IMPS Cricket Betting

Review

Review

Review

Review

Home » Banking » IMPS Cricket Betting

IMPS is a unique payment method in India, that allows Indian cricket betting lovers make instant payments at their favorite betting company. IMPS is a new form of mobile banking is slowly becoming one of the favorite payment option for Indian online cricket punters. Read more about IMPS and how you can use it at your favorite online cricket betting site in India.

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Online Cricket Betting in India with IMPS

As the name says, the Immediate Payment System is a service that will allow you to make instant payments across India. In a way, IMPS is a new form of mobile banking. The system is governed by the NPCI (National Payment Corporation of India).

In other words, IMPS is not a scam or fraud. On the contrary, this reliable system is one of the most popular banking methods in the Indian online betting community. The range of benefits offered by IMPS is extensive and generous.

On top of that, the best cricket betting sites in India all support this payment-processing system. So, let’s dive deeper and learn the secrets of this unusual banking method.

Why IMPS for Cricket Betting?

Online cricket betting is more accessible than ever. And, banking methods such as IMPS are doing a great job in facilitating the betting process. As a result, Indian bettors can place bets on cricket matches at the top Indian cricket betting sites.

What makes IMPS the Best Banking Method for Online Cricket Betting?

Even though IMPS is a relatively new phenomenon in India, the service has gathered a large following. And, the popularity of IMPS shows no signs of stopping. The number of users of this method is growing by the day.

Of course, this is no coincidence. People are turning towards IMPS for a reason. In fact, there are several notable reasons why IMPS could be your best option when it comes to cricket betting. Let’s take a closer look at some of them:

Innovative Mechanism

As we said, IMPS is a form of mobile banking. This means that you need to have a mobile number or an Aadhaar number to initiate a transaction. In short, IMPS is based on a revolutionary idea, and that is why this banking method stands out from the rest.

Anonymity and Privacy

One of the essential qualities of IMPS is the fact that the betting website does not need to know the number of your bank account to make a transaction. In other words, IMPS service does a great job of keeping you safe and far away from the eyes of the government. Even though online gambling in India is not illegal, the laws are unclear, so it’s best to fly under the radar. Mobile banking is perfect for such a mission.

Constant Availability

Believe it or not, the IMPS banking method works 24/7, all year round! Yes, you read that right. Even on weekends and bank holidays, the users of this service can make a transaction. How cool is that?! So, if a T20 match is coming up soon and you want to place a bet – IMPS is always on standby.

Speed

On top of all that, the IMPS system is lightning-fast. In other words, the service uses the so-called instant processing to check the nature of the transactions. Needless to say, immediate transfers are a dream come true for any true cricket betting enthusiast. If your rupees are available within seconds, you can maximize the potential of in-play betting and similar markets.

How to Set up an IMPS account for Online Cricket Betting?

To set up an IMPS account, you will need to obtain at least one of the following three things:

  • A valid bank account number
  • Aadhaar number
  • MMID number (Mobile Money Identifier)

In essence, any of these will work, which means that the IMPS account is super-easy to create. The first step is finding a suitable bank to file a request. Well, IMPS is a nationwide project, and more than 60 eminent Indian banks are members of the “alliance”. So, IMPS is compatible with ICICI Bank, Bank of India, Axis Bank, HSBC Bank, Central Bank of India, and so on.

After you create an account, you can use it to perform three different things:
  • Mobile banking
  • Web-based banking
  • Cash-out at an ATM

In the case of online cricket betting, Indian players will mostly rely on web-based banking. Either way, IMPS is effective and easy to use. The transactions are facilitated by the use of a mobile number, as we mentioned earlier.

But how do you make a deposit/withdrawal at an Indian cricket betting site with this banking method? Allow us to explain.

How to Place a Bet at an IMPS Cricket Betting Site?

Among other things, IMPS is cost-effective and time-saving. For that reason, more and more Indian punters are deciding to transfer their hard-earned rupees with this service. The process is simple and intuitive. Here is what you need to know before you fund your betting account.

Making Deposits

Even though the process of making a deposit with the use of a mobile number may seem unusual, the convenience of the process will turn you into a believer. IMPS is a banking method that does not set a lower limit for the deposits. When it comes to maximum amounts, Indian punters can deposit up to 2 lakhs.

