Venmo Betting Sites-  Best Venmo Sportsbook Apps

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Venmo Betting Sites- Best Venmo Sportsbook Apps

Author: American Gambler Staff | Last Updated: October 4, 2023 | Fact Checked By: Josh Collacchi

Funding your account has never been easier, thanks to the emergence of Venmo betting sites.

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Founded in 2009, Venmo is a convenient peer-to-peer payment platform that allows users to effortlessly send and receive money to and from family and friends. It was acquired by PayPal in 2013, with a user-friendly platform and social media-like features that make transferring money more interactive and engaging. Users can link their bank accounts, credit cards, or debit cards to their Venmo accounts to streamline every transaction.

Venmo is one of the newest payment methods at the top betting sites. Many bettors prefer Venmo transactions over more traditional banking methods. Betting apps that accept Venmo have become a fast and efficient way to make deposits and cash out winnings.

Top Online Venmo Betting Sites & Apps

Venmo betting sites have recently become popular thanks to it being such a convenient payment method. While Venmo will likely become more widely available in the future, these are the top Venmo betting sites and apps currently:

  • DraftKings
  • Caesars
  • BetMGM
  • FanDuel
  • BetRivers

How to Sign up with Venmo

Sign up with Venmo is easy using the following steps:

Download the Venmo mobile app from the Google Play Store or App Store. Once the app is installed, tap on “Sign up with email or phone number,” then enter the information and choose a secure password. New users can also register using the “Sign up with Facebook” link. 

Venmo will send a verification code to the phone number provided, which they must enter before the account is activated. New users must then provide their first and last names and have the option to add a profile picture. 

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The last step is to link a bank account or credit/debit card to the new Venmo account, which is how transactions are funded on Venmo. However, Venmo may ask for additional information to verify your identity.

Before using the platform, new users should always read Venmo's terms and conditions. Venmo's customer support can assist if there are any issues during sign-up.

Once the account is set up, users can explore the app's features and send and receive money at betting sites that accept Venmo. 

You will find Venmo prominently displayed on all betting sites when you go to the payments section.

Venmo Betting Sites: Reviews & Ratings 

The top Venmo betting sites are legal and regulated in the U.S., offering some of the most generous sports betting promos and online betting markets. These are the best Venmo betting sites for deposits and withdrawals. 

DraftKings Sportsbook

DraftKings users rate it as one of the top Venmo betting sites. It was the first online sportsbook to launch in the U.S., with more than 1.5 million registered users. Players will find one of the most extensive selections of sports markets, with lots of promotions and odds boosts for most major sports. DraftKings Venmo deposits are available for instant funding and withdrawals but aren’t available in all states where DraftKings operates. 

Caesars Sportsbook

Caesars Sportsbook is well-regarded in the online betting industry for its extensive offerings and user-friendly platform. With various sports and betting options, competitive odds, and an intuitive interface, it caters to both beginners and experienced bettors. The mobile app adds convenience, making it an exciting choice for all types of sports betting. Caesars Venmo transactions are quick and easy for both deposits and withdrawals. 

BetMGM Sportsbook

BetMGM Venmo deposits are accepted at one of the country’s oldest and most trusted gaming providers. BetMGM offers new players one of the top welcome bonuses and many recurring customer promotions. BetMGM Venmo initial deposits automatically enroll new players in the lucrative MGM Rewards program, where they can receive points based on their level of play that they can redeem for special perks and discounts at BetMGM properties. 

FanDuel Sportsbook

FanDuel is one of the leading Venmo betting sites in the country and is partnered with the top sports franchises and leagues like MLB and the NBA. New customers who make a FanDuel Venmo deposit will receive a lucrative welcome bonus when depositing as little as $5. FanDuel was one of the first betting sites to provide Venmo as a payment option, making transactions safe and easy.

BetRivers Sportsbook

BetRivers is another top betting operator that accepts Venmo for hassle-free deposits and withdrawals. Players will find some of the most competitive odds in the industry, along with various odds boosts and customer promotions. BetRivers also features a large number of sports markets and bet types. However, Venmo betting isn’t available to customers in New Jersey. 

Pros & Cons of Using Venmo at Betting Sites

As with any banking method at online betting sites, Venmo has advantages and disadvantages for players who prefer using it to fund their accounts and receive payouts. 

