Betting with PhonePe India

PhonePe is a popular mobile payment application, with millions of Indians using it daily. Established in 2016 by PhonePe Private Limited, previously known as FxMartPvt Limited. It is a payment method based on UPI and is licensed by the Reserve Bank of India. The PhonePe app is one of the most used mobile systems in India, with over 280 million users.

Are PhonePe betting sites a good choice for Indian bettors? Zero fees, easy transactions, local currency and availability in 11 local Indian languages make it one of the best choices for any Indian player. Read on, and you will have the opportunity to get an insight about :

  • An up-to-date list of PhonePe betting sites in India
  • The reason why it is safe and an excellent choice for you
  • Information about how to deposit and withdraw when using PhonePe

How To Find The Top PhonePe Betting App

Our listed bookmakers have been tested and tried by a significant number of players. We have chosen the best ones in terms of reliability, zero fees and eligibility for a welcome bonus. Choose your favourite PhonePe betting app to make the most of your betting activity.

✔️ Remember that you can also use PhonePe for transactions in the majority of UPI betting sites.

Why and how to use PhonePe in India

BMB_Question MarkPhonePe is a popular payment method to bet on Indian betting sites. At the same time, there are no fees when you deposit to your bookmaker, and you can proceed with any transaction in your local currency. Also, you can deposit funds to your betting account using only your phone. It is secure and reliable since the Reserve Bank of India regulates it.

Moreover, if you would like to use UPI as your payment method, PhonePe betting sites allow you to proceed through it. Furthermore, if there are any blocked transactions, the amount is refunded to your PhonePe account within 48 hours. Another advantage is that almost every site that accepts this payment method offers a welcome bonus.

How to create a PhonePe account in India has a straightforward answer. Before you try betting with PhonePe, you need to install the PhonePe app. You can proceed through the App Store or Google Play Store, depending on your device (Android or iOS).

Also, you have the choice to visit PhonePe’s official website to download the app. Adding a bank account is also essential. The registration process includes the following steps:

  • 1
    Verify your mobile phone number: You have to connect your mobile number with the PhonePe app. The number you provide needs to be linked to your bank account that you will use to fund the PhonePe Wallet. The app will send you a One-Time-Password (OTP)  to your mobile number. Use it to verify your number and complete the verification.
  • 2
    Fill in your Personal Details: It requires basic information such as your full name and email address. After verifying your phone number is complete, PhonePe redirects you to a page where you need to fill in your details and generate a 4-digit password. After entering these details, you have to accept the Terms & Conditions and click on the ‘Activate Account’ option.
  • 3
    Create a VPA (Virtual Payment Address): Now, you will create your new Virtual Payment Address (VPA). It will act as the username for your new PhonePe account. This allows you to send and receive money without entering the account number.
  • 4
    Linking Bank Account: After the VPA is created, you need to connect the bank you will use to make transactions. PhonePe automatically asks for your bank details when you choose a bank by using your verified phone number. Confirm these details, and your account is now active.

To proceed with any transaction, you’ll need to provide your BHIM UPI PIN. If you already have one, your account is ready. If not, you need to choose the ‘BHIM UPI PIN’ option mentioned under the account details.

To create the BHIM UPI PIN, you need to enter the last 6 digits of your Debit card, mention the ‘Expiration Date,’ and the OTP sent by the bank for verification. There is a unique UPI PIN for every bank. You will need this PIN whenever betting with PhonePe.

Is PhonePe safe in India?

BMB_Approve_HandBetting with PhonePe is a safe option for an Indian player.  PhonePe Private Limited owns it and operates under the license provided by the Reserve Bank of India. It is a plus that the transactions go through a secure and safe banking network. Also, when you open a PhonePe account, you need your UPI PIN as an extra step to proceed with any transaction.

Is betting with PhonePe legal in India?

BMB_LegalEven though the gambling legislation in India is a mix of federal and local laws, there are no restrictions when you bet with PhonePe. It is legal to use it on Indian local betting sites. RBI (Reserve Bank of India) authorizes the PhonePe payment system. Also, it uses the UPI interface to secure money transfers.

How To Deposit On Betting Sites With PhonePe

Once you have downloaded the app and set up the account, funding your PhonePe sportsbook account is fast and easy.

  • 1
    Log in to your sportsbook account and choose ‘Deposit'.
  • 2
    A new window will open. You have to select PhonePe as your payment deposit method.
  • 3
    After you choose it, you will have to select the amount you want to deposit and fill in your details.

Some Indian betting sites have fixed amounts and allow you to choose the amount that you want. Also, there might be a transfer limit, but this depends on the bookmaker. It is also possible that you find some betting sites with no minimum deposit.

Next, you will be redirected to PhonePe. Log in to your account and make the payment. Use your UPI PIN to complete the transaction, and the money will reflect in your account.

Can I withdraw with PhonePe?

BMB_Money_ProfitPhonePe betting sites allow you to proceed with a payout since you have made a deposit the same way. It will be mandatory to complete a verification procedure (KYC) when you make your first withdrawal.

Since you log in to your bookmaker’s account, you have to choose it as a withdrawal method and type the amount you want to withdraw. Typically, it will take up to 24 hours for your withdrawal to be completed.

PhonePe compared to other methods

BMB_AlternativesEven though PhonePe is a good choice for an Indian player, it is always good to have an alternative when you gamble. You can look at how it matches up to other payment options in India.

