If you find online betting to be a nice way to pass the time, you probably ask yourself which payment method you should choose when opening your betting account. It’s worth knowing right away that the UPI payment method is India’s most popular online payment system, facilitating millions upon millions of unique transactions every day.
In this article, we’ll outline all the need-to-know info and address any UPI-related concerns you might have. By the end, you’ll understand why UPI is among the most popular online payment methods in India.
UPI Betting Sites
You are probably wondering which bookmakers offer UPI payment methods for deposits and withdrawals. If this method of payment is what you are looking for when opening a betting account, we have made things easier for you then. You can find our selection of bookies where you can use UPI to deposit and withdraw your money:
What is UPI Payment Method and How Does It Work?
First thing first, what is UPI? That acronym stands for “Unified Payments Interface,” which might sound like a daunting, sci-fi concept on first reading. In reality, however, it’s really very simple. UPI allows its users to make all manner of transactions safely and securely. It was established in 2016 and, since that day, has gone from strength to strength.
As a digital transfer system, UPI acts as a mobile payment method. You can make payments on the go with confidence. For this reason, the system has become particularly popular among bettors in India. There is, of course, a fine UPI payment app you can use for your deposits and withdrawals.
All reputable gaming houses accept UPI as a mobile payment method and allow customers to use it as part of their online banking set-up. the players can read our article on How to register at Betway and pay with UPI and start betting.
One of UPI’s several selling points is how hassle-free it is compared to other online payment methods. The registration process, which we will outline in this article, is quick and easy. After signing up, you can make a deposit with just a few clicks.
In terms of how the system works on a technical level, customers simply connect their bank account to Unified Payment Interface. UPI India then acts as a go-between for two parties involved in a transaction.
How to Deposit With UPI Online Banking
UPI has become one of the most popular online payment methods in India because of its ease of use. Whether you’re using UPI to make a deposit in your betting account or for any other kind of online banking, the process is uniquely straightforward.
Below, we outline the sign-up and deposit process.
You can sign up and deposit via mobile or PC. First, you’ll need to either download the UPI payment app or access UPI India via your computer.
Then you’ll need to create a betting account. You’ll be asked to provide some basic details, such as your preferred language, mobile number, and name. You’ll also need to register your UPI virtual ID and password.
Once you’re in, the method of making deposits is painless:
- Click the “Cashier” link, followed by
- the “Make a Deposit” icon.
- Input your desired amount and there you go: deposit successfully made.
- In terms of a deposit limit, UPI currently caps its users at Rs 1 lakh per day.
Is UPI Payment Method Safe?
Yes, UPI as a payment method in India is completely safe. It is India’s most trusted digital payment method for a reason.
Worldwide, cybercrime is a real problem. Opportunistic criminals are always looking to take advantage of unsuspecting victims. Individuals are right to be wary when it comes to online banking, as there is no shortage of scammers and fraudsters lurking in cyberspace. It — quite literally — pays to be vigilant.
With UPI, however, you needn’t worry. When making purchases or transactions through third-party apps, none of your banking information is passed on. The system uses end-to-end encryption and 100% reliable verification methods to make absolutely sure that transactions are authentic.
UPI is regulated by several independent financial bodies, so your cash deposits are as secure as can be. In short, your money is safe with UPI.
Why Bettors Use UPI
While UPI is almost ubiquitous in terms of digital finance, it has become particularly popular among online bettors.
Why? Well, withdrawals are quick, easy, and — above all — safe when using the payment system. With most bookmakers, there is a slight delay when processing withdrawals — but this invariably comes from their end rather than from the online banking side of things.
UPI is as quick a solution as there is on the market. Another attractive aspect of UPI is the fact that it can be accessed via mobile. A huge proportion of betting is conducted online in the modern era. As such, it is convenient that UPI payment online enables on-the-go transactions with speed and security.
This is not an exhaustive list of UPI’s most appealing features, but we hope to have provided you with a pretty comprehensive overview.
UPI Beeting Sites FAQ
Most reputable betting sites in India accept UPI. Among the best sites that accept the payment mode are bet365, betway, 22bet, Casumo, Parimatch, fun88, and 1xbet.
The minimum deposit limit at betting sites that accept UPI is generally 500. However, the amount can vary from site to site, as UPI does not require any minimum deposit amount.
UPI betting sites accept UPI as a safe and secure mode of payment.
UPI is counted among India’s safest digital money transfer methods. Any payment made via UPI will have to be authorised through an authentication process involving two stages. The first is a 6-digit PIN and the second an OTP received on the user’s mobile number that he/she has registered with the bank. All payment information is stored on its secured servers by the National Payments Corporation of India.