What Is UPI?
Unified Payment Interface, commonly known as UPI, is a highly regarded mobile payment system in India that enables instant and free money transfers between bank accounts. Introduced in 2016 by the National Payments Corporation of India, UPI was developed to streamline and secure online transactions for the Indian populace.
Since its launch, UPI has rapidly gained traction among enthusiasts of sports betting and online gambling in India. Its user base expanded exponentially, surpassing 150 million by the end of 2019. UPI is now a prevalent method for financial transactions, widely used in retail shops, supermarkets, and by online platforms, including popular betting sites, making it an integral part of India’s digital payment landscape.
How To Use UPI in India
To utilize UPI for transferring funds in India, the first step is to acquire a UPI ID. This ID acts as a unique identifier linked to your bank account, enabling you to send and receive money effortlessly.
Using a UPI account simplifies transactions significantly. Instead of needing the recipient’s ID, you can simply select their contact from your phone book and opt to transfer money via UPI. However, for the transaction to proceed, you must input your UPI Pin, which is a 4 or 6-digit code. The good news is that each UPI user has the liberty to create a PIN that suits their preference, enhancing both convenience and security.
How Does UPI Work?
In India, UPI has become the talk of the town for bank account holders looking to transfer funds. This system enables money movement between bank accounts via a mobile phone, ensuring a secure and convenient process without the need to physically visit banks or handle cash.
UPI leverages existing frameworks such as the Aadhaar Enabled Payment System and Immediate Payment Service to facilitate smooth transactions across different bank accounts. It’s adept at handling both one-time and recurring payments, making it suitable for a variety of expenses like school fees, utility bills, and subscription services.
To use UPI for sending or receiving money, the essentials are:
- A smartphone equipped with internet access.
- An active bank account linked to the mobile number.
- The mobile number registered with your bank account.
This setup ensures a seamless and secure transaction process, right from the comfort of your phone.
How To Deposit on Betting Sites Accepting UPI
Depositing funds on betting sites that accept UPI is remarkably straightforward, especially if you’re familiar with other digital payment systems. UPI was developed specifically to simplify the process of transferring money virtually.
To successfully deposit money on a betting site using UPI, here’s what you need to do:
- Choose the UPI Option: On the betting site’s deposit page, select UPI as your preferred payment method.
- Enter Your UPI ID: Provide your unique UPI ID in the required field.
- Confirm the Amount: Enter the amount you wish to deposit.
- Authenticate the Transaction: You’ll receive a payment request on your UPI-linked mobile app. Approve it by entering your UPI PIN.
- Completion: Once authenticated, the transaction is processed instantly, and the funds are reflected in your betting account.
This easy and efficient method makes UPI a favorite among Indian bettors for funding their betting activities.
1. Download the UPI wallet
To start depositing on betting sites via UPI, the first step is to set up your Unified Payments Interface (UPI) wallet. This wallet acts as the launchpad for all your transactions, and it’s easily accessible for download on both the Google Play Store and the App Store.
Here’s how you can choose and set up your UPI wallet from popular options like Paytm, BHIM, PhonePe, Google Pay, and Mobikwik:
- Select and Download a UPI Wallet: Choose your preferred UPI wallet from the above options and download it to your device.
- Link Your Bank Account: After installing the UPI wallet, link it with your existing bank account. This step is crucial as all UPI transactions to the betting sites will be executed via this bank account.
- Provide Necessary Details: During the setup, you’ll be asked to input your bank account information and other relevant details for identity verification and fraud prevention.
- Follow the Setup Guide:
- Open the UPI app and input your phone number. For dual sim users, select the preferred SIM slot.
- The app will send an SMS from your phone for verification.
- After verification, select your bank from the provided list. Ensure that the mobile number used is registered with your bank account, as the UPI app uses this number to retrieve your bank details.
- If this is your first time linking a bank account, you’ll be prompted to set up a UPI PIN. This will also require your debit card details.
- Complete the Linking Process: Once you’ve set up your UPI PIN, your bank account will be successfully linked to your UPI wallet.
With these steps, your bank account will be connected to your UPI app, and you’re all set to make your first deposit on betting sites accepting UPI payments.
Generating your UPI PIN
To create your UPI PIN, the first step is downloading a UPI app such as Google Pay or Paytm on your mobile device. Once the app is installed, you’ll need to create a UPI profile and then follow these steps to set up your PIN:
- Launch the UPI App: Open your chosen UPI payments app, like Google Pay, on your smartphone.
