcoin services too. This will be welcome news for online bettors and gamers.
Paytm being the third-largest UPI (Unified Payment Interface) platform has a competitive advantage over other players in the market, a few of them being:
- Paytm has a Banking license that allows smooth and risk-free fund transfers.
- Always ahead in getting newer and more convenient digital payment offerings to Indian users.
- Regulated by the Reserve Bank of India, and they provide a safe and secured payment platform.
- Paytm can be used as a UPI payment app or even independently as an e-wallet.
- Depositing via Paytm incurs no extra fees.
- Both deposits and withdrawals can be done in Indian currency on online sites.
- Adding funds to the Paytm wallet can be done through multiple methods including Debit and Credit Cards.
So, as they say, “Payment Karo” and be assured of safe, secure, and fast money transfer transactions via Paytm on online betting sites.
How to Withdraw Using UPI?
Some questions always arise when one wants to withdraw some cash out of their winnings. How do you withdraw using UPI? As already discussed above, withdrawals can be conveniently done through Google Pay, PhonePe, and Paytm methods using UPI.
All good online betting and casino sites will list UPI as one of their primary withdrawal options. So to proceed with your withdrawals you can follow the instructions below.
- Log in to the betting account where you want to make a withdrawal and go to the Withdrawals section.
- Choose UPI to cash out your wins.
- Enter any personal details and VPA address for verification.
- Once verification is complete, you have to click on the withdraw button.
At present, UPI only allows withdrawals up to INR 1 lakh per day. But given its increasing popularity, we expect bookmakers to increase the withdrawal limits in the future.
Many trusted betting sites and casinos offer the slick and modern UPI payment method. The speed and ease of transferring funds are what sets it apart from other methods. So go ahead and start transacting safely using UPI today.
