If you are looking at payment options for funding your online activity, then you’ll be interested in this review of Revolut betting sites. As with everything you’ll read on this site, you’ll be getting an insightful and objective view.
There have been many changes in recent years regarding the use of some payment methods for gambling in the UK. For that reason, in this article, we’ll clear up any of that confusion, and tell you everything you need to know about using Revolut at gambling sites, and how it compares to the alternatives you might have also considered.
Revolut can be used for more than gambling, so as a multi-purpose payment method, it attracts customers from everywhere. If you wish to join them and make a payment at an online casino or bookies using this method yourself, you’ll need to open an account first.
On arrival on the site, the first thing you’ll be asked to do when you hit the Sign Up button in the top right-hand corner is to download the app. You are asked to enter your mobile number, and you are then sent a text with a link to download the app. Alternatively, you can access the app from the usual sources like Google play, where it is highly rated at 4.7 stars.
After setting up a 4-digit PIN, you’ll then have to submit your personal details, and then you can begin to use your Revolut account. This is essentially an eWallet as many people would understand it, and as such, you can fund it from various sources, as you might with PayPal or Skrill. You will, depending on the type of account you open, also receive a debit card that works in the same way as a prepaid debit card. This makes it a very versatile payment method and this is much of the reason behind its success.
This versatility is a huge benefit when it comes to using this method for paying in the vast majority of locations, but it also means that it can cause issues when you try to use it in other places, as we will explain shortly. Before you can do any of this, however, you will need to verify your account.
This is done in the same way that you validate any new financial account, using the appropriate ID which we will detail a little later on. Once this process is complete, your new Revolut account is ready to go. There are no charges for using your Revolut card or wallet, although using the ATM facility more than the agreed number of times each month can incur a 2% surcharge. Aside from that, it is accepted in a great many locations.
However, there will be a limited number of operators where you will be able to make deposits and withdrawals as there was a change to legislation in 2020 that meant you could not find a gambling account using a credit card.
As a result of this, because you could potentially fund your Revolut account using a credit card, many operators exclude Revolut from their list of online betting payment methods they offer to customers, and this could ultimately mean that you would have to choose a different operator or look for betting sites that accept Revolut elsewhere on this site.
However, where they are accepted, you should follow the same process as you would with a debit card, entering the card number and expiry date, along with the CVV.
As you now realise, Revolut gambling transactions are not as common as you would expect, but here is a short breakdown of how they would work where they are still accepted:
Firstly, it is important to remember that Revolut betting sites and Revolut casino sites will all have their own rules for taking payments and making withdrawals, so you should check the terms and conditions there before opening an account.
However, in general terms, any debit card deposit should be more or less instantaneous as it would be at a Skrill bookmakers, and anything longer than an hour would certainly constitute an excessive waiting time, and at this point, you should get in touch with the customer support team at the operator in question.
As you probably know, making a withdrawal will typically take longer than a deposit, as there are other checks that the operator needs to ensure have taken place before they can process your withdrawal.
This is typically the same KYC procedure that you will have carried out to open your Revolut account, so you will need to present that same ID again. You will also need to make sure you have met any of the wagering requirements connected with any bonus you have received from the operator before you can withdraw funds.
After this has been completed, unlike Neteller betting sites, where the funds should be in your account in an hour or so, if you are withdrawing to a Revolut debit card the timescale will be much greater and can be up to 5 working days in some places. As mentioned above, check the site T&Cs to make sure this is the case, and if there is any sort of delay beyond this point, then you should get hold of customer support via live chat, email, or phone.
This was touched on briefly earlier on, but now it is time to look at this important part of the process in greater detail.You can’t do anything with your Revolut account until this part is successfully completed, so you need to make sure you get it right.
Account verification is a similar process as you might see elsewhere, in line with the KYC (know your customer) legislation that governs so many financial transactions in the UK. For that reason, you should have scanned or photographed images of your ID like a driving license, passport, and birth certificate ready to upload on request.
When preparing your documentation, you need to make sure you are getting the whole document in the picture, and in the case of something like your driving license, take your photo in a brightly lit area so you don’t have to use the flash on your phone’s camera. This will stop your image from having a glare on it and being rejected. You should allow 24 hours for this process to take place, although it should happen a lot faster if there are no issues.
An important part of looking at which betting sites accept Revolut is the history of the company itself, but before we look at that any further, we should point out that Revolut is a completely legitimate payment method, and the only reason it is not accepted at so many UK bookies and casinos, is the one we pointed out earlier, where a Revolut account could potentially be funded by a credit card.
Obviously, if there were any problems that needed highlighting, they would be noted here or in our operator reviews which test payment methods as part of the in-depth process.
