What Is Paytm?
Paytm serves as an all-in-one app for bettors in India. Luckily, the app is available for download for both Android and iOS users residing in India.
Considered as one of the leading payment apps in India, Paytm is currently used by a lot more than 300 million Indians. It is an app that works like digital cash. You can use it to send money wherever you want to, that too with zero charges.
How Does It Work?
If you are wondering how the Paytm betting apps works, here’s how:
In simple words, Paytm is a digital wallet that allows you to make real time transactions. Here, instead of actually using your wallet to make transactions, you use the Paytm betting apps on your phone. You may also access the app through a desktop application or website to make successful transactions in India.
That being said, a digital wallet is most beneficial when you are using a mobile phone to access it. This is because a phone is available to you 24/7 whereas any other device is not as readily accessible.
This e-wallet allows you to make transactions as soon as you register for a verified account. Once the registration process is complete, you can link more than one bank account or a debit card to the Paytm betting apps. Use the debit card or the bank account to transfer money to your e-wallet and get started! Make payments cashless with a few taps of your fingers!
History of Paytm
Vijay Shekhar Sharma the founder of Paytm launched the e-wallet app in the year 2010. One97 Communications Limited, the parent company of Paytm and a number of influential investors has been backing the company ever since its beginning.
Some of these investors include Berkshire Hathaway, Softbank, SAIF Partners, Ant Financial, AGH Holdings, Discover Capital and T Rowe Price.
Paytm’s e-wallet and digital bank, are both owned by Vijay Shekhar Sharma. Both of these platforms are now serving millions of Indians every day, making banking a lot more flexible and convenient for people living all over India. Initially, people could only carry out a couple of functions through Paytm. Some of these functions included recharging your mobile phone, paying for shopping bills or making DTH recharge.
However, the Paytm betting apps have been upgraded over the years to carry out every little monetary transaction like paying for bills, booking flights, making reservations at a hotel, etc.
Did you know that every second, Paytm can complete approximately 5000 transactions successfully?
Payment Provider in the Country
Paytm services are used for various purposes in India. Paytm betting apps can be used for recharging and paying bills – mobile recharge, landline bill payment, toll recharge mobile bill payment, broadband bill payment, credit bill payment, Datacard recharge, gas bill payment, cable TV recharge, Datacard bill payment, water bill payment, devotion, DTH recharge, metro card recharge, rental bill payment, electricity bill payment, municipal recharge and fastag Recharge.
People can also make use of the Paytm betting apps to make transactions for paying loans EMI, Insurance premiums and free education.
In case of travelling and entertainment, one can use the payment option to purchase flight tickets, movie tickets, events etc.
Advantages of Using Paytm
Every payment method has its own set of advantages. Today, we shall take a look at Paytm’s advantages for punters in India:
The Paytm app is free for all. All you have to do is install the app on your phone, register, add money and start paying. Users of both Android and iOS devices can use Paytm’s app for making transactions.
However, you do need a smartphone if you want to use the app. Without it, you really can’t do much. Even though you can use desktop applications to run the app, we should warn you that the flexibility and ease of using the app will not be like using it from a mobile phone. But once you have managed a device of your own to use the app, you will notice that the app is built for everyone. Not to mention, you will find the app available for every purchase or deal you make online.
For example, if you have to pay this month’s electricity bill or the school fees of your children, you can just use the Paytm app on your phone to carry out the transactions in real time. This availability of the app is a huge advantage for people who want to promote cashless payments.
- You Only Need a Mobile
There isn’t much that you will require in order to avail Paytm’s services. You don’t even need to get a hold of a laptop or a desktop to make the transactions. A simple smartphone will be able to take over all the features that you may want to make use of from Paytm’s app.
Moreover, you just need to tap on your phone screen a couple of times to send the money instantly. You do not even need to input the bank account details of the recipient.
- Cashless Payment
It is a real struggle when you have to deal in money for every transaction you make in a single day. Moreover, cash isn’t always readily available to us. Sometimes you may run out of it and head to the ATM booth or the nearest bank in your area to cash out from your savings.
Therefore, if you do not like the struggles associated with dealing in cash, we suggest that you start using your e-wallet to make payments from now on. What’s more is that transferring digital money is a lot faster than having to send money in person.
