PhonePe Casinos in India
PhonePe online casinos are popping up all over the Indian market, and yet many punters still don't know what they are. To understand the world of PhonePe deposit casinos, we first and foremost have to understand what PhonePe is.
PhonePe is a digital wallet and an online payment company with headquarters in Bangalore, India. It has been around since 2015 but has become available to wider audiences in 2016 thanks to the mobile app’s launch. It is based on the Unified Payments Interface (UPI) and features payment services, investing insurance, and several other services. Thanks to the license provided by the Reserve Bank of India, you can be sure that everything is legal while depositing at your favourite PhonePe online casino. Also, their mobile app is available in 11 Indian languages, which makes PhonePe incredibly user-friendly, and even players who are not so good at English or the most popular English languages can use it.
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How to Use PhonePe in Online Casinos
Online casinos accepting PhonePe are no longer a rarity, and it is only natural to wonder how to utilize this service for your own benefit. After all, we all want simple, straightforward, fast, secure, and most of all, legal and reliable payment methods at our service. To be sure, you know how to use PhonePe at popular real money casino India sites, we created a small guide.
How to Sign Up
Setting up your PhonePE account may vary, depending on the device you are using. Luckily, the basic steps are all the same, and you won’t have any difficulties even if you use all available platforms with a single account. PhonePe can be used on Android and Apple devices; make sure you download the appropriate app. Basically, the entire signup process looks pretty much like this:
- Download the app from the respective app store, compatible with your device, and install it.
- Verify the account and your phone number.
- Enter the details PhonePe is requesting in the online form. Make sure to choose a safe 4-digit password.
- Create the VPA. This step is essentially creating your user account. Once you have to make the payment, you won’t have to fill out all those forms; just enter your VPA.
- Select your bank from the list, and connect the bank account to the PhonePe account. Also, you can add more than a single bank account. In that case, make sure to choose one that will be the primary account (we suggest you use the one you use most frequently or the one you use exclusively for gambling).
- Set the PIN. This is the code you will use to approve transactions in the future.
The next step in playing at PhonePe casino sites is to make a deposit. After you complete the registration process (with both PhonePe and the casino), all you have to do is deposit money.
Open your playing account and find the Cashier. This is the section of your account dedicated to payments. Sometimes, it is also called Deposits, Payments, Financial, etc. Then, type the amount you want to deposit and choose UPI or PhonePe from the list of available methods. In most cases, you will be redirected to the PhonePE interface, where you have to authorize the transaction by entering the PIN code. Submit the deposit, and the money will be transferred to your PhonePe casino balance in no time.
Of course, depositing and playing are fun, but if there is one thing players adore is a fast and easy payout. Once you have some winnings on your balance, you will want to withdraw them, and this is how you do it!
Log in to your PhonePe gambling account, head over to the Cashier. Then, click the “Withdrawal” button or open a tab of the same name. Type in the amount you want to cash out. It can’t be bigger than your balance. The next step is to choose PhonePe from the available methods, and enter your VPA and request a payout. That’s it! Honestly, it doesn’t get any easier.
Before we tackle the minimum amount you can deposit, it is important to understand how the payment company and the casino company might have different ideas on a minimum transaction. And while the payment company will allow transfers of only a few cents, online casinos that accept PhonePe will usually ask for a minimum transfer of $5 or $10. But why is it so, and why can’t you deposit as little as possible.
Consider this: the payment company handles all types of transactions, millions and millions of them each day. The cost per transaction is much smaller than an online casino that handles ten times fewer deposits. Their minimum transfer is higher, so they can optimize their costs while still providing you with top-notch games.
Additional Fee and Withdrawal Time
All new casinos will give your withdrawal request a pending status that lasts for a day or two. This means the company gives you a chance to make up your mind before they set everything up for the payout. Then, after the processing is done, the money will be with you rather quickly. In most cases, the money will be with you within 24 hours – much faster than in the case of bank wire or credit card!
PhonePe doesn’t charge you any fees, but check out the casino’s policies to see how they handle transaction costs. Some might charge you a little bit of extra, while others won’t take a dime from you. We list all transactional costs in our reviews, so make sure to check them out.
Pros and Cons
Just like any other payment method, PhonePe has some good and some bad sides. And while the perception of a certain payment method highly depends on the user, some characteristics are still more than obvious. To help you decide if this is the right method for you, we shortlisted some pros and cons.
- Requires a bank account – PhonePe must be connected to your bank account, and there is no way to avoid this. This means all your transactions will be visible on your bank statement, something that punters frequently dislike.
- A limited number of casinos – PhonePe casinos are still not as popular as classic credit card casinos. To find the safest and most reliable betting sites, make sure to check our list.
PhonePe in India
It is estimated there are more than 218 million PhonePe users in India. In October 2020, they processed 835 million UPI transactions, translating into a market share of more than 40% of the total UPI transactions for the month. Impressive!
PhonePe also reports 100 million active monthly users responsible for more than 2.3 billion app sessions. It is one of the most popular payment methods among citizens living in Tier 2 cities and in Tier 2 cities that make more than 70% PhonePe transactions. This payment method is supported by 13 million merchants in 500 Indian cities, including the ever-growing number of online casinos.
PhonePe is surely attractive enough to sign up for, but it is not the only payment method around. Here is some decent replacement that also guarantees safe and seamless money transfers:
- Skrill – formerly known as MoneyBookers, Skrill is one of the oldest and most popular e-wallets on the market. They offer safe and fast transactions via mobile and desktop devices.
- Neteller – just like Skrill, Neteller is insanely popular with punters in India, and you can even order a special debit card to use on all ATMs in India.
- Astropay – Astropay vouchers are discreet, simple to use, and available all across India. Ideal for punters who don’t want any casinos on their bank statements. But Astropay is more than vouchers, and you can use it also as an e-wallet in Astropay accepted casinos!
- 1️⃣ Are there any PhonePe bonuses?
- As a payment company, PhonePe per se can’t offer you any special bonus deals, but you can always expect your favourite online casino will have an offer or two just for you. PhonePe is becoming increasingly popular, and more and more casinos with great bonuses offer are adding it to their list of payment methods.
- 2️⃣ Is PhonePe legal?
- PhonePe is completely legal. In fact, it is one of the most regulated and versatile online payment methods available to Indian punters. Thanks to the license provided by the National Bank of India, they can offer their services to Indian customers without any restrictions. Their license number is 75/2014, so you can check it for yourself if you like.
- 3️⃣ How much does it cost to deposit with PhonePe?
- PhonePe won’t charge you any fees, so deposits are absolutely free. Also, most online casinos won’t charge you a deposit fee either, and only some of them will charge you costs for handling withdrawals. All high-quality casinos have their fees publicly listed and have nothing to hide, so make sure to check them out before registering.
- 4️⃣ Can I use PhonePe on mobile?
- Of course, PhonePE is primarily created to be used on your phone via an app. It is supported by both Apple and Android phones.