As financial technology continues to evolve, few names have risen as quickly to prominence as Revolut. Even its name gives off the revolutionary vibe it aimed to be: a digital alternative to traditional banking. Used for all sorts of digital transactions, Revolut has also found itself becoming a favourite among gamblers.
As a response, lots of Revolut casinos have popped up, allowing players to join and make deposits with this relatively new method of payment. In this article, we’ll talk about the rise of Revolut and why it’s been great for online casino users.
What is Revolut?
Founded in 2015 by Vlad Yatsenko and Nikolay Storonsky, Revolut is a financial technology company that aims to disrupt traditional banking. It was initially launched in the United Kingdom but rapidly expanded globally to become one of the most influential financial companies in the fintech industry. In 2021, it became the most valuable fintech in the United Kingdom.
Revolut offers a plethora of financial services, all of which are designed to simplify the money management process. Here is what it offers:
- Digital banking: This company mainly operates as a digital bank. There is a suite of banking services available and all of them are accessible through the app. You can open an account really quickly and do everything you need to from your mobile. There’s never any need — nor any possibility — to visit a traditional bank.
- Currency exchange: One of the standout features of Revolut is its currency exchange facility. You can hold different currencies as balances all within your one Revolut account. This makes it a great option for international travellers and those conducting cross-border transactions.
- Analytics and budgeting: Users can also access financial analytics tools, which helps them track their spending and gain insights into their financial habits and set savings goals.
- Cryptocurrencies: Revolut also allows its customers to buy, hold and sell cryptocurrencies such as Bitcoin, Litecoin and Ethereum within the app.
- Savings and investments: Users can invest in ETFs, stocks and bonds from their accounts.
- Subscription packages: Users can purchase a subscription to gain access to enhanced features such as travel insurance, cashback and higher withdrawals.
- Business accounts: Small and medium-sized businesses can make use of Revolut business accounts.
The rise of Revolut in the casino industry
Recently, Revolut has gained traction as an efficient payment method in online casinos. Though the company was first focused on creating a modern banking system, it soon became apparent among casino players that it was an excellent payment method for extreme gaming 88.
There are many reasons why players are choosing this method for their deposits and withdrawals, such as:
Transactions are fast and convenient
One of the best things about using Revolut at online casinos is that it’s fast. Players can fund their accounts to play in a matter of seconds. There’s no need for entering long card numbers or waiting for bank transfers to appear.
Transactions are secure
When taking part in online gambling, security is important. There are a lot of unlicensed and unregulated casinos out there, which make themselves out to be legitimate but they’re not. Revolut payments offer an extra layer of security to protect players if they happen to fall foul of a bad site.
Revolut has an excellent app, which tells users exactly what they’ve spent and where. It provides real-time alerts on spending, which helps casino players to keep track of how much they’ve deposited, and promotes responsible gaming.
Anonymity during transactions
When you use Revolut to top up your online casino account, you never disclose any bank details to the casino, so you have improved privacy and anonymity.
Besides gaming, Revolut is versatile. It can be used for everyday transactions and spending, including investments. This adaptability means it is a valuable asset every day of the week.
Revolut’s reach means that people from all over the world can access its financial services, which makes it a popular choice for international gamblers.
How to use Revolut for casino transactions
It is straightforward to use Revolut at online casinos. Here is a step-by-step guide on how to use Revolut for this purpose:
- Create a Revolut account: If you don’t already have one, you’ll need to create an account by downloading the Revolut app on your phone and following the on-screen instructions. This requires entering your personal details and verifying your identity. If you already have a Revolut account, you won’t need to do this.
- Add funds to your Revolut account: Before you can make an online casino deposit, you’ll need to have funds in your Revolut account. You can do this by linking your bank account or transferring money into it.
- Choose your online casino: Select a reputable casino that accepts Revolut as a payment method. Register and log in.
- Go to the cashier section: Find the cashier section of your chosen online casino. You’ll need to be logged in.
- Make a deposit: Choose Revolut from the payment options and enter your account details and the amount you’d like to deposit. Confirm the transaction.
- Enjoy your gaming: Once the deposit has reached your casino account, you’ll be able to start playing real-money games. This will happen instantly in most cases.
Revolut has robust security features as you might expect from a top financial institution. These include:
- End-to-end encryption: All data transmitted between servers and Revolut uses industry-standard encryption protocols. If anyone managed to intercept any data, there’s no way of understanding it.
- Two-factor authentication (2FA): This is an added layer of security. Players can choose to receive a one-time passcode sent to their phone number to ensure transactions are secure.
- Biometric authentication: Revolut is compatible with biometric authentication on mobile devices.
- Geo-location security: The app recognises the user’s location, which can alert users if a transaction occurs in an unusual location.
- Transaction alerts: You can set up alerts to receive notifications whenever a transaction takes place or when a large amount of money is spent.
- Compliance: Complies with regulatory standards such as Know Your Customer (KYC) and anti-money laundering (AML) requirements.
- Monitoring: Continuous monitoring against vulnerabilities and security threats.
The future of Revolut in the casino industry
As Revolut continues to rise in popularity with online casino users, we can expect great things from this financial provider. It’s likely that the global reach of Revolut will expand further, making it available to more countries and regions. With more and more people recognising it as one of the best payment methods for online casinos, we can probably expect more gambling platforms to support it and offer exclusive promotions for its users. It’s also possible that more online casinos will accept cryptocurrency payments through the Revolut app too.
Revolut has a bright future in the online casino industry
Revolut is firmly established as a preferred payment method among many online casino enthusiasts. This is all thanks to its streamlined, fast transactions and user-friendly interface. Revolut is at the forefront of financial innovation and users can expect enhancements to its services as it continues to address the needs of its customers. Whether you’re new to online casino games or an avid fan, Revolut provides a great way of making casino transactions.