What Is UPI?
Unified Payment Interface refers to a popular mobile payment system that allows users to move money in between bank accounts instantly and for free. This popular payment infrastructure was launched in 2016 by India’s National Payments Corporation with the aim of making online transactions faster and safer for people in the country.
Since its inception, UPI has become a favorite among Indian sports betting and online gambling enthusiasts. Its popularity in India has grown at a tremendous rate, recording over 150 million users by the end of 2019. Today, UPI payments are used when buying goods at shops, supermarkets, and from online merchants like betting sites.
How To Use UPI in India
To start using the UPI payment method to transfer funds from one bank to the other, you’ll need to have a UPI ID. The ID works as a unique identifier for a bank account that’s used for sending and receiving funds from one bank account to the other.
With a UPI account, you won’t need to enter the recipient’s ID. You simply choose the recipient’s contact from the phone book and choose to send the money via UPI. However, you’ll need to put in your UPI Pin (a 4 or 6-digit pin) to transfer the money to the recipient’s account through UPI. Fortunately, every UPI user can set his /her PIN as per convenience.
How Does UPI Work?
Today, almost every Indian bank account holder is talking about transferring their funds through UPI. The system facilitates the transfer of money between bank accounts through a mobile phone. Even better, every UPI transaction goes through a safe and secure network, eliminating the need of visiting banks to transact or use fiat currency.
UPI uses existing systems like Aandhaar Enabled Payment system and Intermediate Payment service to ensure seamless settlement across bank accounts. These systems facilitate pay-and-receive transactions and also work with barcode payments. It also works well for recurring expenses like school fees, utility bills, and other subscriptions.
To send or receive money using the UPI method, you’ll need to have:
- A smartphone
- Internet connection
- An active bank account
- The mobile number also needs to be linked to your bank
How To Deposit on Betting Sites Accepting UPI
If you’ve worked with other virtual payment systems, then the explanation of depositing money on betting sites that accept UPI might sound overly simplified. That’s because the process of sending money from one virtual payment address to the other through UPI is straightforward. After all, this remittance system was designed with the sole purpose of simplifying.
Here are all the steps to follow to ensure that you successfully deposit money on betting sites that accept UPI payments:
1. Download the UPI wallet
To deposit money on betting sites that accept UPI payments, you must create a Unified Payments Interface (UPI) wallet. Your UPI wallet is where all the transactions are initiated, but you can download it from anywhere. That means it’s available in both Google Play Store and the App Store.
To start using this payment method on Indian online betting sites, you can choose your UPI wallet of choice from any of the platforms below:
After choosing the UPI wallet you like, you’ll need to link your current bank account with it. The UPI deposits that you’ll make to betting sites in India from your virtual payment address will be processed from your bank account. That’s why every casino player that wants to use this deposit method must provide their bank account details.
Linking your bank account with your UPI deposit account will be quite easy and you can complete the process in a few steps. However, you’ll be required to provide information like your bank account details and other details to authenticate your identity and protect other customers against fraud. Here’s a quick guide:
- Download the UPI app.
- Enter your phone number. If you’re using a dual sim smartphone, you might be asked to choose the SIM slot that you want to use.
- The UPI app will send an SMS from your phone number for verification.
- Once the verification process is complete, you’ll need to choose your bank name from the available list e.g ICICI Bank. Ensure that the mobile number you’re using is also registered with your bank account. That’s because the UPI app uses your mobile phone number to fetch your bank details.
- If you’re trying to link your bank account for the first time, you’ll need to set up your Pin. This step will also require your debit card details to complete.
- Once that’s complete, your bank account will be linked to your UPI app and ready to make your first deposit on UPI betting sites.
Generating your UPI PIN
You’ll need to first install a UPI app like Google Pay or Paytm on your phone before generating your UPI Pin. After you’ve installed the app, you’ll need to set up a personal UPI profile and follow the steps below to successfully generate your pin.
- Open a UPI payments app like Google Pay on your smartphone
- Click on the profile icon on the homepage
- Scroll down to the “Payment Settings”
- Choose the “UPI and Linked Accounts” option and you’ll find a list of linked accounts.
- If the pin isn’t set up for an account, you’ll see an option to set the pin under your bank account.
