What are the options for depositing with rupees on Indian online betting sites?
Indian online betting sites accept many safe and secure payment methods. You can use bank and wire transfers, your Visa or Mastercard, or mobile payment services and e-wallets. Chief among these are Google Pay and Neteller and Skrill, although you can also resort to using payments such as UPI or IMPS.
The former is by far the most popular payment method for Indian punters. As mentioned earlier, it stands for Unified Payments Interface. Those three words describe it perfectly. UPI offers instant real-time payments online via your bank account.
It was established in 2016 and is also available in Bhutan, Malaysia, Singapore, and the UAE. The payment method was established by the National Payments Corporation of India. It facilitates P2P payments as well as P2M (person-to-merchant) transactions and is regulated by the Reserve Bank of India.
Unlike regular bank or wire transfers, UPI is instant. As of late 2020, over 200 banks are available on it. It is also accepted at all Indian online betting site in Indian Rupees. Punters love it because it offers fast deposits and withdrawals with no fees and no currency conversion fees. Since it’s an Indian payment method, you can use it to place bets without converting to USD or GBP.
It is used by thousands of Indian punters who love the fast deposit times and the fact that you can even earn bonuses with it. Of course, that depends on the betting site you choose, but you still get a chance to get a bonus with UPI.
The other most popular payment methods at online cricket betting sites with Indian Rupees are:
- IMPS: IMPS is similar to UPI and stands short for Immediate Payment Service. It provides fast and robust real-time money transfers via your bank account.
- Google Pay: one of the largest payment services in the world, Google Pay allows punters to make fast and secure deposits via their Android phones.
- Visa: Visa is a popular debit card payment method that’s accepted at the majority of online betting sites with Indian Rupees. The fact that you can deposit in Rupees with it and get bonuses too makes it a favorite for Indian punters.
- Mastercard: Mastercard is a similar payment option, but a credit card system that makes it different than Visa. It is available at the majority of bookies across Asia.
- PayTM: PayTM was created specifically for Indians. It’s a digital wallet that allows you to pay in Rupees at numerous merchants and online bookmakers too.
Why IMPS & UPI are the best Methods to deposit on Betting Sites with Indian Rupees?
India has been heavily invested in a cashless future in the past few years. UPI was born out of that idea. It was the first step toward a cashless economy, allowing Indians to pay via their mobile phones while using their bank accounts. In essence, it allows them to use their phone as a virtual credit or debit card.
Receiving and sending money via UPI is instant. That’s what makes it an excellent option to use at online betting sites in India Rupees. Of course, currency conversion fees are non-existent since the system uses Rupees. If you’re wondering why it’s better than e-wallets, UPI allows you to pay via a QR code, making e-wallets obsolete.
The initiative was launched in a joint collaboration between the Reserve Bank of India and the National Payments Corporation of India. The NPCI handles all RuPay payments in the Asian country similar to Visa/Mastercard. It allows banks to transfer funds between them and is also the ‘brain’ behind IMPS, another popular money transfer service.
With UPI, you don’t need to know the sender’s account number, type, or the bank name. All money transfers are possible via the unique Aadhaar number. It’s a mobile number registered with the bank also known as UPI ID. As long as you have it, you can send and receive money instantly.
When you make a transaction, the bank will send an OTP confirmation number to your phone to ensure the transfer is legit. Once you confirm it, the money will be sent right away. That makes it as secure as it can get, and a viable option to use at Indian online betting sites in Indian Rupees.
The most popular method to pay with Indian Rupees on betting sites
UPI was launched in 2016 by the National Payments Corporation of India (NPCI). It’s a real-time payments system that facilitates P2P and P2M transactions. It is regulated by the Reserve Bank of India and as such, a legit option for Indian punters.
By the end of 2020, UPI recorded transactions in excess of $55 billion (₹4,162 billion). Thanks to the simple user-interface and the ease of use, it has become one of the most common payment methods used at online betting sites in Indian Rupees. The platform has over 100 million users as of May 2021 and its current goal is to hit 500 million by 2025.
According to reports from the Economist Intelligence Report, thanks to UPI, India is a global leader in real-time payments. UPI has become the default payment system to use at Indian online merchants and bookies. It requires an active bank account and shares all the similarities of bank and wire transfers without the slow processing times.
The service is currently active with over 200 banks. Many of them have a mobile app that facilitates transactions. UPI touched a value of ₹7,71 trillion in October 2021, a nearly 60% jump from the month before. Higher numbers are expected by the end of 2021 and beyond, so this payment method will reign the online markets in India for a while.
How does the payment with rupees work on Indian betting sites?
To get a better idea of how UPI works in India, think of a simplified online payments service. It allows you to transfer money between bank account easily and with no fees.
By simply scanning a QR code, you can send money to an individual, a merchant or service. In order to use it, you’ll need a bank account or a mobile phone that will be linked to the app. You’ll also need the payee’s address, which means that you’re paying directly to an individual or a shop.
What makes UPI so simple to use is that you don’t need to enter your bank details all the time. Once the bank and service are linked, you can use the service freely with no interruptions. UPI is available around the clock and supports transactions up to INR 1 lakh in India.
That’s more than most punters need, making it a premier service among all the alternatives. To enjoy the cashless benefits and transfers, punters will have to register for a UPI account. They also need to link their bank account and phone number and create a virtual ID with the bank that will allow them to make effortless payments later.
