Revolut offers several benefits when used for gambling sites and casinos:
- Instant Deposits: Revolut provides immediate access to your deposits.
- Instant Withdrawals: Betting winnings can be quickly transferred to your Revolut account.
- No Fees: There are no fees when you use Revolut to put money into or take money out of your sportsbook account.
- Multiple Payment Options: With Revolut, users can fund their casino accounts using various payment options, including bank transfers, credit and debit cards, and other e-wallets.
- Widely Accepted: Revolut's online payment service is widely accepted at online casinos around the world.
- Security: Revolut offers a secure way to manage casino accounts.
However, it's important to note that UK players need to disable the Gambling Block feature to make deposits and withdrawals at online gambling sites.
Revolut's Stance on Gambling Transactions
Revolut is a global neobank and financial technology company that offers banking services. It was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. Revolut provides a range of digital banking services in a mobile app targeted at young, tech-savvy users. These services include transferring money abroad in 29 currencies, a pre-paid debit card that enables cash machine withdrawals in 120 countries, a crypto-currency exchange, and vaults for budgeting and saving money.
As for gambling transactions, in April 2020, Revolut permanently blocked any gambling transactions on its platform. This means you can no longer debit funds into your bookmakers account using your Revolut wallet or debit card. However, some sources suggest that Revolut offers a feature called "Gambling Block", which allows users to block transactions related to gambling merchants voluntarily. This block is disabled by default and can be manually activated by the user. So, if the Gambling Block is disabled, Revolut users might still be able to debit funds into their bookmakers' accounts.
Do Online Casinos Accept Revolut Cards?
Yes, many online casinos do accept Revolut as a payment method. However, it's important to note that in 2020, following the UK's online credit card betting ban, Revolut stopped online casino players from using its credit cards (debit cards are still okay). The issue isn't with Revolut credit cards themselves, but that you can top them up using credit, which has become illegal for online gambling in the UK. Despite this, many casinos still accept Revolut payments through Revolut debit cards, and many gambling review sites even list their top Revolut casinos for you to pick from.
Revolut's Gambling Block Feature
Revolut's "Gambling Block" feature is a user-enabled setting designed to help individuals control their gambling activities. When activated, this feature automatically prevents transactions classified under gambling categories, including betting shops, online casinos, and sports betting apps. This tool is part of Revolut's broader efforts to support responsible spending and financial management among its users.
The Gambling Block feature's primary benefit is aiding users to manage their gambling habits. By blocking transactions with gambling merchants, users are less likely to succumb to impulsive betting decisions, which can be particularly beneficial for those seeking to minimize or quit gambling. Additionally, this feature is an effective tool for preventing financial overspending on gambling. It serves as a self-imposed safeguard, ensuring that funds in a user's Revolut account are not inadvertently spent on gambling activities, promoting better financial discipline and management.
The Gambling Block feature reflects Revolut's commitment to providing users with practical tools for managing their finances and making conscious spending choices. Its implementation highlights the importance of digital banking solutions in addressing modern challenges related to personal finance and responsible spending behaviors.
Revolut's Virtual and Physical Cards
Revolut, known as a "financial super app," offers a variety of account types that can be linked with either physical or virtual debit cards, not credit cards. These cards are integral to the Revolut ecosystem, each with distinct features tailored to different user needs.
- Types and Features: Revolut provides physical debit cards linked to its various account plans. These include Standard, Plus, Premium, Metal, Pro, and Business accounts, each with unique benefits and features.
- Usage and Flexibility: The physical cards can be used for in-person and online purchases, ATM withdrawals, and are accepted in over 110 currencies at the interbank exchange rate. They support contactless payments, chip-and-pin, and magstripe transactions.
- International Use: Revolut's physical cards, issued on the Visa and Mastercard networks, are widely accepted globally, allowing spending in over 140 currencies and ATM withdrawals in many locations.
- Concept and Security: A virtual card exists only in a digital format and is primarily used for online and in-app purchases. It offers an additional security layer as it has different card details from the physical card, reducing the risk of compromised primary payment card information.
- Disposable Virtual Cards: Revolut also offers disposable virtual cards for one-time use, enhancing security for online transactions. These cards generate a new unique number for each transaction, ensuring that card details are never shared with vendors.
- Customization and Control: Users can order up to five virtual cards simultaneously, allowing them to allocate each card for different types of online expenses and set spending limits. This feature aids in better financial management and tracking of expenses.
- Accessibility: Virtual cards are always accessible via a user's phone, making them less prone to physical loss. They are also compatible with mobile payment services like Google Pay and Apple Pay but cannot be used for cash withdrawals.
Both physical and virtual Revolut cards are integrated with the Revolut app, which provides budgeting tools and analytics. Users can set monthly budgets, daily spending limits, and track expenses in various categories like groceries or restaurants. This feature is particularly helpful in managing finances and understanding spending habits.
This article was published on December 7, 2023, and last updated on December 7, 2023.