Launched in 2015, Revolut has supported over 350 million global transactions in its somewhat short existence. Based in the UK, Revolut allows you to transfer money in 29 different currencies and is available across the European Economic Area (EEA).
After the UK banned the use of credit cards to fund gambling transactions in April 2020, Revolut announced that it was suspending all deposits to websites of this kind.
However, a selection of Revolut betting sites still operate in the UK and European market. We will take a look at each of these in this article, as well as what you’re restricted from doing with your account.
Best Revolut Bookmakers
Many Revolut bookmakers offer intriguing welcome bonuses to get you started on a positive note. Ιnstant payments, low fees and over the top trustworthiness are some of the main benefits when betting with Revolut.
How can I gamble on Revolut betting sites
Opening an account with Revolut is straightforward. Once you have downloaded the app onto your phone, you will be prompted to enter your mobile number and also enter a four-digit PIN code. Revolut will then text you a six-digit code, which you should then type within the app. After this, you will have to share your name, home address and email address.
It’s also necessary to take a picture of your passport, as well as a selfie, so that Revolut can verify your identity. Before using your account, you will also need to deposit money into it.
The process is simple for depositing to a Revolut betting site:
- Login to your preferred bookmaker
- Select 'Deposit'
- Choose 'Credit/Debit card'
- Enter the amount you wish to deposit
- Your account will be topped up instantly
It’s possible to use your Revolut account as a digital wallet, which will allow you to make online transactions and store money. If you wish to deposit without using your card, you can connect your Revolut account to a digital wallet such as Neteller or PayPal and add money to your account like that.
Are there any good alternatives for Revolut bookmakers?
If you’re based outside of the UK, you could bet on N26 bookies. A 3% fee is added to gambling-related transactions, but there are various advantages – such as international processing via TransferWise.
TransferWise itself is also a viable gambling option. Depositing and receiving your winnings via this method can be done in over 40 currencies.
For UK players, one eBank which permits gambling transactions is Monzo. The benefits are similar to N26 and Revolut, especially in the form of swift payments. Unlike N26, there isn’t a fee for gambling transactions. However, you should keep in mind that this particular method is only available to players in the UK market.
Other alternatives for Revolut bookmakers include e-wallets like Skrill and Neteller. Skrill bookmakers offer under the radar activity along with fast transactions. Neteller similarly has a VIP programme. Signing up for an account with either is an easy process.
Upsides of Revolut gambling
Using newer banks means that the entire payment process is more streamlined than a traditional bank, from start-to-finish. This includes when gambling with Revolut.
Unlike many banking options out there, Revolut has very few complications and you’re also given more flexibility in terms of both currencies and languages available to you. Here are some of the key benefits of gambling with Revolut.
✔ Instant withdrawals: We understand – it’s 2020 and nobody wants to wait three days to receive their winnings anymore. Fortunately, Revolut gambling sites enable you to withdraw these and receive them in little time.
✔ No fees for deposits or withdrawals: Many electronic banking and payment options charge you a small percentage for either gambling-related transactions or adding money to and withdrawing from your account. With Revolut, however, neither of these are the case.
✔ Security: When gambling online, keeping your money secure is the main priority for everyone. As far as security goes, Revolut is one of the strongest digital banks in this respect. Along with keeping your banking details private, additional protective layers such as fingerprint authorization are at your disposal.
✔ Convenience: Revolut is available 24/7 from your mobile device, making it easy to deposit and withdraw whenever you feel like it. The mobile app is also well-designed and user-friendly, with everything clearly-identified and your balance updated in real-time.
✔ Available in multiple currencies & languages: Revolut supports major currencies such as the Euro and US Dollar, as well as others like the Swedish Krona and Croatian Kuna. The app is also available in 24 languages, ranging from English, Spanish and French to Danish, Estonian and Latvian. You will therefore likely be able to deposit money in your homeland’s currency, along with using the app in your native language.
Downsides of Revolut betting
While Revolut is one of the best fintech options on the market, there are also downsides to betting via this method. These range from being online-only to regulatory restrictions and other monetary limitations.
Here’s an overview of the negatives related to betting sites that accept Revolut.
❌ Major restrictions on UK betting sites: From April 2020 onwards, the UK has banned gambling transactions via credit card. Following the introduction of this law, Revolut withdrew from the UK betting market. Therefore, it’s not possible for British players to bet via this payment method.
❌ Limited free ATM withdrawals per month: Revolut customers using the standard package can only withdraw a maximum of around €220 from land-based cash machines each calendar month. This is much more restrictive than traditional banks.
❌ Customer support is slow: While the Revolut customer support team will provide you with the information you need, getting a response is often slow. You cannot get this kind of help via social media and must therefore go through either the website or app. This, needless to say, is a problem when waiting to receive your winnings or move your money elsewhere.
❌ No physical branches: Since Revolut is an online-only bank, it doesn’t have a physical presence. While this may not be much of an issue for those solely betting online, it can be an inconvenience when you’re looking for a quicker response.
❌ You need the Revolut app in order to use its features: To use Revolut, you need to have the app downloaded on your phone. On top of this, you also need the app in case anything goes wrong – such as losing your card. It’s not possible to deposit and withdraw money via either a land-based outlet or on the company’s website.
