Revolut is a highly popular digital bank that offers low exchange fees and quick transactions. In this Revolut Betting guide, we’ll take a look at the intricacies that this payment method offers in betting.
Top Esports Betting Sites that Accept Revolut
What is Revolut?
Revolut is a digital bank that was originally started in 2015 as a travel card. In recent years, the company has moved towards the financial side and is thus transforming itself into a digital bank. It’s also one of the fastest-growing digital banks in the world – however, it still hasn’t reached that point.
At the time of this writing, Revolut is still finalizing the process of becoming a digital bank, but some bookmakers have already started allowing Revolut betting to take place. Right now, Revolut doesn’t have deposit protection which might be a hindrance for some people but overall, issues have been minimal.
One exceptional feature of Revolut is that there aren’t any international transfer fees, as well as the lack of top-up fees. Both of these facts are crucial in understanding why Revolut might quickly become the payment method of choice for many fresh and experienced punters.
Are you a Rev-rookie looking for some help navigating the app?
— Revolut (@RevolutApp) October 8, 2021
How does Revolut Work?
The way Revolut works is fairly simple – you create an account, choose whether or not you want the Premium plan, after which your card will be delivered once it’s made. Using this card, you’ll be able to place bets on the before-mentioned betting operators.
The great news is that you can deposit and hold multiple currencies at once on just one bank account and one card. There are also plenty of useful features such as setting monthly budgets, send/receive money to and from other Revolut users for free, Apple and Google Pay support in some countries, and interest on savings.
Major milestone alert! We launched Revolut Bank back in 2020, and just this year we’ve just hit one million customers but we’re still gearing up for more 🚀
The Bank is available to customers in 15 EU countries, and counting… pic.twitter.com/m9tmG74n8x
— Revolut (@RevolutApp) October 6, 2021
How to Create a Revolut Account?
Creating a Revolut account is simple and quick. All that you’ll need is a few minutes of your time and your mobile phone.
Visit the Revolut website and click ‘Sign Up’ in the top right corner to begin the account creation process. You’ll get a pop-up asking for your phone number, as the image below is showing. Once entered (if your country is supported in Revolut), you will receive an SMS with the app download link.
Once you’ve confirmed your identity (by inputting the 6-digit code) and opened the app for the first time, you’ll have to enter your personal details (Name, Birth Date, Address, and Email). You’ll also have to make an initial deposit to continue the process (a very small deposit).
In order to finalize the registration process, you’ll have to upload proof of identity; a selfie and a picture of your passport. Lastly, choose which account type you want (Standard, Premium, or Metal).
That’s basically it! Now all you have to do is wait for the card to arrive. Keep in mind that you will receive either a MasterCard or Visa Card, however, you won’t be able to choose as they are sent out at random.
How Good is Revolut?
Revolut users enjoy a multitude of features and services that help with the whole financial side of things. Punters are just now getting in a position to use Revolut for betting, and those that do are satisfied with it.
Revolut is also available in EEA countries (European Economic Area), Australia, Singapore, Switzerland, UK, US, and Japan.
👋 Revolut Bank has officially arrived in France, Italy and Portugal! 🇫🇷 🇮🇹 🇵🇹
You can now get your money protected by a deposit guarantee scheme, plus exclusive access to our latest products as they drop. Just head to your app to join the bank! 🏦#RevolutBank pic.twitter.com/ZjaRv9b1RA
— Revolut (@RevolutApp) December 9, 2021
The main selling points of Revolut are quick and easy transactions, very low (or non-existent) fees across certain transactions, multi-currency ownership, an ever-increasing number of features.
However, due to its current transitory period (to digital bank status), it isn’t available in many countries and most bookies don’t yet support it. Still, if you get a chance to use it, it’s a pretty good payment method overall, and here’s a bit more info on why.
Within this Revolut Review, you’ll find plenty of information about Revolut as well as some alternatives to it. With that said though, it’s time to dive into the main parts of any payment method – transaction fees and their pros and cons.