- Access Profile Settings: Tap on the profile icon located on the app’s homepage.
- Navigate to Payment Settings: Scroll to find the “Payment Settings” section.
- Select Linked Accounts: Click on “UPI and Linked Accounts” to view a list of your linked bank accounts.
- Set Up Your PIN: If your account doesn’t have a PIN set up already, you’ll see an option to create one. Select this to proceed.
- Enter Card Details: You will be asked to input the last 6 digits of your debit card and its expiration date.
- Authenticate with OTP: After providing your card details, you’ll receive a One-Time Password (OTP) on your registered mobile number.
- Choose and Submit Your PIN: Enter the received OTP, then select a PIN of your choice for your transactions. Finalize the process by clicking the submit button.
Following these steps will successfully set up your UPI PIN, enabling you to carry out secure transactions with ease.
2. Make your UPI deposits
Depositing funds at UPI-enabled betting sites in India is a straightforward process, akin to other common deposit methods. Recognizing its widespread acceptance among reputable online betting platforms, the system has been designed for simplicity, ensuring a hassle-free transaction experience.
Typically, UPI cricket betting sites offer two primary ways to transfer funds: directly to their local bank accounts or using their UPI ID, also known as a virtual payment address. Both methods are user-friendly, and we’ll delve into the specifics of each to provide a clear understanding.
Additionally, there are two less common methods for making UPI deposits to betting sites. While these aren’t as frequently used in the cricket betting scene, we’ll cover them as well for those who might find these options available on certain betting platforms.
1. Transfering funds through UPI using the account number
One of the easiest methods to deposit funds on cricket betting sites in India using UPI is through the operator’s bank account. For this, you’ll need the account holder’s name, their bank’s IFSC code, the account number, and the amount you wish to deposit.
After entering these details for the first time, future transactions become even more convenient as you won’t need to re-enter them for each transfer. This method streamlines the process, making it a quick and efficient way to fund your betting account via UPI.
2. Transferring funds using VPA
Another method to transfer funds on cricket betting sites in India through UPI is by using a Virtual Payment Address (VPA). Each user has a unique VPA associated with their UPI account, regardless of the UPI application they use.
To send money to UPI-accepting cricket betting sites using a VPA, all you need is to enter the recipient’s virtual address and specify the amount you wish to transfer. A simple click of the “send” button will initiate the transfer, crediting your betting account swiftly. This method offers a convenient and hassle-free way to deposit funds for your cricket bets.
3. Transfering money using phone number
Transferring money via a phone number is a quick and convenient method, especially when sending funds to another UPI user who has linked their mobile number to their UPI ID. By entering the recipient’s registered phone number, you can easily transfer money to their designated UPI ID with just a few simple clicks, making it a hassle-free way to send funds.
4. Transfering money using QR codes
Making UPI deposits using QR codes is a straightforward process. Simply open your UPI application and scan the unique QR code provided by the bookmaker. Once scanned, you can easily transfer your desired amount of funds to the bookmaker or recipient hassle-free.
How To Withdraw From Betting Sites With UPI
Withdrawing funds from a UPI betting site is a straightforward process. Follow these steps to withdraw money from a bookmaker that accepts UPI:
- Log in to your UPI betting site account.
- Find the withdrawal option in the menu.
- Click the withdraw button, and you’ll see various payment methods.
- Choose UPI as your preferred withdrawal method.
- Enter the withdrawal amount you desire.
- Provide the 11-digit IFSC code to verify your authenticity.
- Complete the withdrawal process, and the requested amount will be credited to your account.
It’s a hassle-free way for online casino enthusiasts to access their winnings.
Pros & Cons of UPI Betting Apps & Sites in India
When it comes to UPI betting apps and sites in India, there are both advantages and disadvantages to consider. Whether you’re passionate about sports betting or casino gaming, it’s essential to weigh these factors. While we strongly recommend UPI payments for Indian punters, the final choice is yours. To assist you in making an informed decision, we’ve compiled a list of the pros and cons of using UPI betting sites in India.
ADVANTAGES OF BETTING SITES ACCEPTING UPI
Benefits of Using UPI on Betting Sites in India Choosing UPI as your payment method comes with several advantages:
- UPI operates under the regulations of the Reserve Bank of India, ensuring trustworthiness.
