🍒 Sports bettors certainly aren’t shy of options when working their way through US bookmakers. Premier sportsbooks provide an array of betting markets and events, along with numerous payment options, such as Venmo. This guide highlights the best Venmo betting sites currently available.
- 1 Best Venmo Sportsbooks in the US
- 2 What Is Venmo?
- 3 Overview of Legal Venmo Betting Sites
- 4 How We Rate Venmo Sportsbooks
- 5 ✅How To Place Bet on Betting Sites That Accept Venmo
- 6 𒆙How To Withdraw on Sports Betting Sites That Use Venmo
- 7 Pros & Cons of Using Venmo for Betting
- 8 Venmo Alternative Betting Options
- 9 ThePuntersPage Final Say
- 10 FAQs
Best Venmo Sportsbooks in the US
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Full T&Cs apply. Gambling problem? Call 1-800-GAMBLER |
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Full T&Cs apply. Gambling problem? Call 1-800-GAMBLER |
What Is Venmo?
🎃 Founded in 2009 and bought by PayPal in 2013, Venmo is a mobile payment service that allows users to easily transfer their funds between private parties.
You can make purchases with your Venmo debit or credit card, and send/receive payments🃏 using your email or phone number through a variety of available payment methods. This digital wallet is also incredibly useful when you need to split fares with friends.
Additionally, there’s a social element⛄ to Venmo, where as a user, you can view your friends’ public transactions and offer reactions via ‘emoticons’.
It’s only available in the USA and is compatible with both Android and iOS.
Overview of Legal Venmo Betting Sites
While Venmo betting sites are not yet ubiquitous, some of the US’ leading sportsbooks☂ allow users to deposit and withdraw funds via this payment method. Here’s an overview of the leading options:
DraftKings
Regarded as one of the pioneers for US sports betting, DraftKingsꦇ offers Venmo as a payment option. Both your Venmo and DraftKings account must be ID-verified, and your personal information in both accounts must match before you can begin depositing funds.
🌱 Venmo deposits are processed instantly, while withdrawals can take up to two days. Meanwhile, enjoy a superb sportsbook laden with offers, and earn $150 in bonus bets from your first $5 wager!
- Venmo deposits processed instantly
- Rigorous ID process bolsters security
- High maximum Venmo withdrawals at $20,000
- 48 hours Venmo withdrawal time is fairly long
- Venmo is not permitted in all jurisdictions
FanDuel
FanDuel💎 label themselves as ‘America’s #1 sportsbook’ and, in truth, that’s a claim we can’t dispute. Immensely popular among its users for its easy-to-navigate interface and array of exciting sportsbook promotions, FanDuel is a sports bettor’s dream.
✅ Venmo deposits are rapid and withdrawals are quicker than most. The limits are high as well, so high rollers will be satisfied. $200 in bonus bets greet new customers, with a mere $5 bet required to unlock the bookie’s high-value welcome offer.
- Venmo deposit can unlock excellent welcome offer
- High Fanduel Venmo maximum deposits
- Venmo withdrawals are processed almost instantly
- Must download mobile app to make first Venmo deposit
BetMGM
Annoyed that your first bet with BetMGM꧒ lost? Fear not, the sportsbook will then reward you with up to $1,500 in bonus bets — that’s some compensation! This offer gives new users the chance to go big with their maiden BetMGM bet. It’s a win-win situation, and Venmo deposits qualify, so don’t you worry about that.
𒈔 The payment service is one of many available here, with the bookie offering efficient deposits and withdrawals, as well as a clean betting experience often boosted by frequent promotions.
- Huge welcome bonus of up to $1,500 in bonus bets
- Efficient Venmo depositing and withdrawing processes
- Withdrawals usually received within 24 hours
- $10 minimum deposit is higher than both FanDuel and DraftKings’
How We Rate Venmo Sportsbooks
💎 There are a bunch of factors to consider when assessing and rating Venmo betting sites. Here are some of the most important:
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Deposits🌠 — We assess the ease at which Venmo deposits can be made, as well as the minimum/maximum deposit limits in play.
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Payout Time🅰 — Sportsbooks will typically display how long withdrawals take with each of their available options. A swift payout time is always preferred.
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Bonusesꦿ — Every sportsbook will offer bonuses of some sort, but some might not allow Venmo deposits as an eligible payment option. A high-value welcome offer is desired, as are an array of promotions covering multiple sports.
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Support🌊 — We’ll test out the support systems in place by asking for a query to be resolved.
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Security💜 — A site’s security can typically be gauged during the registration process, based on whether verification is required. We also consider emphasis on responsible gambling.
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Betting Options🥃 — Once we’ve created an account and made our first deposit on the Venmo betting site, we can then assess all the betting options at our disposal. We’re looking for a broad and sophisticated sportsbook with features that enhance our betting experience.
