Paytm Gambling
Google blamed Paytm for violating its Play Store policies and was quick to create a general impression that Paytm is promoting ‘sports gambling’ through its app and thus, it should be removed as it is against Indian laws and Google’s policies. Sep 18, 2020 Google Playstore has pulled down Paytm and Paytm First Games for alleged violation of gambling policies. CNBC-TV18 has learnt that Google had notified Paytm developers a few days back on this issue and is in constant touch with them regarding the digital wallet and e-commerce app.
Paytm is a hugely popular brand in India. It has grown from just a payment service into a commercial giant offering ticketing, rail and flight bookings, a gaming platform and a credit card with Citibank. With such a loyal customer base, just about all betting sites that accept Indian rupees (INR) offer Paytm.
Gamblers in India have begun to see the value of using Bitcoin in recent months. This has especially been the case over recent weeks, due to the Paytm scandal involving Google.
This has led to even more gamblers losing faith in traditional payment methods and looking for Bitcoin casinos in India that give them a different option. In order to fully understand the situation let’s take a closer look at what happened with Paytm and why the move towards Bitcoin is happening.
What was the Paytm scandal about?
In September, people looking for the Paytm app in India were shocked to discover that it had disappeared from Google Play. The app was returned to Google Play within a matter of hours but the scandal over its removal continues.
Google has since stated that the Paytm app was temporarily suspended because the company offered stickers to users who made payments or transferred money using the account. These stickers could then be used to get cashback. Google said that this violated the Play Stores’ policies on gambling. However, it has to be said that Google Pay is in direct competition with Paytm in the Indian payment market and some critics have hinted that this was a factor in what happened.
Why events like the Paytm scandal are leading to gamblers using Bitcoin
Even though the Paytm app is now available in the Play Store, the event has increased gamblers’ frustration with traditional payment methods. They are looking to Bitcoin as a viable alternative.
Recently, Bitcoin has become more widely accepted in many online casinos. This has happened as casino brands have seen retailers increase their use of cryptocurrencies and have seen the value of becoming involved.
From a gambler’s point of view, there are several advantages to be had from using Bitcoin.
Speed of transactions
Anyone who is depositing or withdrawing funds at an online casino wants the process to be fast. This is not a problem with Bitcoin transactions which can normally be completed in a day or two. Often the process is even faster than this.
Security of transactions
Speed is not the only concern when it comes to banking options at an online casino. Security also needs to be taken into account. Bitcoin transactions make use of blockchain technology which has become well-known for its high level of security. This means that people who want to gamble online can do so without fear of compromising their personal or financial data.
Anonymity
In the case of most payment methods, personal identifiers are used. This includes details such as account details, name, address, and email address. This is not the case with Bitcoin payments; a wallet id is used and nothing else.
It’s clear that gamblers can get several benefits from using Bitcoin at an online casino. They are also being tempted to opt for different payment options, such as Bitcoin, following events like the Paytm scandal. This means that the future of Bitcoin in online gambling in India, and globally, seems to be bright.
Heralded as India’s answer to PayPal, Paytm is the perfect payment method if you live in India – especially if you want to bet online. Paytm is India’s largest mobile payments group, offering a secure e-wallet that has been trusted since launching back in 2010.
Read on to discover the best betting sites that accept Paytm. We will even walk you through how to join and use Paytm, which is the preferred payment option for 350 million customers.
Our expert guide to Paytm betting sites will show you:
Terms & Conditions: T&Cs Apply. Full terms apply.
How We Compare Paytm Betting Sites
The best Paytm betting sites only make our list after a strict vetting process. At SBO.net, we have assembled an experienced review team that has worked in the sports betting industry for many years. Each member of our team understands what fellow punters seek when betting online.
Paytm Gambling Money
We investigate everything from the security and trustworthiness of a site to the customer service and how competitive its odds are across all sports.
Studying our recommendations will save you hours of research. You will quickly find a new Paytm betting site, where you can claim a generous welcome bonus and know that you’ll be safe.
Some of the many factors we consider before approving Paytm betting sites are:
Paytm Gambling Issue
Security Measures
We insist on each site we recommend holding an operating licence with a regulatory body like the UK Gambling Commission (UKGC). For Paytm betting sites to obtain a licence, they must have strict processes in place to prove they are safe and secure. Regular audits ensure player funds and data are protected at all times, and that everything is above board.
Welcome Bonuses
With so much competition, Paytm betting sites make a lot of effort to attract and reward new customers. Their first opportunity to do this is with a generous welcome bonus. When you sign up to one of our recommended sites, you will receive what we consider to be a generous welcome bonus – whether it be in the form of a match bonus or a free bet.
Competitive Odds
You want to sign up to a site that offers competitive odds on the markets you love, such as cricket and football. Rest assured that our recommended Paytm betting sites boast the best odds. Therefore, you will receive the maximum return when you place a winning bet. Don’t be that person who wins a bet at odds of 1.74 when 3.2 was available elsewhere!
Which Betting Sites Accept Paytm?
