How to Deposit Money in Paytm to Use for Betting

As an Indian punter, the chances are that you immensely enjoy placing bets online. Betting online is fun and lucrative. But if you want to bet conveniently, you must find a reliable gateway that allows you to deposit and withdraw funds with your preferred bookie safely. This may be a challenge for most Indian bettors, given that the law concerning the transfer of money to betting companies is somewhat restrictive. Fortunately, there are reliable money transfer platforms such as Paytm.

Related Reading: How to Deposit on Betting Sites in India

What is Paytm?

Paytm is a renowned mobile money transfer platform that allows users to send and receive money instantly at no cost. You can use this wallet to pay utility bills, send money to family and friends, or fund your betting account. 

The Paytm app is user-friendly and easy to download as well as operate.

Is it safe to use Paytm?

Paytm is one of the safest money apps in the industry. The platform doesn’t store customer’s CVV number and it’s PCI DSS compliant, which means that your Debit and Credit card information is super safe. Also, the platform comes with a 128-bit encryption SSL, which safeguards your transactions from third parties.

The company monitors all transactions frequently to see if there are any suspicious activities and takes the necessary action when required. Like other reputable money transfer platforms, Paytm is a regulated payment service provider by the Reserve Bank of India.

How long does it take to deposit with Paytm?

Depositing with Paytm takes only a few minutes once you log into your account. Transferring funds into your betting account is instant.

How do I sign up for Paytm?

Signing up for Paytm is quite easy. All you need is to visit paytm.com, and from the website’s top right corner, you’ll see the SignUp option. Click on it, enter your details, including your mobile phone number and email address, then create a password. 

After that, click on ‘Create your Paytm wallet.’ This will require you to enter the OTP you’ll receive, and your first and last name. Your Paytm account will be created automatically. 

How to deposit with Paytm on betting sites?

Create a Paytm account

If you want to use Paytm to fund your betting account, you need to create an account first. Once it is up and running, you can launch the app on your phone or log in through your computer.

Go to the deposit page

After launching the Paytm app, proceed to the deposit page on your select bookie. Click on the menu and select the deposit option.

Choose the amount to deposit

Enter the amount you want to deposit. Most casinos specify the maximum and minimum deposit amounts they accept. So, here, you will need to enter a figure that is within the accepted range.

Fund your Paytm wallet

Depositing money to your betting account requires you to fund your Paytm account. If you don’t have money in your Paytm account, you can fund it through your preferred Credit card, Debit card, BHIM UPI, or Net Banking. It is also possible to link your Paytm account to your bank through UPI. 

Depositing money to your Paytm account is straightforward. Besides that, funding your Paytm wallet is free of charge. In case your account has money, skip this step.

Head over to your betting site

You need to choose a site that accepts Paytm as one of its payment options. Login to your betting account and head to the deposit section.

Pick Net Banking as your payment method

Once you get to the part where you have to select a payment method. If you don’t see the Paytm option, choose Net Banking, and it will redirect you back to your bank.

Accept the Paytm payment request

What will happen is that Paytm will open, and you will receive a request from your bank instantly. Proceed to confirm the UPI request from the bank. Paytm will accept the payment.

Wait for the betting site to confirm

At this point, you wait for the betting site to confirm receipt of the funds. This may take a few seconds. And then, you will receive an alert letting you know that you have successfully deposited money into your betting account.

The pros of using Paytm for betting

• It is super easy to link your Paytm account to your bank account
• You can fund your betting account instantly with Paytm, and the funds will reflect on your betting account in a few seconds
• You don’t need to use your computer every time you want to fund your betting account. With the Paytm app, all the transactions, as well as betting, can be done through your phone
• As an Indian Punter, you won’t incur any currency conversion rates as Paytm accepts the INR

Cons 

• The Paytm app is independent of your betting app. You have to download both of them
• You can’t transact on Paytm when offline. You need a reliable internet connection to go online and make your transactions
• You will be charged a 5% fee when transferring money to your bank account

Most online bettors are always on the lookout for a fast and secure method to fund their betting accounts. Luckily, Paytm has all the qualities that you would want from a mobile money transfer platform. Like we have said, it is a reputable platform that is regulated by the necessary authorities. You can use it both on your mobile phone and computer. Aside from that, Paytm is accepted by most popular betting sites across the world. And this means that it is ideal for Indian punters. 

Opening an account with Paytm and linking it to your bank is straightforward. So, as you embark on your betting activities, choose a betting provider that offers Paytm as one of its payment options.