In recent years, we’ve seen huge changes in banking technology. Gone are the days when traditional banks were your only option. Nowadays, several alternatives to traditional banks have started to spring up. There are companies that make managing your money a whole lot easier. Revolut is one of them.
While Revolut was designed to be the digital answer to the traditional banking system, it is a platform that has been embraced by many online casinos, and there are several reasons for this. In fact, if you are planning on gambling at an online casino, there may be a few reasons why you would want to check out Revolut. Today, we’ll discuss these reasons. We’ll let you know why Revolut has managed to rapidly become one of the most-used systems for managing money in online casino gaming.
What is Revolut?
You can think of Revolut as a digital banking system. It has no physical branches. Everything is done through an app, allowing people to access their money on the go. Although it does have a few differences from traditional banks, Revolut generally has the same features. With a Revolut account, you can:
- Get a bank account number
- Get a debit card (physical and virtual cards)
- Earn interest on the money in your account
- Make payments
- Receive money
- Send money overseas (at a far more competitive rate than traditional banks)
We like to think of it as a far better version of PayPal, which is another system that helped to transform the best Revolut casino sites. You’ll see why in a short while.
The best part is that signing up for a Revolut account is easy. Anybody can do it. You can get a Revolut account far, far easier than you can get a bank account in the UK, which is strange, since everybody in the UK is legally guaranteed a bank account. You just need to have proof of your identity, such as a passport or driver’s licence, and you are good to go.
How Revolut has changed online gambling
When Revolut first launched, they didn’t really have any aspirations to become the go-to platform for online casinos. It just happened. Over time, this is something that Revolut has really leaned into. In fact, they have developed a special feature for online gamblers that we will look at below.
Here, we look at the impact that Revolut has had on online gambling.
It is a digital wallet
We don’t know if you know this, but UK gambling laws are incredibly strict, despite the country having some of the best gambling companies in the world. One of the laws requires that withdrawals from an online casino account must always be sent via the same deposit method. So, if you deposited cash using a bank account, any withdrawals from your winnings must go to that account. While it is a law that makes sense, it becomes frustrating when you are depositing using multiple deposit methods.
Revolut has shaken things up a little bit. As we said, your Revolut account can work just like a standard bank account with a UK bank account number. However, you can top up your account using your ‘main’ bank account, or another payment method, whenever you wish. You can also withdraw to other payment methods whenever you wish.
This makes things a little bit more convenient when it comes to dealing with British gambling laws. When you make a deposit using your Revolut bank account or debit card, you can then withdraw that cash to whatever payment method you wish once the withdrawn cash arrives in your Revolut account.
While other digital wallets are accepted by online casinos, such as PayPal and Skrill, Revolut is a considerably more effective digital wallet for two reasons:
- The site doesn’t need to explicitly accept Revolut, while they do need to for PayPal and Skrill.
- You can use your Revolut account (and thus your gambling winnings) using a debit card, so you have more options for spending.
This is probably the main reason why Revolut has helped to transform the online gaming sector. It has helped gamblers make deposits and withdrawals easier in a world that was changing to make everything much harder, and a world in which half of bank employees would not recommend their own payment platform to customers.
Fast Withdrawals To Revolut Account
As your Revolut account is a bank account, withdrawals are incredibly fast. A lot of the time, cash should take no more than a few minutes to arrive. This is assuming that you are using an online casino that supports fast withdrawals.
We probably don’t need to tell you how much of a benefit this is.
Makes It Easier To Track Spending
We know that many people have issues with tracking their gambling spending, despite spending tracking being essential. You’ll be pleased to know that you can always monitor exactly what you are spending on Revolut. It’ll tell you exactly where your money is going. If too much is going to online gambling, then you can nip things in the bud a little bit easier.
We suppose this isn’t transforming the online casino gambling sector all that much, but we do think that online gamblers should have better control over their money when it comes to gambling, and Revolut helps with that.
Can Block Gambling Sites On Account
Revolut is also one of the best platforms around for blocking spending on gambling sites. All you need to do is flip one switch. You can’t really do that with your traditional bank account or debit card, at least not without jumping through a ton of hoops.
Again, this is not transforming the online casino gambling sector as a whole, but it is certainly helping people become much more responsible gamblers.
Withdraw To Different Currencies
Gambling at an online casino in a foreign country? Come from a foreign country and want to gamble in the UK? Well, Revolut makes this easy too. You can withdraw and deposit cash in different currencies. As we said a little bit earlier on, the fees for doing this will be a lot lower than your traditional bank account.
Basically, Revolut will open up more gambling options for you.
Everywhere Accepts It
Revolut is a widely accepted payment method. It is accepted as both a bank account and a debit card. If an online casino allows you to deposit using a bank transfer or a debit card, you can use Revolut. You don’t have to look for anything specific.
Revolut is an ‘accidental’ success story in the online gambling world. It thrives as an alternative to the traditional bank account, but the advantages of Revolut have helped the platform quickly rise to the top as a way to deposit and withdraw money when gambling online. If you are looking for a new digital wallet or digital bank account to make your online gambling a little bit easier to manage, then check out Revolut. Millions of other gamblers, just like you, have done the same. See why it is such a brilliant platform for yourself.
