Venmo is an online payment service that focuses on personal transactions between people. It has grown massively in popularity since its launch, and we have seen its introduction into the online gambling scene.
Like PayPal, which owns Venmo, it is an e-wallet you connect to your bank account. Once funds are placed in your Venmo account, you can instantly send money between people with zero fees attached. Its the convenience that sells, and the online gambling industry realizes its potential. For that reason, Venmo on online gambling sites is predicted to increase in the coming years.
At the time of writing, only FanDuel offers Venmo as a deposit and withdrawal option. However, you can use Venmo services indirectly to deposit funds on most online casino and sportsbook sites in the U.S. Read on to find out exactly how Venmo works and how you can deposit funds using its services.
Sportsbooks Accepting Venmo Sports Payments
If you feel ready to register to a Venmo sports betting site, here are the best fully licensed online sportsbooks our team recommends:
| 🏈Online Sportsbook | 🎁Welcome Bonus | 📱Mobile Apps | ☎️Live Chat Support | 💲Minimum Deposit | 🇺🇸 Available States |
|---|---|---|---|---|---|
| FanDuel | $1,000 Risk free bet | Both Android and iOs | 24/7 live chat support | $10 | AZ, CO, CT, IL, IN, IA, LA, MI, NJ, NY, PA, TN, VA, WV & WY |
| DraftKings | 20% deposit bonus up to $1,000 + $50 free bet | Both Android and iOs | Live chat support available | $5 | AZ, CO, CT, IL, IN, IA, KZ, LA, MI, NH, NJ, NY, OR, PA, TN, VA, WA, WV & WY |
| Caesars | up to $1,250 first bet on Caesars + 1,000 Caesars Rewards credits and Tier Credits | Both Android and iOs | 24/7 live chat support | $20 | AZ, CO, IN, IA, IL, KS, LA, MI, NJ, NY, PA, TN, VA & WV |
| Betway | $250 risk free bet | Both Android and iOs | Live chat support available | $10 | AZ, CO, IA, IN, NJ & PA |
| BetMGM | $1,000 risk free bet | Both Android and iOs | 24/7 live chat support | $10 | AZ, CO, IL, IN, IA, LA, MI, NJ, NY, PA, TN, VA, WV & WY |
Our recommended online sportsbooks offer incredible welcome bonuses, low minimum deposits, excellent customer service, and much more.
How We Rate Venmo Sports Betting Sites
There are many aspects to consider when looking for the best Venmo sportsbooks. Our team does thorough research to bring you the cream of the crop, but what exactly do we look at?
First and foremost, we look at what online betting sites offer Venmo as a payment method. At the moment, only FanDuel accepts its services. However, using different methods, Venmo users can still pay with their Venmo account. By getting your Venmo Mastercard, you can deposit funds into an online sportsbook account as a debit or credit card payment. This allows Venmo users to deposit funds into most online sportsbooks.
With so many options now available, we dive even deeper into each online sportsbook to see how they stand out from the rest. We look at gambling safety, customer support, welcome bonuses, sports markets, and app availability to bring you the best possible option. Here is a list of top Venmo sports betting sites to compare:
No Sweat First Bet Up To $1,000
- Promo Code: NO CODE REQUIRED
- Fast & Secure payouts
- Multiple bet types
No Sweat First Bet Up To $1,000
Up To $1,000 Deposit Bonus
- Promo Code: NO CODE REQUIRED
- Android & iPhone Mobile Apps
- In game betting
Up To $1,000 Deposit Bonus
First Bet Is On Caesars Up To $1,250
- Promo Code: GUSABFULL
- Caesars rewards
- In game-betting
New Player $250 Free Bet
- Promo Code: NO CODE REQUIRED
- Bet builder
- Cashout
New Player $250 Free Bet
Up To $1,000 In Bonus Bets
- Promo Code: GAMBLEUSA
- Android & iPhone Mobile Apps
- One game parlay feature
What is Venmo? Overview & History
Venmo is a free peer-2-peer payment provider app that is downloadable to most mobile devices. It was initially designed as a payment platform for personal transactions between friends. Users can see their payment history, chat with others, and even use emojis. It is similar to that of Neteller and Skrill but focuses more on the social interactions between customers. However, Venmo has expanded its services and now allows transactions like Uber, Uber Eats, and even Venmo sports betting deposits.