Before that, here are some interesting yet useful features that Revolut users can enjoy – Apply for personal loans, get phone and travel insurance, purchase cryptocurrencies, and get virtual cards.
|Fee Type||Fee Amount|
|Card Fee||€5.99 (Free if Premium account)|
|ATM Fee||Free up to €200/month, 2% afterward|
|Transfer Fee||Wire transfers are free (SWIFT isn’t)|
|Currency Exchange Fee||Free up to €1,000/month, 0.5% afterward|
Pros and Cons
|Top-up is free||User accounts can be temporarily frozen due to certain security issues|
|Multi-currency holding on one account||Not yet a fully-fledged digital bank|
|Cryptotrading, temporary virtual cards, and more advanced features||No deposit guarantees: direct debits are available only in GBP and EUR|
|Premium subscription has some juicy features (travel insurance for example)||Customer support could be better|
Revolut Payment Alternatives
Due to Revolut going through a consolidation period regarding their transition into being a digital bank, most online betting operators do not support it as a payment method. Although things are changing and some have allowed Revolut Esports betting, you might have to wait until it becomes more widely accepted.
Fortunately, there are plenty of alternative payment methods that you can use in the meantime, such as Neteller, Klarna, Entropay, and more. On top of that, you could also go down the cryptocurrency route and try with Bitcoin, or Ethereum.
In any case, we’ll be taking a look at the five most popular payment method alternatives to Revolut.
Skrill is widely accepted as a payment method across most Esports bookies and for good reason. Skrill functions as an e-wallet that offers quick and secure transactions of all types. Regarding these transactions, you’ll have to wait 24 hours for withdrawals to process.
You can also get a welcome bonus with Skrill but keep in mind that some betting operators prevent you from getting this bonus, so check out the terms and conditions of both operator and Skrill.
Paypal might very well be the most popular payment method out there. It has a long history of making safe transactions hassle-free. On top of that, Paypal supports much larger transactions whilst keeping the fees fairly low.
It is arguably the most accepted payment method across all betting operators nowadays but there’s a catch. While it is true that most bookies support Paypal deposits, the contrary may happen regarding withdrawals. Again, make sure to check if your chosen bookie allows Paypal withdrawals.
Paysafecard is a great and secure alternative payment method that puts a focus on user security and personal information sensitivity. It essentially works like a pre-paid card that has no sensitive information on it.
Additionally, transferring money from Paysafecard to your bank account is simple and quick; all you have to do is provide the relevant banking information to Paysafecard in the form of an Email.
When you’re depositing funds to your betting account via Trustly, you won’t have to register for a bank account (or input this information on the bookie website). All you have to do is proceed with a wire transfer from and to your bank account and the betting website of your choice.
These transactions don’t carry any additional cost and are a great choice for quick ‘Pay N Play’ betting.
Everyone’s favorite cryptocurrency is a pretty popular payment method for many punters today. We won’t go too deep into the story about cryptocurrencies here, nor Bitcoin, but you’ll be happy to know that a large number of betting operators do actually support Bitcoin betting.
All Bitcoin transactions are secure and fully encrypted, ensuring maximum security and anonymity with each transaction. On top of that, transactions take only a few minutes to process so waiting times are fairly low.
Revolut Betting FAQs
What is Revolut?
Revolut is an up-and-coming digital bank with a focus on minimizing the various financial fees and on providing the utmost security for customers. It’s been in business since 2015 but is now going through a transitory period in becoming a full-time digital bank.
Which is the best Esports betting operator that supports Revolut?
Currently, only 22bet and 888bet support Revolut as a payment method. Until more bookies start accepting it, these two are your best bet (no pun intended).
How long do Revolut deposits take?
It generally doesn’t take too long; in the worst-case scenario you’d have to wait for a few hours but usually, all transactions take just a few minutes to complete.
How long do Revolut withdrawals take?
They don’t take too long either; however, withdrawals generally take a bit longer so keep that in mind when deciding to withdraw your winnings.
Can you get a welcome bonus for using Revolut?
Absolutely! However, the process is slightly tedious to complete. You would first have to sign up to Revolut through an affiliate link, then pass the onboarding process, order a Revolut card, and make three successful transactions.
Esports Betting Pro: Our Revolut Betting Verdict
We get to the final part of this Revolut review – the conclusion and our verdict. The truth is, Revolut isn’t as outlandish as some other payment methods out there (looking at you NFTs). However, it appears that way simply because it isn’t widely accepted.
But the reason for this isn’t that Revolut is bad or anything; on the contrary, there are many benefits to using Revolut. The reason is that the whole company is moving into becoming a digital bank.
This process is slowly coming to an end and we expect many more betting operators to start accepting Revolut as a payment method. In conclusion, if you find out that Revolut supports your home country – and your favorite bookie supports Revolut Esports betting – definitely go for it and try it out!