- When you choose to set your pin, you’ll be prompted to type in your credit card’s last 6 digits and the expiry date.
- Once you provide the required details, you’ll get an OTP on your phone through your registered number.
- Once you submit the OTP, you can choose the Pin you like to use on your transactions and click the submit button to finish the process.
2. Make your UPI deposits
Making deposits on UPI betting sites in India is similar to depositing money in your betting account using any other deposit method. That’s because the traditional method is widely accepted in the most trusted betting sites online. As such, the creators ensured that the payment process is smooth and can be completed with a few steps.
In general, UPI cricket betting sites allow you to send funds in two ways; to their local banks or their UPI ID or virtual payment address. The two methods are simple to use and we’ll explain in detail how every deposit method works below.
There are also two additional methods that you can use to send money to betting sites that accept UPI, but they aren’t very common in the cricket betting markets. However, we’ll also explain the two methods for anyone who might encounter a betting site that supports them.
1. Transfering funds through UPI using the account number
The simplest way to make a UPI deposit on cricket betting sites in India is to put in the operator’s bank details. The information needed to initiate such a transaction includes the account holder’s name, IFSC code, account number, and the amount you’d like to transfer.
Once you have provided all the details, you can transfer money to your betting account without inputting the details every time.
2. Transferring funds using VPA
The VPA is a unique UPI ID created for every user, regardless of their UPI application. The unique UPI ID can then be used in requesting money from your cricket betting sites or sending money to other people.
To send money to cricket betting sites that accept UPI through the VPA, you simply need to enter the receiver’s virtual address and the amount you want to transfer. Your money will be sent to your betting site account once you click “send”.
3. Transfering money using phone number
Transferring money through a phone number only works when you’re transferring money to another UPI user that has registered their mobile number with their UPI ID. By inputting the user’s registered phone number, you can transfer cash to their specific UPI ID with only a few clicks.
4. Transfering money using QR codes
This method of making UPI deposits requires you to open your UPI application and scan the bookmaker’s unique QR code. When the QR code is scanned, you’re free to send any amount of cash to the bookmaker/ receiver.
How To Withdraw From Betting Sites With UPI
Withdrawing your money from a UPI betting site is also a no-brainer for any online casino enthusiast. Here’s a quick guide on how to withdraw money from a bookmaker account that accepts UPI:
- Log into your UPI betting site using your account details.
- Locate the withdrawal button on the menu.
- Click the withdraw button and your most preferred payment methods will appear.
- Select UPI as your preferred withdrawal method.
- Enter the amount you want to withdraw from your casino or sportsbook account.
- Provide your UPI betting site with 11-digits IFSC code to prove authenticity.
- Complete the withdrawal process and get the desired amount in your account.
Pros & Cons of UPI Betting Apps & Sites in India
Whether you’re into sports betting or casino gambling, UPI betting sites are worth a look. However, it’s important to remember that UPI betting sites have pros and cons. As such, the ultimate decision of whether to play casino games on UPI betting sites rests with you, although we highly recommend UPI payments to Indian punters.
That’s why we’ve gathered the pros and cons of playing gambling games on UPI betting sites in India to help you make an informed decision.
ADVANTAGES OF BETTING SITES ACCEPTING UPI
- UPI is a trusted payment method working under the regulations set by the reserve bank of India
- No transaction fees for UPI deposits
- Allows bank transfers in Indian rupees
- Directly transfer money from your bank account
DISADVANTAGES OF BETTING SITES ACCEPTING UPI
- The money transfer might no be instant because betting sites require time to validate payments
- Players often need to finish more steps like KYC to make a UPI deposit.
UPI-allowed Indian Banks
Many banks in India support UPI payments because this system was launched as a governmental initiative to enhance digital payments. Some of the top local banking institutions that have facilities that work with this financial platform include:
- Bank of Baroda
- Axis Bank
- Canara Bank
- ICICI Bank
- Central Bank of India and others
Additionally, every bank in India features a unique UPI status in this ecosystem, ranging from PSP to issuers – each with different rights and functionalities.
Best UPI apps
When it comes to choosing UPI apps, there are several reliable options you can choose for depositing money on the best UPI betting sites. Here are the best UPI apps:
Bharat Interface for Money (BHIM) is a reliable UPI system launched by the National Payment Corporation of India. With BHIM, sports betting enthusiasts can transfer money to and from UPI betting sites using their UPI ID.
