Paytm – A Guide

As India’s largest and best-known mobile payments processor, it’s no surprise that Paytm has been so widely adopted by betting sites and bookmakers in the country.

Approved by the Reserve Bank of India, bettors can use their Paytm wallet to deposit funds into their betting account, and you can then withdraw any winnings to your Paytm wallet.

The best betting sites in India are those that accept a wide range of different payment methods, but it’s always a bonus when you see Paytm listed as an option for deposits and withdrawals.

In this article, we’ll look at how you can use your Paytm money for sports betting in India.

What is Paytm and How Does it Work? 

Founded in 2009 by Vijay Shekhar Sharma, Paytm enables you to make two broad types of payment online and via your mobile devices: peer to peer and peer to merchant.

It’s the latter option that is of most interest to sports bettors, as it enables you to deposit funds into your betting account and also withdraw winnings.

One of the main advantages of using a mobile payment platform such as Paytm is that you don’t need to share your sensitive data such as bank details, or debit/credit card information, with a merchant. All you need is a funded Paytm wallet.

You can deposit into your betting account with a couple of taps on your screen, and these are carried out instantly, so you can place your bets on cricket and other sports straight away. Paytm also ensures some of the fastest withdrawal times in Indian sports betting.

How to Deposit Using Paytm

You will first need to fund your Paytm wallet, which you can do via the app or at Paytm.com.

Once you have money in your wallet, you can easily deposit this into your betting account. Head to the cashier section of your chosen betting site (usually found in the main menu or ‘my account’), and after clicking ‘deposit’, select Paytm as your chosen payment method.

You will be asked to enter your ID number (you can find this in your account via the Paytm app/website) and enter the amount you want to deposit. You will be asked to confirm the transaction on your Paytm app.

Once approved, your payment will be made almost instantly, so you can start to place your bets almost immediately.

This is just a guide, as the process at each cricket betting site may be slightly different. However, the steps above apply in most cases.

How to Withdraw Using Paytm

To make a withdrawal from your betting account into your Paytm wallet, simply reverse the steps detailed above.

Log into your bookmaker account, and head to the cashier/banking section. Choose the amount you wish to withdraw, and then select Paytm as your payment method. 

Enter your Paytm ID number on screen, before confirming the withdrawal. You will receive a notification from Paytm once you have received the funds into your wallet. It can take two to three working days for the transaction to be completed.

Again, the exact process will differ from one cricket betting site to the next, but these instructions can be used as a general guide.

Benefits of Using Paytm for Online Betting 

We’ve already mentioned one of the most important benefits of using Paytm, and that’s the extra security you get from not sharing your bank account or card details with an online betting site.

You can keep your funds safe, and with your unique Paytm login, you can make sure that your account is kept secure from hackers.

Paytm is available in 11 different Indian dialects, so you will feel comfortable using its website and app, and with rapid transactions, you will have your funds quicker than is the case with other payment methods.

If you want to wager on the morning of a test match, or there’s an IPL game coming up that you want to bet on, using Paytm will ensure that you have rupees in your betting account in plenty of time.

It’s easy to make deposits and withdrawals using Paytm, and with completely anonymous transactions, you can bet on cricket and other sports with complete confidence.

Just as importantly, there are no fees charged when using Paytm, which means that you don’t lose money when depositing into, or withdrawing from, your betting account.

Pros of Paytm for betting:

Potential Drawbacks of Using Paytm When Betting Online 

One of the most obvious drawbacks of using Paytm in your betting is that not all bookmakers accept it as a payment method. However, many Indian betting sites do.

It should also be noted that some payment methods are quicker when it comes to withdrawing funds, though the difference may only be by a few hours.

Some users also claim that the Paytm app can be slow at times, so you may need to see how it works on your smartphone or tablet first.

The cons of Paytm for betting:

• Not all betting sites accept it
• Not always the fastest for withdrawals
• Paytm app can be slow at busy times

Alternatives to Paytm for Cricket Betting 

If you find that your favorite cricket betting site doesn’t accept deposits/withdrawals via Paytm, you will need to use an alternative option.

There are many alternatives you can choose, but for sports betting, many people believe AstroPay to be one of the fastest, most reliable payment methods available. 

AstroPay is a prepaid card, so you can fund your betting account without having to share your bank account or credit card details with a betting site. It can be used for both deposits and withdrawals, and while the latter aren’t free (there’s typically a charge of 0.5%), your money will be with you within 48 hours in most cases.

Cricket bettors in India can also try NetBanking. This online payment method can be used for both deposits and withdrawals, and you can utilize a one-time use security code that keeps your transaction safe.

Our Honest Opinion About Paytm

As one of the leading payment platforms in India, it’s great when a betting site welcomes deposits and withdrawals via Paytm.

Transactions are fast, secure and free of charge, and your betting site will never appear on your statements thanks to Paytm’s anonymity.

For us, it’s so easy to use Paytm, and that’s why we think that it’s the ideal payment option for cricket bettors in India.