Paytm is a hugely popular brand in India. It has grown from just a payment service into a commercial giant offering ticketing, rail and flight bookings, a gaming platform and a credit card with Citibank. With such a loyal customer base, just about all betting sites that accept Indian rupees (INR) offer Paytm.
However, you shouldn’t risk joining an inferior site. Remember that we list only the best Paytm betting sites on this page. We do this so that you can sign up with confidence, knowing your favourite payment method will be one of many options listed in the cashier.
Another advantage of Paytm is that you can quickly transfer funds between different sports betting accounts. This saves you from having to register multiple banking options at every site you join – and is also means that your bank only sees transactions to and from Paytm, not betting sites.
How to Create a Paytm Account
The Paytm account creation process is simple. Simply visit the official Paytm website and get started by clicking on the sign up button. Paytm also has a cool mobile app. You can download it and use it to create your account, too. Click on the profile icon in the top right corner of the screen and follow the simple on-screen instructions.
You will be asked for your mobile number and email address, and you will also need to enter a secure password at this stage. Then click on ‘Create Your Paytm Wallet’ and add a one-time password, enter your full name and click ‘Create your Paytm Wallet’ again. Job done!
After creating a Paytm account, the next step is adding funds to your new e-wallet. When using a web browser, log in to your account and click on the Paytm Wallet icon. Enter the amount you wish to add and select the payment method from credit/debit card, Net Banking or UPI.
The process is almost identical using the app. Both options allow you to save your credit or debit card details, saving you time when you wish to make a fresh deposit.
How to Bet Using Paytm
All Paytm betting sites require you to make a deposit before you can start betting on all the sporting action. Presuming you have funds in your e-wallet, simply navigate to the cashier and select Paytm as your preferred payment method.
Now enter the amount you would like to deposit and confirm the figure is correct. You will then be redirected to the Paytm site to complete the transaction.
The payment will be made into your betting account almost instantly. Fast payment processing like this is essential if you spot a good betting opportunity and need access to funds immediately. Imagine you are watching a cricket match live on television and want to jump on an in-play bet. With Paytm, you can do so in the blink of an eye.
If all goes well and you make a nice profit, you can easily withdraw your winnings back to your Paytm e-wallet. Withdrawals are instant, once your betting site has processed the transaction. Processing times vary from one site to the next. Some are almost instant; others take a few working days.
Advantages and Disadvantages of Paytm Betting
PROS
- Trusted brand – The most significant advantage of using Paytm betting sites is that the payment gateway is so widely recognised and used by people living in and from India. Users have the reassurance of making payments to and from a giant Indian company
- Privacy – Another benefit is that when you return your winnings from your e-wallet back to your bank account, there is no mention of gambling activity; it is just a payment from Paytm, which helps protect your privacy.
- Zero fees – Transfers to and from your betting accounts and Paytm do not attract any fees.
CONS
- Limited to India – One disadvantage of Paytm is that it is only open to Indian punters. Other citizens will need to look elsewhere for a reliable payment gateway. Plus, the app can sometimes appear clunky as you have so many service options. When it’s working well, however, it is one of the best.
Alternatives to Online Betting With Paytm
Although it is a favourite for many, we understand that using Paytm betting sites may not be ideal for you. Thankfully, you have plenty of other secure options available to fund your betting accounts.
Credit and debit cards – Safety and convenience make credit and debit cards popular amongst punters. Transactions sometimes attract small fees (especially credit cards), but you can easily withdraw any gambling winnings to the same source. Debit cards are also a sound option if you need to move funds fast.
E-wallets – Although they are similar to use, you might prefer an alternative e-wallet provider. Despite being hugely popular elsewhere in the world, PayPal is only just now gaining ground in India. Skrill is perhaps a better-known option.
Paysafecard – Paysafecard is prepaid card that can be used to fund your online betting account. The bad news here is that you cannot withdraw any winnings via Paysafecard, so you would need to make alternative arrangements in this case.
Paytm Betting FAQs
Do online betting sites accept Paytm?
Yes! If a betting site accepts the Indian rupee, it is likely to offer Paytm as a payment method – although this will be only available to Indian citizens. Paytm betting sites are happy to list the e-wallet in the cashier because the processing of deposit and withdrawal requests are fast and straightforward.
Can Paytm only be used by Indian punters?
Yes, Paytm is regulated by the Government of India and can only be used by an Indian citizen, either living locally or residing abroad. The official Paytm website is available in 11 Indian languages and finely tuned for the Indian market, which is why it has become a preferred option locally.
Are there any Paytm fees?
Transferring funds from your Paytm e-wallet to a merchant is free and fast. However, there will be fees to pay should you wish to move funds from your e-wallet back to your bank account. Funding your Paytm account comes with a 2% Visa or Mastercard credit card fee, or a 1.25% fee for the equivalent debit cards.
How long does it take when withdrawing using Paytm?
E-wallets like Paytm are often the best way to withdraw cash from your online betting account because they are faster to process. In most cases, funds will be available in your wallet within 24 hours, sometimes only a few hours. In contrast, debit or credit card withdrawals might take between 48-72 hours, making Paytm betting sites a very attractive option.