Did you know that you can fund your sports betting account with Paytm? Yes, it is not only very possible but also very easy!
Over the last few years, Paytm has become one of the largest online payment platforms, boasting hundreds of millions of customers.
In this article, we will tell you all you need to know about Paytm and give you a detailed guide on how to deposit money into your betting account with this payment method.
Find out the good and the bad sides of betting with Paytm, and the sites that allow us to deposit money with Paytm.
WHY DEPOSIT WITH PAYTM?
First of all, it’s incredibly convenient to use. It’s available to all Indians, no matter what color, creed, or caste they come from.
Paytm can be used to send even very small amounts, so you don’t have to be rich or famous to use Paytm. Paytm is available for all, no matter how rich or poor you are!
You don’t need to have a bank account to use Paytm!
Another benefit of Paytm is that it’s very secure – as much as any international e-wallet – because they are regulated by the Reserve Bank of India. This means that your money is always in safe hands when you deposit with Paytm.
PROS & CONS OF DEPOSITING WITH PAYTM ON A BETTING SITE
Pros
- There are no fees when depositing money on a betting site.
- Allows players to deposit and withdraw Indian Rupees.
- Safe and secure: Paytm is strictly regulated by the Reserve Bank of India.
Cons
- The fee when withdrawing money from Paytm to a personal bank account is quite steep at 4%.
- Account setup may take a little time due to strict verification and KYC procedures.
How to Deposit on a Betting Site with Paytm
Now that you have a general overview of what Paytm is about, it is time to show you how to use this method to fund your betting account.
Depositing money into your betting account with Paytm is very easy, and we are going to take you through the process in this detailed guide.
STEP 1: OPEN A PAYTM ACCOUNT
To access all the wonderful features of Paytm, you need to open an account.
For the best possible experience, you should download the Paytm app from either the Google Playstore (for Android users) or the apps store (for iOS users).
If you don’t have a smartphone, it is not the end of the world! Just visit the Paytm website and sign up normally.
You have the option of selecting your preferred language before starting your registration. Remember, Paytm is available in English and 10 other Indian languages. Depositing money with Paytm is super convenient!
If you are using the app, click “Create a New Account” from the welcome page to begin your registration, while you should tap “Sign Up” if you are registering from the PayTM website.
- You will be asked to provide a few basic details, including your phone number, your preferred password, and an email address.
When you supply this information, Paytm will send a One-Time Password (OTP) to your phone number for verification. Enter the OTP into the space provided to proceed.
Now enter your first name, last name, and date of birth in the appropriate spaces and click “Create Account”.
Congratulations – You are now the proud owner of a brand new Paytm account!
STEP 2: FUND YOUR PAYTM WALLET
Before you can transfer money from your Paytm wallet into your betting account, you need to have some money in your Paytm wallet.
Funding your Paytm wallet should not be a problem. It is a very straightforward process that can be done in a matter of minutes.
To deposit money into your Paytm wallet, log into your Paytm account with your phone number and password, and click “Add Money” from your home page. Enter the amount you want to add to your wallet and click “Add Money”.
After doing this, you will be asked to select your mode of transaction. PayTM allows us to transfer money into our wallets via the following means:
- Bank Account
- Debit Card
- Credit Card
- Netbanking
- BHIM UPI
Based on the mode of transaction you have selected, enter the required details and click “Pay Securely”.
For example, if you have opted to pay with your debit card, you will be asked to fill in your card details. Your bank account information will be requested if you are doing a bank transfer, while your UPI details will be required if you are paying via BHIM UPI.
When you click “Pay Securely”, an OTP will be sent to your phone. Enter this OTP to authorize the transaction.
VERIFY YOUR PAYTM ACCOUNT
- You must verify your identity before you can take full advantage of your Paytm account!
When you sign up on Paytm, you will be able to fund your wallet, deposit on betting sites, and do online transactions with PayTM merchants.
However, you will not be granted access to some other services, including sending money to another Paytm wallet or bank account, until you complete your KYC (Know Your Customer). KYC can be done in different ways.
You can either do it yourself, request a Paytm agent to come to your location and do it for you, or visit a nearby KYC center to complete the process.
In all of this, you will be required to present verification documents such as Aadhaar Card, voter ID card, or PAN card. Full KYC will also increase your PayTM limits.
STEP 3: DEPOSIT ON A BETTING SITE USING PAYTM
Like we mentioned earlier, one of the very few negatives of Paytm payments is that the payment method is not present in many bookmakers.
However, we are confident that within a few years, Paytm will become one of the most popular payment methods in the betting scene. Paytm betting will be very big shortly.
1xBet: Deposit with Paytm
How to deposit money into 1xBet with Paytm
1xBet is fairly new in India, but it has jumped the cue to become one of the most popular betting sites in India.
1xBet has many amazing qualities, including a massive sportsbook and vast betting options. When you sign up on 1xBet, you will be able to bet on over 1000 sporting events daily. Aside from Paytm, 1xBet also accepts many other deposit methods such as PhonePe, AstroPay, UPI, Google Pay and more!
All you need to do is to select the deposit method that is convenient for you, deposit some money, and start betting! To deposit money into your 1xBet account via Paytm, you have to pay the money into a 1xBet Paytm wallet and then request that the money be transferred into your 1xBet account.