Online gambling is a booming industry in India, despite the continued lack of clarity over the legality of various gaming and sports betting activities and of uniform rules and regulations across the country’s states and territories.
India’s predominantly young population, the nation’s love for cricket (and other sports) and for games that have elements of gambling, and the expansive penetration of mobile devices among users have kept the iGaming and wagering market abuzz.
As more and more casino and betting sites have been opening their lobbies to players from India over the past several years, the use of digital payment methods for deposits and withdrawals to and from such sites has also kept growing steadily.
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Paytm was one of the companies that first spotted the demand for fast and secure solutions in the country and built a successful digital wallet product that is now one of the biggest players in India’s payments market. It is also widely used by local players and bettors for both deposits and withdrawals from a growing number of online casinos and sportsbooks.
About This Method
Paytm’s parent organization, One97 Communications, was founded in 2010 by billionaire businessman Vijay Shekhar Sharma, who put at risk $2 million of his personal wealth to create what is now a payments giant and one of the nation’s most valuable startups.
Headquartered in Noida, Uttar Pradesh, the firm started off as a platform for prepaid mobile and DTH recharges, but quickly expanded its portfolio of services. Its products now span a wide range of areas and cover pretty much all types of payments that a consumer might wish to make, from paying utility bills, booking a flight, paying tuition fees, sending money to friends, grocery shopping, and buying gold online to making online casino deposits and withdrawing funds from a gaming or betting site.
As per Paytm’s site, it works with more than 7 million merchants which says a lot about its widespread availability and recognition as a trusted payments provider. What’s more, its app has more than 200 million downloads across both Apple’s App Store and Google Play and over 100 million active users in India, which too highlights the impact the company has on the local market.
For the purposes of this article, we will only focus on the provider’s eWallet service and how Indian casino players and bettors can use it to fund their online gambling accounts.
How to Open an Account with Paytm?
While this solution is mobile-focused, you can open an account via your PC or laptop if that’s the type of device you prefer using when making digital payments. As mentioned above, the eWallet’s app can be found both on the App Store and Google Play and can be downloaded for free. You should know that in-app purchases are available but opening an account with this solution is absolutely free.
Signing up with the app or via the service’s official website is pretty easy and involves completing the following steps:
- 1. Press Sign Up in the app or on the site
- Fill in your email address and phone number
- Enter your password
- Click on Create Your Wallet
- You’ll receive a six-digit OTP (one-time password) via SMS on your registered phone number and you’ll be prompted to enter it in the designated field
- You’ll then need to enter your full name and date of birth
- Press the Create Account button
- You are now ready to start using your account to fund your online casino wallet
Well, not exactly…
… because this solution requires all users to go through a verification process. While you can save this for later, we strongly advice that you complete verification upon opening your account so you can begin making casino deposits.
To verify your identity, you need to go to your Paytm profile and click Complete My KYC. You will be asked to present your Aadhar card, Voter ID, or PAN card to complete the verification process.
Loading Your Wallet
Adding money to your eWallet is even more hassle-free than opening an account. You can use your Visa/Mastercard credit/debit card or transfer money from your bank account.
It should also be noted that Paytm uses in-house technology that enables UPI transactions. Unified Payment Interface or UPI allows transfer of money from an account with an Indian bank that permits the use of a UPI facility to another bank or organization via a mobile app.
You can link your eWallet to an account with any bank that uses the UPI feature and directly load your online casino account. You will also be offered your own Paytm UPI ID and you can use it anytime you want to deposit money into a gaming site.
How to Fund Your Casino Account?
Once you’ve opened your Paytm account and you want to make a deposit, you should go to your casino’s Deposit or Cashier section and follow the instructions below:
- Fill the amount that you want to deposit
- From the payment options that you’ll be offered, select NetBanking since it is the UPI portal that handles Paytm payments
- You’ll be prompted to enter your online banking account
- You’ll then have to locate your UPI ID in the Paytm app and copy it
- Paste your UPI ID into the payment portal
- Confirm the payment
The service will register the payment instantly, which means that you’ll be able to start playing at the casino immediately.
This payment solution was designed to cater to Indian customers, and finding India-facing casino and betting sites offering it as an available option is not difficult at all.
Casino deposits via this eWallet are free, but different gaming sites have different minimum deposit limits. It is a good idea to check these limits before you open an account with one gaming site or another in a bid to find the one that best suits your bankroll and playing habits.
Another thing you shouldn’t worry about when you use this payment method is currency conversion. We are saying it once again, it is a product crafted for the Indian market, so all money transfers are done in Indian rupee. However, if the casino you’re playing at doesn’t support this currency, conversion rates set by your bank could apply.
