If you enjoy online sports or casino betting, then you need a reliable way to fund your betting account. As an Indian player, there are several ways to deposit money on online betting sites. These include bank transfers, credit and debit cards as well as digital wallets. PhonePe is a well-known digital payment platform. And even though most Indians use it for other transactions, you might be wondering whether you can use it to fund your betting account. Let’s take a look at PhonePe and what it brings to the table as a digital payment option for Indian online gamblers.
Related Reading: How to deposit on betting sites in India
What is PhonePe?
PhonePe is a safe mobile money payment application available for all Indians. With this platform, you don’t have to walk out of your house to pay for anything. PhonePe allows users to not only send but also receive money.
Besides paying for services, you can settle most of your utility bills remotely, from the comfort of your home. Online gamblers may also benefit from this digital payment platform. And since some popular betting sites accept it, it comes in handy for players.
Is it safe?
Safety is always a concern when it comes to digital payment platforms. PhonePe is a legitimate and reputable brand. It is owned and run by the renowned PhonePe Private Limited, previously known as FxMartPvt Limited.
The company operates under a license from the Reserve Bank of India. We can confirm that the company complies with both national and international regulations.
All PhonePe payments go through secure and safe banking networks. Each user is given an MPIN, which is only known to them. And each transaction requires the user to enter their MPIN.
The platform doesn’t hold any personal data, and so long as you keep the pin to yourself, it is incredibly safe.
How to deposit with PhonePe on a betting site
Currently, only a few online betting providers accept PhonePe as a payment option. However, you can transfer betting funds to a lot more gambling platforms in India using PhonePe. Moreover, it doesn’t have to be listed as part of the betting site deposit option.
Depositing money into your betting account using PhonePe is super easy. It compares to sending your friend some money using another mobile money payment method.
To fund your betting account using PhonePe, you need a PhonePe account. You will need to download the PhonePe app on your mobile phone first. You can get it from the PhonePe website or Google’s Play Store. With a reliable internet connection, this should only take a few minutes.
Once you install the PhonePe app, you can proceed with the registration process. Here are the steps to follow;
- Verify your mobile phone number- Enter a phone number that’s connected to your bank account. You’ll receive a one-time password from PhonePe instantly. Enter it to verify your number.
- Fill in your details- After verification, the PhonePe platform will direct you to another form where you need to fill in your legal name, email address, and create a password. Then, read and accept the PhonePe terms and conditions, and activate your new account.
- Create your Virtual Payment Address (VPA). VPA acts as your user name. With this, you will not need to enter your account number when receiving or sending money.
- Link to your bank account – Once the VPA is ready, select the bank account you would like to link with PhonePe. The application will automatically access your bank details (with the help of your verified number). You can then confirm all the necessary information, and your PhonePe account will be ready for use.
Note that you need a BHIM PIN to authorize all transactions. In case you don’t have one, the app will direct you on how to set up one. The process will require you to key in the last six digits of your ATM/Debit card.
Betting sites that accept PhonePe payments in India
There are lots of online betting sites in India. Regardless of the prevailing unclear betting laws in India, players can freely place a bet on these offshore online gambling platforms.
Previously, there was a challenge with depositing and withdrawing money from betting sites in India. But today, things have changed for the better. Below are several betting sites that accept PhonePe as a payment option;
10Cric
10Cric is one of the leading betting sites in India. It offers a variety of payment options for Indian players, including PhonePe. So how can you deposit money in your 10Cric betting account using PhonePe?
You need to log into your account and proceed to the deposit section on the site.
Fill the deposit form, and even if you intend to bet on sports, type the word “Poker” on the description section. The site will provide several payment options such as UPI, bank account, debit card, and more. You’ll see a drop-down menu that will allow you to choose your preferred wallet option. Pick PhonePe, log into your PhonePe account and complete the deposit.
1xBet
The online betting scene in India is exciting; 1xBet is yet another excellent betting platform that accepts withdrawals and deposits from PhonePe. To fund your 1xBet betting account through PhonePe, start by logging in to your account. Head to the deposit page and select PhonePe. A deposit form will pop up. Fill in the amount you want to deposit and any other required details. Request the deposit, and an intermediary account will appear on the screen. Follow all the transfer instructions to fund your betting account successfully.
BetStarExch
BetStarExch hasn’t been operational in India for long. But it has undoubtedly made massive strides in the Indian online gambling scene. It is a legitimate gambling platform that allows players to fund their betting accounts using PhonePe.
The process is pretty straightforward. Once you are on the deposit page, select PhonePe as your deposit method, and follow the instructions carefully.
Advantages of using PhonePe
- It allows you to deposit money into your betting account through your phone conveniently
- It is safe and fast
- Accepted by popular betting sites
- Works incredibly well both for deposits and withdrawals
- It is a cheaper payment method
The downside of PhonePe
- Only a few betting sites provide PhonePe as a payment option
Maximum and minimum deposit limits of PhonePe
You can deposit a minimum of ₹ 500 into a betting account using PhonePe. But the maximum deposit amount for Indian punters is capped at ₹ 20,000. To deposit a larger amount, you may have to split the deposits.
If you are an avid Indian punter who is always looking for a quick, reliable, and safe payment platform, then PhonePe is ideal for you. All you need to do is confirm that your preferred betting site accepts PhonePE, and you are good to go.
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