Google Pay is a popular UPI deposit system created by the tech giant, Google. The system allows users to set up a unique UPI ID that can be used to transfer money. Whether you want to withdraw money from UPI betting sites in India or deposit money from Indian banks, Google Pay is among the best. It also has a slew of promotions and offers that make payments rewarding and fun.
Paytm is among the most widely used UPI wallets and it’s accepted in most betting sites in India. While this e-wallet allows you to store the money received with your UPI ID, you can also direct your UPI payment from your bank account.
PhonePe is a popular digital wallet based on the concept of instant transactions through a UPI ID. This innovative UPI system allows users to make lightning-fast money transfers with only a few clicks through their UPI ID. As such, PhonePe is becoming widely accepted by the best UPI betting sites.
Alternatives to UPI
While we recommend UPI betting to Indian punters, some players also enjoy having more options to withdraw funds from cricket betting sites. Fortunately, the best UPI betting sites have multiple UPI alternatives, including:
- Apple Pay
- Cryptocurrencies (Bitcoin, ETH, Doge, etc)
- Paypal
- Skrill
- Neteller
- Debit/ credit card
- Direct bank transfers
- ecoPayz
- Paysafecard
Conclusion
UPI is a fast, safe, and convenient way of depositing and withdrawing money from your favorite betting site in India. You don’t need to fill in your bank details on any betting site to accept UPI payment systems and your funds are always secure. UPI betting sites also have a low minimum deposit amount, lucrative welcome bonus packages, high betting limits, and competitive odds. As such, cricket betting enthusiasts should take advantage of betting sites that accept UPI deposits for the numerous benefits it offers.
Frequently Asked Questions about UPI Betting Sites & Apps
UPI is an instant transaction system that offers person-to-person (P2M) and peer-to-peer (P2P) in rupees. This open-source API also allows the system to offer refunds and integrate easily with mobile applications and web platforms.
UPI is one of the best deposit methods for any sports betting enthusiasts looking for fast transactions. The best UPI betting sites promise instant deposits, but withdrawals take approximately 1-6 hours to reflect in the player's account. If you don't receive your money after 6 hours, contact your chosen sportsbook's customer support team.
No, users don't have to download the UPI applications provided by their banks to start transacting with this system. Most UPI wallets like Paytm, PhonePe, and others can be linked with a wide range of banks, including the reserve bank of India, Federal Bank, and others.
Yes, UPI digital payments are safe when making deposits to your betting account online. Launched by India's national payments corporation, the system uses several innovative features to protect Indian gamblers when transacting with UPI betting sites. The application binds the user's account to their phone number, ensuring your banking credentials are safe against identity theft.
UPI systems also feature two-factor authentication protocols in the form of a 4-6 digit pin that provides an extra level of protection when transacting with UPI betting sites. There are also additional security features put in place by individual UPI apps like PhonePe or PayTM.
With the recent developments in UPI payment systems, there are hundreds of Indian betting sites that punters can choose from. That includes reliable operators like Parimatch, 4rabet, 22bet, 1Xbet, and Melbet, giving Indian punters a seamless betting and payment experience. However, the UPI betting site you choose may depend on different factors including personal preference.
To guarantee the safety and security of all transactions, UPI payment applications like Google Pay and PayTm work under the regulations set by the RBI. Because of the current regulations and rules, apps like Paytm have set their daily UPI transactions limit at Rs. 1 lakh per account. However, it's essential to keep in mind that UPI transaction limits vary from one bank to the other, which can limit the amount that you can send to your bookmaker.
Yes, the UPI payment method is also available to people in the US. That means American residents can comfortably send money to India through their UPI address and also place wagers through Indian cricket betting sites. You'll only need the receiver's UPI address and you can use different banking applications like World Remit, Wise, and Remitly.
Yes, you can easily examine the payment details of any transaction using its UPI transaction ID. The UPI platform you're using can help you see the transfer status, creation time and request, the sender and recipient's bank accounts, and the amount.
Yes, you're allowed to install more than one UPI application on your phone, linked to the same account number or different accounts.
