Deposit with Paytm

How to Deposit money by Paytm to Indian Casino Sites

As one can guess, the name is an amalgamation of the words “Pay” and “ATM” because the word means anytime payments. The origin of Paytm is a small story that began some 10 years back in 2010 with the rise in demand for internet payment methods. Because the use of credit cards, debit cards, and other means was tedious and often failed, the company saw a market for faster and more secure payments. Thus, Paytm India introduced the concept of digital money wallets.

Quickly the company began operating millions of users and dozens of banks. The company received major investments from China, though Ant Financial, and started its operations. Being a major investor, Ant Financial is a major affiliate of Alibaba Group. They collaborated with India’s One97 Communications and laid down the foundation of Paytm. If you are unaware of this, Ant Financial is currently the world’s largest and highest-valued FinTech Company with a valuation of $150 billion.

With the rapid penetration of Chinese companies through Indian ventures, the company was able to aggressively invest millions in ads, campaigns, and gained a foothold in the country. Now, 10 years later almost all e-commerce and small shops and stores use Paytm as their payment gateway.

Paytm has become a de facto standard for betting sites in India that allow users to deposit money using Paytm and allow withdrawals as well. In this article, we shall focus on how to open accounts and make deposits using Paytm.

Open a Paytm Account for Online Betting

In order to deposit into your online betting site’s account, you must know that you need a Paytm account first. If you already have one, then making a deposit to open a betting account at your favourite site e.g. 1XBet is very simple and straightforward.

  • First, go to the site and click on the login button. Or, sign up to the new betting site. This will require some personal details and then if you are a lucky new customer you can avail of some promotional offer. At this time, 1XBet is giving a 100% additional bonus on the first deposit.
  • So, the next thing you must do is go to the “Payment Method” section of the site. Usually, there is a separate “Make Deposit” link at the top of the menu bar on the site’s web page. Click on it and then you shall get a list of payment options. Because you wish to use Paytm, you must select this from the drop-down list.
  • Now, for using Paytm for making a deposit, you need the Paytm number of the betting site. Or, the betting site can redirect you to enter the Paytm details to make a payment. This can be completed on the betting site, or optionally redirected to Paytm’s site for logging in.
  • Once, you do this step, you shall receive an OTP for confirmation. This step is optional if you are using the Paytm App. Else, you just confirm the transaction because the amount to be paid is already submitted. That is it.

Once the transaction is complete, the money you deposited shows in your betting site’s personal account under balance. Now, you can go ahead and place bets and wagers on your favourite casinos and games.

So, to open a new Paytm Account, you can take any of the three steps below.

  1. Go to the online website of Paytm.
  2. Download the Paytm app from PlayStore.
  3. Download the Paytm app from AppStore.

Install Paytm using .apk file for other Android phones (optional).

In all of the above options, creating a Paytm Account is critical because without that you cannot deposit money or make any transaction. In fact, depositing money begins with making an account. So, if you want to know about how to deposit money in Paytm, first open a Paytm account.

Using Web to Open Paytm Account

  • First visit to the official website of Paytm i.e. Paytm.com, the official site for the digital wallet.
  • Then, click on the “/Sign Up or Log In” option on the webpage, you will find that in the top right corner.
  • After that, click on “Sign Up or Register” because you do not have an account yet.
  • Then, enter the mobile number registered in your name because this is your identification.
  • You must also enter your password, and email address as additional details.
  • Finally, go to “Create your Paytm Wallet” because this starts the process.
  • Because of additional security, you shall receive an OTP on the mobile number you’ve submitted above. Enter this OTP; enter details like First and Last Name.

The process of creating an account on Paytm means that your details are now with the company. The company now allows you to use this account to send money to the company, which now acts like a bank. And, then instead of using your bank’s card to make payments and transfers, you can use Paytm. Because others also use this service, as the middleman, there is a consistency among the others. This consistency allows for compatibility between banks, payment methods used by others, and so on. Paytm, therefore, helps make transactions faster, simpler, and easier.

If you have a phone number, then with Paytm India you can make a money transfer in India. It is as easy as it can get.

In a similar manner, you can also take the app route because having a smartphone app has some benefits over using the browser and the web app.

Using App to Open Paytm Account

In case of using an app, first, download and install the app from App Store if you use an Apple device or from Play Store if you are using an Android device.

  • First, start by launching the Paytm app.
  • Then, tap on the Profile icon at the top-right corner of the screen.
  • Next, tap on the “Create a New Account” button because it will guide you through the steps just like above in the web app case.
  • After this, enter the same details like email address, mobile number, and finally a preferred password.
  • Now, tap on “Create a New Account” once again.
  • Then, you shall receive an OTP on your mobile number that you just submitted. Enter this OTP to complete the registration.

