The fintech company, Revolut has suspended all payments (deposits and withdrawals) from gambling sites in the UK. This move was made in accordance with the Gambling Commission’s review of online gambling, as well as the Government’s Review of Gaming Machines and Social Responsibility Measures.
Newly imposed requirements state how UK gambling companies can no longer accept credit cards and “money service businesses” like Revolut.
All Revolut users were introduced to this change in policies via email. The email states:
“From 14 April 2020, our UK customers will not be able to use their Revolut cards for any online or offline gambling payments in the UK. This decision is one which is beyond our control, but in the interests of clarity and honesty, we thought that you should know.”
It continues to describe that this restriction applies to “all non-remote general betting, pool betting and betting intermediary licenses, and all remote licenses. While many people gamble responsibly using a credit card, the aim of these new regulations is to help protect those most at risk from gambling money they do not have.”
While the ban on credit cards was widely reported in media, the ban on “money service businesses” passed under the radar, so it took many casino punters by surprise.