Revolut casino – what’s the future of Revolut in gambling?
Since its launch in 2015, Revolut has earned a reputation for being one of the best digital banking alternatives worldwide. Its success derives from the fact that Revolut caters to customers who seek a level of convenience that may not be offered by traditional banking methods. It is now an accepted money transfer method in 130 countries, and prides itself in having saved customers £560 million in fees to date! If you’re into online betting or gambling, you may have been wondering when Revolut will become one of the established deposit and withdrawal methods. Will Revolut gambling become commonplace? This is a good question, since with already 1 million Revolut customers in the UK alone, there seems to be great potential for Revolut betting and gaming.
How does Revolut work?
Revolut is a pre-paid debit card (which can be MasterCard or VISA) which supports currency exchange, cryptocurrency exchange and peer-to-peer payments. Customers can make fast and secure transfers to bank accounts in different countries and use the real exchange rate to save money, buy and exchange Bitcoin, Ether and other cryptocurrencies, send and receive money at the click of a button (by means of the Revolut app) and make various kinds of online purchases.
The Revolut app is currently available for download on Android and iOS devices. After setting the profile, customers can top up their account via debit card or bank transfer, and use their balance to make purchases or transfers (much like other e-wallets). Yet one of the best assets of Revolut is the Revolut Card, a multi-currency card which is accepted by all merchants who accept MasterCard. This card converts the available balance into the local currency automatically, making it ideal for travelling, since no matter where you are in the world, there are will be ATM fees.
How would Revolut gambling work?
With casinos that accept Mastercard, we assume that there would be no problem with depositing with an online casino using your Revolut card. However, there are a lot of cases in which withdrawals to your Mastercard are not possible. You normally have to check this on each individual casino website. If withdrawals are accepted, there are normally certain procedures which need to be followed, especially where high withdrawals are concerned. The casino will typically ask for ID verification to make sure that you are the holder of that account. This verification procedure may be carried out no matter which payment method you us; for more information about it we suggest you have a look at our article about document verification here.
Betting and gambling with Revolut should bring with it several advantages. Since Revolut has multiple currency options, it will no longer be an issue if the casino you play with only accepts euros, since you will be able to create an account in euros. It will also be a great way for players to keep the money they intend to gamble separately (and also possibly help with budgeting and limiting one’s losses). Not to mention the fact that transactions with Revolut are really fast. In fact, we believe that what a lot of gamblers may be after is the possibility to gamble or bet using the balance in their Revolut app, which would be a very convenient and fast way of depositing into one’s casino account. We imagine that it would be similar to Paypal gambling, with the difference that there will be less fees involved.
Why is there no Revolut casino?
A major stumbling block for Revolut gambling at the moment is the fact that Revolut does not support certain merchants in the betting, gambling and the dating industries. In fact, Revolut’s help section clearly states that they are currently unable to offer services to gambling firms. This means that you probably won’t be able to make Revolut Prepaid Deposits to a casino or betting site. However, when it comes to depositing with your Revolut VISA or Mastercard, we assume that this will indeed be possible, but that withdrawals over a certain amount will be subject to the above-mentioned document verification.
Is there a future for Revolut betting and gambling?
Despite its huge success, Revolut is still in its early years, and since the gambling industry may be one of those industries that are deemed to carry a certain level of risk, it’s understandable that Revolut is being cautious about catering to the online casino and betting sector. However, we’ve got to keep in mind that gambling regulations are becoming increasingly stricter, and that online operators have their own fraud and responsible gaming departments to prevent illegal gambling or gambling for money laundering purposes. Such efforts, as well as Revolut’s growing popularity worldwide may pave the way for Revolut gambling to become commonplace in the near future.
On our part, we’ll certainly be looking out for the opportunity to gamble with Revolut, so that we’ll be the first to inform our readers about online casinos that accept this efficient payment option. In the meantime, if you’re after a smoother and more transparent way of depositing and withdrawing money with online casinos, have a look at our articles on Paypal casino and Bitcoin casino, where we'll let you know which online casinos are currently accepting these payment methods.