Revolut’s story began in 2015 when founders Nikolay Storonsky and Vlad Yatsenko set up this financial technology (fintech) company in Canary Wharf, London. As of the spring of 2022, they have nearly 20 million customers worldwide who make more than 150 million transactions each month. This journey was not entirely straightforward, however, and not without controversy
They secured further funding in 2018 and also secured a European bank license shortly afterwards, and started offering commission-free stock trading the following summer.By the end of 2019, they had secured a deal with Visa, as well as making key appointments within the business from established financial companies, adding experience to their undoubted ambition.
The beginning of 2020 saw them take the position of the UK’s most valuable fintech startup and began to expand worldwide before securing a UK bank license, with that expansion continuing until the present day.
As Mentioned above, this progress has encountered some bumps in the road. In 2019 the chief financial officer quit among allegations of compliance issues, yet this has never been confirmed. In addition, they received a backlash from customers who had fallen victim to the Revolut algorithm that is supposed to detect money laundering, and blocked a number of accounts without warning.Finally, as mentioned above, in 2020 UK legislation changed and Revolut were removed from the list of payment options for many operators in the UK.
Of course, as we pointed out earlier Resolut is not the only payment method accepted at various credit card betting sites, or any other type of gambling operator. If you were wondering how Revolut measures up to the competition, here it is stood toe to toe with three obvious alternatives:
Bank transfers are easy and convenient, and you will almost certainly have a bank account already so you won’t have to do all the admin associated with opening up an account at a third-party service provider like Revolut.
However, transfers to any online gambling account will show up on your bank statement, which is not ideal for a lot of people, who like to keep their leisure activities private. Of course, you can fund your Revolut account from your bank account if you wish, keeping your details private, and giving you that extra layer of security should a data breach occur at the operator.
As we have pointed out already in this look at Revolut gambling sites, this payment method, and Skrill have a lot in common. They can both be funded from a number of sources, and also provide an extra layer of security in case of a leak at the operator. You might even think that Skrill has the edge here as it is accepted at a greater number of online bookmakers and casinos than Revolut
Where Revolut gains back a lot of that ground though, is with the additional services it offers customers who use it as a payment method, like savings and investments. In addition, the debit card probably makes Revolut the better option.
Mastercard is a mainstay for payments around the world, with the number of Mastercard betting sites increasing each year. However, like online banking, despite having many security measures in place to stop fraud, any activity at online casinos or bookmakers will show up on your statements. This is often frowned upon by other financial institutions when applying for things like mortgages and loans. Due to its nature, it is also easy to overspend using this method, which might not be ideal.
There are no such problems with Revolut as it acts as an eWallet or prepaid debit card, and as such you are limited to the amount of money that you have loaded into it. This can make budgeting for your online wagering activity easier, especially if you are somebody for whom staying in control is very important.
When it comes to using Revolut on gambling sites, the first and most important fact is that it is not available at many UK operators, and then only when the balance on your Resolut card has not been funded by a credit card. This can make finding the right operator a time-consuming process without using the online resources on this site to make the task easier.
However, where they are accepted and that qualification is met, it can be used for both deposits and withdrawals, meaning that you don’t have to spend time registering separate methods for each process, which is not always popular with operators. Once set up, you can make these transactions within the same timeframe as you would typically experience with a debit card.
Because of this, it is unlikely to be excluded from any bonus offer restrictions that sometimes affect many of the eWallet options. However, you should also note that bonus offers tend to vary depending on where you go, so check the terms and conditions of the offer before signing up to make sure you won’t miss out.
As you have seen in this review of Revolut betting sites and casinos, Revolut is not accepted by many of the operators in the UK.
However, looking at the history of Revolut, this situation might evolve further, and while the majority of sites that use Revolut might currently be outside the UK, that could change in the future. So, to ensure you don’t miss out on any updates to the situation, check back here regularly and look elsewhere on this site for alternatives to use in the meantime.
Finding the best of anything is always hard, as different people will have different takes on what makes one thing better than another. This is often made even harder when it comes to online gambling, as your money is also at stake if you make the wrong decision. To get the information you can trust to help you make the best decision possible, check out our Revolut gambling sites review.
Before opening a new account anywhere you are placing your own money, you should know everything you need to do so you know what to expect, and are not hit with any delays or your account application is declined. To see what you need to do to open a Resolut account, read our Revolut gambling sites review.
All financial accounts will need you to provide some ID to prove you are who you say you are, and so nobody else can open an account in your name. However, doing this can cause delays in getting started, so read our guide to Revolut gambling sites to make sure you can have everything you need ready to keep delays to a minimum.
Skrill is a major player in the online payments world, but like everything, it has its good points and its bad points. By checking out our review of Revolut gambling sites, you’ll see how Revolut measures up to Skrill as well as a couple of other alternatives that you can use to fund an online casino or bookmakers account.
Revolut is a versatile payment and withdrawal method that is becoming more widely used each year. If you are considering opening an account, to use for online gambling activity, check out our guide to Revolut gambling sites which will tell you everything you need to know including if there are fees involved.
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