Unified Payment Interface or UPI in short is rapidly turning into one of the most popular payment methods in India. Today, consumers can make payments via UPI at their favourite retail shops, street vendors, and even online. A number of punters have started to deposit with UPI at Indian real money casinos and betting sites thanks to the extra convenience and the rest of the perks that this payment method comes with.
In these next few lines, you will find out exactly what is UPI, learn its brief history and how and why to use it, how to register for it, and what are UPI bonuses.
Best UPI Onlne Casinos & Betting Sites In India
What Is UPI?
UPI or Unified Payment Interface is a system that can efficiently power several different bank accounts into the same mobile app belonging to any of the involved banks. This means UPI can successfully merge a few important banking features, along with merchant payments and the seamless routing of one's funds at the same time.
UPI is also able to handle specific pre-scheduled peer-to-peer requests that can be paid at your own convenience.
Brief UPI History
On the 11th of April 2016, the National Payments Corporation of India has launched the pilot UPI program with 21 domestic banks as participants. The launch was coordinated by Dr. Raghuram G Rajan who is the Governor of the RBI in Mumbai. The participating banks began to upload their apps that would accept UPI in the Google Play Store starting with the 25th of April in the same year.
At the moment, UPI can be easily accessed by users and consumers alike using devices running on iOS 8.1 and above and Android 4.2.2 and above.
Why Is UPI So Popular In India?
UPI deposits in India, as well as UPI transactions in general, enjoy a high rate of popularity for a number of reasons, including:
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UPI allows its users to use just one mobile app to easily get access to all of their bank accounts
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bettors can enjoy instant money transfers via their smartphones on a 24-hour basis, all-year-round
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the app enables users to rely on an entirely seamless and reliable single click authentification procedure in just two steps
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there is no need to worry about having to type in your card information with any of the betting sites that accept UPI, as all the necessary data will be available automatically
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UPI payments are fast, cheap, and highly reliable, which means Indian sports betting aficionados can engage in safe and fun betting from the comfort of their home or on the go on their mobile devices
How To Use UPI At UPI Casinos Online And Sports Betting Sites
Whether you plan on joining some top sports betting sites that accept UPI in India or you wish to join a UPI casino online, you will need to follow a few simple steps for making deposits and withdrawals using this payment method.
Step #1: Download Your Own UPI Wallet
Provided you do not already have a UPI wallet, you will need to go through these brief instructions. If you are already the owner of such a wallet, skip this step.
Prior to getting started at any UPI sports betting venue in India, you will need to first download a UPI wallet straight to your mobile device connected to the Internet. UPI will simplify the process of completing money transfers between various bank accounts, wallets, and top casinos and betting sites in the country.
Some of the most popular UPI wallets you could choose from at the moment are, as follows: Google Pay, PhonePe, and Paytm. Download any of them from the Google Play Store or the App Store and proceed to correctly fill in the requested personal data.
Step #2: Create Your Own VPA
Next, create your VPA r virtual payment address that will enable you to easily transfer and receive your funds via UPI. Follow the simple instructions that will pop up on the screen and easily set up your VPA.
Step #3: Connect Your Bank Account To Your UPI Account
Connect your bank account to your chosen UPI wallet so you can easily send the money to your UPI wallet in an instant manner. To do this, type in the same phone number that you have used when registering your bank account. UPI will collect the necessary information and easily link to it.
Step #4: Choose Your Favourite UPI Sports Betting Site In India
While not all Indian casinos online for real money or sports betting sites accept UPI, those that do will allow you to make your deposits and collect a rewarding welcome bonus, as well as enjoy small cashout fees and other similar perks.
How to Claim An UPI Casino Bonus
Most casinos and sports betting sites that accept UPI will usually welcome newcomers registering their accounts with them with rewarding welcome bonuses for completing a UPI deposit. Once a UPI deposit will be completed, you will become automatically eligible for claiming a match deposit, no deposit, or free spins bonus.
Keep in mind that not all deposit options will allow you to claim a casino or sports betting deposit bonus. Usually, depositing using Skrill or Neteller may not always allow you to complete a deposit that will make you eligible for receiving a deposit bonus. Making a UPI deposit will turn you into the ideal candidate for receiving a generous deposit bonus, depending on the UPI casinos for real money sites you will join.
How to Cash Out Funds From UPI Sports Betting Sites
The withdrawal process is similarly simple to the depositing one. You will be usually asked to verify your identity, in case you have not done it already. Keep in mind that, at the moment, only bettors or players who have deposited using UPI will be allowed to cash out their money using the UPI method.
Advantages and Disadvantages Of Betting Sites That Accept UPI
The main advantages of using UPI casinos and sports betting sites online are the extremely low fees, instant transfer solutions, and the enhanced safety, given that UPI is regulated by the prestigious Reserve Bank of India.
The main drawback of using these venues is the lack of anonymity, given the fact that the payment system is highly regulated by the Indian government which is given nonstop insight into players' transactions.
UPI deposits in India at sports betting sites that accept UPI or top UPI casinos online powered by world-renowned providers are a good idea for a number of reasons. Now that you know them, go ahead and make your first deposit with UPI at India betting sites!
