PayTM Betting Sites In India
While leading sports betting sites in the world use international payment methods like Skrill, Neteller, and PayPal, most Indian betting sites accept PayTM for deposits and withdrawals. Launched in 2010, PayTM is the most popular peer-to-peer payment method with over 300 million users in the country. This popular e-wallet promises secure, fast, and convenient transactions free of charge.
In this article, we’ll look at how the PayTM app works, the best PayTM betting sites, how to create a PayTM account, and everything you need to get started in the Indian betting market. Our guide also gives you information on the best PayTM alternative payment options accepted by leading Indian betting sites.
What is the PayTM app?
The PayTM app is a secure, RBI-approved mobile wallet designed to meet all your financial needs. With the PayTM wallet, you can easily deposit money to your betting account or shop online through UPI, internet banking, and debit/credit cards. Additionally, you can transfer the money in your PayTM wallet to your local bank account or another wallet without any extra charges.
Over the years, PayTM has grown to become the largest online payment platform in India, allowing users to transfer money from anywhere at zero cost. You can use the wallet to pay bills, buy products, or deposit cash in your sports betting accounts. Here’s everything you need to know about PayTM:
- PayTM is a secure e-wallet approved by the Reserve Bank of India (RBI).
- The money stored in your PayTM account is ready-to-use cash accessible at anytime and from anywhere.
- You can deposit money to your PayTM account using a debit card, credit card, net banking, or UPI.
- You can deposit up to 10,000 INR monthly after completing the minimum KYC procedure. The minimum KYC requires the user to submit their passport, voter ID, NREGA card, or driving license.
- After completing the full KYC verification procedure through a video KYC or by visiting a KYC center, you can send up to 1 lakh Indian rupees every month.
More about the Company
PayTM is a reputable financial service provider owned by leading mobile internet company One97 Communications. The company launched PayTM in 2010, with its headquarters based in Uttar Pradesh, India.
Over the last decade, PayTM has become a trustworthy payment system that offers merchants a way to receive money for different services. The company is currently among the most popular payment service providers in India, with over 58 million accounts.
PayTM also boasts over 7 million merchants, making it great for making multiple payments. Additionally, the company operates a brokerage and insurance firm alongside a gaming platform for online games enthusiasts.
How to make a PayTM account
The PayTM wallet was designed to give users a simple and convenient way of sending money. You only need to register an account free of charge and you can use the wallet to send money to betting, shop online or send money to friends. The PayTM mobile app also lets you stay logged in on your mobile phone by securing your account with a pin, password, and fingerprints.
Below are some simple steps to follow to create a PayTM account and enjoy the benefits of having a PayTM wallet free of charge through the web or app.
Creating a PayTM account on the web
- Go to PayTM.com.
- Find and click the “Sign Up” button in the top-right corner.
- Provide your phone number, email, and set a password.
- Select “Create your PayTM Wallet.”
- Input the OTP received on your phone, and add your first and last name.
- Submit these details, and you’re ready to go with your new PayTM account!
Creating a PayTM wallet account via the app
- Download and launch the PayTM app on your smartphone
- Click on the profile icon in the top right corner.
- Select the “Create a new account” option
- Enter your phone number, email, and password
- Type the OTP you’ll receive on your phone number
- Submit the OTP and type in your first and last names and date of birth.
- Click on Create Account
- Your account is ready for use
Remember – KYC is important!
KYC verification is crucial for you to safely use PayTM to deposit money in online betting sites. Unless you have a verified PayTM account, you can’t deposit or withdraw money on PayTM cricket betting sites. Fortunately, PayTM’s know-your-customer procedure is simple, convenient, and hassle-free.
You can complete the PayTM app KYC procedure in two ways:
Aadhaar Number
To complete your minimum KYC verification procedure, open your PayTM mobile application and click your profile picture. From there, scroll down to your profile settings and check your wallet status. The status will be shown as ” Inactive” and you’ll have the chance to activate it using your Aaadhaar number. You’ll receive an OTP on the number registered to that Aandhaar card. Once you type in the OTP correctly, your PayTM digital account should be verified.
Manual Verification
Alternatively, you can choose PayTM manual verification, which fully activates your account and allows you to deposit up to 1 Lakh Indian rupees every month. Here are a few ways to complete the manual full KYC verification:
Option 1: Video KYC verification
Video KYC verification is the fastest and easiest way to activate your PayTM online account. You’ll just need to provide the details of your Aandhar card to start the video KYC and you’ll receive an OTP for confirmation. Remember that your phone number must be linked with your Aadhar number for verification.
Once your Aandar card is verified, your PayTM account will require more details like your parents’ names, correspondence and permanent addresses, marital status, and professional. When the video verification starts, the PayTM executive might also you to provide more details like current residence and D.O.B.
To complete the video verification, you’ll also need to record a clip holding your PAN card in front of the camera. The front side of the PAN card must be facing the camera when you’re recording. Once that’s done, PayTM will confirm your account and update your status.
