Unified Payments Interface, better known as UPI, is one of India’s most popular online payment systems today. Allowing one-click payments on UPI Betting Sites in India has developed a reputation for being secure and facilitating quick and convenient transfers. Its popularity means that it comes as no surprise that many online bookmakers accept UPI payments. Whether you are looking to deposit or withdraw funds, UPI could be the payment method for you. This page will explain exactly how UPI works and its main advantages and list the best UPI betting sites.
Best Betting Sites that Accept UPI Payments
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UPI Betting Sites
UPI has become one of India’s most popular payment methods since its launch in 2016, with it now having a strong association with the gambling industry, including online bookies and casinos. An increasing number of UPI betting sites have decided to facilitate such payments, including deposits and withdrawals. With payments being available through a host of mobile apps, the UPI payment option is preferred for most Indian players. As such, all the leading betting sites accept UPI deposits and withdrawals today.
UPI in India
UPI is currently only available to residents in India. There have been talks surrounding introducing the mobile payment system in both the United Arab Emirates and Singapore, two areas where many Indian expats are located.
For now, UPI remains solely for Indian users, with a host of domestic and international online bookmakers now accepting this payment method. Today, nearly all the betting sites India accept UPI, so it’s a great option available.
Best UPI Betting Sites April, 2024
| # | Betting Site | Accept UPI | Bonus |
|---|---|---|---|
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What is UPI Payment Method?
UPI, or Unified Payment Interface, is a real-time payment system that has been in operation since 2016. Users can process inter-bank transactions thanks to the platform developed by the National Payments Corporation of India. Regulated by the Reserve Bank of India, UPI instantly processes payments between two bank accounts on mobile devices. UPI is now associated with over 200 banks, helping them to process over 2110 crore before the end of 2020.
UPI requires only the recipients mobile telephone number in order to send funds. Using UPI means that there is no need to enter bank account details each time a payment needs to be made, which makes UPI betting sites a safe option.
The service also allows you to use multiple bank accounts, so if you prefer, you can set up a preferred bank account for betting to ensure you don’t spend money you can’t afford to lose.
How Does UPI Work?
UPI processes online payments from one bank account to another through mobile telephones and tablets. Payments must be made via the UPI mobile app, with transactions being completed using telephone numbers, ID numbers or QR Codes. Money can be both sent and requested using this payment method, making it an appealing option for betting customers. Any UPI app can be used to make payments and receive funds, with examples including Google Pay, PayTM, Samsung Pay and WhatsApp Pay.
UPI 2.0 was launched in 2018, allowing users to link their overdraft accounts to their other accounts. This update also came with the option to create automatic payments for recurring transactions. All banks available to use with UPI are listed by the National Payments Corporation of India. Here, potential users can also view their UPI app and handle.
History of UPI
The UPI pilot system was first launched in April 2016, before banks started to get on board just a few months later. From processing around 92,000 transactions per month initially, this figure now sits at over 100 million, making it one of the biggest organizations of its kind in India. The platform was established with the help of Governor Raghuram Rajan, with growth having been aided by the government’s drive for cashless transactions.
Pros & Cons of UPI Sports Betting
Like any method of payment, there are both benefits and limitations when it comes to using UPI for sports betting India. However, for those considering using it, it is likely to be the following advantages that attract them:
Pros
- Many UPI betting sites in India
- One-click payments
- Easy to use
- Deposits are instantly processed without charge
- Available at an increasing number of betting sites
- Deposits via UPI eligible for betting bonuses in most cases
- Government regulations make UPI secure and reliable
Cons
- Transactions may not be processed instantly
How to Deposit & Withdraw Using UPI
Unlike some other payment methods, UPI can be used to both deposit money and withdraw winnings at betting sites. To give punters a better understanding of the processes involved, below are step by step guides surrounding the two options. We will take it that you have already selected one of our recommended UPI betting sites and have the UPI deposit method set up.
UPI Deposit
- Login to your bookmaker account.
- Enter the cashier page and select the “Deposit” option.
- Enter the amount you wish to deposit, taking into account any minimum and maximum figures that have been put in place.
- Open your UPI wallet using your mobile device.
- Send the relevant amount to your bookmaker account using its UPI ID.
- Wait just a matter of seconds for your transfer to be processed.
UPI Withdraw
- Login to your betting account.
- Head to the cashier page once again and select the “Withdraw” option.
- Select UPI as your preferred payment method.
- Enter the withdrawal amount based on your available balance.
- Open your UPI app and verify the withdrawal.
- Wait between 1-2 days to receive your winnings.
How Secure is UPI in Betting?
The fact that the Reserve Bank of India regulates UPI should tell you everything there is to know about the payment option. However, if this is not enough to satisfy your demands, you will be pleased to hear that a host of additional measures have also been taken to protect punters. There is no need to enter your bank account number or card details on your betting site with UPI. Instead, just your mobile number is used.
Meanwhile, two-factor authentication is used to verify payments, whether it be a 4 or 6-digit pin. On top of this, encryption technology is used to ensure the security of all personal and financial details. Specific apps facilitating UPI payments may also have their own safety protocol, such as PhonePe, the Indian digital wallet platform.
How to Open a UPI Account
Before you can start processing payments at betting sites through UPI, you must join one of the payment system’s supported banks. The list of banks associated with UPI is growing rapidly, with the likes of Axis Bank, SBI, HDFC and the Central Bank of India having long been signed up.
The next step is to download a UPI-supported mobile app, with examples being Google pay, Axis Pay, PhonePe and BHIM. Once this has been achieved, punters can follow the following step by step guide to being in a position to start processing payments:
- Chose your preferred language from the available list.
