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How To Use IMPS At Betting Sites?

IMPS betting sitesIMPS or Immediate Payment Service is one of the most popular inter-bank electronic fund transfer systems in India. It is one of the three inter-bank fund transfer systems in India with the other two being NEFT (National Electronic Fund Transfer) and RTGS (Real Time Gross Settlement). This payment service has been developed and managed by National Payments Corporation of India and allows users to make digital transactions directly to and from their bank accounts. While there are certain restrictions on the maximum/minimum deposit and withdrawal amount and also small transaction charges, IMPS is still one of the most popular fund payment methods for Indian bettors.

Do Betting Sites In India Accept IMPS/Net-Banking?

Net Banking is one of the most widely used money transfer methods in India and it is among the oldest digital payment methods used on betting sites. IMPS payment system has taken this popularity to the next level due to the convenience it offers. Betting sites in India were quick to pick on this as India has low penetration of Credit Cards and e-Wallets compared to developed markets. Top betting sites in India allow bettors to use IMPS/Net Banking and the numbers have been growing in recent years.

Which Betting Sites Accept IMPS/Net-Banking?

With IMPS and Net Banking being widely used digital fund transfer methods in India leading bookmakers in India allow users to deposit and withdraw using this method. Here is the list of major betting sites accepting IMPS/Net Banking at the moment –

We expect to soon see other betting sites also add this as one of their payment methods and we shall update this list as and when other bookmakers add this as a payment option.

How to Deposit At Betting Site Using IMPS/Net Banking?

Making deposits using on your bookmaker’s site is very easy. You need to have a Bank Account that is Net-Banking enabled and generate your MMID Number (Mobile Money Identifier Number). Some banks also insist or Aadhaar Number, the national 12-digit unique identity number. It is important to note that there is some limitation in terms of the amount of money that you’d be able to transfer using the IMPS method and for large amounts you may need to opt for NEFT. Follow the steps mentioned below to make a deposit to your bookmakers’ account using IMPS/Net-Banking.

Steps for depositing money at betting sites using IMPS/Net Banking

  1. Log into your account on the bookmaker’s site or app and go to the deposits page
  2. Choose IMPS/Net-Banking from the list of deposit options and choose your Bank
  3. Fill in your login id or Mobile Money Identifier Number details and password when promoted for and set the amount you wish to deposit
  4. Depending on your bank you may need to provide an additional transaction password or mPIN for the transaction
  5. Next you will receive a OTP (one-time password) which you need to fill in and authenticate the transaction

How to Withdraw From a Betting Site Using IMPS/Net Banking?

One of the biggest benefits of using IMPS/Net-Banking as your preferred money transfer methods is that you can use it for withdrawals as well. Withdrawing money is as easy but in certain cases you will need to wait anywhere between 24 to 72 hours for the money to be deposited into your back account. Here’s a step wise guide to withdrawing money using IMPS/Net-Banking

Steps for withdrawing money at betting sites using IMPS/Net-Banking

  1. Log into your account on the bookmaker’s site or app and go to the withdrawal page
  2. Choose IMPS/Net-Banking from the list of withdrawal options
  3. Enter your MMID Number or fill in the details of your Bank Account including IFSC Code
  4. Next you need to fill in the amount you wish to deposit or the maximum withdrawal amount as set by your bookmaker/bank
  5. In the next step click/tap on the ‘Withdraw/Transfer’ button
  6. Finally you will need to authenticate the transaction using your mPIN/OTP and the money would be transferred to your bank account.

Is IMPS/Net-Banking Safe Payment Method for Betting Sites

Apart from the convenience of letting you deposit and withdraw from your own bank account IMPS/Net-Banking is also preferred for the safety it offers. There is a two-step authentication process involved in every deposit with a One Time Password being sent to the mobile number registered with the bank. All the payment information is stored on secured servers owned by the National Payments Corporation of India which is offers peace of mind to the bettors.

What Are The Advantages Of IMPS/Net-Banking For Depositing At Betting Sites?

IMPS/Net-Banking is a widely accepted money transfer platform in India and millions of Indians trust it for transferring their money. The trust comes from the fact that this payment system is backed by the government. While it lacks the glossy UI features as seen in several of the eWallets it does offer several benefits to the bettors. These include –

  • Fast and convenient
  • No need for preloading wallet
  • Real-time transfers to/from bank account
  • Ability to use multiple bank accounts
  • High security and strict privacy policy
  • Two step authentication for increased safety

Summary

To sum up, IMPS/Net-Banking has been a preferred money transfer option on Indian betting sites. Being an early mover it has gained depth in the market. Top betting sites in India accept it as a deposit and withdrawal method and we hope to see more betting sites add it to their list in the coming days.

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