Which Betting Sites Accept Paytm?
Paytm was the first eWallet in India and, as such, made it possible to pay in a local store, thus revolutionizing digital payments in the country.
But when it comes to betting sites, is using Paytm legal and safe?
And which are the trustworthy betting sites that accept Paytm?
We’ll tell you that and everything you need to know about depositing and withdrawing from betting sites using Paytm and Paytm UPI.
Top Paytm Betting Sites in India
Pros and Cons of Using Paytm for Betting
No Transaction Fees
Regulated by the Reserve Bank of India
Add Money via Debit and Credit Cards
Fast Deposits and Withdrawals
Can Be Used Via UPI
Rigorous KYC Verification
Not All Sportsbooks Support It
Currently, Not Accepting New Users
How to Create a Paytm Account
Similarly to creating a PhonePe account, making a Paytm account is very easy, and you can do it in a few steps.
First things first, you’ll need to download and install the Paytm app from the Google Play Store or App Store. Once you do that, open the app and follow the steps below.
1. When you open the app, you’ll get an option to log in or create a new account.
No matter if you’re creating a new account or logging in, you’ll need to enter your phone number first.
2. Enter your phone number and click “Proceed Securely.”
3. You’ll get an OTP code you need to enter into the app to verify your account. Once your code is confirmed, your account is created.
4. You’ll now be asked to connect it to your bank. You can choose to do it later, but we recommend you do it now, or you won’t be able to send/receive money.
5. Click on the link bank account, and select the bank account linked to your mobile number.
6. Paytm will send an SMS to verify the bank.
How to Verify Paytm Account
Now, verifying your identity is as easy as creating an account.
However, Paytm is very strict when it comes to identity verification and takes this step very seriously.
This means that you’ll have to wait a few days for their team to verify that the info you provided is valid.
That’s why we advise you to start the verification process as soon as you create a Paytm account.
The easiest way to verify your identity is to link your Aadhar Card, but any government-issued document is accepted. This includes a passport, driver’s license, voter ID, etc.
To start the verification process, you need to:
1. Open your Paytm app.
2. In the top menu, click the KYC icon.
3. Enter your Aadhar Card details and the OTP you got.
4. Verify this information and provide more info on your full name, date of birth, email address, etc.
The process is now finished, and all you need to do is wait for the Paytm team to verify the info.
*Please note that our account has already been verified, so we’re using images from Paytm’s site to show this process.
Note, at the time of writing the article, Paytm wasn’t onboarding new customers due to a ruling by the RBI. Thus, new users won’t find the KYC option and neither can you use your Paytm wallet.
However, you can still use Paytm via UPI. This is also a great alternative way to use Paytm, not just due to the RBI ruling but also because most sportsbooks do not directly support it.
Here’s how to go about it.
How to Deposit With UPI
The good news is that you won’t have to set up a separate UPI account and connect the two services.
Paytm and UPI work on the same platform, so by downloading the Paytm app and creating an account, you’ll be able to use both Paytm and UPI with the same phone number.
Just follow the steps below.
And this time, we’ll use 10Cric India as an example. As usual, you’ll need to sign up for a betting account or log into an existing one.
1. Go to the top bar and click on “Deposit.”
2. Find UPI and click on it.
3. Enter the amount you want to deposit and click “deposit” again.
4. Select UPI from the tabs.
5. Enter the Virtual Payment Address, and you’re done.
Deposit With Paytm UPI at These Sportsbooks
How to Withdraw With Paytm UPI
Again, withdrawing your winnings is very easy. All you have to do it follow our instructions:
- Hover over your name until you see a list.
- Click on “Withdrawal.”
- Select UPI from the menu.
- Enter the amount you want to withdraw.
- Confirm the transaction.
And there you have it! Your money will be in your UPI account shortly.
If you have an old Paytm account that has already been verified, then you can use your Paytm wallet to make deposits on any sportsbook that supports it.
Here’s how.
How to Deposit With Paytm
We’ll use 22Bet India here as they support Paytm.
1. Log into your account and click “Deposit” in the top bar.
2. Select Paytm from the list of eWallets.
3. Enter the amount you want to deposit and confirm.
4. You’ll be taken to a new window where you’ll need to confirm the amount and your wallet number.
5. Entering your transaction ID is the final step.
That’s it! Now you need to wait a few minutes until the money is transferred into your betting account, and you can place a bet!
Make Your First Deposit on These Trusted Betting Sites
How to Withdraw With Paytm
If you made it this far, it means that you won some bets. Congrats!
Withdrawing your winnings is as simple as depositing money into your betting account.
To do so, you’ll need to:
1. Hover over your account icon until you see a menu.
2. Click on “Withdraw Funds.”
3. Find Paytm and click on it.
4. Enter the amount you want to withdraw and your wallet number.
5. Confirm the transaction; you’ll soon have the money in your Paytm account.
Withdraw Your Winnings Using Paytm from These Sportsbooks
Paytm Fees and Withdrawal Times
Indian players love Paytm because it’s incredibly fast. Deposits and withdrawals are very fast.
You might need to wait from 15 minutes to a few hours for your transactions to be complete.
This is way faster than other payment methods. For example, you usually have to wait up to seven days for bank transfers.
Another great thing is that there are no fees for depositing and withdrawing funds on betting sites.
Pros and Cons of Using Paytm for Betting
There are numerous advantages of using Paytm for betting, but the essential ones include:
No Transaction Fees for Depositing
This is one of the major pros since you can deposit money into your betting account and withdraw your winnings without taking away from your betting budget.
Regulated by the Reserve Bank of India
Another big pro is that Paytm is an incredibly safe service.
Besides the latest SSL protocol, safety and security are also ensured by the RBI — India’s central bank and regulatory body for controlling the Indian rupee.
Add Money via Debit and Credit Cards
You don’t have to wait hours or days to transfer money from your credit card into your betting account.
You can connect your cards with Paytm and fund your account straight from your chosen card.
Fast Deposits and Withdrawals
Depositing money fast into your betting account can mean the world when you’re trying to place a bet right before a match starts.
Fast services like Paytm will ensure you don’t miss any important bets.
Of course, nothing is perfect, and Paytm has its downsides, though they’re not numerous.
They’re known for their rigorous KYC verification that can take up to several business days, but that isn’t necessarily a bad thing as it ensures user safety.
As we mentioned, this is the reason you should start the process as soon as you create a Paytm account.
Moreover, not all sportsbooks support Paytm, but you can always use Paytm UPI.
FAQs
Is it legal to deposit on Paytm betting sites?
Yes, depositing and withdrawing with Paytm is legal in India. Just make sure that you submit valid info.
Is Paytm safe to use on Indian betting sites?
Yes, just like Skrill, Paytm is incredibly safe to use on Indian betting sites. The service is protected by the latest SSL protocols and regulated by the Reserve Bank of India.
Can we use Paytm on Betway?
No, you cannot use Paytm on Betway as Betway has restricted Indian accounts.
Does Bet365 accept Paytm?
Bet365 doesn’t support Indian accounts anymore. If you want to use Paytm either directly or via UPI, we’d suggest trying other sportsbooks, such as 22Bet, Parimatch etc.
How can I bet on cricket with Paytm?
Betting on cricket with Paytm is very easy. Follow our instructions to create a Paytm account and choose one of the betting sites from our list. Deposit money into your betting account, find a cricket match you want to wager on and place your bet. It’s that easy!
