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There has been a swift increase in betting sites that accept Venmo as a payment method. We’re here to help you identify these sites for swift and secure payment!
Why is Venmo becoming so popular? The Venmo app is fast to use and it is owned by PayPal, so this alone gives customers trust in its reputation. This new and popular service is also only available to US customers. Keep on reading to find your perfect Venmo sportsbook!
Read our guide on how to make your very first Venmo transfer!
Open an account
You will have the option to either link your Venmo account through Facebook or to create a separate Venmo account. To use this as your betting site deposit option, you will need to provide your name, email address, and phone number.
Verify Your Identity
You will then be asked to verify your phone by sending a text. Once this is done, you will be able to connect your credit or debit card to the app. You also have the option to connect your bank account if you want to deposit your balance, but this isn’t compulsory.
Make a deposit with Venmo
It’s reasonably straightforward to make a payment to a US sportsbook that accepts Venmo. First, search for the pen and paper icon in the top-right corner of your screen. From there, you can click on it and fill in a payment form that includes the required details and an amount of your choosing. Once the Venmo-supported sportsbook operator accepts the payment, the amount you opted for will be withdrawn from your account. Now you can start sports betting with your new gambling BFF ―Venmo USA!
Make super-fast transfers with betting sites that accept Venmo
A fantastic reason for you to consider using betting sites that accept Venmo is that the transfer time is very fast. Venmo aims to process payment requests in 30 minutes max ― even on Thanksgiving and Christmas. So, the money should be deposited safely into your sports betting Venmo USA account almost instantly.
In theory, withdrawals using Venmo are possible and could have similarly short withdrawal times. However, while there is an increasing number of betting sites that accept Venmo in the US ― many of them sportsbook operators ― it’s unclear whether a withdrawal method will be available in the future despite its popularity.
For now, US customers using Venmo for sports betting can complete their withdrawals via bank transfer. Adding Venmo as a payment method is definitely something other online gambling providers can consider to accommodate their customers.
Why, you may ask? Because Venmo is a fantastic gambling site deposit option for safe and speedy payments, and that’s what all gamblers want!
If you want to use the app to successfully make deposits on Venmo sportsbook operators, you will need to fully verify your account.
Here’s how to start your journey with Venmo
To do this, you’ll need to provide your full name and date of birth. Venmo will also require your address, but not to worry ― this is just for security purposes like verifying your bank account details.
Finally, you’ll need to provide the last four digits of either your social security number or your taxpayer identification number. Venmo uses this information to verify that your identification and that you are a legally registered citizen. This helps to prevent fraud by diminishing the possibility of fake or multiple accounts.
So you need to provide extra information. What now?
In some cases, Venmo may be unable to verify your identity solely based on the abovementioned information. If this happens, you will need to provide additional proof of identity. You may, for example, be required to provide a valid US passport or driving license. In some cases, an SSN/ITIN assignment letter, or a tribal ID card are also accepted.
It can take up to three business days for the site to review additional information and verify your account. However, the site normally aims to have your account verified within 24 hours. After the verification process is complete, you should be able to continue using US sportsbooks that accept Venmo.
Why Venmo is online betting’s new best friend
The developers of Venmo originally met at the University of Pennsylvania in 2001. After graduating, Iqram Magdon-Ismail and Andrew Kortina spent their time building websites as a profession. During this time, the friends were also tossing around ideas for their own online business.
The original concept for Venmo was to sell music online, but this soon developed into the friends-turned-partners wanting to make it possible for anyone to pay anyone. They originally started the payment method using text.
However, they quickly realized that the list of transactions to various shows, bars, and restaurants was an exciting way to see what all their friends were up to. This is when the social side of Venmo and the ‘news feed’ aspect was incorporated.
After a lot of sweat and tears raising money from investors, a friend and his father eventually became the first backers of their business concept. Venmo was launched in 2009 as a feeless way to pay friends and an interesting way to stay on top of your friends’ daily activities.
In 2012, the app caught the attention of PayPal COO Bill Ready. Originally, Venmo was acquired by Braintree in 2012 but was later snatched up by PayPal for $800 million.
Today, Venmo is a top name in the growing peer-to-peer payment industry. Last year, it processed transactions of almost $18 billion ― 126% more than the previous year. It’s understandable why more and more Venmo sportsbooks are starting to appear.