Is Revolut betting available in the UK?
Since 14th April 2020, it has been illegal for gambling operators in the UK to accept transactions made by credit card. This applies to all forms of gambling, with lotteries for good causes the only exception.
Revolut has since said that it is no longer allowing players in the UK to gamble using its cards. This applies to transactions attempted with both online operators and at land-based retail outlets and casinos.
As the company said on its website when updating customers on new UK gambling regulations: “we thought you should know that from 14 April, some UK gambling operators may not accept your Revolut card as payment”.
Are there any Revolut fees I should know about?
If you deposit money using a non-EEA-issued card – for example, one from the US – you will need to pay a small fee.
There is also a €3.32 fee if you make a payment in US dollars via SWiFT transfer, or €5.54 if done in another currency. you must also pay a delivery charge and 2% on ATM withdrawals above the maximum monthly allowance.
There are also a few Revolut fees related to exchange rates. This is 0.5% if you exchange more than €1,108 each month, as well as 2.5% on crypto. On weekends, there is a 1% fee that must be paid for all currency exchanges.
Perks of Revolut Premium and Metal cards
Higher ATM withdrawal limits: Revolut Premium users can withdraw up to €443.21 per month, with Metal card holders having that increased to €886.42. There is also no monthly limit on exchanging fiat currencies.
Travel and medical insurance: Both plans provide medical insurance overseas, along with compensation for lost baggage and delayed flights. Moreover, if your flight is delayed by an hour or more, you’ll gain lounge access.
Priority customer support: As we mentioned before, Revolut’s customer service can sometimes be slow. However, Premium and Metal members are able to gain access to help quicker than those on the standard plan.
The Revolut app and mobile betting
The Revolut app is available on both Android and iOS. Attributes include:
Easy-to-use: The Revolut app is user-friendly and even beginner digital bankers will be able to navigate it without problems. You can split your money by currency, allocate it depending on what you plan to spend it on and more.
Fast: Setting up an account is easy and beyond that, payments are swift – both in terms of sending and receiving them.
Control your money from your mobile device: Revolut provides analytics on your spending and allows you to set budgets, as well as keeping track of how and where you’ve spent your money recently.
Is it worth betting with Revolut?
Revolut had been a stable payment option of high end bettors since it began operations. Instant withdrawals, privacy in financial activity and high limits played a major part in its growing popularity.
Nevertheless, since 2019 Revolut has started to make gambling with its products increasingly difficult. That culminated with the ban of gambling transactions in the UK market in April 2020. Even if you live in a different country, using your Revolut card for betting purposes can lead to additional documentation requested or even a temporary suspension of your account.
That being said Revolut was a great payment option until a few months ago. Nowadays high rollers who want confidentiality and rapid payments should opt for a wallet such as Skrill or Neteller.
Complete list of bookmakers with Revolut
Player to player transfers, fast transactions and an easy to handle mobile app are some of the main perks when betting with Revolut. Go ahead and pick your bookies that accept Revolut to make most of your betting.
A Revolut card is issued by Revolut and enables you to make offline transactions and ATM withdrawals. Once you order one and pay for delivery, you should receive it within three weeks.
After the UKGC’s credit card ban in April 2020, Revolut announced that it would stop processing gambling transactions in the UK. However, 888casino, NetBet, VBet, Tonybet and Novibet still accept this payment method.
Yes. Revolut is one of the world’s leading fintech banks and payments are both swift and secure. The app also offers multiple layers of security, including fingerprint identification.
Should you prefer to bet using a different payment method, you could go with other fintech banks such as Monzo and N26. E-wallet options include Skrill and NETELLER, while you can also use your traditional bank account to deposit money into your betting account.
Revolut is available to residents in all of the EEA countries, which consists of all 27 EU member states as well as Norway, Iceland and Liechtenstein. Residents in the UK, US, Switzerland, Singapore, Australia and Japan can also get a Revolut account. ATM withdrawals are available in 120 countries across the world.
After signing up for an account, you’ll be given the option to order a Revolut card from within the app. This is free, with the exception of paying the postage fee.
To verify your Revolut card, you will need to make a transaction with Revolut. Once you have done this, you find a four-digit code – which will show up *Revolut1234*. Use this code to verify your deposit in the ‘Add Money’ section of your Revolut mobile app and scan your card as well. After you have completed these steps, you should soon be verified. You should note that depending on your bank, it may take up to one day to receive the four-digit code on your bank statement.
Revolut supports most major currencies, including the Euro, US Dollar, Great British Pound, Canadian Dollar, Australian Dollar, Japanese Yen, South African Rand and Swiss Franc.
Revolut is a paid version of the standard account, which features a variety of extra benefits. Users can benefit from unlimited foreign exchange and disposable virtual cards, along with cashback discounts and more.
Revolut does not have a banking licence, but is a safe digital bank used by millions of customers. You can still pay with your card at physical locations and manage your money via the mobile app. Key differences compared to ‘traditional banks’ include having no land-based branches that you can visit, as well as funds being kept in segregated accounts.