Unified Payments Interface (UPI) is a real-time instant payment system that was created by the NPCI to facilitate bank transactions. In the following review, we will show you how to make a deposit using UPI and which are best betting sites for cricket in India that Accept UPI deposits.
What is UPI?
A UPI is a smartphone app that allows people to send money from one bank account to another. A UPI eliminates the need to always add your bank details or other important information whenever you want to initiate a transaction, which in your case will be at a UPI betting site whenever you want to deposit money for online cricket betting.
UPI was designed to enable inter-bank transfers courtesy of a single two-click authentication process. It is a safe and secure way to transfer money between two different parties and eliminates your need to transact through a bank or with physical money.
It is controlled by the Reserve Bank of India and instantly transfers money between bank accounts using a mobile platform. At the beginning of 2021, there were more than 200 banks available on UPI.
Depositing on UPI Betting Sites
UPI deposits require you to just set up a UPI ID that is linked to your bank account. You can set your UP ID up courtesy of apps that provide the UPI service. A UPI ID will start with your mobile number and will be followed by @ and the name of the app that you are using. For example, if you are using the BHIM app, then your BHIM UPI will be shown as [email protected] If you are using something other than the BHIM app, such as Paytm, your UPI ID will come up as [email protected] However, there is also the option of creating your own UPI ID should you so wish.
The setting up process is the same with every UPI wallet, with the first thing that you have to do being providing your mobile phone number. Once you have given the UPI wallet your number, an SMS shall be sent to receive your bank details. After this, you will be able to see your UPI-enabled bank account on your screen – you have to confirm that it is your bank account and then set up a 4-digit PIN.
We should note here that your UPI PIN will be the same for the particular bank will be the same regardless of the UPI wallet that you are using.
When it comes to sending and requesting money using a UPI wallet such as BHIM UPI or HDFC UPI, you do not have to remember your UPI ID. You can simply select the UP ID from your contact list whenever you want to make a UPI deposit to a betting site that accepts UPI in India.
UPI Deposit Services
You can make a UPI deposit or withdrawal in the following ways:
- Virtual Payment Address: Request or send money to/from bank account using a VPA.
- Mobile number: Request or send money to/from bank account using a mobile a mobile number.
- Account number: Send money to a bank account.
- Aadhaar: Send money to a bank account using Aadhaar number.
- QR Code: Send money via QR code which has an account number, VPA, mobile, or IFSC number enclosed.
Making Deposits and Withdrawals on UPI Betting Sites
Sending money via UPI India, whether you are sending a UPI deposit to a betting site or to some other type of merchant, is known as a “Push”. To make a UPI deposit, all you have to do is log into your UPI wallet, and click on the “Send Money” option. You then have to enter the virtual ID of the recipient and the amount you wish to send them. You then need to enter your PIN to confirm the transaction. So, as you can see, making UPI deposits with a UPI India is a relatively simple procedure.
UPI withdrawals from a betting site or from someone else, is known as a “Pull”. To get your money, you need to log into your BHIM UPI or HDFC UPI or whatever UPI India that you are using and click on the “Collect Money” option. You then need to enter the remitter’s virtual ID, the amount you want to collect, and the account the funds should be deposited in. If you want to collect winnings from UPI betting sites in India then the UPI betting site will be sent a message with your request for payment. If the UPI betting site accepts your request, they just have to enter their UPI PIN in order for the transaction to be authorised.
Once the transaction has been completed, both the recipient and the sender, in this case the UPI betting site, will receive a confirmation SMS.
Banks That Support UPI Payments Online
As we mentioned in the intro, there are now more than 200 banks throughout India that support UPI payments and UPI betting sites. As a result of this, there are many betting sites that accept UPI in India, which is why you should use UPI to deposit on betting sites. After all, why would you choose a payment method that is not widely accepted and have to spend a lot of time finding a site to accept your deposit, when you can sign up with a UPI app and have a wide variety of UPI betting sites to choose from.
In the table below, you will find some of the most popular banks in India that accept deposits using UPI.
|Bank||Compatible UPI App|
|ICICI Bank||Google Pay, WhatsApp Pay, BHIM app, iMobile, PhonePE|
|South Indian Bank||BHIM app, SIB M-Pay|
|Axis Bank||Amazon Pay, Axis Pay, BHIM app, Google Pay, CRED, Samsung Pay, WhatsApp Pay|
|Bank of Baroda||BHIM app, Baroda MPay|
|UCO Bank||BHIM app, UCO-UPI|
|Punjab National Bank||BHIM app, PNB UPI|
|Federal Bank||BHIM app, Lotza|
|United Bank of India||BHIM app, United UPI|
|State Bank of India||BHIM app, SBI Pay|
|Yes Bank||BHIM app, Yes Pay Wallet|
|Union Bank of India||BHIM app, Union Bank UPI|
|HDFC Bank||Google Pay, HDFC Mobile Banking, WhatsApp Pay, MobiKwik|
|Karnataka Bank||BHIM app, MahaUPI|
|Bank of Maharashtra||BHIM app, MahaUPi|
|Vijaya Bank||BHIM app, Vijaya UPI app|
|Jio Payments Bank||BHIM app, Jio Pay, WhatsApp Pay|
As you can see, there are plenty of banks throughout India that accept UPI deposits and it is clear that UPI payments can be made through several apps. Also, you can see that each bank that accepts UPI deposits has their own UPI platforms for Windows, iOS, and Android.
