Gambling has its root in India right from the ancient times even before it is believed to be now. The ancient forms of gambling involved some games related to chess and played with the dice.
In the current situation, when gambling in public places and owning a gambling house in India is illegal, there are certain bookmakers that provide Indians with the online betting apps.
The usage of online betting apps in India is seen to be increasing each year and contributing to the online betting market. This has major success due to many parameters and one of the important factors in it is the enhancement of the technologies in payments like UPI methods.
The Origins of UPI
The UPI system was launched in 2016 before demonitisation and is now one of the easiest and trusted payment methods for Indians. In October 2019, it recorded one billion transactions in a month.
According to the NPCI, in 2020 UPI faced exponential growth and it became a major giant in the world of digital payments.
How UPI Enables Indians to Bet Online
India is a cash-dependent country and online payments and net banking were largely unimaginable and not-so-trusted a few years ago.
But UPI quickly became so popular that Indians started trusting and using it at even grocery stores and payments to street vendors. This also changed the online betting industry as more and more betting apps started to support the payments through UPI.
Almost all the bookmakers available in India accept deposits and withdrawals through the UPI systems. This has made it very easy for the Indian punters to make UPI enabled deposits in the betting apps in India.
UPI is a trusted payment source regulated by the Reserve Bank of India. The UPI method does not charge any extra charges to make deposits and you can directly send or receive money from your bank account.
Betting apps supporting UPI have been specially designed keeping Indian bettors in mind.
The bettor can create their own profile on the site with preferred wagering activity or add their bookmaker as favorite on the automatic withdrawal options.
The transfers through UPI take just a few seconds and are highly secure and credible than other payment methods.
The safety measures such as SSL certificate verification ensures that your information is safe from third-party attacks and breaches. This UPI payment option also ensures that the betting app adheres to data protection laws and regulations.
The Future of UPI in Online Betting
UPI will likely continue to dominate the digital payments space in the online betting industry.
Payments through UPI on betting apps will keep up the trends as the UPI technology is very easy-to-use and reliable for the Indian players.
Indian players have a whole new world of exciting online betting experience on the way ahead with safe UPI transactions.