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Revolut – Should You Use It As A Casino Banking Option?

Since its inception in 2015, the digital bank Revolut has seen its market share grow at an enormous pace. Apart from offering a number of debit cards for all sorts of daily uses, it also caters for online casino gamblers. What makes the platform stand out from the crowd is that it has embraced different strategies in order to mitigate gamblers falling into the problems of gambling addiction and overspending. Though it's not a registered UK bank, it functions like any other online eWallet.

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The Pros and Cons of Betting with Revolut

Online casinos are on a never-ending search for new players. Out of the many tools they can utilise to help them, they have made the payment options as varied and practical as possible. So it’s no surprise to see some online casinos offering Revolut as a means of funding your online casino account. Whether you play roulette, jackpot poker or craps, you need an efficient, fast and cheap payment option. With that in mind, let’s have a look at the pros and cons of utilising Revolut for online betting.

What is Revolut?

When you open a Revolut account, you’ll receive an electronic wallet with a personal ID number. Being a digital bank, they also offer you a payment card. In the UK, Revolut was first launched in 2015 and gives its customers a prepaid bank card that is directly attached to their account. Furthermore, this card is available in one of 31 different currencies. Revolut bills itself as a one-stop financial resource, but it’s important to keep in mind that they are not a registered bank in the UK. Nevertheless, if you are going to be spending money at an online casino, it’s a great platform to help you.

It’s no surprise that the card has proved so popular with international travellers thanks to its multi-currency options. This means that anyone is able to make instant transfers seamlessly. Even better, currencies can be exchanged within the app itself meaning that the overall process becomes very affordable. When it comes to transferring funds directly to your bank account, the whole process takes but a few minutes.

The Types Of Revolut Cards

Revolut offers its customers four types of cards. Which one you receive is dependent on the type of account you have. With that in mind, let’s have a look at each one along with the fees.

Free Account: This comes with a standard plastic card and carries no fees.
Plus Account: The Revolut Plus Card. (£2.99 per month).
Premium Account: The Premium Revolut Card. (£6.99 monthly).
Metal Account: The Revolut Metal Card. (£12.99 per month).

Depending on where the customer is living, each of these cards will carry either a Visa or MasterCard, though you don’t have the option to choose. You’ll also notice that all physical cards come with a Magstripe, which allows you to use your Revolut card for ATM withdrawals. It’s also great for contactless payments. If you’re only after a card to use online, then you should take a look at the virtual card. This is absolutely free and connects to the Revolut app. Keep in mind that the card lacks a PIN because it’s not a physical card. This means it can’t be used to take cash out of ATMs. One interesting fact about the card is that it deletes itself every few months and is automatically replaced with a new one. This is a unique security feature only found on Revolut.

Using It For Online Gambling

When it comes to making online casino deposits at a casino like 22Bet Casino, you can have absolute confidence that the platform is secure. Furthermore, if you’re a regular gambler, you can utilise the Money Management System which is part of the in-app Budgeting Tools, to set yourself limits on your casino spending when playing jackpot games. By keeping check of your funds in this manner, as well as listing them as a separate budget, it’s much easier to take control of the amount you’re spending at the online casino.

The first thing you need to do is look for a casino that lists Revolut as a payment method. Once you found one, then you’ll find that using the Revolut card is no different from using any other credit card. All deposits are instant. Meaning that you can start playing the minute your funds land in your online account. The only fly in the ointment is that withdrawals can take up to 6 working days. This is as long as, or even longer than making a clunky old bank transfer. Nevertheless, you should note that Revolut has no fees for using your card, whether making online deposits or withdrawals.

Betting Sites that Accept Revolut

ThoughRevolut has been used for funding online casino accounts over the last couple of years, new and improved e-Wallets have overtaken the platform. With their ease of use and speed for both deposits and withdrawals, Revolut just can’t compete and is gradually receding into the background. In fact, today you may struggle to find many casinos that accept deposits via Revolut. One of the most recommended casinos to win the jackpot that’s happy to take deposits via Revolut is 22Bet Casino.

The Revolut Gambling Block

One thing we do like about the platform is the fact that they’ve put time and effort into designing a means of helping players control their gambling spending. When you first download Revolut, you’ll notice that by default is a “Gaming Block.” Once this is enabled, all online casino payments from sportsbooks, betting shops, and casinos, will be automatically blocked.

If you wish to enable the Gaming Block, simply go to your mobile profile page on the app. Scroll down to Security Settings and find the Gambling Block. Once selected, you need to agree to the Terms and Conditions of the block itself, and then it will start working straight away. In order to deactivate the Gaming Block, there’s a 48-hour waiting period for the process to complete.

Security Of Revolut

It’s only natural that when you’re gambling online in the UK to be concerned about your online security. After all, there’s no chance to win the jackpot online if someone’s emptied your casino account. We can vouch that Revolut takes its customer’s safety very seriously. There are multiple methods in use for protecting players from bad actors. These include things like needing a fingerprint to log into your account. Furthermore, you’re able to turn off a number of features on your Revolut card in order to mitigate the risk of fraud. Some of these include the possibility of disabling e-commerce payments or the card’s facility for use at an ATM.

Top-Notch Anti-Fraud Systems

The company uses its proprietary “Sherlock Anti-Fraud System” to counteract any fraudulent activities. Then we should talk about their 2- factor authentication. This involves authenticating payments by verifying via a separate mobile notification. We have to admit that Revolut is is an incredibly safe and secure platform.

Always Check The Casino’s Own Security

Keep in mind it’s not just the payment option security that’s important. After all, your information, be it personal or banking is going over the internet to the online casino itself. So it’s important at the online casino to offer top-notch security, including 256-bit SSL encryption. It’s a common mistake to assume that, just because your funding options are secure, the online casino you’re dealing with follows the same security protocols.