Please check with your bank to see what options are available to you to make a deposit with UPI on a betting site in India because it is not possible for us to list them all in this article. Whether you will be charged for making use of UPI in India will depend entirely on the bank that you are a customer of.
UPI Wallets are Not the Same as Digital Wallets
Many people think that UPI wallets and digital wallets are the same, but this could not be any further from the truth.
The differences are between the two types of wallets:
- A UPI transaction is a bank-to-bank transaction while digital wallets are intermediaries between two bank accounts.
- UPIs use virtual payment addresses, while a digital wallet uses mobile numbers.
- The transaction limit for UPI deposits is 1 lakh, while the transaction limit for digital wallets is 10,000 Indian rupees.
- UPIs allow for future transactions, while a digital wallet online allows for an instant transaction.
There are a wide variety of UPI wallets out there, but they have not all been created equally. Below we have listed a handful of the most popular ones that we recommend you take a close look at. There are plenty of sports betting sites that Indians can register with that accept UPI deposits from these UPI wallets.
Which are the Best UPI Betting Sites?
The UPI payment method is one of the most popular in India, and it is because of this popularity that there are many betting sites in India that accept UPI deposits as one of their payment options. This means that it is really easy and convenient for Indian cricket betting fans to deposit money in their sportsbook account anywhere and anytime. Not all betting sites in India that accept UPI deposits have been created equally, so we thought that we would provide you with a list of what we believe to be the best UPI betting sites for Indian sports betting fans.
- Betway India
- 22Bet India
- 888sport India
- 10Cric Review
- Funbet India
- Casumo India
- Royal Panda India
- Spin Sports
- Dafabet India
If you decide to open an account with one of the above Indian sportsbooks, we are certain that you will have the type of UPI betting experience that you are looking for.
What Are the Pros and Cons of Making a UPI Deposit at a Betting Site?
Before you decide to make UPI deposits on betting sites there are pros and cons that should be considered. While we recommend that you use the UPI payment method, the final decision lies in your hands. We are going to give you some of the main pros and cons of making UPI deposits. You can use these to decide if UPI deposits are the way forward for you.
|Advantages of depositing with UPI at betting sites in India||Disadvantages of depositing with UPI at betting sites in India|
|✅ You can directly send or receive cash from your bank account||❌ The money might not appear in your sportsbook account right away as it takes time to validate your payment|
|✅ You will not be subjected to any transaction fees when making a UPI deposit||❌ There are often extra steps involved to complete the transaction such as a KYC|
|✅ You can make transactions in Indian rupees|
|✅ It is a trusted and secure method of payment|
What is the Difference Between UPI Banking and Net Banking?
UPI and net banking are two common banking tools that you can use to perform a number of banking operations over the Internet. Some people believe that UPI and net banking are the same thing, but this is not the case.
The difference between UPI and net banking is that the former is most used to transfer money using one of the many mobile apps that offer this service. Net banking, on the other hand, provides fund transfer services alongside other banking options such as credit card applications, loan application, and creating a fixed deposit account.
UPI deposits and net banking are both instant payment methods, but they require different levels of input when it comes to creating a transaction. With net banking, the average number of touches that a customer needs to finish their transaction is 50, while it is just six to complete a transaction on a BHIM betting site or any other site that accepts UPI.
Additionally, you only need a Virtual Payment Address to complete a UPI transaction, while if you want to make a net banking transaction, you will need the bank account details of the beneficiary. Nowadays, more Indians are choosing UPI deposits over net banking due to how quick it is and the fact that the chance of a transaction error is a lot lower.
Start Depositing with UPI for Cricket Betting
We believe that a UPI deposit one of the best ways for Indian cricket betting fans to make deposits. They are very easy to set up and cheap to use – in fact, they are completely free to use. So, why would you pay money to make deposits using expensive e-Wallets from abroad, when you can make a UPI deposit for free? There also plenty of UPI wallets to choose from, so with a bit of research you will be able to find the best UPI for you.
Frequently Asked Questions about UPI Betting Sites
Is Depositing with UPI Legal in India?
Yes, making deposits at an online betting site with UPI is completely legal. Online betting in India, apart from a few states, is legal, so depositing money by UPI should not give you any legal issues.
Which Betting Sites Will Accept UPI Deposits?
Due to the increasing popularity of UPI deposits in India, more and more betting sites are accepting UPIs as a payment option. Some of the best UPI betting sites are 10Cric, Royal Panda, Dafabet, Betway, and 22Bet.
Can I Still Claim the Welcome Bonus with a UPI Deposit?
Yes, betting sites will not penalise you for making a deposit using a UPI. The size of the Welcome Bonus will vary, but it is often in the 5,000 – 10,000 Indian rupee range.
Is It Safe to Make a Deposit at Betting Sites Using UPI?
Yes, it is as safe as can be to deposit money at a betting site using UPI. UPIs are regulated and controlled by the Reserve Bank of India, so you can be certain your money is in good hands.
How Long does a UPI Deposit Take?
Usually, a UPI deposit is instant. However, when you are using UPI to deposit on a betting site, it might take a bit longer for your money to appear in your account.