Advantages of using UPI at Indian online betting sites
Why use UPI Betting Sites to pay with INR ? The answer is simple. It comes with all the benefits of bank and wire transfers but without the waiting time.
Once set up, it only requires your UPI ID for authorization. Waiting times are cut back to a minimum, so money transfers are completed instantaneously.
Besides the fast transactions, you can use UPI at any time of the day or night. Of course, you can transact in Indian Rupees, which means no currency conversion fees. It’s a safe, secure, simple, and reliable payment method that works best when used at online betting sites in Indian Rupees.
Deposit quickly and easily with Rupees – Top UPI features at Indian online bookies
If you already have a profile at the top Indian bookies, you should definitely choose UPI as your payment method. It’s safe, secure, and offers fast deposits and withdrawals along with no fees. When betting on sports online, all punters are looking for such a method. UPI definitely fits that profile, giving you a way to bet on cricket and other popular sports without a lot of hassle.
You won’t have to pay high fees for deposits or withdrawals, and thanks to the UPI app, transactions on the go are possible anytime and anywhere. As long as you’ve got a stable Internet connection, you can place bets with UPI with ease anywhere on Earth.
How to deposit and withdraw INR with UPI
- Access the Cashier or Payments page first
- Enter the amount you want to deposit or withdraw
- Choose the ID document type, then click Pay
- You’ll be redirected to the service provider’s page. Enter the OTP number sent to your mobile phone to confirm the transaction
- Enter the UPI ID on the next screen to finish
- Voila! You’re now ready to bet at your favorite Indian bookie
When withdrawing money, the process is the same, but in reverse. The top online betting sites in India Rupees have handy guides that will walk you through the process. Don’t hesitate to consult them or talk to the customer support team if this is your first time using UPI.
How secure is UPI to use at Indian bookies online?
In one word – very. As mentioned briefly earlier, UPI is as secure as a bank or wire transfer. The only thing that makes it different is the easier access and the lack of lengthy waiting times. Choose a reliable bookmaker and you’ll have a chance to make secure deposits and withdrawals thanks to SSL encryption.
Top-rated Indian online bookies are also properly licensed, so you shouldn’t have trouble making safe and secure payments.
How to open up a UPI Account
- Download a mobile payment application like PayTM and install it on your Android device or iPhone
- Create your profile by entering your phone number as well as username/password, and other details
- Go to Add/Link bank account and link your bank account with the virtual ID. You’ll also need to generate a UPI PIN that you should note somewhere safely
- Now that you’ve got everything set up, you can easily use UPI at online betting sites in India Rupees.
Are there are any UPI fees?
In late 2020, the NPCI has removed all PSP fees for domestic UPI transfers. With that being said, your bank may still charge some fees for deposits and withdrawals at Indian bookies. Those should be fairly small, so you shouldn’t be concerned about any big fees.
Alternatives UPI to Indian online betting sites that accepting Rupees (INR)
The top alternatives to UPI are services such as PayTM and IMPS. Google Pay, Neteller, and Skrill are also great options if you’re after fast transactions with no fees. All these options accept INR and are widely used at the best online betting sites in Indian Rupees.
Of course, they’re all easy to use as well, making them a fantastic alternative to UPI.
FAQ: Deposit on Online Betting Sites in Indian Rupees
Yes, it is. Punters say that it’s just as safe as making a bank or wire transfer, but without the slow processing times. Since the payment service is linked to your bank account, you don’t need to worry about the transfer security – it’s even safer than other payment options.
When using UPI, you will be making deposits and withdrawals via your bank account. The processing times are much faster than regular bank transfers and will be completed instantly. The alternatives you can use are IMPS, Google Pay, Visa, Mastercard and PayTM.
Yes, if you want faster transactions without delays, you should verify your UPI account. Visit Payout Dashboards and select UPI Verifications, then UPI. Enter the details required and you will verify your UPI account for good.
No, UPI has no fees when being used at online betting sites in Indian Rupees. From late 2020, the service payment provider has completely eliminated all fees for local UPI payments. Keep in mind that your bank might still charge small amounts on transactions. Alternatives to UPI may have fees when depositing Rupees on betting sites. You should check with the payment provider.
If your payment is declined, you should get in touch with the customer support of the payment provider you used.
Deposits made at UPI online bookies are instantly completed. Payment with alternative payment providers may cause delays. Bank transfers often take 1-2 days.
UPI withdrawals are slower than deposits but should be completed after approval.
Tips When Using UPI in combination with online betting sites and indian rupees
Here are some tips that will help you make effortless UPI payments at Indian online betting sites.
- Choose the best payment provider for your needs
When betting online, make sure to use a payment method that works for your wants and needs. It doesn’t have to be UPI, but this payment service is one of the best available.
- Be aware of fees
While UPI itself charges no fees on local transfers, your bank might. In general, the fees should be fairly low, but still, you need to be aware that they exist.
- Make sure your bookie of choice accepts your preferred payment method
When choosing a bookmaker online, make sure it accepts UPI or your preferred payment method. No need to choose another one – there are plenty of online betting sites with a diverse ‘cast’ of payments.
- Learn the transaction limits
Before you start betting, take note of the transaction limits – they are much more important than you think.
Summary: Online Betting Sites in Indian Rupees
UPI is an excellent option to use at online betting sites in Indian Rupees. It’s fast, easy to use, and accepted at a variety of bookies on the web. If you’re looking for a safe and secure option to use at the best Indian bookies, don’t look further than UPI.