Deposit With UPI At Online Sports Betting Sites – A How-To Guide
UPI stands for Unified Payment Interface and it has rapidly taken over as the number one preferred online payment method for millions of people across the Indian subcontinent. Hundreds of thousands of Indians already use UPI to bet on their favorite IPL teams and players.
In this guide, we will give you clear instructions as to how you can set up your UPI wallet and make money betting on IPL matches.
Why Choose UPI for Cricket betting?
Before we get into the steps to register for UPI, let’s ask – why choose UPI? After all, you can make payments online using a credit/debit card, e-wallet, net banking, etc. A lot of the bettors deposit via Neteller or Skrill to bet but there is a reason UPI is so popular across India is that it offers some distinct advantages.
Pros of using UPI to bet on Cricket
- UPI deposits and withdrawals are generally free. If there are fees, they are nominal.
- UPI transactions are processed lightning fast. Once your UPI deposit is approved, the money is immediately available in the online cricket betting website cashier
- UPI is approved and regulated by the Reserve Bank of India – this makes it 100% legitimate, safe and secure
How to Sign up for UPI?
- There are two prerequisites, namely, a smartphone and an Indian bank account.
- Download a UPI wallet app onto your smartphone (some popular options are Google Pay, PhonePe, Paytm) – these apps are available on the official Google Play Store and iTunes App Store
- Open the UPI wallet app and complete the registration form by providing accurate and factual details
- The app will now prompt you to create a VPA (virtual payment address), just follow the prompts and you will be able to create your VPA in a matter of minutes
- Link your bank account to your VPA. The UPI wallet will ask for your phone number (enter the phone number linked with your bank account) and the app will automatically fetch your bank details, ask you to confirm the details, and link the account.
- Now, whenever you send or receive money using UPI, the funds are either directly credited to your bank account or deducted from your bank account balance.
Note that you can use UPI via multiple wallets, you don’t have to keep just one.
Betting Sites That Accept UPI
How to place bets online via UPI?
Now that you have a VPA address and a UPI wallet app, you can use this for the purpose of betting on sports. Cricket, particularly IPL betting, is very popular, but you can also do Premier League betting, other football leagues/competitions, tennis, basketball, volleyball, etc.
In order to bet on sports using UPI, you must first choose a sports betting website that is available in India and supports UPI. There are several options to choose from.
What to look for in an Online Sportsbook?
When choosing an online sportsbook, there are various factors to consider. A sportsbook that is good for one individual may not meet the requirements of another. Depending on your sports betting requirements, a few things to look for are –
- Is the sportsbook legitimate and trustworthy? Is it licensed, regulated and is it trusted by many players?
- Does the sportsbook offer cricket, football, horse race betting, and whatever other sports/e-sports you may be interested in betting on?
- Does the website support UPI for deposits and withdrawals? Are there any charges?
- Does the sportsbook offer a welcome bonus? Are there other bonuses to look forward to once the welcome bonus has been used up?
- Does the sportsbook support the bet types that you would normally take – Moneyline, spreads, accumulators, etc.
- Is the website mobile-friendly? Can you play on the go? Does the sportsbook have a mobile app that you can download?
- Does the sportsbook support Indian Rupees (₹) as one of the currencies?
We have a guide where we have done a comparison of the best betting sites in India. Once you’ve chosen a sportsbook, you can go ahead and sign up for an account with the sportsbook. The registration process is usually simple and takes just a minute or two.
Simply click on the ‘sign-up’ or ‘register’ button and complete the registration form that appears. Once you’ve verified your email address and/or your phone number, your sportsbook account is activated and you are ready to make your first deposit using UPI.
How to Make Deposits and Request Withdrawals ON BETTING SITES via UPI
Now that your sportsbook account is ready to go, below are instructions on how to make a UPI deposit. (These may vary slightly in some sports betting websites, but the general concept is pretty much the same).
- Make sure you are logged in to your sportsbook account and that you are connected to the internet
- Click on the cashier icon (this is usually shown in the form of a wallet with (₹0.00) to start with)
- Now, choose UPI from the list of deposit methods displayed
- Enter your deposit amount
- Enter your UPI VPA (for example yourname@axisbank) and Click on Deposit or Submit
- You will receive a notification from your default UPI app (Google Pay, PhonePe, etc.) click the notification and you will see the request for the deposit and an option to approve it
- Verify the deposit amount and other details and approve the transaction by entering your UPI Pin.
- The transaction is approved, you can now go back to the sportsbook website and you will see that the balance in your wallet is reflecting the amount that you deposited
Is it illegal to bet on cricket using UPI in India?
No, online betting is legal in India with the exception of a few states. However, you must be of legal gambling age (18 years or older) in order to indulge in real money, online sports betting.
There are no federal laws prohibiting online sports betting in India. UPI is only a payment instrument and whether you bet through UPI, or a credit card or a bank transfer really has zero implications on the legality. Using UPI is completely legal in India.
You must know that there has been no recorded case of any Indian being legally prosecuted for betting on sports online. Therefore, at this time, you can bet on your favorite IPL teams using UPI without worry.
Frequently Asked Questions About UPI Deposits & Withdrawals
Generally speaking, UPI is predominantly used within the Indian market. Since hundreds of millions of Indians already prefer UPI for all their online payments, online businesses will lose out if they don’t offer UPI as one of the supported payment systems. Therefore, any online sports betting website that caters to players from India will generally offer UPI for both deposits and withdrawals. The list includes some of the most illustrious sportsbooks such as Bet365 and Betway.
No, depositing with UPI and withdrawing with UPI is generally completely free at online sportsbooks. However, certain sports betting websites may charge an insignificant fee for deposits and withdrawals (this is not a fee imposed by the payment processor). If there is a fee involved, the sportsbook terms and conditions will elaborate on the same.
Yes, virtually every online sportsbook now offers a welcome bonus. However, in order to be eligible to receive the bonus, you must be newly signed up with the website and you must make sure to deposit the minimum amount that qualifies for the welcome bonus. There could be other terms and conditions that come into play.
