Paytm Cricket Betting Guide
Paytm is one of the payment methods used by punters when depositing money in their sports betting accounts. If you are keen to know more about Paytm, you are in the right place. We will talk about Paytm, how to deposit at betting sites using Paytm, and why you should use it.
Written By Rajeesh Nair Editor & Betting Expert.
Fact-checked & Updated on 15th June 2022 by Ushan Arya Industry Researcher.
Published on 11th February 2022.
Best Online Betting Sites That Accept Paytm
Today, most sports betting sites accept digital payments such as e-Wallets like Skrill and Neteller. However, Paytm is also gaining popularity, especially for Indian punters. Some of the popular online betting sites that accept Paytm are the following:
Creating an account with Paytm
Creating an account with Paytm is easy. It only takes a few minutes and a few steps to have your account ready.
The following steps have to be followed when creating an account with Paytm:
- Download the app on your mobile device. Paytm app is compatible with both iOS and Android devices.
- After downloading the app, install it. In most cases, the installation process automatically follows after a successful download.
- Open the app, tap on the profile tab, and hit a new account button.
- You will be asked to provide your email id and mobile number.
- Set a unique password for your account.
- Click the “create a new account” button, and a One-Time-Password (OTP) will be sent to your registered number. Make sure you provide the right OTP. After which, you will be asked to key in your complete name and date of birth.
- Tap again on the create account button, and your Paytm account is set up.
Depositing money at betting sites through Paytm
Paytm has never been convenient and easy to fund your online gambling and betting account. Many online gambling platforms today accept payment made via Paytm. If you are to compare Paytm with other online payment methods, you will notice that it comes with so many perks.
Should you wish to find out more about Paytm and contemplate on whether to fund your account using Paytm or not, the more you need to read this article up to the very end. We will tackle in detail what Paytm is all about and how you can use it when funding your online betting account.
Paytm payment via UPI on sports betting sites
Some sports betting sites do not allow direct deposits using Paytm, but it does not mean you can’t do it. You can use Paytm via UPI or Unified Payment Interface.
If you are going to use UPI as payment for a sport betting site in India, here’s our helpful guide:
- Ease of use – Paytm is one of the easiest methods of funding your online sports betting account. The fund transfer is instant. However, before making a deposit, you have to make sure your Paytm account is loaded with sufficient funds. That way, you will not have any issues transferring funds from your Paytm account to your online betting account.
- Free to use – When it comes to using Paytm, you will not have any problem, for it is free to use. You will not be charged for depositing funds into the betting account. However, some do charge some fees, and we highly discourage you from using such a payment method.
- Safe and secure – Your banking details are kept secret, so your personal and financial information is safe and secure. It is one of the top priorities, for it is a known fact that phishing is common, and there have been so many victims of such fraudulent activities. If you are looking for a safe and secure online payment method, Paytm is without a doubt one of them.
- High fund transfer limits – The majority of online fund transfer methods impose a fund limit for every transaction, although it also varies depending on the sports betting site. Paytm ensures you will be able to cover your needs sufficiently. When using Paytm, you have to make sure the sports betting site allows withdrawal through Paytm as most of these sites will ask you to use the same fund transfer method for deposit and withdrawal transactions. Some sports betting sites that allow withdrawal transactions via Paytm include 22Bet and BetWinner.
Funding your sports betting account using Paytm
Depositing money through Paytm is easy. However, you have to make sure that the sports betting site accepts Paytm payment, or else you will have a problem funding your account. Once you are certain that the sports betting site accepts Paytm, you can proceed with the actual fund transfer method. The steps to follow are the following:
- Log in to your sports betting account.
- Head over to the cashier section and click “deposit.”
- You will see available options for the deposit method. Click Paytm as your deposit method of choice and specify the amount you want to deposit.
- You will be directed to a separate page (Paytm’s portal), and you need to enter all required information. Double-check everything before confirming the payment.
- Make sure you take a screenshot of your transaction, as you will be asked to upload a proof of payment to the website. It can also be used for transaction id.
- Once you are done confirming the transaction, the amount will immediately reflect in your account; although sometimes it would take around 45 minutes to an hour, it rarely happens.
Is Paytm a safe payment method, especially when transferring funds to an online gaming site?
Paytm is one of the safest online payment platforms today. It uses the latest online security features to ensure that every transaction that takes place is safe from the prying eyes of phishers and scammers. It uses 128-bit SSL encryption technology. It also complies with PCI DSS, which means that it safely handles card transactions (credit and debit card) to prevent any fraudulent activities. More so, it is regulated by the RBI, which means that it regularly undergoes audits to ensure financial stability.
If you are fond of betting online, you will surely find Paytm a useful payment method. It has high regard for clients’ safety and security by not exposing your personal and financial details. To use Paytm, you have to load your wallet with a sufficient amount, and you can immediately transfer funds. You will not be asked to share your banking details. Every transaction comes with a reference ticket so you can easily track down your transaction and ask for a refund. If there’s an issue with your transaction, you can easily contact the customer support team.
Paytm Know-Your-Client (KYC)
Once your account is all set up, you can now transfer funds through UPI transfer. To supply funds in your Paytm account, you can use your credit card or debit card. On the other hand, if you want to hold money in your Paytm wallet, you will need to undergo a KYC procedure. You will need to provide proof of identities such as your ID like the voter’s ID number, passport number, or driver’s license number.
You need to complete the KYC procedure, so you can hold up to Rs. 10,000 in your Paytm wallet. You can then use the amount to pay to an online sports betting site or your online transaction of choice. Basically, the KYC process will help unlock the full potential of your Paytm account. Aside from allowing you to hold up to Rs 1,00,000 in your account, you will not be bound to transaction limits. Hence, it is of utmost importance to undergo the KYC process.
Loading your Paytm account
Loading funds to your Paytm account is easy. Using your credit card or debit card or through UPI or Unified Payment Interface, you can do it.
- Log in to your Paytm account and click the “add money” icon.
- You will be asked to add money and how you wish to add funds.
- Choose your preferred method and enter the amount you want to deposit.
- Click the “add money,” and you will be directed to the payment gateway of your chosen deposit method.
- You will be asked to key in all important details such as the CVV when using a credit card or UPI ID when transferring funds through Unified Payment Interface. Confirm the transaction.
Associated Fees
One of the concerns of people using online payment methods is the associated fees for every transaction. With Paytm, the fund transfer is free except for credit cards. If you use credit cards to load money to your Paytm account, you will be charged up to 2.5% of the total deposited amount. Please note that Paytm charges such a transaction fee, not the credit card issuer itself. More so, Paytm does not charge transactions made for transferring funds from one Paytm wallet to another. Another important thing to note is that if you intend to transfer funds from your Paytm wallet to your bank account, there will be a corresponding fee, which is 5% of the total amount.
Final Thoughts…
PayTM is, without a doubt, one of the best payment options for Indian punters participating in online sports betting sites. It is the largest and leading payment gateway in India. It provides financial services to hundreds of millions of Indians. The majority of sports betting sites that accept Indian punters support PayTM.
Although PayTM is a safe, secure, and reliable payment method, you still need to be wary when making payment on an online betting site. Make sure you transact only with highly reputable and credible online betting sites. Make it a habit to review the sports betting site and read reviews to assess the trustworthiness of the sports betting site.
