UPI
One of the best payment methods on the rise in India is undoubtedly UPI (United Payments Interface). Due to its ease of use, speed, and security, UPI has quickly become a favourite among cricket bettors looking for ways to deposit funds in online betting platforms and withdraw any winnings.
We’ll show you why UPI on cricket betting sites has become so popular for Indian punters, the pros and cons, and how it works exactly. Read along!
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150% Up to ₹10,000Overview: What is UPI?
UPI is an online payment method created by the National Payments Corporation of India (NPCI) in 2016. It was devised to modernise digital payment systems in India, as UPI lets users transfer funds immediately between different banks or digital wallets. It is popular with bettors because it has real-time payments and works 24/7 (including holidays and weekends).
UPI has garnered such a following in India because the accessible interface and immediate transactions are perfect for Indians wishing to find a payment method for cricket betting, online gaming, and e-commerce. The fact that UPI can connect to any bank account makes it more convenient than typical wire transfers or credit/debit card payments.
Withdrawal and Deposit Fees
Although UPI deposits made on online betting sites are usually free, it’s wise to check the sportsbook’s own terms and conditions to ensure the deposit is without a fee. Most often, bettors won’t be concerned about extra costs when wagering on upcoming cricket matches.
Similar to deposits, most cricket betting sites that accept UPI offer free withdrawals. However, some can charge a minor fee for processing large transactions or withdrawals under a particular amount. The sportsbook will list the T&Cs for any deposit or withdrawal charges.
Speed
The major reason for UPI's popularity in India is its swiftness. The funds are transferred in real-time, which is especially useful for cricket bettors wishing to make a live bet or a spontaneous decision.
UPI betting site deposits are typically confirmed after a few seconds, and the funds can be used in your desired sportsbook in as little as a minute. The withdrawals are also very quick and often finalised after a few minutes. When you have online betting apps on your phone, it makes it more easy to link, bet, and withdraw.
Anonymity
UPI transactions will indeed be linked to your bank account, but they will not disclose personal data to the sportsbook.
Safety and Security
UPI has strong security and safety, and many players use it because of this. Several layers of encryption and two-factor authentication (fingerprint or PIN) safeguard any deposit or withdrawal. Moreover, the NPCI supervises UPI transactions to check for scams and frauds.
UPI Pros and Cons
- Fast transactions that allow for instant deposits or withdrawals.
- Low to no processing fee for deposits and withdrawals.
- Highly secured transactions due to RBI regulations.
- Hard to beat 2FA and cutting-edge encryption to ensure transactions and data are safe betting.
- Connectivity issues arise when the bank is facing any digital issues.
- Limit on daily transaction. Mostly up to ₹1,00,000, depending on the bank.
How to Deposit and Withdraw
Deposit with UPI
- Choose UPI as the default payment method on your desired cricket betting site
- Enter how much you’d like to deposit
- For security reasons, you’ll likely have to scan a QR code or enter your UPI ID number, which is linked to your bank account
- Authorise the payment via a UPI PIN
- The deposit will be instantly processed, and the funds transferred to the betting site
Withdraw with UPI
- Select UPI as your desired method for withdrawing funds from the betting site
- Enter how much you’d like to withdraw
- Confirm via a UPI ID where you’d like to accept the funds
- Approve the transaction using the UPI PIN
- Wait for the confirmation, which is usually a few minutes, but it’s not unheard of to wait some hours
Summary of UPI
UPI is a fantastic choice for Indian punters seeking a payment option for cricket betting. It’s a modern, safe, and simple payment type, and depositing or withdrawing funds is fast and easy.
The number of cricket betting sites that accept UPI is growing constantly. There are usually no fees, or at least low fees, real-time transactions, and cutting-edge security on all payments made.
FAQs
Is UPI secure to use for making cricket bets online?
UPI is very safe due to high encryption and 2FA.
Are there fees associated with UPI on betting sites?
The vast majority of sites will offer free deposits and withdrawals but a few can charge a small fee.
Are UPI deposits and withdrawals fast?
Thankfully, UPI transactions are instantaneous, so you’ll rarely have to wait longer than a few minutes to begin betting on cricket.
Do I need a bank account to use UPI?
Yes, you’ll need an Indian bank account to begin using UPI for betting online.
Joe is a massive sports fan, but he's most passionate about cricket, the NBA and the NFL. Joe is an expert sports contributor at OCBscores, and will provide you with only the best sports betting guides and tips to help maximise your betting potential.
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