One of the pros of sports betting with Venmo is that deposits are secure and usually processed instantly. Using Venmo is as simple as connecting a Venmo account to the player’s online betting account. Payouts are typically processed within 48 hours, and no fees are involved. 

The only cons of using Venmo are that players must connect their account to a bank account as a backup payment method. Also, Venmo’s maximum transaction limit of $5,000 may not make it a suitable banking method for high rollers. 

Is Venmo Safe to Use for Online Gambling?

Venmo is owned by PayPal and is a regulated and safe method of transferring funds for online betting. The platform employs encryption software for every transaction to protect account information and offers an extra layer of protection using two-factor authentication and a PIN to access the account. 

Before players make transactions using the Venmo app at online betting sites, they must verify their account by providing a valid form of ID. Players must upload documents to Venmo to verify their identity, which takes up to two business days. Once the account is verified, players can use their new account to make deposits and cash out winnings at betting sites that accept Venmo. 

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Venmo also has a Purchase Protection Program for certain online transactions. This includes purchases using a Venmo Debit Card at specific online merchants and payments sent to any business or personal profile tagged as a purchase using the Pay and Request feature. Venmo also offers fraud protection in limited instances, but money sent using the app isn’t protected in most situations.

As long as players take the necessary precautions to protect their account information, Venmo is a safe method to use at online betting sites. This includes using a strong password and unique PIN to access the account and avoiding transactions with unknown individuals. Also, users shouldn’t leave a large amount of money in their Venmo accounts. 

Bonuses and Promotions on Venmo Betting Sites

Bet $5, Get $200 in Bonus Bets + No-Sweat SGPs

The DraftKings new customer bonus is bet $5 and get $200 instantly in bonus bets. Furthermore, with a DraftKings promo code, new customers can also claim a no-sweat bet worth up to $150, meaning if your bet doesn't win, DK will reimburse you in site credit.

Bet $50, Get $250 in Bonus Bets

Caesars Sportsbook gives new players an extra $250 in bonus bets for an initial minimum wager of at least $50. The first bet must have minimum odds of -200, and players will have seven days to use the bonus bets. Caesars also features a wide range of odds boosts and promotions for existing customers. Use Caesars Sportsbook promo code JULIUSGET during sign-up.

Up to $1,500 Back if You Don't Win

You can use BetMGM bonus code AMERICANGAMBLER to claim of up to $1,500 back in bonuses if your first wager is a loser. The only downside to this offer is that the player receives no signup bonus if the initial bet is successful. BetMGM offers many customer features, like early cashouts, live betting, and same-game parlays. It also features the popular BetMGM Rewards, an industry leader in customer loyalty programs.

Bet $5, Get $200 in Bonus Bets

With a FanDuel promo code, new players get a welcome promotion of $200 in bonus bets on a minimum first wager of $5. Bonus bets and the discount code will be awarded within 72 hours of placing the initial wager. FanDuel Sportsbook also has ongoing player promotions and contests focused on the major U.S. sports markets.

Up to $500 in Second Chance Bets

New players will be eligible for a 2nd chance bet of up to $500 if their first wager is unsuccessful using the BetRivers promo code ‘sports’ when making their initial deposit. BetRivers also boosts the player experience with daily and weekly promotions and features the lowest wagering requirement in the industry. Bonuses at BetRivers only require a 1x playthrough before winnings can be cashed out. It's worth noting that this offer varies depending on your location (not the same in all states).  

Venmo Transaction Details — Wait Times, Fees, and Limits

Using Venmo to send and receive money is fast and easy at Venmo betting sites. Players aren’t required to provide bank or credit card details, which keeps personal information secure. Not many banking methods offer the convenience, speed and security of Venmo. 

Depositing at Venmo sports betting sites is easy once the account is set up and linked to a bank account or credit card. Players using Venmo for the first time must log into their Venmo account to complete the transaction. 

Deposits at online betting sites that use Venmo are completed instantly, and there are no fees associated with this method. Withdrawals can only be made using Venmo if the player used it to make their initial deposit. Transactions take between 24 and 48 hours to be processed. The maximum amount per Venmo transaction is $5,000. 

Venmo Betting Sites & Apps FAQ

American Gambler Staff