How to Withdraw Money with This Solution?
Withdrawing funds from an online casino using Paytm can be a little bit more daunting than making a deposit. If you have loaded your gaming account via this payment solution, you will then need to stick to it when you cash out. This is actually a good thing. Withdrawals with this method are pretty fast.
To initiate a withdrawal, pick this eWallet as your preferred option from the casino’s Cashier page. Make sure to check the withdrawal limits. There will certainly be a minimum amount that you’ll be allowed to cash out. Limits vary from one casino to another.
There will also be a withdrawal fee that will too differ from one gambling site to another. Make sure to check your casino’s T&Cs section for proper information.
To make sure that your funds are safely dispatched to their rightful owner…
… the casino may ask you to verify your identity. You will have to provide documentation to prove that it is you who has requested the withdrawal. Cashouts via Paytm are usually very fast. You’ll receive your money within a 24-48-hour window. And this is pretty okay, especially compared to global payment methods servicing Indian players. You may wait between 5 and 7 days, or even longer, with the latter group of methods.
Is This Payment Solution Safe to Use?
Given that Paytm is a massive company, it certainly has the means to deploy tip-top technology, especially when it comes to security.
It uses SSL encryption and real-time monitoring to provide a smooth and private transaction process every time one is requested and to prevent sensitive data from being stolen and misused. In addition, the company operates under strict laws and regulations in India.
You should also stick to casinos that use the latest SSL encryption to make sure that your data is well-protected.
What about Customer Support?
Paytm has three 24/7 customer helpline numbers, each dedicated to certain specific queries and issues its customers might have. The company’s site says that while the numbers are available 24/7, its customer support representatives contact users daily between 10 am and 8 pm.
This basically means that if you have any issue with the app or the site, you will be able to reach out to its customer care team at any given time of the day. They will try to solve your issue on priority and will call you back between 10 am and 8 pm, if they need any additional information from you.
The payments firm’s site also has a pretty extensive FAQ section and you can check it out for any basic information that you might need.
Customer support is offered in English and Hindi.
Is This Method Available Outside India?
Paytm is an Indian company and caters almost exclusively to its domestic market. So, you won’t be able to use this eWallet for casino deposits and withdrawals or other types of money transfers if you are not a resident of India. But you can always check out our Deposits page for a solution that works best for you.
We said almost exclusively…
… because the company and its digital wallet solution is actually available in one more country. And that other country is Canada – another big online gambling market with somewhat fuzzy rules.
The payments giant first ventured into Canada in 2014 when it opened its Paytm Labs Inc. research and development division in Toronto. Its R&D arm was tasked with deploying bid data, artificial intelligence, and machine learning to its data assets to “provide optimal financial products” to its users and merchant partners back home in India.
The group launched its consumer-focused Paytm Canada app in 2017. It provided Canadian customers with a new platform to pay their bills and order different other types of transactions.
Final Thoughts
Paytm is a payment services company that has successfully navigated through one of the biggest and most challenging markets in the world and has built a great reputation cemented by multiple industry accolades.
Its eWallet solution boasts hundreds of millions of users and the fact that it is preferred by a large group of people is a great indication that it is secure and reliable.
For online casino players and bettors, this product offers fast and safe deposits and withdrawals with no additional fees and the opportunity to transfer money via a mobile device from wherever they are located at any given moment. In addition, transactions are done in Indian rupee, so no conversion rates will apply, unless the gaming or betting site doesn’t support this currency.
Finding a good payment method that works with a wide range of banks and gambling sites might be a tricky task. However, we believe that Paytm is a solution that should be considered by players and bettors looking for a quick and secure service.
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Helpful links:
Paytm Official Website
Paytm Twitter Profile
Paytm Facebook Page
Yes, opening an account with this eWallet is absolutely free. You will also not be charged fees for transactions done from one Paytm user to another.
This payment solution is designed to service customers from India and Indian rupee is the only currency that it supports. Of course, the Paytm Canada app launched several years ago supports Canadian dollar.
The app’s user interface is available in English as well as in regional languages such as Hindi, Gujarati, Telugu, Marathi, Bengali, Tamil, Kannada, Malayalam, Oriya, and Punjabi.
Yes, you can start playing at your India-facing online casino of choice as soon as the transaction is confirmed. No fees are charged for casino deposits via this solution.
Casino cashouts take between 24 and 48 hours. You should also be aware that withdrawal fees are charged and these vary from one casino to another.