Option 2: Visit a local KYC verification center
If you face any difficulties completing the Video KYC verification online, you can pay a visit to the local KYC center with your Aadhar card to get verified. Fortunately, PayTM has a list of local KYC centers in different locations across India.
Option 3: KYC verification at your door
Besides visiting the nearby KYC center, you can get verification services in the comfort of your home. You’ll only need to request a KYC verification executive will visit your home. However, this service comes at a cost of 150 Indian rupees and it is also available only in select cities.
Betting with PayTM? Here’s how to make a deposit
PayTM is a convenient peer-to-peer payment method that can be used as an e-wallet for storing funds or as a UPI for making payments to online betting sites and other online vendors. There are no fees charged when making a withdrawal or deposit on betting sites that accept PayTM payments.
In the gambling market, using PayTM to fund your betting account is like using this payment method to buy anything else like groceries, supplies, or pay for transportation. That makes betting on sites that accept PayTM as a payment provider extremely easy and convenient. Here’s how you can use your PayTM wallet to deposit money into your online betting account.
Create an account at the site
The first step to start enjoying sports betting and casino games is to set up a betting account on a trustworthy PayTM betting site. Of course, there’s a lot that goes into choosing a reliable PayTM betting site, but this guide has detailed the best PayTM betting sites for Indian players.
Once you find a good PayTM betting site that you’d like to use, head to the sign-up page and create your account. Fortunately, the best PayTM betting sites in India feature a simple sign-up process that you can complete within a few minutes.
Go to the deposits page
Once your betting account is approved by your PayTM sportsbook of choice, you can log into your account, make your first deposit and claim the welcome bonuses. For that, you’ll need to check the site’s deposits page where you’ll see a list of the available payment methods.
Select Net Banking/UPI
While PayTM deposits are convenient, the best betting sites in India accept different deposit methods, ranging from e-wallets to direct bank transfers. That’s why you must choose PayTM or UPI (net banking) as your preferred deposit option to make payments using this method.
Enter the PayTM wallet details
After choosing PayTM as your banking method, most online gambling sites will require you to provide your wallet details. These details can be used to verify your account and your PayTM betting site also needs them for withdrawals. However, deposits require you to copy the PayTM account details of the online casino site that you choose.
Enter your UPI ID in the desired field with the amount
Once you’ve copied the PayTM account details (UPI ID), log in to your PayTM app and enter the ID in the relevant field, and type in the amount. Don’t forget that PayTM betting websites have minimum deposit requirements that you need to meet to redeem the available welcome bonuses.
Place your bets
After making your first PayTM deposit, the funds should reflect on your online betting account within 1 hour and you’re ready to place bets. If your deposit takes too long to reflect on your PayTM betting app, please consider contacting the support team.
Cashing Out with PayTM
Withdrawing your winnings from PayTM betting sites is a breeze, allowing you to access your earnings swiftly after triumphs in online casino games. PayTM is renowned for being one of the quickest withdrawal methods on top Indian betting platforms. However, the time it takes can vary depending on the verification processes of your chosen PayTM gambling site.
Many PayTM betting sites implementing manual withdrawal verification will ask you to submit identity and residence proof. This could mean providing a copy of your Aadhar card or passport, along with a utility bill, to establish you as the rightful account holder.
It’s also crucial to be aware of the minimum withdrawal limits set by betting sites using PayTM. While transferring money between PayTM accounts is free, some sites might impose a fee for withdrawals. Nonetheless, the leading PayTM betting sites in India usually don’t charge for withdrawals.
Here’s how you can withdraw your winnings using PayTM:
- Log into your chosen PayTM betting site.
- Navigate to the cashier section.
- Select PayTM as your withdrawal method.
- The details of the PayTM account you used for depositing will be shown.
- Verify your PayTM wallet details.
- Enter the withdrawal amount.
- Confirm the transaction.
Withdrawals from PayTM betting sites typically take between 1 to 3 days to process.
Discover PayTM-Friendly Betting Sites
Here’s a list of betting sites that welcome PayTM as a payment method, offering you a range of options for your online betting adventures.
Advantages and Disadvantages of PayTM Betting Sites
Advantages of PayTM Betting Sites
- Zero Transaction Fees: PayTM doesn’t impose any fees for transferring money to online casinos or other PayTM wallets. While some PayTM betting sites might charge for withdrawals, we generally don’t recommend those.
- Attractive Welcome Bonuses: Many sports betting sites that accept PayTM offer enticing welcome bonuses, thanks to the platform’s no-fee policy. These bonuses are often used to draw Indian bettors away from international e-wallets like Neteller or Skrill.
- Secure Personal Information: PayTM ensures a high level of security for your funds and personal information, adhering to guidelines set by the Reserve Bank of India. PayTM’s deposit and withdrawal process keeps your financial details private, safeguarding them from third-party access.
- Speed and Convenience: The rise of PayTM betting apps in India can be attributed to their user-friendly nature. Available on both iOS and Android, the PayTM app is efficient and doesn’t take up much storage space.
