What is UPI?
A UPI is a smartphone app that enables users to transfer money across bank accounts. When you use a UPI, you won’t need to constantly enter your bank information or other vital information anytime you want to start a transaction—in your instance, whenever you want to deposit money for online cricket betting at a UPI betting site.
UPI’s easy two-click authentication mechanism was created to make inter-bank transactions possible. It eliminates the need to conduct business through a bank or with actual currency and provides a safe and secure means to transfer money between two parties.
Best Indian Betting Sites and Apps That Accept UPI
How Do UPI Payments Work?
UPI operates by instantly transferring funds between bank accounts using a mobile device. The only way to make UPI payments is through a smartphone app. UPI enables users to transfer money easily through mobile numbers, UPI ID numbers, or QR codes without having to remember complicated account numbers or other information.
How to Set up UPI?
You must link to a bank supported by UPI in order to utilize this payment option at UPI betting sites. The Central Bank of India, Axis Bank, SBI, HDFC, and numerous more financial institutions are among the long list of banks on the list. Ensure that your bank has your mobile number on file if you want UPI to work for you.
When you download a UPI-compatible app like BHIM, PhonePe, Google Pay, or Axis Pay, you must follow these procedures if you bank with one of the numerous approved banks:
- Select your preferred language.
- Enter the mobile number registered at your bank.
- Enter the email ID registered with your bank account.
- In order to authenticate your phone number using UPI, you should shortly obtain a One-Time PIN (OTP).
- Once entered, a list of supported banks will show up. Choose your bank, then move forward.
- Set up your 4- to 6-digit UPI Pin, which is required at UPI betting sites, after your account has been validated.
- You must use a debit card to create your UPI PIN.
How to Deposit Money at a Betting Site Using UPI?
You need to make an online deposit on a betting site using UPI to obtain the recipient’s Virtual Private Address (UPI ID). Here’s a step-wise look at the simple process for UPI deposits to betting sites. While every site will have a different interface, in broad strokes, this is what the deposit process will look like:
- Log in to your betting account.
- Use the Wallet icon on your betting site to access the deposit screen. If there’s a welcome bonus, choose it.
- Select UPI as a payment method from the drop-down menu.
- Enter the deposit amount in the dialogue box and hit the Deposit button to pay.
- Open your UPI payment app. Look for the payment request you have received. Follow the instructions on-screen to complete your payment.
- As soon as the payment is completed, you should receive a notification of success. The money should be added to your account instantly or in a few minutes.
How to Withdraw Money from a Betting Account
For withdrawals on sites that allow withdrawals via UPI, here’s what you need to do:
- Log in to your betting account.
- Head to the Cashier page and select the ‘Withdraw’ option.
- Select UPI as your preferred payment method.
- Enter the amount you want to withdraw, within your account balance, of course.
- Open your UPI app and make sure to verify the withdrawal.
- Wait a couple of days for the amount to show up in your bank account.
UPI Deposit Services
You can make a UPI deposit or withdrawal in the following ways:
- Virtual Payment Address: Using a VPA, request or send money to/from a bank account.
- Mobile number: Request or send money to/from a bank account using a mobile number.
- Account number: Send money to a bank account.
- Aadhaar: Send money to a bank account using an Aadhaar number.
- QR Code: Send money via QR code which comprises an account number, VPA, mobile, or IFSC number enclosed.
What Are the Pros and Cons of Making a UPI Deposit at a Betting Site?
You must consider the advantages and disadvantages of every payment method before deciding if it is the best option for you. Check out our list of advantages and disadvantages before making your decision if you’re considering betting on UPI betting sites.
Pros of depositing with UPI at betting sites in India
- One-click transactions
- UPI payments are always eligible for UPI betting sites welcome bonuses
- Extremely easy to set up and use
- Government regulation makes UPI an extremely safe and secure payment mechanism, and UPI betting deposits are free.
- Highly regarded and backed by Indian betting sites
Cons of depositing with UPI at betting sites in India
- There is no anonymity with UPI because it is governed by the government, and all of your transactions are publicly transparent.
- UPI betting deposits take time to process.
Few facts about using UPI
There are a few facts about using UPI payments for deposits to a betting site:
- There are zero transfer fees
- Processing time is usually between 5 to 10 minutes
- The minimum deposit you can make is INR 1,000
- The maximum deposit you can make is INR 100,000
Benefits of Using UPI
There are plenty of benefits to using UPI for deposits on a betting site. There’s no hassle of pulling out your debit card or credit card for the card number every time you make a payment. You don’t need to remember your bank account number. UPI has given us several advantages:
- It’s a trusted payment method, with the RBI protecting consumers
- Usually, no transaction fees
- You can directly receive or send money to or from your bank account (in most cases)
- You can transact in INR. UPI apps are aimed at Indian users. You no longer have to feel like a pariah at online betting sites that transact in dollars or euros.
