Rapid changes in financial technology have meant that it is now possible for us to carry out online transactions in a bewildering array of banking methods.
While the retail sector has been at the forefront of the fin-tech revolution, the online gambling industry has also embraced some of these new banking methods, including one of the newest options: Revolut, which was launched in 2015. So, just how good is Revolut as a casino banking option, and what advantages does it have over other payment methods?
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What is Revolut?
Revolut was created as a banking system that would speed up banking transactions, as the developers, Vlad Yatsenko and Nikolay Storonsky, had become frustrated with the delays, charges and old-fashioned approach of traditional banking operators.
The new payment method promised faster banking times and lower fees and there was early interest from online gamblers and casino operators over the possibility of the development of https://bstcasinos.com/revolut-casinos/, providing Revolut deposits and withdrawals to play casino games.
The Revolut system is similar to e-wallet banking options. Customers register an account that is linked to their existing credit or debit card, and then will be sent a Revolut card that they can use to carry out transactions with online retail venues and casinos, as well as some real-world venues.
The advent of Revolut in the online casino sphere has significantly enhanced the gaming experience for players who prioritize quick and efficient financial transactions. This innovative payment method is particularly beneficial for enthusiasts of popular online games, such as Where’s the Gold pokie. This pokie, celebrated for its engaging Gold Rush theme and lucrative bonus features, is a favorite among online gamblers. The ability to use Revolut for swift deposits and withdrawals means that players can enjoy their favorite game with minimal interruption. This seamless integration of cutting-edge payment technology with exciting online gaming options represents a significant leap forward in the digital entertainment industry.
Revolut Revolution
In the eight years since its launch, Revolut has proven to be extremely popular. Here are some of the most notable stats associated with the Revolut Revolution:
- Revolut transactions legal in over 130 nations
- Over 7,000 new Revolut accounts opened each day
- Over 2 million Revolut users currently
- More than one billion transactions are processed by Revolut every month
- Available in more than 29 currencies, including USD and GBP
Inevitably, there have been difficulties along the way, most notably associated with the UK gambling sector. In 2020, the UK Gambling Commission made it illegal for betting companies to accept deposits made using credit cards. Since it is possible to load your Revolut account using a credit card, this meant that Revolut casinos could be breaking the rules of their licences.
Fortunately, the issue has been resolved. Revolut is able to block money that is loaded onto Revolut wallets from being used to gamble, and this means that gambling customers in the UK are still able to use Revolut as a way to make deposits and play their favourite casino games.
Revolut Advantages
So what are the advantages in using Revolut to make your deposits and withdrawals at an online casino? Here are the key possible benefits of this payment system:
- High-security encryption and no need to reveal bank account details.
- Available in many of the world’s most significant currencies.
- Easy to open an account online
- Recognised by all online licenced casinos that accept Visa or Mastercard payments
- Available for both deposits and withdrawals
- Low deposit fees, with no charges below £1,000 per month and 0.5% fee above that.
- No charges for monthly withdrawals up to £200 and 2% for transactions over that level
- Instant processing of deposits
- Licensed and approved by most of Europe’s major financial authorities
Conclusion
As with all banking options, it is important to do your research before you open an account. In particular, those who are concerned about charges and fees should double-check that their patterns of deposits or withdrawals do not incur greater costs than other banking options. For those who are happy with the fee level, however, Revolut does offer advantages in terms of speed, reliability, accessibility and security, for those playing online casino games in Europe and elsewhere.
