Paytm Betting Sites in India 2021 paytm betting sites

Paytm is one of the biggest payment platforms in India, with an increasing number of betting sites offering it when it comes to depositing and withdrawing funds. Having now been in operation for over a decade, Paytm is a name that will be known to many bettors already. However, this page will outline the best betting sites offering Paytm as a payment method, as well as explaining exactly how it works and its benefits.


Best Paytm Betting Sites in India 2021

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What Is Paytm?

  • Founded in August 2010
  • An Indian e-commerce payment system based in Noida.
  • Available in 11 different Indian languages
  • Millions of merchants in India use the Paytm QR code payment system
  • Annual revenue of ₹3,629 crore

How Does Paytm Betting Work?

Paytm is the leading mobile payment and e-commerce platform in India today, helping users to transfer money instantly to anyone free of charge. Funds can be used to spend on a series of platforms, both online and offline, including betting sites. Adding money to your Paytm wallet is easy, with funds being transferred via a debit/credit card or Net Banking. Paytm users can both send and receive funds using just their smartphone, with scanning the relevant QR Code or entering your mobile number being required.


History of Paytm

Founded in August 2010, Paytm was created by Vijay Shekhar Sharma following an initial investment of $2 million. Based in Noida, Paytm was initially a prepaid mobile and DTH recharge platform, having added data card, postpaid and landline payments in 2013. The Paytm Wallet was launched in January 2014, with betting sites having been quick to add it at a method of payment. Paytm’s customer base went from 11.8 million in August 2014 to 104 million just 12 months later, while it became India’s fist payment app to reach 100 million app downloads in 2017. Paytm Gold came about in 2017 too, allowing users to make purchases at as little as ₹1. Over recent years, Paytm has developed a subscription-based loyalty program and a credit card.


Paytm Betting Sites in India

Paytm is a method of payment strictly for customers residing in India. It is India’s top financial services company, offering payments and financial solutions to users, online platforms and offline merchants. Paytm is aiming to bring half a million Indians into the mainstream through payments and banking. Paytm is owned by One97 Communications Limited, while the company’s headquarters remain in Noida, Uttar Pradesh. The likes of Softbank and Discovery Capital have invested in the company in the past. The Paytm Payments Bank has over 58 million account holders, making it the biggest digital bank in India today. Paytm now also offers insurance products to millions across India. Paytm is available on Android, iOS, Blackberry, OVI and Windows devices, while they hold a license from the Reserve Bank of India.

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  • Website available in Hindi
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Advantages of Using Paytm

It should come as no surprise that Paytm is so popular when it comes to transferring money to and from betting sites. Betting customers in India can look forward to the following advantages when using Paytm to fund their betting activity:

Widely Accepted – The vast majority of Indian betting sites accept Paytm, meaning that there is no need to worry about whether deposits and withdrawals can be made in this way.

Security – The fact that no bank cards are required to transfer funds using Paytm adds another layer of security when operating on betting sites. Bookies will never gain access to your financial information when using Paytm.

Ease of Use – It is easy to both deposit and withdraw money on betting sites via Paytm. Creating an account and processing payments are efficient at all times, something which cannot be said of all online payment methods.

Limits – Betting customers using Paytm can deposit a maximum of 1,00,000 INR per month, which should meet the needs of even the most demanding of bettors.

Fees – Both deposits and withdrawals using Paytm are processed without charge.


Paytm in Betting

The popularity of Paytm in India means that it is a method of payment accepted at many betting sites. As with any payment method, punters should only sign up with reputable and licensed bookies. Deposits and withdrawals at betting sites using Paytm are quick and convenient, with users never having to register their bank details. Your bank will only record payments to and from Paytm, rather than on betting sites, meaning that Paytm is also a good option for those looking for anonymity.

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How to Deposit and Withdraw Using Paytm

Unlike some other methods of payment, both deposits and withdrawals are available through Paytm. The following are step by step guides for processing such transactions on betting sites:

Deposits

In order to deposit funds to your sports betting account using Paytm, follow these simple steps:

  1. Log in to your betting account.
  2. Head to the cashier page and select the deposit option.
  3. Select Paytm as your chosen method of payment.
  4. Enter the amount you wish to deposit, taking into account any limits that are in place.
  5. Log in to your Paytm account after being redirected.
  6. Confirm the deposit.

Deposits using Paytm are instant, meaning that bets can be placed immediately.

Withdrawals

As we mentioned above, withdrawals at betting sites are also available through Paytm. The following steps are required here:

  1. Log in to your betting account.
  2. Head to the cashier page and select the withdraw option.
  3. Enter the amount in which you wish to withdraw, based on your available balance.
  4. Select Paytm as your method of withdrawal.
  5. Log in to your Paytm account once again.
  6. Confirm your withdrawal.

Withdrawals at betting sites through Paytm generally take anywhere from 1-2 business days to process, with the vast majority of such transactions being processed free of charge. Punters may also have to upload a form of identification before withdrawals can be made at betting sites.


Is Using Paytm Safe?