This is why Venmo is one of the best payment providers
The main benefit of Venmo compared to similar payment providers is the transfer speed when actively betting.
Venmo instant transfers should take only 30 minutes to reach your Venmo gambling sites account. Standard transfers at a Venmo sportsbook will take between one and three days, which is still a reasonably short time period when compared to PayPal’s one to four or Google Pay’s one to five business days.
Your very own Venma Master Card
Another significant benefit of the app is that it offers its own MasterCard debit card for easy access to its Venmo balance. While some banks have suggested online methods and platforms like PayPal can be linked to your personal bank account, this is the only provider that offers its own debit card. This makes it easier to top-up your funds while sports betting with Venmo USA.
Yes, there’s a but
One downside to Venmo payments is when using a credit card. A 3% fee applies to all transactions through Venmo with a credit card. However, there are no fees for using a debit card or bank transfer to make payments. This means that, if using a credit card, Venmo sports betting might be more expensive than you’d originally have thought.
But the mobile app is great!
Venmo is also a great option with betting sites to pay by mobile. The app can be downloaded to your phone, making it easy to link your account with a US sportsbook that accepts Venmo.
Can’t use Venmo? Try these awesome payment methods!
There are several top payment methods to be aware of when placing deposits at any sportsbook. The top-rated operators and payment methods have reliable reputations and are guaranteed to be secure and legitimate.
Before becoming overly-attached to a specific payment method, however, make sure that your sportsbook operator has that option available.
The most popular payment methods alternatives for US sportsbooks that accept Venmo include VISA/MasterCard, bank transfer, e-wallets, and PayPal.
An important question is always whether the payment method is secure and legitimate. Top-rated Venmo betting sites will require a betting license. This automatically demands any US sportsbook that accepts Venmo to adhere to certain requirements concerning security and data encryption, which keeps your information safe.
A great benefit of online betting with Venmo that may cause a few sighs of relief is that you don’t need to provide any banking details to the online sportsbook. All you need to do is make a payment to your sportsbook using your Venmo USA account. This means that you can keep your banking information private when you bet Venmo.
As a subsidiary of PayPal, most betting sites that accept PayPal will also accept Venmo. When gambling using PayPal as your payment option, you may be offered Venmo as a form of payment on the following page. Sometimes, Venmo sportsbooks payments will have a link directly from the payment page. Read our guide to find your perfect Venmo sportsbook
💵 Is Venmo free to use?
Businesses associated with Venmo will not necessarily charge a transaction fee, even for credit card payments. However, this isn’t to say that you won’t encounter some charges when using Venmo on betting websites. Read our guide to see whether Venmo is the most cost-effective way to fund your bets or it is preferable to use alternative payment methods for sports betting.
💳 How do I make a Venmo payment at a betting site?
Making a payment through Venmo is currently only available via apps or mobile websites that are approved Venmo sportsbooks. To gain access to Venmo when betting, you are required to sign up for the Venmo app. Read our guide to find out what you need to do to put your money down at the best US sportsbooks with Venmo.
🎁Can I get a Venmo welcome bonus?
Many US sportsbooks will offer exclusive bonuses related to specific payment methods. When you are gambling using Venmo, it is worth checking whether sports betting using Venmo in the USA makes you eligible for various bonuses. Check out our guide that reveals what kinds of special offers and bonuses you can get while enjoying some sports betting Venmo USA-style.
🎰Are there any online casinos that accept Venmo?
Our guide has revealed that Venmo and sports betting make perfect sense. All of which suggests that this payment method could also be well suited to the best online casinos in the US. Check out our guide that will let you know whether Venmo is a good option for US casino gaming, or whether you should try an alternative payment method instead.
Whether you’re gambling using VISA or Venmo, it’s essential to make sure the site is secure. Not many customers experience problems when placing deposits at legitimate betting sites that accept Venmo. This is mainly due to the extra privacy that online betting with Venmo provides.
However, there are several ways to be extra careful when placing online deposits. Below, you can find some top tips on keeping your money safe while enjoying some Venmo sports betting.
