The 2020 ban on credit cards for UK gambling means users look for other deposit options. But many players don’t want to use a primary bank account for betting transactions. App-based banks like Revolut offer a solution, with a quick, secure way to transfer funds. This guide is relevant to betting sites that accept Revolut. Including the pros and cons, how to deposit and withdraw, and alternative payments.
Here we list what makes Revolut a top payment method for online betting.
Pros & Cons of Revolut as a Payment Method
There are many reasons to use Revolut for betting payments. The benefits outweigh the few drawbacks of this mobile-based payment method.
First, Revolut offers easy-to-use, quick payments for your betting accounts whether you want to deposit in GBP or over 30 other currencies.
From the Revolut app, you can set daily, weekly, and monthly spending limits for gambling sites. And it’s easy to track all betting transactions in the Revolut app.
Revolut’s in-app Virtual card security is excellent, using a password and biometrics. And the ability to freeze your card(s) if you suspect irregular activity.
- Revolut Pros
- Easy to set up & use multiple currencies
- Limit your betting spending
- Track all gambling transactions
- Virtual card security & freeze your card
- Revolut Cons
- Mobile-only – no desktop or backup platform
- Withdrawals up to 3 business days
- Revolut sometimes blocks betting transactions
Does Using Revolut Require an Account?
To move money to and from betting sites using Revolut, you’ll need to sign up as a Revolut customer. Either go to the iOS or Android app store or visit the Revolut website and scan the QR code. Either way, enter your mobile number and verify your account with a six-digit SMS code. Just provide your personal information (name, DOB, address, email address). Revolut offers a free account or a paid premium account.
Revolut Deposit
Before you deposit, check some Revolut app settings. Check that your Revolut account is verified. Go to Profile > verification. Also, in Settings > Security to check that the Gambling Block feature is off.
When you want to deposit at the bookmaker, from the Banking or Cashier section, select “Debit Card”. Enter your Revolut card details, including the 16-digit card number, expiry date and CVV code. Then choose how much to deposit (usually a minimum of £10).
Now, click on the notification to approve the transaction in your Revolut app. You must use two-factor authentication for every Revolut gambling transaction. Revolut betting deposits are instant, so you can then bet with the funds right away.
Since Revolut is a mobile app, you’ll need a compatible mobile device to deposit using Revolut.
Revolut Withdrawal
Follow these steps to withdraw with Revolut:
Withdraw with the same Revolut card you used to deposit. Using a different card means extra checks and longer processing times.
From the Banking area of the bookmaker site, select “Debit Card” to withdraw. Enter the withdrawal amount and click through to confirm it.
For your first withdrawal with a betting company, have a Government-issued photo ID ready. As well as proof of address from the last three months, and Revolut app screenshots of your card.
Your first withdrawal should be completed within 1-3 business days. Once you’ve withdrawn to the same Revolut card used for depositing, this process will likely be faster next time.
Revolut Fees in the UK
Revolut will not charge you for making deposits and withdrawals at gambling sites. But please double-check the bookmaker’s rules to see if they have specific charges.
How Does Revolut Compare to Other Payment Methods
The Revolut app offers an excellent user experience. The clean UX allows you to track all betting spending in real-time.
When you use digital or virtual cards, they have top-notch security. That includes functions to freeze or disable cards if there’s suspicious activity.
Revolut monitors your online betting transactions. Security checks detect changing betting behaviour or unusual transaction patterns. This may seem excessive, but it helps in fraud prevention.
Revolut betting site payments don’t typically involve fees. Bookmakers treat it like other debit cards, so you can deposit and withdraw with zero fees. In contrast to PayPal e-wallet, where bookies may impose fees. Revolut has transparent fees with favourable foreign exchange rates, if you need to deposit and bet in Euros, for example.
Revolut Alternatives
If you’re not comfortable using a mobile-based payment method like Revolut, or if a betting site doesn’t accept Revolut, consider Mastercard or Visa. Other options, such as Skrill and EcoPayz, let you keep betting activity separate from your bank account.
Otherwise, a prepaid card like Paysafecard may be worth looking into.
How to Choose a Revolut Betting Site or Casino
- License and security: Make sure the site is licensed by the UK Gambling Commission (UKGC) or a relevant body.
- Bonus offers and promotions: Betting sites that accept Revolut should include a range of concessions. Look at the “Promotions” or “Offers” page of your chosen bookmaker for full details.
- Payments: Seek out bookies that make Revolut deposits easy. And process withdrawal requests in 3 working days max.
- User Experience: Alongside instant deposits, look for a slick, uncluttered betting interface. You should be able to find all betting options with minimal clicks.
- Sports menus and odds: The best betting sites that accept Revolut have an A-Z selection of sports and markets, including horse racing, with clear betting selections and odds.
- Brand popularity: Play at reputable casinos or sportsbooks that have good reviews.
Common Problems & Solutions When Using Revolut
- Rejected deposits: If your deposit gets declined, contact both the bookie’s and Revolut’s support. See if the issue is the bookmaker payment processor or a Revolut fraud prevention block. Or use a Revolut virtual card instead.
- Cannot claim a bonus: A bookmaker may not allow Revolut deposits for offers. Check the T&Cs before you make a payment. Or use a different payment method.
- Withdrawal not processed: Keep a record of all transaction reference numbers, confirmation emails and support tickets. This information is useful if your withdrawal isn’t processed for any reason.
- Foreign transaction or conversion charges: Exchange your funds in the Revolut app at a favourable rate. Also, consider playing at sites which let you deposit in multiple currencies.
Final Verdict – Is Revolut Right for You?
Revolut offers the same convenience as similar debit card providers. But it lets you keep gambling transactions away from your bank statements. A Revolut account is a handy option for online gambling deposits and withdrawals.
In summary, Revolut is easy to set up. With instant deposits, quick withdrawals, and solid in-app security features.
FAQ
Is Revolut legit and secure?
Revolut is regulated and authorised by the Financial Conduct Authority in the UK. For extra peace of mind, they have a UK banking licence.
Is Revolut a common payment method among UK betting sites?
Revolut is gaining in popularity as a payment option. Many UK betting sites now accept Revolut transactions.
Are there any fees for using Revolut?
Revolut itself has no fees for bookie deposits and withdrawals. Please check if a bookmaker site charges for such payments. You would only expect bank fees for international currency payments.
Are there any bonuses and promotions with Revolut?
Please check on each bookie to see if you can deposit with Revolut and claim promotions and bonuses.