Paytm (which stands for “pay through mobile”) is a financial technology and e-commerce payment system company that is headquartered in Uttar Pradesh. This payment option is currently available in 11 Indian languages and offers online services such as bill payments, mobile recharges, in-store payments and as a deposit method at betting sites for cricket. In this review we will examine how to make deposits at the best Paytm betting sites.
Paytm was founded back in August of 2010 by Vijay Shekhar Sharma. With an initial investment of $2 million, it began as a DTH recharge and prepaid mobile platform before adding postpaid landline and mobile phone bill payments and data cards in 2013. In 2017, Paytm became the first payment app in India to have more than 100 million downloads. They are now valued at a staggering $10 billion.
In 2014, they launched their Paytm e-Wallet, which was originally only accepted by Uber and Indian Railways. However, it can now be used to pay for absolutely anything ranging from movie tickets to making deposits for online cricket betting.
Create an Account to Deposit at the Best Paytm Betting Sites
If you want to use Paytm as a payment option on betting sites, you will need to first open an account with them before you can start making Paytm deposits. It’s a rather simple process to open an account with Paytm and below we have given you a step-by-step guide on how to do it.
How to set up a Paytm Web account:
- Go to the Paytm website.
- Click the “Sign Up” button located in the top-right.
- Provide them with your mobile number, email address, and then crease a strong password.
- Select the “Create your Paytm Wallet”.
- Enter the one-time password that you are sent, your first and last name, and click “Create your Paytm Wallet”.
- You now have a new account to make Paytm deposits with.
How to set up a Paytm App account:
- Download the Paytm app to your mobile from the Apple Store or the Google Play Store.
- Once it has downloaded, launch it and click on the profile icon that can be found in the top right of the screen.
- Click on “Create a New Account”, and enter your mobile number, your email address, and create a strong password.
- You will then be sent a one-time password that you should now input.
- Click on “Submit” and provide them with your first and last name as well as your date of birth.
- Click on “Create Account”, and you now have an account for making Paytm deposits.
How to Add Money to Your Paytm e-Wallet
Once you have an account with Paytm, you will need to add money to it in order to start using it to deposit money at sports betting sites. So, how exactly do you go about doing this? Like we did above, we have outlined the process for you below:
- Go to the Paytm homepage and log into your account
- Click on the Paytm Wallet icon that can be found at the top right.
- Decide how much you want to deposit in your e-Wallet, enter it in the relevant box, and the click “Add Money”. You will be given the option of depositing money using a debit or credit card, UPI, Net Banking, or IMPS.
- You will be transferred to a secure payment page where you will be required to input your payment details. You have the option of saving your payment details so that you do not need to add all of the details every single time you go to make a deposit.
- Once you have added your payment details and submitted the transaction request, you will be taken back to Paytm and the money that you just deposited should be in your e-Wallet.
N.B. We should add here that the process above is the same if you are making use of the paytm app.
How to Make Deposits with Paytm
Once you have funded your Paytm account, the next thing you will obviously want to do is make use of that money. We are going to focus on how you can use it to fund your sportsbook account so you can start betting on cricket.
This is the simple process of making Paytm deposits:.
- Log into your sportsbook account and head on over to the payments option page.
- Go through the different payment options until you find Paytm deposits, and then click on it.
- Enter the cash value that you want to deposit, and finish your transaction by authenticating it via your wallet.
- As soon as the transaction has been completed, you will have the money deposited in your sportsbook account. This could take up to a couple of hours.
How to Verify Your Paytm Account
Before you will be able to make full use of your Paytm account, you will need to verify your mobile number and your email address. By completing the verification process, you will be opening yourself up to cashback and discounts. Also, Paytm will send you information related to your transactions via email and SMS, so it is vital that they make sure they have your correct email address and mobile number.
Verifying your Paytm account is a simple process, it is explained below:
- Log into your Paytm account, and click on “View Profile”, which can be found under your name at the top of the page.
- Under the “Personal Info” tab, you will see the word “Edit” – click on it.
- You will see your email address and in front of it there will be “Verify Now”. If you cannot see this, then it means that you have already verified your account. Click on it, and an email will be sent to your email address.
- Open your email account and open the link sent in the Paytm Verification email. Your address will now be verified.
- To verify your mobile number, click on “Verify Now” that can be found in front of your number on the same “Edit” page. Once again, if you do not see the “Verify Now” option, you have already verified your mobile.
- You will be sent a one-time password on your mobile, and you simply add it in the box. You have now verified your mobile number, and your Paytm account is completely verified.
Do Paytm Deposits charge Fees?
When you are deciding which is the best payment option for you to make betting deposits with, you need to consider the fees that are involved. So, if you decide to become a Paytm customer, what fees will you be subjected to?
You will be glad to find out that there are no fees to pay when you deposit money via Paytm at a sportsbook that accepts Paytm as a payment method. This means that if you deposit 5,000 Indian rupees this is the exact amount that will be withdrawn from your Paytm e-Wallet.
However, if you decide to use a credit card to top up your Paytm e-Wallet, there is a 2% fee that has to be paid. It used to be that a 2% fee was charged if users added more than 10,000 Indian rupees to their e-Wallet in a single month using a credit card, but this fee has now been added to any credit card deposit. The reason why this charge was put in place is because Paytm has to pay high charges when you add money to your e-Wallet via credit card. There is no fee applicable if you decide to deposit money in your e-Wallet using a debit card or any of the other accepted payment options.
What Are the Pros and Cons of Making a Paytm Deposit at a Betting Site?
|Advantages of depositing with Paytm at betting sites in India||Disadvantages of depositing with Paytm at betting sites in India|
|✅ Simple to use: Paytm is very simple to use to deposit funds at a bookmaker||❌ No live chat: Some people do not like speaking on the phone and a live chat options gives people the chance to get quick help without needing to speak on the phone|
|✅ Your transactions are recorded: Paytm provide all their customers with a detailed transaction record||❌ Can take a few hours for money to arrive: When you use Paytm, it can take a couple of hours before the money arrives in your sports betting site account.|
|✅ Secure: Paytm make use of 128-bit encryption technology to make sure all of their customers’ details are safe from criminals|
|✅ Widely accepted: Paytm is available at many sportsbooks that accept Indian sports betting fans|
Start depositing with Paytm for Cricket Betting
In our view, you should consider opening an account with Paytm for online gambling as it is a simple banking method to use to fund your sportsbook account. Apart from the simplicity, the great thing about this payment option is that there are no fees that you need to pay – unless you decide to use a credit card. Furthermore, you do not have to worry about your money as the security at the best paytm betting sites will protect that.
There is one thing that we probably would improve and that is the addition of a live chat option. However, please do let this put you off from opening an account with them.
Frequently Asked Question about PayTM Betting Sites
Is Depositing with Paytm Legal in India?
Paytm is a widely accepted and trusted payment method throughout India, so it is definitely legal to use.
What is the Minimum Paytm Deposit at Betting Sites?
This is something that will vary from bookie to bookie, but the minimum deposit that you will be allowed to make usually stands at around 500 Indian rupees.
Is Paytm Safe to Use for Online Gambling?
This is a question you should find the answer to before you make use of any payment option. Paytm is completely safe to use as they make use of some of the best encryption technology around at the moment.
Is There a Paytm Deposit Fee?
If you deposit money using a credit card, then there is a 2% fee that needs to be paid. However, if you use one of the other payment options such as a debit card or net banking, there are no fees that have to be paid.