With its growing popularity, Venmo will keep expanding its services to new markets and platforms. More than 40 million people in the States use their services, and it is no wonder why online sports betting and casino sites are adding these payment options to their list. Sending money to your friends is instantaneous, but if you want to deposit funds to your online sports betting account, it might take between 1-3 days.
If you do not want to wait that long, users can use instant pay, which carries a small fee, but allows you to deposit your money instantly.
Benefits & Drawbacks of Using Venmo Sports Betting Sites
Venmo is a great payment platform that millions of people use daily. With its growing popularity, it has expanded its services to online sports betting deposits, bringing along some amazing benefits. However, the platform is new to this sector and has a few drawbacks. Let us look at the pros and cons of Venmo transactions on your sports betting account:
Benefits:
- Users can connect their already existing Venmo account to the online sportsbooks.
- Customers can add funds to their sports betting account within minutes by paying an extra fee for instant transfers.
- If the instant payment option is not used, customers will not be charged any fees when depositing money through a Venmo transfer or Venmo voucher.
- Depositing using your Venmo Mastercard, you do not have to give your personal banking details, which is safer.
- People can use Venmo as a quick way to transfer money to a friend that does sports betting to make a bet. This is if you want to avoid creating an account yourself.
- The Venmo app is straightforward to use, allowing easy and quick deposits.
Drawbacks:
- If you want to deposit money through Venmo on any site other than FanDuel, you will need a Venmo Mastercard. This needs to be ordered and can take a couple of days to reach you.
- Venmo has a social sharing service; if you want to avoid others seeing your activities, you must remember to switch it off.
- If you want to deposit free of charge, it might take 1-3 days to show on your online sportsbook account.
How to Venmo a Sportsbook
To use Venmo as a deposit method, you need to find an online gambling site that accepts Venmo. At the moment, it is only FanDuel that has a Venmo option. All you have to do is open a Venmo account, link your debit card, credit card, or bank account and add funds.
How to register and deposit funds:
- Signing up for FanDuel requires your personal details, name, username, birthday, email, phone number, home address, password, Social security number, and a few safety questions.
- After you have put down your details, accept the terms and conditions and register. After completing your registration, go to the “add funds” homepage. Here, you will find the Venmo pay option to deposit funds.
- FanDuel will ask you to scan a QR code on the screen using the Venmo app if you are using a computer. If you are depositing using the app, it will automatically redirect you to the Venmo app to confirm the payment. It is as easy as that!
Note: You must be over the age of 21 to legally play on FanDuel Sportsbook or FanDuel Casino.
While FanDuel is the only online sportsbook and casino that offers Venmo as a payment option, other betting sites offer other popular online payment methods that link with Venmo. For instance, some PayPal deposits for betting allow you to complete the transaction through Venmo.
Venmo Mastercard
If you can not or do not want to join FanDuel sports betting, there are many other online sportsbooks to choose from. You can register with any of our recommended sites and deposit funds using a Venmo Mastercard, as they do not offer Venmo deposit and withdrawal services. Ordering your Mastercard allows you to deposit funds into any online casino or sportsbook under the debit card/credit card section. This means you will need to wait for your Venmo card, which takes around 10 days. With the Mastercard, you will not use the Venmo app directly, but you can send funds from that wallet by entering your Venmo Mastercard details in the debit card deposit options.
This allows you to deposit and withdraw Venmo funds to most online sportsbooks and casinos.
