What is Revolut?
Revolut is one of the popular electronic payments available at the moment. The payment system was launched in the UK in 2015 and since then, it has risen to be one of the preferred payment methods for people in the UK and environs.
The widespread adoption of this payment system led to most esports betting sites in the UK and other countries in the world including the option in their deposit and withdrawal options. Thus, there is a large array of esports betting sites and bookmakers that allow you to use Revolut to make payments and withdraw your winnings on their platform. We will discuss some of these bookmakers in this article.
Esports Betting Sites with Revolut
Payment methods are an important aspect of a betting site’s offers. It determines the ease with which punters fund their accounts and withdraw their winnings. Without an efficient payment method, it becomes difficult to enjoy the offerings of an esports betting site.
The following are some of the popular esports betting sites that allow you to use Revolut as a payment or withdrawal method on their platform.
22Bet is a reputable and popular bookmaker in the esports scene. Thus, it is not surprising that the bookmaker allows punters to use Revolut for depositing and withdrawing their winnings. The bookmaker also allows punters to enjoy an incredible welcome bonus when they make their initial deposit on the betting site using Revolut. You get about a 100% bonus on your deposit when you make your first deposit with Revolut.
Another impressive esports betting site that allows you to Revolut is 1XBet. The bookmaker has dominated the traditional sports betting business, so it has an excellent betting offering that includes a wide range of payment options. One of the extensive payment methods allowed on the betting site is Revolut, and this option was also made available for its esports betting offering.
The bonus offered by 1XBet on initial deposits made with Revolut amounts to about 200%. This means you get almost 4x your initial deposit as a bonus when you fund your 1XBet account using Revolut.
888Sport is a popular esports betting site in the US and other countries. The bookmaker ranks top of its competitors due to its impressive esports betting offerings, one of which is its variety of options when it comes to payment methods. Revolut is one of the payment options available on 888Sport, and you get rewarded with bonuses when you make your deposit at the esports betting site with Revolut. Punters will get as much as $30 when they bet $10 on esports titles using Revolut.
Gambling With Revolut on Esports Betting Sites
Using Revolut to fund your esports betting accounts and withdraw your winnings is easy and straightforward. The process starts from creating an account with Revolut and funding your account and you are on your way to enjoy seamless financial services for your esports betting activities.
Creating an Account with Revolut
Creating an account with Revolut starts with downloading the Revolut app. This is easy to do as you can get the app on both Google Play Store and Apple Appstore. After downloading the app and opening it, you will need to provide your mobile phone number and a four-number pin. Revolut will then send a six-digit verification code to the mobile phone number you provided. Once you enter this number in the Revolut app on your phone, you can move to the next step of setting up your account.
The next step involves providing personal details. These include your name, address, and email address. You also need to provide a means of identification which could be your passport or ID card. Taking a clear picture or screenshot of the ID and uploading it to the app is enough for Revolut to verify your identity.
Funding your Revolut Account
The next step after verifying your identity is to fund your account. You can do this by opening the app and signing in. Then go to the add Money section. This is where you get to deposit money into your account. There are three methods of funding your Revolut account.
These methods include;
- Bank Transfer
- Credit Card Payment
If you decide to fund your Revolut account through bank transfer, you will need to provide some information. These details include your first and last name, Bank account number, and your means of identification. After providing and reviewing all of these pieces of information, you can then click on the Add money.
Depending on the bank you use, you may have to verify and confirm the transaction to your bank before the funds can be released.
Credit Card Payment
With this payment option, you need to provide certain information about your credit or debit card. These details include your card number, CVV, the first and last name of the cardholder, and the card expiration date.
When using e-wallets, you need to provide your first and last name, and your email address.
Steps involved in depositing funds on Revolut
- Open the Revolut app
- Select the Add Money option
- Choose a payment option
- Provide the details required
- Review the details provided and click the Add Money button
Security of Revolut
It is important to state here that Revolut is a safe and secured payment platform. Thus, all of these details provided are kept safe and out of the hands of hackers and third parties. The same thing also applies to your funds stored on the system. This is made possible through 256-bits encryption which is used for transactions and the SSL encryption used for storing data and details provided on the app.
Due to this encryption used, nobody except you and Revolut can access the data and details linked with your account. What’s more, the payment system’s website uses HTTPS, which is the safest security protocol for websites.
Thus, with all of these parameters put in place, it is easy to see that Revolut is safe and secured enough to hold your funds and information, and you have nothing to fear about hackers or malicious third parties gaining access to them.
Advantages of Using Revolut
One of the edges that new and electronic banking systems have over traditional banking systems is a streamlined and seamless payment process. This edge also extends to esports betting with Revolut. Apart from seamless transactions, here are some of the benefits that you enjoy when you use Revolut on your favorite esports betting sites;
Fast and instant payouts
One of the upsides of using electronic payment options is the fast payout rate. With these methods, you do not have to wait for days or weeks to get your winnings into your bank account. Revolut is an example of these electronic payment options and it doesn’t disappoint when it comes to this aspect. With Revolut, you can get your payment within minutes or hours at tops.
No Deposit or Withdrawal Fees
For some payment methods, you pay some amount of money anytime you make a withdrawal or deposit using the payment method. These charges eat into your funds and cause some little deductions. If care is not taken, it affects your finances.