Despite having recently been banned from Google Play for allegedly breaking rules regarding gambling, it is clear that Paytm is safe when operating on betting sites. Paytm is PCI DSS compliant, meaning that the payment method can be regarded as being 100% secure. Paytm never stores user credit or debit card details, while all financial details and transactions are fully encrypted through 128-bit Secure Socket Layer (SSL) technology. Meanwhile, Paytm engages in real time monitoring and transaction engine, helping to guard against any suspicious or fraudulent activity.


How to Open a Paytm Account for Betting

Over the years, Paytm has become increasingly simple to use. This includes the creation of accounts. New customers at Paytm can create an account by following these steps:

  1. Enter the Paytm website or download the Paytm mobile app.
  2. Click or tap on the “Sign Up” option.
  3. On the registration form, enter the relevant personal details, including your full name, email address and date of birth.
  4. Enter your bank account details.
  5. Create your Paytm wallet.
  6. Verify your new account via the 6-digit OTP, which will be delivered via email.
  7. Deposit funds to your Paytm wallet for the first time in order to be in a position to upload money to your betting site account.

Paytm Fees

New regulations were put in place at Paytm in April 2020, meaning that some fees may be incurred when using the platform for depositing and withdrawing funds at betting sites. Users will now have to pay a 2% fee on the amount deposited to their Paytm wallet using a credit card, which was previously only the case if the amount was over 10,000 Rupees per month. Meanwhile, payments made using Paytm can be broken down into the following:

 

  • Bank Account:No fees
  • Paytm Cash: No fees
  • Visa Credit & Mastercard Credit: 2.0% (all categories except taxes), 2.5% (tax category)
  • Visa Debit & Mastercard Debit: 1.25%
  • American Express:3%

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Alternatives to Paytm Betting Sites in India 2021

While Paytm is hugely popular for those operating at betting sites in India today, it will not be for everyone. With that being said, there are some appealing alternatives available, with the following being our recommended payment methods:

Credit/Debit Cards – Credit and debit cards remain the most popular payment method for betting customers, with their convenience and security still being attractive. While small fees are sometimes involved, credit and debit cards are available for both deposits and withdrawals, with the speed of transactions also being pleasing.

E-Wallets – Whether it be PayPal or Skrill, the security, speed and convenience of e-wallets make them another good option for customers at betting sites. Meanwhile, the fact that customers are not required to upload their bank card details to their bookie account adds another layer of security.

Paysafecard – This prepaid card is also accepted at an increasing number of betting sites available to bettors in India. A Paysafecard card can be purchased in the following amounts: ₹5000, ₹2000, ₹1000, ₹500, ₹200 and ₹100. Paysafecard is a leading name in terms of online prepaid payments, with payments in other currencies being available too.


FAQ – Paytm Betting Sites in India 2021

✅ Is it safe to use Paytm for sports betting?

Yes. Paytm has a number of security measures in place, including 128-bit SSL encryption technology, which helps to ensure that all transactions are processed safely. Meanwhile, those using Paytm to deposit and withdraw at betting sites are not required to enter their credit or debit card details with their chosen bookie, adding another layer of protection.

⭐ Do I Have to verify payments when using Paytm?

When creating an account at Paytm, customers will have to verify their wallet using the relevant 6-digit OTP. Meanwhile, customers must login to their Paytm account before deposits and withdrawals at betting sites can be confirmed.

? Will there be any fees added when I use Paytm?

There are unlikely to be fees involved when depositing and withdrawing funds from your betting account. However, fees may be incurred when adding funds to your Paytm wallet.

? What do I do if my payment is declined?

Payments are only likely to be declined if you do not have enough funds on your Paytm wallet. So, be sure that you have added sufficient funds before looking to deposit.

? How long time will it take before my deposit is received by the betting site?

Withdrawals using Paytm are also quick on betting sites. The majority are processed in under 24 hours, however it can take up to 48 hours for customers to get their hands on winnings.


Tips for Using Paytm

When using Paytm at betting sites, there are a number of ways in which to get the best out of the payment method. With that being said, the following are our top tips for using Paytm:

  1. Take your time – Be sure to weigh up all available options before deciding whether Paytm is the best payment method available. Look at its benefits and limitations, including fees, safety, speed and limits.
  2. Fees – As we have discussed on this page, some payments processed using Paytm will come with fees. While minimal, this will have an impact. So, be sure to upload funds to your wallet using the most cost effective ways where possible.
  3. Betting Sites – Before signing up at a particular betting site, make sure that they accept Paytm as a payment method. There is nothing worse than completing the sign-up process, only to find out that deposits and withdrawals are not accepted in this way.
  4. Limits – The limits when using Paytm at betting sites should meet the needs of both beginners and experienced bettors. So, be sure to look at the limits connected, ensuring that they suit your betting strategy.

Bottom Line on Paytm Betting Sites in India 2021

Having been around since 2010, Paytm is likely to be a name in which you are already familiar with. However, you should now have a much better understanding as to just why it is so popular for those operating on betting sites. Its convenience, speed and ease of use means that an increasing number of bettors in India are depositing and withdrawing funds in this way. So, be sure to check out our recommended Paytm betting sites for yourself, before deciding whether it suits your needs.


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