- You don’t need to preload a wallet like you need to do with Skrill and Neteller.
- You can use multiple bank accounts with UPI.
UPI transactions are generally quick. But some users may find the transfers take a little time. Some betting sites (especially international ones) may take a while to validate payments made via UPI. Also, the first steps to set up your UPI account involve KYC and a few extra steps.
But once you’ve gone through the initial setup process, UPI is a more hassle-free method of making deposits and withdrawals.
However, remember that some sites may not allow you to make withdrawals via UPI. In such cases, you may deposit via UPI but withdraw via Netbanking.
UPI Wallets And Digital Wallets Are Not the Same
Many individuals mistakenly believe that UPI wallets and digital wallets are similar, yet nothing could be further from reality.
The two types of wallets differ in the following ways:
- A digital wallet acts as a middleman between two bank accounts, whereas a UPI transaction is a bank-to-bank transaction.
- Unlike a digital wallet, which employs mobile numbers, UPIs use virtual payment addresses.
- While the transaction limit for digital wallets is 10,000 Indian rupees, it is 1 lakh for UPI deposits.
- UPIs permit future transactions, but an online digital wallet permits immediate transactions
Know the UPI Wallets
There are many different types of UPI wallets available, but not all of them were made equally. We’ve selected a few of the most well-liked ones below, and we urge you to carefully review them. Indians can register with many sports betting websites that allow UPI deposits from these UPI wallets.
- BHIM UPI
- HDFC UPI
- Google Pay
How safe and secure is UPI?
Indian bettors visiting UPI betting sites are protected by a number of security measures because UPI is governed by the Reserve Bank of India. Your account will be linked to your mobile number through a UPI app, protecting your login information from identity theft.
When completing transactions with UPI betting sites in India that all use encryption protocols, two-factor authentication in the form of your 4- to 6-digit pin create a second layer of security. The numerous private UPI apps, like PhonePe, have extra security protections enabled.
Banks that Support UPI in India
Not all banks in India support UPI, but almost all major banks fall under this segment. The payment facility was launched in 2016, so it is expected to grow in popularity. Meanwhile, here’s a list of banks that do accept UPI payments:
|Bank Name||UPI App Name||UPI Handle|
|State Bank of India||SBI Pay||Sbi|
|ICICI Bank||iMobile||imobile, pockets, ezeepay, eazypay, icici, okicici|
|HDFC Bank||HDFC Bank MobileBanking||hdfcbank, payzapp, okhdfcbank, rajgovhdfcbank|
|Andhra Bank||BHIM Andhra Bank ONE||andb|
|Axis Bank||BHIM Axis Pay||axisgo, axis, pingpay, lime, axisbank, okaxis, abfspay|
|Bank of Baroda||BHIM Baroda Pay||barodampay|
|Bank of India||BHIM BOI UPI||Boi|
|Bank of Maharashtra||BHIM Maha UPI||mahb|
|Canara Bank||BHIM Canara – eMPower||cnrb|
|Central Bank of India||BHIM Cent UPI||centralbank, cbin, cboi|
|Punjab National Bank||BHIM PNB||pnb|
|Union Bank of India||BHIM Union Bank UPI App||unionbankofindia, unionbank, uboi|
|HSBC||HSBC Simple Pay||hsbc|
|IDBI Bank||BHIM PAyWIZ by IDBI Bank||Idbi, idbibank|
|Kotak Mahindra Bank||BHIM Kotak Pay||kotak, kaypay, kmb, kmbl|
|Oriental Bank of Commerce||BHIM Oriental Pay||obc|
|United Bank of India||BHIM United UPI Pay||Ubi, united, utbi|
|Yes Bank||BHIM Yes Pay||Yesbank, yesbankltd|
|Karur Vysya Bank||BHIM KVB Pay||kvb, karurvysyabank, kvbank|
|Jammu and Kashmir Bank||BHIM JK Bank UPI||jkb|
Best UPI Payment Apps
Google Pay: Google Pay has the technology and support of Google, which makes it very convenient and popular. It lets you generate a unique UPI ID to make instant transfers.
PhonePe: PhonePe is growing in popularity among betting sites in India. Customers can use their UPI ID to make instant transactions in a few brief steps.
Paytm: Paytm lets you store money on the Paytm wallet, make UPI payments directly from your bank account, and more.
