Revolut Bookmakers and Casinos

Update 14/04/20: Revolut stops accepting online gaming transactions

Following the Gambling Commission’s announcement that credit cards will not be used from the 14th of April 2020 onwards to make deposits and withdrawals to online casino and betting operators, the eBank Revolut has confirmed that this will include their pre-paid cards.

The new requirements mean that UK gambling companies cannot accept credit cards or payments made through a “money service business” such as Revolut.

It comes as a resulf of the UKGC’s review of online gambling earlier this year as well as the government’s own review into Gaming Machines and Social Responsibility Measures.

For easy and secure online gaming transactions we recommend PayPal.

About Revolut

Aiming for a revolution in how we understand and use currency, Revolut launched in the year 2015 in England and Wales and since then have managed to garner over 4 million customers with more than 350 million transactions completed globally so far.

Estimated at over 40 billion GBP in valuation, Revolut was welcomed with open arms by the global citizens who are always on the go, transact in multiple currencies regularly and want to transfer, convert and use cryptocurrency in a much easier way.

Revolut is backed by some of the UK’s top investors. Due to its reputation, it has earned support for a huge number of currencies and ease of use, Revolut has become a darling to gambling aficionados with more and more betting exchanges and sportsbooks adopting Revolut as a payment method with each passing day.

Revolut used in gambling and betting excels at the extremely fast and secure transaction, quality of service, easy registration and use, minuscule hidden fees and easy conversion between currencies. Today we take a detailed look at how Revolut operates, what are the pros and cons and whether Revolut is right for you.

Solution to Currency Conversion

If your favorite casino uses support GBP and you are using EURO or some other European currency, the traditional methods meant cumbersome currency conversion at deposit and withdrawal with the bank sometimes charging hefty fees.

Not to mention that the process could be time taking. But with Revolut’s support for 29 EEA currencies, you can load your card with EURO and use it at a casino supporting GBP and the conversion happens automatically, at no fees. Not only is fast and easy, but it is free as well!

Use Revolut as a Wallet

With Revolut’s support for cryptocurrency, you can necessarily use the powerful Revolut app as an e-wallet. Not only can you deposit money into casinos that support e-wallets, but you can also withdraw your rightful winnings right into the wallet and convert them into any currency you want.

Speed

Revolut payment processing is much faster than other traditional payment methods and in most cases amount gets withdrawn or deposited within a few minutes.

Limit

The Revolut card is a prepaid card that allows one to budget their spending on online gambling. Gambling can become an addiction and a built-in restriction imposed at the payment method itself can be very handy. The Revolut works wonders in terms of controlling and budgeting expenses and keeps a detailed track of all transactions via the app.

How Does Revolut Work?

Revolut is a new generation banking solution that lets you carry your currency in the form of a physical card, a virtual card, mobile app or via the official Revolut website. A Revolut account comes in two flavors, Personal and Business.

Registration

Registering on Revolut for your brand new account is extremely easy. It takes all of 5 minutes to provide your phone number and register. There is one caveat though. Currently, only consumers from the European Economic Area (EEA) are allowed to open an account with Revolut. But they mention that global expansion is in the cards.

Personal Account

A personal Revolut account comes in 3 variants namely Standard, Premium and Metal. Each has its own perks with the Standard version being the no-cost alternative for basic consumers.

Standard

The standard personal account comes at 0 GBP per month and some very useful features such as:

a)  A free current account valid in the UK.

b)  A free EBAN account that allows direct debit in EURO.

c)  Ability to transact in more than 150 currencies worldwide with only interbank fees applicable.

d)  Free ATM withdrawals using Revolut card up to 200 GBP each month.

With a standard account, users have to pay a fee in order to get a virtual disposable card or a physical card.

Premium

The premium account comes at a meagre 6.99 GBP per month. For people who travel moderately and use different currencies regularly, the premium is a great choice. It has all the facilities provided for the standard account along with:

a)  Free ATM withdrawal limit is higher at 400 GBP.

b)  Ability transacts cryptocurrencies with the limit being 5.

c)  Unlimited free of charge conversion for up to 29 FIAT currencies.

d)  Free disposable virtual cards.

e)  Free physical premium card.

f)   Exclusive customer support.

g)  Delayed flight, overseas medical insurance, and delayed baggage services.

Metal

With metal, the monthly fees are higher at 12.99 GBP per month but the features are better as well. With metal one gets all of the benefits of standard and premium plus:

a)  Concierge service while traveling.

b)  High priority customer support.

c)  1% cashback on all card payments outside Europe and 0.1% cashback on all card payments made within the EEA.

Business Account

The business account is available for both registered companies and freelance businesses. The company option comes with 3 account types, Start, Standard, and Professional while freelancer has only one option.

One of the primary benefits of Revolut lies in its app which seamlessly integrates with Apple pay and Google pay.

It has many features that allow bill payments via direct debit, complete tracking of account and expenditure, setting expense limits, budgeting, unlimited customer permission and so on. It also acts as an e-wallet for cryptocurrencies. The app is simple, robust, and easy to use and chock full of goodies.