- UPI Integration: With its integrated UPI system, PayTM offers flexibility in choosing the most suitable deposit method in terms of speed and transaction limits.
- Supports INR Transactions: As an RBI-regulated Indian app, PayTM allows transactions in Indian Rupees, making it easy to transfer funds from local bank accounts to PayTM betting sites.
- Multilingual Support: Top PayTM betting sites offer support in over 11 Indian languages, ensuring assistance is readily available if you encounter any issues with deposits or withdrawals.
Disadvantages of PayTM Betting Sites
- While PayTM betting sites come with several benefits, there are a few drawbacks to consider. Some sites might have limitations in terms of betting options or might not offer certain features available on international platforms. Additionally, while PayTM transactions are generally secure, as with any online transaction, there’s always a slight risk of cyber threats.
Challenges of Using PayTM for Betting Sites
- Account Set-Up Time: Setting up a PayTM account for betting can be time-consuming due to necessary security checks like KYC verification. This process ensures safety but may delay your start in online betting.
- Linking Fees with Other Platforms: While top betting sites with PayTM offer low deposit limits and free deposits, linking your PayTM with other payment platforms like Neteller or Skrill can be expensive, incurring fees up to 20%.
- Additional Withdrawal Fees: Several Indian betting sites that accept PayTM might levy extra fees for withdrawals. Also, transferring funds from PayTM to local bank accounts can attract a significant fee, sometimes around 4%.
- Risk of Fund Loss: There’s a potential risk of losing your funds if you lose your mobile phone, as PayTM relies on mobile numbers for KYC verification. This necessitates careful handling of your mobile device.
- Deposit Fees from Cards: While the top PayTM betting sites don’t charge for deposits, transferring money from debit or credit cards to PayTM can attract a 2% fee. This can be a drawback for players preferring to use their cards for depositing funds on PayTM betting platforms.
Key Points to Consider When Using PayTM on Betting Sites
Before diving into the world of online betting with PayTM, it’s crucial to exercise due diligence. While the PayTM betting sites we’ve mentioned are generally secure, here are some factors to ponder before making your deposit:
- Research the Site’s Reputation: Take time to read reviews about the PayTM betting site you’re considering. This will help you gauge the brand’s reputation and determine if it’s reliable.
- Explore Betting Options: Opt for PayTM betting apps that offer a diverse range of betting markets and competitive odds. Whether you’re into football or cricket betting, compare odds across different sites. Ensure the app covers all your preferred sports and betting markets.
- Ensure Security and Safety: Prioritize your safety by verifying the legitimacy of the betting platform. Legit PayTM betting sites in India should have a license from a recognized gambling authority.
- Quality of Service Provision: High-standard betting sites with PayTM provide excellent support services, including telephone, live chat, and email. This is crucial for resolving any issues related to your account, deposits, or withdrawals.
- Understand Payment Limits: Familiarize yourself with the site’s payment limits. Check the minimum and maximum deposit limits via PayTM, especially if you’re looking to claim deposit bonuses. Don’t overlook the withdrawal limits and any potential extra fees.
- Mobile Compatibility: If you prefer betting on the go, ensure the PayTM betting site has a compatible mobile app. This is especially beneficial for live casino players and those who enjoy live betting. Verify if you can easily fund your account using your PayTM mobile number.
By considering these aspects, you can enhance your online betting experience, ensuring it’s not only enjoyable but also secure and convenient.
Other Deposit and Withdrawal Options Beyond PayTM
If you come across betting sites in India that don’t support PayTM, don’t worry. There are several alternatives to use if you want to utilize your PayTM funds but the bookmaker doesn’t offer this method. Here are some viable options:
- From PayTM to Skrill: Skrill, a widely recognized e-wallet globally, operates under the Paysafe Group and is known for its quick payment processing. You can link your PayTM wallet with Skrill for easy deposits on betting sites. However, note that deposits via Skrill might not qualify for deposit bonuses.
- From PayTM to Neteller: Neteller, a seasoned player in the digital wallet space since 1999 and now part of the Paysafe Group, is another great option. Boasting over 50 million users, Neteller is known for its robust security. Linking it with PayTM for casino deposits is a breeze, but similar to Skrill, using Neteller may disqualify you from claiming deposit bonuses on some Indian betting sites.
- From PayTM to UPI: For a more localized approach, UPI stands as a relatively new but rapidly growing payment system in the online betting landscape. Established by the National Payments Corporation in 2016, UPI enables swift transactions in Indian Rupees. It allows you to transfer funds from your local bank account to betting sites that accept PayTM, offering a seamless deposit experience.
Conclusion
Over the past ten years, PayTM betting sites have become increasingly popular in India, and rightly so. As a premier digital e-wallet, PayTM stands at the forefront of online payment solutions, offering casino enthusiasts a swift and cost-effective way to top up their accounts. The app supports transactions in Indian Rupees and provides customer support in more than 13 Indian languages, enhancing user convenience. Yet, its restricted availability and monthly usage caps could be a setback for high-stake bettors.