Indian Betting Sites for Paytm Wallet Payments

You can use the Paytm Wallet for transactions, transfers, and all activities on any betting website in India. If a betting site supports Paytm Betting, then you can use the Paytm Wallet. You do not need to register additionally for Paytm Payments Bank because that is an additional optional service, not a mandatory step.

There are a series of online betting sites in India that support direct payments through Paytm Wallet. Below is a list of the most popular and highly reviewed betting sites that currently are offering promotions for new customers.

  1. 1XBet
  2. MelBet
  3. BetWinner
  4. 10Cric

Because more and more sites are upgrading and expanding their support for Indian digital payment gateways, keep checking for the latest updates.

Benefits of Using Paytm for Online Betting

Making a deposit in a betting site in India via Paytm requires a balance in Paytm Wallet. Paytm India stress on this single factor. We shall mostly focus on Paytm Wallet, and making a deposit here.

To mention, betting sites do not require you to make a deposit in their account in India. If you are using Paytm Betting, you can directly use the Paytm Wallet for making payments during the bets. There are several betting sites that accept payments through Paytm. It may also come with offers for new customers such as 100% cashback, and so on.

  • When you choose to deposit money using Paytm on a betting site, it is incredibly convenient. It’s available for all Indians to use regardless of their location.
  • Paytm is accessible to all regardless of having a bank account because of which you can use it internationally as well. 
  • Paytm can be used for making any type of payment instantly. It means you can make very small payments as well, or make a big purchase online.

We take a look at the pros and cons in the below section for details.

Pros

  • Users don’t need to worry about additional fees when making a deposit.
  • Betters can deposit and withdraw money in Indian currency, INR.
  • Paytm India offers secure and safe payments because it is strictly regulated by the Reserve Bank of India.
  • Because of Paytm Wallet, instant payments are straightforward, and failure in transactions is minimum or completely zero.
  • Players can withdraw directly to their Paytm Wallet, or to the bank account using a separate payment method because of which it is so flexible.

Cons

  • But, if you use Paytm to withdraw money to your local bank account, it takes some fees. It is quite steep at 4% of the money.
  • The account setup process is simple but the verification process for large payments needs KYC. This can take a little time.

How to Deposit Money in Paytm?

Making a deposit is similar to adding money to the wallet. If you want to make a deposit on a betting site such as BetWinner then you have to top it up by adding some balance. Because these wallets don’t link to bank accounts directly and do not give credit, but only make sending and receiving money easier. For example, where you had to type in your card number, wait for OTP, etc. here, you just have to enter the mobile number, and you are done.

Step-by-Step Guide

So, adding money to the wallet can be done via the web app, Paytm’s website, or through the app. Just follow the below steps.

  • First, log into your account using the mobile number and password that you had used in the steps above during opening the new account.
  • Then, click on Paytm Wallet, which is always there on the top-right corner of the page.
  • Then, you shall enter the amount in INR that you wish to deposit or add to the wallet. TO do this, click on “Add Money”.
  • You may choose to add money through any means such as Credit Card or Debit Card. Unfortunately, Paytm Wallet does not allow adding money via cash deposits at banks.
  • There is also an additional option of Net Banking and UPI, which is a new concept. But, it works for all.
  • Finally, you can see the secure payment page when you need to provide the above details.

So, as opposed to entering the credit card details each time you make any small transaction, Paytm simplifies the process by acting as local storage of money. Then, when betting you can use Paytm to deposit the money, and it will straight go to the vendor. It takes a fraction of a second to make a transaction as opposed to minutes. Because of which it is much safer and convenient. 

Thus, depending on your purchase style, you can add money to your Paytm Wallet once a month or so, and use it everywhere. Fortunately Paytm is available across India making it suitable as a payment method for online betting sites in India. Because of this accessibility, Paytm is a popular digital wallet service in the country. 

Summary

Online betting using Paytm is a one-shot way to start betting because dozens of popular betting sites support it in the Indian market. Because of this extensive support and network of Paytm users, millions can use this platform anywhere online. The app allows easy integration into their websites and follows the same safety and security standards, authentication processes that come standard with Paytm gateway. 

Because of a major investment from Chinese firms, it is expanding rapidly and betting sites like 1XBet, BetWinner can make use of these benefits. This means, your money is safe and you are in good company. This ensures great customer care and support for the mitigation of issues.