- Great User Interface
A lot of people have difficulty adjusting to a website, especially when it’s new to them. However, Paytm has a great user interface, meaning that navigation comes easy for users who use the app for making daily transactions.
- All Kinds of Transactions Possible
A lot of mobile payment options do not allow this rule. However, this feature makes payment options at Paytm very flexible for its customers to make use of. With a Paytm registration, you can send money to a bank, a third recipient whom you don’t know, make merchant payments and pay for anything that you may have purchased online. Not to mention, you can also pay bills and rent through the app.
Paytm’s services have been approved by the Reserve Bank of India, making it one of the most top-notch payment services to have ever existed in India. The app is also protected by VeriSign certified SSL. This means that all the data you have provided to the iGaming site or any other site will be stored safely.
Moreover, you will also be protected from scammers who often take advantage of people through unreliable payment modes. Since Paytm is a reliable and secure payment system, you do not have to worry about fraud and scams.
Paytm in Betting
Punters who gamble regularly know how important it is for a sportsbook to be affiliated with trusted third party payment providers. This is because betting online involves dealing with large amounts of money.
Whenever you have to place a bet, you have to wager the odds for which you need money. If the payment system affiliated with the sportsbook is not trustworthy, there is a high risk of you losing the money due to being scammed. This is why it is essential that you only use betting sites that accept Paytm. If you sign up for a betting sites that accepts Paytm, we can guarantee that you will never fall victim to any such fraud or scams that people often complain of.
Another perk of Paytm betting sites is that you can deposit or request for withdrawal whenever you wish to through Paytm. You do not have to worry about bank holidays or the fact that you want to gamble in the middle of the night. Just use betting sites that accept Paytm and send or receive funds however and whenever you want to.
This is why it is crucial to join betting sites that accept Paytm, especially for experienced punters who are sure to earn huge profits in one go.
How to Deposit & Withdraw
Depositing and withdrawing money from Paytm is fairly easy for punters, including newcomers.
You can only deposit to your preferred betting site once you have registered on their official website. However, before signing up, you must ensure that the sportsbook has a valid license.
For making a successful deposit on Paytm betting sites, punters will have to first locate the banking option from the features displayed on the home page. Once you have selected the banking feature, you will be able to see a bunch of payment options that are being offered by the Paytm betting sites. From there, Indian punters will select Paytm as their preferred mode of payment.
After selecting Paytm, bettors can then select the deposit option. This will land you on a fresh page with details that you have to fill in for the deposit. First, you have to type in the amount that you want to deposit on the Paytm betting sites. Then, you will have to verify and complete the transaction from the Paytm app on your phone.
The deposit is complete almost instantaneously, after which you are free to place your bets and collect your wins through Paytm cricket betting.
The minimum deposit amount is ₹ 500 for cricket betting sites with Paytm. The maximum deposit on the other hand is ₹ 10,000 for Paytm cricket betting.
Although the process of making the deposit through Paytm betting sites is easy, the withdrawals, however, are slightly more difficult.
This is due to the certain conditions that a punter has to meet in order to request a withdrawal from the Paytm cricket betting sites.
First of all, you will need to locate the withdrawal option on your home page of the Paytm betting sites. This will land you on a page where sports bettors will be required to put in the amount they want to withdraw along with the payment mode they want to use for the withdrawal. However, you must ensure that the amount entered doesn’t exceed the withdrawal limit as mentioned in the terms and conditions of the sportsbook.
Furthermore, there are additional steps where some iGaming platforms may ask you for relevant documents in order to verify that it is actually you who is making the request for the withdrawal. These documents might include your passport, driver’s license, bill etc. Some might even ask you for tax as per the policies for big wins.
How Secure Is It To Use Paytm In Betting?
As mentioned above, Paytm cricket betting apps is one that has been certified under the Reserve Bank of India, RBI. So, if you are a user of Paytm, you have nothing to worry about because your money is safe in the Escrow account in a nationalized bank.
In addition, Paytm is protected with a VeriSign – certified SSL 128-bit encryption technology. This means that all information that has been entered by Indian bettors will be kept safely. In essence, you do not have to worry about malicious third parties trying to access your personal details.