BHIM: This is the Bharat Interface for Money developed by the National Payments Corporation of India. Your bank very likely uses the BHIM UPI interface to send and receive payments using your UPI ID.
There are other UPI apps that your bank may or may not support. These include Amazon Pay, Mi-Pay, WhatsApp Pay, Samsung Pay, etc. Check to confirm support, so you don’t find yourself in a situation where you’re struggling to make a deposit five minutes before the cricket match begins!
Is UPI Safe?
The UPI payment system is supported by the government and regulated by the Reserve Bank of India. The National Payment Corporation of India developed it. It means payment doesn’t get more secure than this. UPI makes it easy to deposit money into your betting account in a few seconds. All you need to do is log in to your UPI account on your preferred app.
In addition, since your account is linked with your phone number, the only number you enter is your phone number, not your account number. Strong encryption ensures secure payments. Every app has its security protocol. You’ll usually be using 2-factor authentication, such as a PIN plus your fingerprint or two PINs to verify payments.
Popular Indian Betting Sites That Accept UPI Payment
Some of the top Indian UPI betting sites in India include:
Some of the most popular international betting sites that accept UPI (and UPI via Skrill) include:
- Royal Panda
Always check the fine print in the Payment Methods section to make sure there aren’t underlying conditions. For instance, some sites require you to wager the full deposit amount at least once before you can make a withdrawal.
Did you know you can also link your UPI account with popular eWallets that many betting sites accept?
Using Skrill with UPI
Some betting websites only allow payments through wallets like Neteller, Skrill, etc. If your favorite betting site doesn’t allow Mastercard, VISA, or the standard UPI app, you’ll be pleased to know that you can use Skrill’s virtual wallet with your UPI account for money transfers.
Indian players can now use UPI payments to deposit money to their Skrill wallets. Betting sites for cricket that accept Skrill include Betway, Unibet, Royal Panda, 10Cric, and Bet365.
Here’s what you need to do to set up your UPI with your Skrill Wallet:
- Log into your Skrill account.
- Find the Deposit option on the sidebar to the left. Right on top, you’ll find the usual Credit/Debit or Bank Transfer options for payment.
- Scroll down, and you’ll find UPI Payment. Skrill charges a 2.5% fee for the convenience, the same as for the other payment options. Note that you can also pay via Bitcoin and Bitcoin Cash.
The advantage of Skrill is that you can use it on websites that don’t accept UPI directly but accept Skrill payments. Examples include 10Cric, where you can pay with Bitcoins and Skrill but not UPI. Betway also accepts Skrill and a host of other payment methods.
Using Neteller with UPI
Another eWallet that has been neck-on-neck with Skrill for a couple of decades now is Neteller. Punters can now link their UPI account with their Neteller wallets for fast, secure deposits and withdrawals on betting sites in India.
It’s up to you to select a deposit method that works for you. Compared with Skrill, Neteller used to be less popular because of the 2.5% funding charge on all deposits. But now Skrill has introduced the funding charge as well. Both charge the same currency conversion fees, and both have free international money transfers. Both are popular payment methods for e-commerce websites as well.
But Skrill tends to have slightly lower foreign exchange fees and faster processing times for local bank transfers. Neteller, however, offers more deposit options (you can also deposit via a Skrill wallet) and better customer support. It’s also more widely used in Indian casinos sites.
Here’s what you need to do to set up your UPI with your Neteller Wallet:
- Log into your Neteller account.
- Navigate to the option to deposit using Online Bank Transfer.
- Fund your eWallet.
You can use Neteller with betting sites like Bet365, Betway, and others.
There are numerous UPI betting sites in the Indian market, catering to all kinds of betters. There is something for everyone. Users can examine them all to see whether they like the app or website and whether it matches their demands without worrying about payment. UPI has changed the Indian betting industry and will continue to do so every day, with billions of transactions taking place between these websites.
Frequently Asked Questions
Do betting sites accept UPI Payment?
Yes, most of the betting sites in India accept UPI, the process is also hassle-free and user-friendly.
Which Betting Sites accept UPI Deposits?
Most of Indian betting and casino sites accept UPIs as payment options such as Parimatch, 22Bet, Cricbaba, Betway, 24Betting, Sportsbet.io, and so on.
Is it safe to Deposit Money on betting sites using UPI payment?
Yes, UPI is regulated and controlled by the Reserve Bank of India making it the most trusted and safest way to make payments.
Which is the best UPI App for Betting?
All UPIs are safe to use for betting. However, PayTM and Google Pay are the most trusted and widely used UPI apps for betting.