How To Place Bet on Betting Sites That Accept Venmo
Here’s how you can go about placing a bet with Venmo betting sites:
ꦛ Access the Venmo betting site of your choice either on mobile or desktop. Log in to your account or create one if you haven’t already.
🍨 Before placing a bet, you must fund your account by depositing with Venmo.
﷽ Access the sportsbook’s banking tab and add funds using Venmo.
🦂 You’ll have to sign in to your Venmo account to connect it to the sportsbook.
🃏 Once you’ve made your deposit, you’ll have the entire sportsbook at your disposal. Access the part you’re interested in by scrolling through the A-Z menu. Popular and trending events will be prominent on the homepage.
🅠 Click on the event and market you wish to bet on. Once that's done, you should see that wager appear in your bet slip.
🌳 Access your bet slip and enter the amount you wish to stake on this bet.
🅺 To conclude the process, click ‘Place Bet(s)’ — or the button that reads something along those lines, depending on the Venmo betting site you’re using.
How To Withdraw on Sports Betting Sites That Use Venmo
💟 Let’s hope you’ve got yourself in a position to withdraw having rinsed the bookmakers! Venmo withdrawals are easy and stress-free — here’s the process you’ll need to go through:
🌳 By making a deposit with a Venmo betting site, you would’ve already linked your Venmo account to the platform in question.
💞 With your account linked, the process is swift. You’ll merely need to confirm how much you wish to withdraw into your Venmo account.
Click the ‘Withdraw’ button.
♌ Expect to see your funds in your Venmo account within 24-72 hours of your withdrawal request.
Pros & Cons of Using Venmo for Betting
𝔉 It’s important to weight up all the benefits and drawbacks before opting for a particular payment method. Here’s what you should consider before you use Venmo for sports betting:
- Easy to link Venmo account — Linking your Venmo account to your betting account is a quick and easy process which merely involves identity verification.
- Swift transactions — Once your Venmo account has been set up (and is an available payment option on a betting site), deposits are processed instantly. Withdrawals typically take no more than 48 hours and can be instant in some cases.
- Strict security — Although Venmo can be a fairly public payment service, there are tools in place to ensure transactions can be processed privately and securely. Your Venmo card is not connected to your personal bank account, meaning you’ll never need to provide bank details when using Venmo to deposit/withdraw funds.
- Absent from bank statement — As your Venmo card/account isn’t connected to your bank account, any gambling transactions will never appear on your bank statement.
- Social aspect — Venmo’s social feed displays what their users have sent money for and to whom. Some might not want this information displayed publicly or even revealed to friends. However, there are settings on Venmo which can ensure your transactions aren’t made public.
- Fees — There are fees involved when using Venmo, but none are related to sports betting. So, you won’t be charged by sportsbooks or Venmo when depositing and withdrawing funds with a bookmaker.
Venmo Alternative Betting Options
𓃲 As previously noted, while Venmo is a payment option offered by some of the US’ premier sportsbooks, it’s certainly not yet a popular method for sports bettors. Below are some of the alternatives at your disposal when depositing/withdrawing funds:
Debit Cards
♏ The overwhelming majority of sportsbooks will accept Mastercard and Visa debit cards as a valid payment option. It’s perhaps the fastest and most convenient method around given the absence of transaction fees and the ease at which you can link your debit card to a betting account. Payments are typically processed swiftly, and most bonuses offered by bookmakers list debit cards as an eligible payment option.
Credit CardS
𒈔 While credit cards are no longer a legal payment option in the UK, they are still accepted in the U.S. Leading bookies such as BetMGM, FanDuel, and DraftKings all allow credit cards to be used on their sites. This option is popular given the absence of fees, the security involved, and the rapid transaction times. However, there are responsible gambling concerns given that you’re not betting with your own money.
e-Wallets
🥀 There are plenty of e-wallets that can be used on betting sites. The most notable one is PayPal, which is accepted on the vast majority of online sportsbooks in the U.S. Strong security and efficient transactions have seen its popularity soar.
ꦦ Skrill and NETELLER are also widely available, but transaction fees are more common with these two options, making them less popular.
ThePuntersPage Final Say
🅷 Having been around the block for quite some time, Venmo is now widely available among US sportsbooks. Given the absence of fees, speedy transactions, and ease at which your Venmo account can be linked to a betting site, we don’t see any reason why this e-wallet can’t gain even greater prominence as online sports betting becomes even more widespread.
FAQs
🌟Venmo is a secure and reliable payment service which is owned by the reputable PayPal. With over 80 million users, Venmo has gained a reputation for providing safe and secure transactions, so sports bettors should feel no different.
⛄Venmo deposits typically arrive in your betting account instantly.
💟Venmo withdrawals are usually processed between 24 and 48 hours.
✱DraftKings Venmo withdrawals can take up to 48 hours.
💫There are no fees involved when depositing or withdrawing with Venmo on a betting site.
𒈔Venmo is certainly legal and has been made available by some of the leading betting sites in the USA.