PhonePe vs Wallets

Wallets are one of the most popular payment methods for making payments at online betting sites. The main advantage of them is that you can proceed with transactions under the government radar when, at the same time, that doesn’t apply for transactions with PhonePe.

Even though most bookies accept transactions via wallets, you are not always eligible for a welcome bonus. On the other hand, most PhonePe betting sites offer it.

Also Read: Is Skrill legal in India for betting purposes?

PhonePe vs Paytm

There are not many differences between these two wallets since both are created exclusively for the Indian market. Paytm is one of the biggest wallets in India, with over 350 million users. Talking about their apps, Paytm gives you more options to deposit to it than the PhonePe app does.

However, when withdrawing money from the Paytm app to a personal bank account, fees are unusually high, up to 4%, while at the same time at PhonePe, you are able to transfer your balance to your bank account with a 0% charge.

Nevertheless, if you are convinced that it is a legit alternative to Phonepe, you can always check here which betting sites accept Paytm.

PhonePe vs Netbanking/Online Bank Transfer

Despite the fact that there are betting sites in India that accept online bank deposits, depositing this way may not be so easy. Most of the banks in India will probably block your transaction since the gambling legislation in the country is still unclear.

There is a federal law regarding gambling, but local law in some states is sometimes above the federal law. On the other hand, betting with PhonePe is totally legal.

Final word on PhonePe India by Book Spy

BMB_Book SpyPhonePe is a popular mobile app in India for deposit and withdraw payments on betting sites. Players can bet using it in the local currency, and it is available in more than 11 Indian languages. Moreover, low fees and the availability to take a welcome bonus for most bookies are significant advantages.

Although, like every payment method out there, it has some drawbacks. Some deposits can take up to 3 hours to be processed. Also, the withdrawal procedure may take up to 3 days in some cases.

In conclusion, PhonePe betting sites could be a prevalent option for recreational players who seek a way to bet on their favourite cricket games, providing safety and eligibility for any kind of promotion. If this is the case, you can check if PhonePe is available on our approved IPL betting sites.

However, since the Reserve Bank of India regulates it, other wallets like Skrill or Neteller may be a better option for high-stakes players looking for under-the-radar betting.

Complete list of bookmakers with PhonePe India

Easy transactions, INR availability and zero fees when gambling with PhonePe are excellent features. Feel free to check the complete list of PhonePe deposit betting sites that accept Indian bettors.

Q: What is PhonePe?

PhonePe is a safe mobile money payment application available for all Indians. Zero deposit fees, easy transactions, local currency and availability in 11 local Indian languages are the main advantages.

Q: Is PhonePe legal?

The legislation in India is complicated with federal and local laws that apply to online betting. With the license provided by the Reserve Bank of India, betting with PhonePe is legal.

Q: Are there any fees?

There are no deposit fees when using this payment service at PhonePe betting sites. Also, there are no fees when you transfer your money from your wallet to your bank account.

Q: Which is the best alternative for PhonePe betting in India?

Based on our review so far, PhonePe is a pretty decent option if you are a casual player who wants to deposit and play on-the-go. However, high rollers look for something more under-the-radar; in this case, wallets like EcoPayz India provide a legit choice.

Q: Do I get a welcome bonus on PhonePe betting sites?

The answer is yes. Most of the PhonePe bookmakers in India that accept it as a payment method provide a welcome bonus and eligibility for any other promotion.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from regarding betting promotions, betting guides and news.

Is Neteller Legal In India Featured Image

Neteller is one of the most famous global payment services and is accepted by almost every betting site in India. It offers numerous benefits to any g...

Read more »

Best WebMoney Betting Sites Featured Image

WebMoney is a Russian company that belongs to WM Transfer Ltd. and was established in 1998. An online payment method that operates in over 40 countrie...

Read more »

USD Coin Betting Sites Featured Image

USD Coin (USDC) is a stablecoin crypto whose value is pegged to the US Dollar. That means that it will always be worth 1 dollar. A much welcome option...

Read more »

Best M-Pesa Betting Sites Featured Image

If you are a Kenyan bettor, you have probably already used or at least heard of M-Pesa. As it has grown significantly in the last few years, almost ev...

Read more »

Best Monero Betting Sites Featured Image

One of the most groundbreaking coins is Monero (XMR), which also happens to be one of the most exciting options for gambling due to its focus on priva...

Read more »

Best Interac Bookmakers Featured Image

Interac is one of Canada’s top online payment methods and it’s been around for 37 years. The company was founded in 1984 as Interac Association ...

Read more »

Best Cheque and Money Order Sportsbooks Featured Image

One of the safest ways to deposit on your favourite sportsbooks is through checks and through money order. Cheque sportsbooks allow you to top your ac...

Read more »

Best Przelewy24 Betting Sites Featured Image

Operating under the umbrella of DialCom24 Group, Przelewy24, which was launched in 2005 in Poznan, deserves to be considered Poland’s most popular onl...

Read more »

UnionPay Betting Sites Featured Image

Online betting has grown by leaps and bounds in Asia in the last few years and China is the epicenter of that trend. As the country’s primary debit/cr...

Read more »

Best Giropay Betting Sites Featured Image

Giropay is a German payment method that was founded in 2006. The headquarters are in Frankfurt, Hessen, Germany and the company has over 45 million cu...

Read more »

bookmaker banner
bookmaker banner