Personal transfers
If you are not on FanDuel, Venmo users can always send their money to a friend that does sports betting so that they can place the bet for you. Because Venmo is so easy to send personal transactions between friends, it has become quite popular to send your betting money to a friend that has an online sports betting account.
Note: You must register to an online sportsbook yourself to be able to benefit from their amazing welcome bonuses.
How to Withdraw via Venmo Betting Sites
Fanduel also offers Venmo as a withdrawal option. If you feel like adding funds back to your Venmo account, simply click on the “withdrawal” option on Fanduel Fantasy, sportsbook, or casino.
Withdrawals can take up to 48 hours but might extend by another 24 hours if you withdraw late at night or when the server is very busy.
Processing Times and Fees
Peer-2- peer Venmo payments are instant. Making it super easy to send and receive money between Venmo users. However, the bank transfers to load funds onto your Venmo account can take 1-3 days.
This transaction is totally free of charge, but if you want the deposit to be instant, you will need to pay an extra fee of around 1.75%. For the Venmo Mastercard, deposits are instant with no fees attached.
Venmo withdrawals from online betting sites like FanDuel are fee free and take less than 48 hours. However, they can only be performed if you used Venmo as a deposit method.
Venmo Sportsbook Bonuses
The accompanied welcome bonus is one of the best things about making that first deposit on an online sportsbook. Every US sportsbook has them, no matter what online payments are used, and the same goes for Venmo payment methods.
Gambling sites offer these bonuses upon registration, so always make sure you read how their specific registration processes work. When you join an online sports betting site, you will automatically qualify for their no-deposit bonus (immediately available). Still, if you want to receive their official welcome bonus or free bets, you must make a real money deposit and enter a valid sportsbook promo code.
Here are some of the best betting sites and their welcome bonuses:
No Sweat First Bet Up To $1,000
- Promo Code: NO CODE REQUIRED
- Fast & Secure payouts
- Multiple bet types
No Sweat First Bet Up To $1,000
Up To $1,000 Deposit Bonus
- Promo Code: NO CODE REQUIRED
- Android & iPhone Mobile Apps
- In game betting
Up To $1,000 Deposit Bonus
First Bet Is On Caesars Up To $1,250
- Promo Code: GUSABFULL
- Caesars rewards
- In game-betting
New Player $250 Free Bet
- Promo Code: NO CODE REQUIRED
- Bet builder
- Cashout
New Player $250 Free Bet
Up To $1,000 In Bonus Bets
- Promo Code: GAMBLEUSA
- Android & iPhone Mobile Apps
- One game parlay feature
Venmo Betting Markets
Our recommended sites all allow customers to deposit Venmo funds either by direct service or through the Venmo Mastercard. So, with careful consideration, we have selected only the best online casinos and sportsbooks for you. Let us have a look at what you can expect when playing some of these sites
Sports Betting
Our recommended online sports betting sites offer some truly amazing sports and betting options. Here is what you can expect:
Sports Markets:
Betting apps like FanDuel, DraftKings and BetMGM offer some of the best online sports markets in the gambling industry. Bet on sports like NBA, NFL, NHL and Baseball across national, international and college leagues. Besides American sports, there is plenty more. Enjoy sports like soccer, tennis, golf, Formula 1, MMA, boxing, volleyball, darts, cricket, rugby and much more.
Betting options:
The betting options on these sites are just as extensive. Customers can enjoy all sorts of betting types along with exciting live betting and live streaming. Here are some of the most popular betting options on our top recommended sites:
- Moneyline
- Gameline
- Spreads
- Over/under & full/half time bets
- Futures
- Player and game props
- Parlays
- Round Robins
- Teasers
- Live Betting
Horse Racing:
FanDuel is the only online horse race betting site that accepts Venmo as a payment system. Online horse betting is a massive industry, and we can expect more betting sites to open their door to Venmo in the future.
However, if you are willing to use PayPal or Venmo Mastercard, it will give you access to many more online horse betting sites to enjoy, like TVG.