Therefore, we would say that Paytm is definitely a secure and well-protected payment system in place for bettors in India. Hence, if you are looking for reliable betting sites, we would suggest you make a list of which betting sites accept Paytm.
How to Open an Account?
If you know which betting sites accept Paytm, it is now time for you to select one of those iGaming sites and create a Paytm account.
Follow the steps listed below to open a Paytm account:
- At first, sports bettors will have to head to the app store to download the Paytm app.
- The next step is to locate the profile icon, which you will find at the right corner of your homepage.
- Up next, you will have to make a new account.
- As for the next steps, create a unique password, enter your email address and your mobile number.
- Once you are done, tap on the icon which shows ‘create a new account.’
- Then you will be required to enter the OTP that will be sent to your mobile number.
- Select ‘submit’ and fill in the rest of the details which will include the First Name, Last Name and DOB.
- For the last and final step, you will have to press a final tap on the ‘create account’ and voila! You’re all set to transfer funds through betting sites that accept Paytm.
We would have attached pictures, but the process is going to be different for different regions.
Paytm Betting Sites – Fees
One great perk of Paytm cricket betting apps is that it doesn’t charge you fees for your daily transactions. If you are familiar with which betting sites accept Paytm, then you know how Paytm cricket betting apps do not charge fees for depositing money to a betting account.
However, the only time you might incur an additional charge while using Paytm cricket betting apps is when you transfer money from your e-wallet to your bank account. In these cases, Paytm cricket betting apps will charge you a 4% extra fee for withdrawing money from Paytm to a bank account.
Alternatives to the Payment Method
If you are confused and are unable to figure out which betting sites accept Paytm, then we suggest that you try out Google Pay. It is one of the most efficient and fast payment modes available for bettors in India. However, you can only opt for this if you are positive that you want an alternative for Paytm.
Frequently Asked Questions
You can, without any hesitation, sign up for cricket betting sites with Paytm because they are SSL encrypted and certified by the Reserve Bank of India.
Paytm is flexible with all sorts of deposit and withdrawal methods. So you do not have to worry while opting for cricket betting sites with Paytm.
In terms of withdrawals at cricket betting sites with Paytm, punters will have to show some sort of document to show that they are the ones who have requested the withdrawal. However, most sportsbooks do not offer any benefits for verification.
But this doesn’t mean that you should give up. You can still try looking into top-notch sportsbooks that shower their customers with frequent bonuses and promotions for something as little as the verification of your account
If you use cricket betting sites with Paytm, you can rest assured that you will not be charged with additional costs, apart from the 4% charge from your bank account. All other transactions at Paytm are absolutely free of cost.
Although the chances of this happening are extremely low, you can get in touch with Paytm’s customer support to help you out. They have a fabulous team who are available through live chat, email and phone number.
Deposits are transferred instantaneously at betting sites using Paytm.
However, the withdrawal process is slightly slower than the deposit method. This is because even if the sportsbook accepts your withdrawal request, it still takes time for the sportsbook to process it. However, you will receive the withdrawal amount within 2 days after your request has been verified and confirmed.
- Take Your Time When Selecting the Best Payment Provider For You
Since a lot of your personal details are generally shared on online betting sites, it is imperative to opt for iGaming platforms that offer reliable payment modes.
- Be Aware of Any Fees Which May Occur
Before signing up for any website, do not forget to take a quick glance at the terms and conditions to see if there are any additional fees that you may be charged with.
- Make Sure That Your Favourite Betting Site Accepts Your Preferred Payment Method
If you have a preference in mind, for example, in case you want to join a website that has to have Paytm as one of their payment options, then you have to be extra careful. Head to the payment methods to see the list of payment methods offered by the website.
- Know the Transaction Limits of Your Preferred Payment Method
You will find the transaction limits in the terms and conditions of the betting site that you have signed up for.
Summary - Paytm betting Sites
To conclude, for punters who want to have an overall secured and smooth experience while gambling online, you must consider the payment system while signing up. This will allow you to enjoy your gambling experience without having to be bothered by any hindrances related to payment along the way.