UPI, or United Payments Interface, is a popular mode of financial transactions in India, thanks to the government's efforts of promoting digital modes of payments. But have you ever wondered if UPI can be used to make deposits on betting sites and if yes, What is the minimum deposit for betting sites with UPI?
We have the answers!
What is the minimum deposit for betting sites with UPI?
Yes, most well known betting sites do accept UPI as a way of depositing money, and the minimum amount is usually around ₹1,000 for most websites. However, the limits may differ from site to site, and it is best to check with the respective site before making any deposits.
Benefits of using UPI to make deposits
Deposits made using UPI are instant in most cases, meaning that they will be reflected in your gaming account as soon as you complete the transaction.
Deposits made using UPI are free and betting sites do not levy any service charge on them.
Transactions via UPI are absolutely safe and secure, as you need to enter your UPI id and verify the transaction.
Disadvantages of using UPI
As UPI is linked to your bank account and is regulated by the government and the RBI, they have an insight in to your betting activities and it cannot be kept discreet.
Most betting sites prefer to route withdrawals via the same method that was used to make the deposit. If you use UPI to make a deposit, and if it not available as a method of withdrawal, in most cases, the money will be transferred to your bank account, which will be reflected in your statements, and again, will not provide any anonymity.
UPI is a great way of depositing money to your betting account, as it is free and fast. However, these perks come at the cost of exposing your betting activities. What is the minimum deposit for betting sites with UPI? It is around INR 1000 in most cases.