However, with Revolut, this problem gets solved. You get a seamless deposit and withdrawal transaction without incurring any charges whatsoever.
Secure Funds and Transactions
One of the disadvantages of using an internet-based payment system is the danger of hackers and malicious internet users. Your financial details and funds are stored in the database of the payment company, and as such, are susceptible to hacks and malicious attacks. If this set of people gain access to your financial details stored on this payment website, you may lose your funds stored there and in other places.
To prevent this occurrence, Revolut uses a series of security protocols for its apps and website. As a result, it becomes very difficult and practically impossible for hackers and malicious attackers to access the company’s database.
Revolut is an internet-based payment solution. This means that as long as you have an internet connection and the application installed on your phone, you can access your money and complete transactions from wherever you are. This means that from your comfort zone, you can make payments or receive money without going through any stress.
Multiple Currencies and Languages
As a global payment solution, it makes sense to have a financial service that appeals to a wide range of customers. Revolut checks this box as it allows users to transact in many currencies and languages. You can transact in as many as 24 different languages on Revolut. The payment company also accepts currencies such as US Dollar, Euro, Swedish Krona, Croatian Kuna, and other currencies. Thus, it is very possible that you would be able to transact in your native language and currency on Revolut.
Disadvantages of Revolut
As useful and impressive as the payment service is, it is also possible that there would be some downside to the use of Revolut. We will discuss some of the possible disadvantages of using Revolut for betting esports titles in this section;
UK Ban on Gambling Activities
The first downside of using this payment service for betting on your favorite esports title is that it has been banned. Punters within the UK cannot use the payment service to fund their esports betting accounts and place wagers. Neither can they also use the service to receive their winnings.
Limit on ATM Withdrawals
Another disadvantage of using Revolut is the fact that there is a limit on the amount of money that users can withdraw per month. As a user of Revolut, you can only withdraw as much as $220 from your Revolut account through the ATM in a month. This restriction is a bit strict and even traditional banks do not use this type of restriction on ATM withdrawals.
Poor Customer Support Service
While Revolut has excellent financial service, the same cannot be said about its customer support service. The customer support agent will provide you with needed answers and information. However, it takes a long time to get this response. The social media platforms of the company are almost useless when it comes to customer support and you can only get help from the website or app.
No Land-Based Branches
Revolut is an internet-based payment service and as a result, it has zero physical offices or branches. While this means that you can complete all transactions from the comfort of your home and mobile phone, it also means that you cannot complain to a physical office, should a problem arise.
All Revolves Around the App
The bulk of the features and functionalities of the app resides mainly within the app. This means that you need to have the app installed on your phone before you can enjoy the features of Revolut. The customer support service works better on the app, you can only change your card or report its loss through the app and many other things.
You can only enjoy some of the benefits and features of Revolut when you subscribe to the premium plans of the payment service. While most of the benefits discussed above come with the basic plan, there are more juicy benefits that you cannot enjoy unless you have a premium subscription. There are two premium plans available in Revolut, they include Premium and Metal plans.
Some of the tier-based benefits include higher withdrawal limits which mean that you can withdraw more money from your account through the ATM than a regular user. Other benefits include travel and family insurance, and priority customer support which means that you get faster and better customer support service when you belong to either of the two premium plans.
Alternative Payment Options
If you reside in a country or region where the use of Revolut for esports betting is prohibited, other options provide you with safe and secured financial services for betting on esports titles. Examples of these include PayPal, Neteller, Skrill and many more.
Revolut is one of the top online payment services that punters all around the world use for their betting activities. The service has a lot of impressive features such as fast withdrawal, wide acceptance, security of funds and data, and many other benefits.
The major downside to the use of the payment service is its ban on gambling activities in the United Kingdom. This ban means that esports punters in the UK cannot use this service to finance their esports betting accounts or withdraw their winnings.
However, despite these disadvantages, Revolut is still one of the best payment options in the world and offers impressive financial services to punters.
Do I Need a Revolut Card?
A Revolut card is an important aspect of Revolut services. This service allows you to make payments and transact offline. This card also allows you to make withdrawals from ATMs. Click here for more details on how to get your Revolut card.
Can I use Revolut in the UK?
After the ban on card transactions for gambling activities, it became difficult for punters to use online payment options in the country. One of the payment services affected includes Revolut. Click here to find the list of other payment options that you can use for esports betting in the UK.
Is it Safe to Use Revolut?
Revolut is one of the safest and secure payment options in the world. The service uses different security protocols to protect money and information stored in the database. There are also multiple layers of security for the app when you sign in. click here to know more about how these security protocols work.
Which Countries Can Use Revolut?
Revolut is available for use in all EEA countries. These countries include 27 EU member countries and Scandinavian countries such as Iceland, Norway, and Liechtenstein. You can also use the payment service if you reside within the US, UK, Switzerland, and Australia. Asian countries such as Japan, Singapore, and others can also use the services. In summary, you can use Revolut in about 120 countries.
Is Revolut a Real bank?
While Revolut does not have a banking license, it is a digital bank which has been tested to be safe and secure. It doesn’t have a physical bank branch and allows you to carry out transactions from your mobile phone. So it is different from a traditional bank, but functions like one.