People who are using smartphones are very much aware of Paytm. Paytm is already a highly demanded and incredibly popular wallet in India. Paytm is now used by supermarkets as a street vendor for excepting money using its wallet. With the growth of the betting market, many betting sites accept Paytm as a depositing method.
In the next segment, we will look forward to how the betting site with Paytm works.
Advantage of using Paytm
- Like any other UPI app, Paytm doesn’t charge any extra cost. It doesn’t have any additional or hidden charges also. Therefore adding money via Paytm on online betting sites is free.
- It is a payment method that is made in India India. So it is quite obvious that it will accept the Indian rupee for both deposit and withdrawal.
- Paytm is thoroughly regulated by the Reserve Bank of India. So it is a safe and secure platform for depositing and withdrawing money from your betting account.
Disadvantages of using Paytm
- One of the main disadvantages of using Paytm while withdrawing money is that the money gets credited into Paytm wallet. If you select Paytm as of withdrawal option the money you won while betting will be credited in the Paytm wallet rather than in your bank account. Paytm itself will charge 4% while transferring money from your wallet to your bank account.
- KYC is a must when transferring amounts of more than 10,000 rupees.
- To set up a Paytm account is much longer than other online payment methods as it requires authorized information while completing and making payment via a Paytm account.
How can you deposit money in a betting account with Paytm?
To earn real cash, a player has to deposit a certain amount in their betting account. To deposit money via Paytm in India required some simpler steps. All you have to setup up a Paytm account and then add money into your betting account.
Following are the steps to deposit money in the betting site via Paytm:
- Creating a Paytm wallet. The very first step is to install your Paytm app from the Google Play store. If you are already a member of Paytm then first you have to add money into your Paytm wallet. But if you are new to the Paytm application then first you have to create a Paytm wallet account. To start with you can register your phone number and set up a password.
- Adding money to Paytm wallet. The next step is to credit money into your Paytm wallet. Just click on the ‘Add money’ option in the Paytm application and choose the below payment method:
- BHIM UPI
- Net banking
- Credit card
- Debit card
- Bank account
- Once you successfully create your Paytm account and add balance to your Paytm wallet. The next thing is to sign up for the betting sites that accept Paytm as their deposit and withdrawal method. Here is the list of betting sites in India where you can use your Paytm wallet for adding money to their betting account:
Login using credentials and passwords to your favorite betting sites. Go to the ‘deposit’ option and select Paytm as an option to deposit money. By completing the process your money will instantly be credited to your betting account.