- Enter your mobile telephone number in which you registered with your bank.
- Enter your email address. Enter the One-Time PIN (OTP) in order to verify your number with UPI.
- Select the relevant bank.
- Establish your 4 or 6-digit UPI PIN using your debit card.
- Start making payments!
UPI Fees
Another appealing point regarding UPI transfers is that the vast majority of transactions processed in this way will be completed without charge. However, this depends on your bookmaker and bank ultimately. The only guaranteed fee that will be incurred comes if you use UPI more than 20x per month. In this event, a fee of between 2.5 and 5 Rupees will be charged.
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For Indian casino enthusiasts, playing online casino games used to be challenging. In India, joining an online casino and making deposits was nearly impossible because most deposit methods were unavailable to Indians. Thankfully, this is no longer the case, and today, most online casinos accept UPI.
These days, it is easier than ever to deposit at an online casino, especially in a UPI casino. The process is the same as when you play at a sports betting site as a casino site. Besides, most gambling sites will have both options available, so there is no need to look for a brand new casino site if you are happy with the sportsbook you have found.
Alternatives to UPI
For those looking for an alternative to UPI payments, a number of secure and convenient payment methods are available at Indian betting sites. When deciding which to use, take into account their speed, ease of use, privacy and availability.
- Skrill betting – Founded in 2001, Skrill is a digital wallet that is available at the vast majority of betting sites. Skrill is available in 40 different currencies, perfect for times when Indian Rupees is not accepted. Skrill has an excellent reputation within the betting industry, known for its fast, convenient and secure payments.
- Google Pay betting – Similar to UPI, Google Pay offers in-app one-tap payments. Powered by the might of Google, this payment option is becoming increasingly accessible, with users in India being able to use both Android and iOS devices here.
- Debit Card betting – This remains the simplest form of moving money to and from your betting account. Debit cards are easily accessible in India today, whether it be through banks or other financial institutes. Here, you can only spend what you can afford, making gambling beyond your means difficult. However, punters must enter their bank card details when making payments at betting sites.
Tips for Using UPI
Using UPI is simple. However, there are still some steps that users can take in order to get the most out of the payment method and remain safe at all times. With that being said, the following are our expert tips for using UPI betting sites:
- Personal Details – Never share your UPI account details with others. This includes your UPI PIN, which, if fallen into the wrong hands, can cause serious damage.
- Check Regularly – Be sure to keep a close eye on your UPI account. This will ensure that any unexpected or unverified payments are quickly addressed.
- Wi-Fi – When using UPI, we recommend steering clear of open Wi-Fi networks. When using your device on such networks, it is unknown if others have access to your details.
- Bonuses – When considering taking advantage of a betting bonus, be sure to take a close look at its terms and conditions. Bookmakers will regularly state that certain payment methods will not be eligible for rewards. As such, it may be that UPI is restricted, even though we find that most UPI betting sites don’t limit bonuses for UPI users.
- Fees – Take into account that those using UPI to make payments more than 20 times per month will incur a small fee. As a result, it may be wiser to process larger amounts to keep your betting account topped up for a longer period of time.
Bottom Line on UPI Betting Sites
With mobile betting growing rapidly, it is no surprise that mobile payment methods such as UPI are also gaining in popularity. The convenience, speed and safety of UPI deposits and withdrawals continue to attract punters, with this being the preferred payment method for millions of betting customers in India today. The number of online betting sites that accept UPI is rapidly growing, so it’s even easy to find.
Be sure to check UPI out for yourself if you’re not already an experienced user.
UPI Sports Betting | FAQ
Is it safe to use UPI in sports betting?
Yes. UPI is fully licensed and regulated in India, making it perfectly safe to use at online bookmakers. All payments are processed using state of the art encryption technology, while only reliable banks are used to facilitate transfers.
Do I have to verify anything when using UPI?
Yes. Each and every payment using UPI must be verified. This can be achieved by entering your unique UPI PIN and mobile telephone number. This is to ensure that no fraudulent activity occurs.
Will there be any fees added when I use UPI?
This is unlikely. The majority of deposits and withdrawals using UPI at betting sites are free of charge. However, those using UPI 20+ times in the same month may well incur a small fee.
What do I do if my payment is declined?
The majority of payments processed using UPI go through without any issue. However, if you have been waiting more than 1 hour for funds to clear, be sure to contact the customer support team of both your bookmaker and bank. Also, check that all details entered are correct and that you have the finances to fund payments.
How long will it take before the betting site receives my deposit?
UPI deposits are instant, meaning that punters can effectively take advantage of ever-changing markets at sports betting sites.
How long will it take before my withdrawal is received from the betting site?
Withdrawals processed using UPI are likely to take between 24-48 hours to process. Compared to other payment methods, this is quite quick.
How do I deposit using UPI?
It’s easy to deposit at all betting sites that accept UPI. Just click on “Deposit”, choose UPI as an option and follow the instructions on the screen. Generally, you need to open the UPI wallet on your phone and send money to the casino using the recipient details on the screen.
How do I create a UPI ID?
First, you need to choose an e-wallet in the UPI network, like Paytm, BHIM, PhonePe or Google Pay, which you can download on your phone. Then you need to link it to your bank account to draw funds. It’s not a big hassle; just follow the information on the screen and input your correct information.
Does Betway accept UPI?
Yes, Betway does accept UPI deposits and withdrawals.
Arjun Jindal | Last Modified: May 20, 2022