License: Make sure that the US sportsbook you’re using is fully licensed. Don’t place any deposits with companies that don’t have a valid gambling license.
To gain a gambling license, companies have to follow strict regulations, particularly concerning data protection. All data processed by the sportsbooks have to be fully encrypted and stored securely. Companies that violate these requirements will have their licenses revoked. When sports betting with Venmo USA, the affiliated providers will be reliable.
Reputation: Check that the betting site that accepts Venmo has maintained a solid reputation over several years. While this does not mean that newer sportsbooks aren’t reliable, it can give you an idea of the service it provides. If a company has sustained its license along with a positive reputation from its customers, then it’s more likely to be reliable.
Reviews: Read through customer reviews. This is always a great option as it’s an unbiased and objective take and, therefore, provides more reliable feedback of betting sites that accept Venmo. Customers will usually be open about the things they don’t like about a casino.
If there aren’t any complaints regarding deposit payments, then there are most likely not many payment-related issues. This is, again, another solid indication of the quality of service provided.
Get the best bonuses at a Venmo betting site
When placing your first deposit for sports betting with Venmo USA, sportsbooks often reward you with a welcome offer. For many US Sportsbooks that accept Venmo, this will be in the form of a free bet. These are designed to encourage bettors to be more adventurous when wagering.
The following tips should give you a better idea of how to make the most from a free bet with betting sites that accept Venmo.
If it’s a matched deposit, take full advantage of it. Some free bets will be offered as a percentage of the deposit placed, up to a certain amount. In most cases, it’s worth making the highest available deposit to get the largest free bet amount available to you. This will give you the most money to play with when placing your free bets.
Try something new. Free bets are intended to allow customers to try out something different from their regular bets. This offers you the opportunity to get a risk-free bet. Free bets often have specific terms on what bets you can place. This may include accumulators or other specific bet types. If you’re used to playing it safe, then a free bonus is your opportunity to experience some higher-risk betting. The wagering requirements for free bets may include minimum odds for using the free bet. Your winnings will only be the profit, so you may as well take a bigger risk for the chance to make some significant winnings.
Always read the terms and conditions. All sportsbooks and offers will have particular conditions and wagering requirements. It’s essential to be aware of the specific requirements attached to your free bets. This includes the requirements for the free bet like the minimum odds. If you want to make the most of a free bet when betting sports using Venmo in the USA, then you need to know the terms and conditions. This will allow you to ensure that you are eligible for the offer and enjoy some Venmo sports betting that matches the specific requirements.
Top alternative payment options to Venmo
Sports betting with Venmo in the USA isn’t the only popular gambling site deposit option. That’s why it’s always good to know what other options are available. You can read about some of the different reliable payment methods alternatives that you can find at the majority of any US sportsbook that accepts Venmo below:
Debit card payments
US sportsbooks that accept debit cards are by far the most common. Debit card payments are often straightforward, fast, and have little or no fees. You simply need to enter your card details to make a direct deposit into your sportsbook account. Gambling using debit cards also lets you use this method for withdrawal at a growing number of betting sites.
Credit card payments
Credit cards such as VISA and MasterCard are also widely accepted. When gambling using VISA, take note that there may be an extra charge or additional fees for credit cards. The same applies to betting sites that accept MasterCard. Credit cards are usually only available for deposits.
E-wallets include options such as PayPal, Skrill, and Neteller. These are popular payment methods because of the transaction speed they are associated with. E-wallets offer versatile online casino quick withdrawal as well as instant deposits. Another benefit is the security offered by e-wallets, as you aren’t required to provide any bank details directly to the sportsbook. Online casinos with Apple pay or other methods also exist but, for some reason, they are less popular.
Conclusion – Final thoughts on Venmo sports betting
Though sports betting with Venmo in the USA may be a relatively new payment method, the number of betting sites that use Venmo is rapidly increasing due to it being a straightforward and secure payment method. You have that added benefit of not needing your banking details when using a Venmo sportsbook.
In most cases, there is only standard verification required when registering for your Venmo account. It’s quick and easy to set up and use, so why not look into making betting sites that accept Venmo your first choice? If you can’t get set up, then there are always US sportsbooks that accept debit cards and online casinos with Apple Pay. However, we doubt that you’ll have any trouble with Venmo at all.