- UPI deposits are free of transaction fees, saving you money.
- You can conduct bank transfers in Indian rupees, simplifying transactions.
- Easily transfer funds directly from your bank account, enhancing convenience.
DISADVANTAGES OF BETTING SITES ACCEPTING UPI
Drawbacks of Betting Sites That Accept UPI While UPI has its advantages, there are some downsides to consider:
- Payments may not be instant, as betting sites require validation time.
- Players may need to complete additional steps, such as KYC, to make a UPI deposit.
UPI-allowed Indian Banks
Indian Banks Supporting UPI Payments Numerous banks in India facilitate UPI payments, aligning with the government’s push for digital transactions. Among the prominent local banking institutions compatible with this financial platform are:
- Bank of Baroda
- Axis Bank
- Canara Bank
- ICICI Bank
- Central Bank of India, and more.
Furthermore, each Indian bank holds a distinct UPI status within this ecosystem, spanning from Payment Service Providers (PSPs) to issuers, each with unique rights and functionalities.
Top UPI Apps for Betting in India
When it comes to selecting the right UPI apps for betting on the best UPI betting sites in India, you have a range of reliable options. Here are the top UPI apps:
- BHIM (Bharat Interface for Money): BHIM is a trusted UPI system launched by the National Payment Corporation of India. It enables sports betting enthusiasts to seamlessly transfer funds to and from UPI betting sites using their UPI ID.
- Google Pay: Google Pay, developed by tech giant Google, is a popular UPI deposit system. Users can create a unique UPI ID for secure money transfers, whether withdrawing winnings from UPI betting sites or depositing funds from Indian banks. Google Pay also offers enticing promotions and rewards.
- Paytm: Paytm is one of the most widely used UPI wallets, accepted by most betting sites in India. While it allows you to store money received through your UPI ID, you can also initiate UPI payments directly from your bank account.
- PhonePe: PhonePe is an innovative digital wallet that simplifies transactions using a UPI ID. Users can make lightning-fast money transfers with just a few clicks through their UPI ID. This convenience has led to PhonePe’s widespread acceptance among the best UPI betting sites.
These UPI apps provide a secure and convenient way for Indian sports betting enthusiasts to deposit and withdraw funds on their preferred betting platforms.
Options Besides UPI
Although UPI is our top recommendation for Indian punters, having alternative withdrawal methods can be advantageous. The best UPI betting sites offer several alternatives to UPI, including:
- Apple Pay
- Cryptocurrencies (Bitcoin, ETH, Doge, etc.)
- Paypal
- Skrill
- Neteller
- Debit/credit cards
- Direct bank transfers
- ecoPayz
- Paysafecard
These diverse options provide flexibility and cater to the varied preferences of cricket betting enthusiasts in India.
Conclusion
In the realm of online betting in India, UPI stands out as a swift, secure, and user-friendly method for both deposits and withdrawals. It eliminates the need to divulge sensitive bank information on betting platforms, ensuring the safety of your funds. Furthermore, UPI-friendly betting sites often feature low minimum deposit requirements, enticing welcome bonuses, generous betting limits, and competitive odds. Therefore, cricket betting enthusiasts in India are encouraged to make the most of the convenience and advantages presented by UPI-accepting betting sites.
UPI, or Unified Payment Interface, is a mobile payment system in India that enables instant and free money transfers between bank accounts. It's popular for betting transactions due to its speed, security, and convenience, making it a preferred choice for Indian punters.
Some of the top UPI apps for depositing money on betting sites include BHIM, Google Pay, Paytm, and PhonePe. These apps offer seamless UPI transactions, making them ideal for online betting.
Yes, there are alternatives to UPI for withdrawals on betting sites, including options like Apple Pay, cryptocurrencies, PayPal, Skrill, Neteller, debit/credit cards, direct bank transfers, ecoPayz, and Paysafecard.
Using UPI for betting transactions in India offers advantages such as no transaction fees, the ability to transfer money directly from your bank account, secure transactions, low minimum deposit amounts, lucrative welcome bonuses, high betting limits, and competitive odds.
To withdraw funds from a betting site using UPI, log into your betting account, locate the withdrawal option, select UPI as your preferred withdrawal method, enter the withdrawal amount, provide your UPI betting site with your 11-digit IFSC code, and complete the withdrawal process to receive the desired amount in your account.