Daily Fantasy Sports:
DraftKings and FanDuel are the only fantasy sports betting sites that accept Venmo as a payment service. Fortunately, they are amongst the country’s top online fantasy sites, so there is no real need to look anywhere else. While FanDuel offers Venmo across their different sections, DraftKings only offers Venmo in their Fantasy sports betting section.
However, DraftKings does offer the most popular payment methods on their online casino and sportsbook, such as PayPal, so it will not be long until Venmo enters the scene.
You can expect the same sports markets on these fantasy sportsbooks as their online ones. Choose a sport, draft players into your team and try and win real cash prizes. Enjoy fantasy leagues against your friends or in tournaments.
Casino Games
If you prefer online casinos, you need to find an alternative to send money. Online casino giants such as BetMGM, Caesars, and DraftKings offer many secure payment methods. Customers can connect their personal bank account for a bank transfer or use their PayPal or other e-wallets.
Our top recommended online casinos offer a plethora of casino games. Enjoy hundreds of online slots, table games, and live dealer games delivered by world-renowned software providers such as NetEnt, IGT, and more.
Whether you prefer blackjack, roulette, baccarat, video poker, keno, craps, bingo, or even fish games, they have it all.
Users can also connect their credit or debit cards to Apple Pay. Venmo, compared to Apple pay, delivers many of the same benefits in the online betting community. As time passes, we will see a growth in online casinos accepting Venmo as a secure payment method.
Is Venmo Sports Betting Legal in the U.S.?
Venmo sports betting is totally legal in the U.S., but only in selected states. These states are Arizona, Arkansas, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Kansas, Michigan, Montana, Nevada, New Hampshire, New Jersey, Oregon, Pennsylvania, Rhode Island, Tennessee, Virginia, Washington D.C., West Virginia, and Wyoming. If you are older than 21 and reside in one of the regions mentioned above, you can bet online without a problem. All you need to do is follow the signup process and register for a Venmo online sportsbook.
Within these states, plenty of legal online sportsbooks offer incredible sports markets and betting options. However, only FanDuel offers Venmo as a legit payment option. It has shown to be a great success, and more online sportsbooks will follow suit in the future.
Play at Venmo Betting Sites Today!
Do you have a Venmo account with money ready to spend? Click on the links provided to gain access to the best Venmo betting sites in the U.S. All you need to do is follow the registration process, and deposit money using the Venmo option.
FAQ’s
Which sportsbooks can I Venmo?
FanDuel is the only online sportsbook allowing Venmo instant transfers. As Venmo expands its services, we can expect more online casinos and sportsbooks to add this payment service to their available deposit methods. Customers can always order the Venmo Mastercard to transfer funds using the debit/credit card option, which is available from most online betting sites.
How long do Venmo withdrawals take?
To withdraw your funds using the Venmo option on FanDuel, it can take up to 48 hours to reflect in your Venmo account. However, this might be extended for another 24 hours if you withdraw late at night or when the system gets flooded with customer transactions.
Do I need to pay fees for Venmo deposits and withdrawals?
Venmo charges zero fees when transacting with online sports betting accounts, Uber, or friends. That is why it has become such a popular payment system. However, if you want a Venmo instant transfer to any online betting site, you will need to pay a fee.
Are Venmo payments to sportsbooks safe?
Yes. Venmo is a fully secured and licensed payment service. It is owned by payment service giant PayPal which means it will adhere to the same standards its parent company is adhering to. By depositing money using Venmo, you will not have to give out any bank details.
Does FanDuel take Venmo?
Yes. FanDuel's online sportsbook and online Fantasy sports both accept Venmo as a payment method. However, you can not withdraw funds using Venmo.
Can I Venmo DraftKings Sportsbook?
Only their online fantasy sports section. DraftKings online sportsbook is yet to add Venmo as a payment option to their available list. However, at the rate Venmo is expanding, DraftKing and other online betting sites will start adding Venmo as a payment method.