When it comes to fees, the IMPS banking service does apply certain charges.

  • 2.5 INR (excl. GST) for deposits up to 10.000 INR
  • 5 INR (excl. GST) for deposits from 10.000 to 1.000.000 INR
  • 15 INR (excl. GST) for deposits from 1.000.000 to 2.000.000 INR

It goes without saying that the transfers are instant.

Making a Withdrawals

When asking for a withdrawal, the process may take up to 24 hours, depending on the website. Likewise, the total charge depends on the fees established by the bookmaker. Yet, the good thing about using the IMPS system is the lack of pesky conversion fees. In other words, this banking method lets you cash out INR without making a conversion from EUR or USD.

The process of cashing out is also easy and straightforward. All you need to do is find the Cashier section on the betting site. After that, enter the amount you wish to withdraw and select IMPS as the preferred banking method.

Can You Bet Online at an IMPS Cricket Betting App?

Since mobile betting in India is gaining traction, more and more websites are deciding to invest in the development of a mobile app. Not all websites have them, but we are getting there. Soon, the majority of betting activities will be performed from the palms of our hands.

Deep down, IMPS is a mobile-based system. So, it is easy to see that you can use this method on mobile devices. Yet, the process of betting through an app will depend on the bookmaker in question. If the website provides an app, Indian punters will easily find a way to connect their IMPS account to the betting account.

IMPS Customer Service

In essence, IMPS service relies heavily on phone networks. As a result, connectivity issues are the most common type of problems with IMPS. Luckily, these issues are often temporary and a little bit of patience can go a long way in these moments.

Yet, if the problem persists or you experience some other issue, you should first contact the betting website. The best online cricket sites in India provide top-notch customer support. As a rule of thumb, account holders can reach out to customer service through live chat, phone or email.

If the website is unable to solve the issue, you should contact the bank. The banks in India also offer a range of channels that you can use to contact the representatives.

History of the IMPS Banking Method

In November 2010, the Indian government launched a project named the Immediate Payment Service (IMPS). At first, four major Indian banks were participating in the alliance. Later on, the network was expanded to more than 60 banks and financial institutions in India.

IMPS is a payment-processing system that enables direct transfers with the use of a mobile number. As such, this system is a new phenomenon. What’s more, the government classified it as a national objective!

Even though it faces tough competition from NEFT and RTGS, the IMPS method manages to survive and thrive. As a matter of fact, recent stats show that IMPS facilitates as many as 200 million transactions per month. In other words, Indians transfer 20 billion dollars through IMPS every month!

Is IMPS a Reliable Banking Method for Online Cricket Betting in India?

From everything we mentioned here, it is easy to see that IMPS is one of the safest methods for online cricket betting in India. The system uses a series of anti-fraud measures to protect the transfers. On top of that, the IMPS banking method will protect your privacy and enable you to stay anonymous.

Few banking methods in India can provide the same level of benefits as IMPS. For that reason, punters who are willing to start their betting journey should consider using this payment system.

FAQ

All your questions about IMPS answered below.

Even though not all sites accept IMPS, the best online cricket betting sites are IMPS-compatible.

Yes, the IMPS banking method is designed with Internet banking in mind. In other words, you can use it to make deposits and withdrawals.

Yes, IMPS service is one of the safest banking options you will find in the cricket betting sites in India.

Online cricket betting sites come in all shapes and sizes. But when it comes to the Indian market, the best bookmakers would be 10Cric or Betway.

Even though IMPS does not require a bank account, you need to open up an IMPS account to initiate a transaction.

Withdrawals through IMPS are safe, fast, and easy to complete. Just enter the amount you wish to withdraw and choose IMPS as the direct banking method.

The legality of online gambling in India is still under discussion, but IMPS is one of the safest money-processing systems in the country.

Depending on the betting website, the fees can take a bite out of your bankroll. In most cases, the deposits are free of charge at the website, but IMPS could charge a small fee nonetheless.

Chaya
Chaya

Head of Content

The wordsmith of the group, Chaya is busy enjoying her newfound passion for online betting. When she’s happy, she would bet the ranch to plan and create killer content – the ones that urge you to place a bet. If things don’t go the way she wants them to, she would constantly act like the world is about to end. We love how she can never decide between Kohli and Dhoni.

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