Venmo has established itself as one of the most popular payment methods among friends. You can easily pay for pizza, friendly bets on the golf course, fantasy football membership fees, and basically anything.
But now, mobile banking platforms have become a viable payment option for businesses across the country. This includes many of the major US sports betting apps, most of which accept Venmo payments through your sportsbook account.
Venmo on betting sites: Which sportsbooks accept Venmo?
Venmo, like Apple Pay and PayPal, can be used for deposits and withdrawals at top US sports betting sites. Whether you deposit through your Venmo balance or through a bank account connected to your Venmo account, sports betting sites will accept it.
This is a welcome development for many sports bettors, especially those who want their e-wallet to serve as the primary contributor to their Venmo sportsbook bankroll.
As with other payment methods, bonus bet balances cannot be withdrawn as winnings to your Venmo account. However, this is not an issue with Venmo and is part of the individual sportsbook’s terms and conditions (T&C).
Additionally, you cannot withdraw money or receive dividends through your sports betting account unless you have previously used it to deposit into Venmo.
Below is a list of the best Venmo betting sites and apps and links to each.
Deposit to DraftKings using Venmo
Using Venmo to make deposits or withdrawals at DraftKings is very easy, especially if you’ve made a deposit or withdrawal before. It’s also fast, as money moves in and out almost instantly. You can claim a DraftKings promo code when you make your first deposit using Venmo.
deposit:
Tap the icon with your DraftKings balance Select Venmo as your deposit amount and payment option Connect your Venmo account to DraftKings using your Venmo credentials Tap the “Deposit $X” button
If you’re already depositing money into Venmo with DraftKings, it’s even easier. Just tap your balance, select an amount, and slide the slider to the right to confirm your deposit.
The minimum deposit amount at DraftKings is $5. For unverified Venmo accounts, the deposit limit is $299.99. $4,999.99 per transaction or $19.999.99 per week for verified accounts.
drawer:
Tap on your account details Select “Withdraw” and select the amount you want to withdraw from your account Select Venmo as the withdrawal method and make sure your Venmo account is the one selected “Withdraw” Tap “Request”
DraftKings has no minimum withdrawal amount for Venmo users, but the maximum amount is $20,000. It says funds will be available within 1-2 days, but I found them to be available almost instantly.
Deposit to FanDuel using Venmo
Using Venmo as a banking method on FanDuel is very similar to using it on DraftKings. And like any other payment method, you can claim a FanDuel promo code when you use Venmo for your first deposit.
deposit:
Tap or click your account Tap or click the Deposit button Select the Venmo option under Quick Deposit Select the amount you want to deposit Once you press the Deposit button, you will be directed to the Venmo mobile app to confirm your deposit. will be displayed
drawer:
Tap or click your account Tap or click the Withdraw button Select the Venmo option under Fast Withdraw Select an amount, make sure the correct Venmo username is selected, then click Click “Withdraw funds”
Deposit to ESPN BET using Venmo
You can also claim the ESPN BET promo code DIME when you make your first deposit with Venmo.
deposit:
Tap or click on your account and select Deposit Select Venmo as your payment method Select the amount you want to deposit and click (Continue) ESPN BET will open the Venmo app on your phone where you can make the transaction. You can choose your bank or Venmo balance for transactions
During this process, you will receive a notification from ESPN BET that you can only link one Venmo account to your ESPN BET account and that it cannot be changed at any time.
drawer:
Tap or click on your account and select Withdraw Select Venmo as your withdrawal method Select the amount to withdraw (minimum $10) Click Continue to confirm withdrawal
Using Venmo as a banking method with bet365
Venmo is an accepted banking method at bet365 Sportsbook. This means you can make your first deposit using your online banking app and claim the bet365 bonus code SBDXLM.
deposit:
Click “Deposit” in the top right corner of the app. Select Venmo from the drop-down menu and select the amount (minimum $10). bet365 will send the transaction to your Venmo app for confirmation.
If you see a PaySafe pop-up on your screen when you open the Venmo app, it’s just the two apps connecting.
drawer:
Click or tap your account and select Withdraw Select Venmo from the dropdown menu Enter the amount you want to withdraw and click Continue
Deposit to Fanatics Sportsbook using Venmo
Your Venmo account can be used as a deposit and withdrawal method at Fanatics Sportsbook and will give you access to Fanatics Sportsbook promo codes.
deposit:
Click or tap your account balance in the top-right corner Select Venmo as your banking method Select the amount you want to deposit When Fanatics brings you to the Venmo app, confirm the transaction
The minimum deposit amount at Fanatics is $5.
drawer:
Click or tap the person icon representing your account Select Withdraw Select Venmo as your withdrawal method Enter the amount you want to withdraw and press the Withdraw button
Deposit to BetMGM Sportsbook using Venmo
Venmo is an accepted deposit and withdrawal method at BetMGM Sportsbook. You can use the Venmo app to make your first deposit at a sportsbook and claim your BetMGM bonus code.
deposit:
Tap or click the deposit button from the BetMGM homepage Select Venmo as your deposit method Enter the amount you want to deposit Once you click deposit, your transaction will be sent to the Venmo app to confirm
The minimum deposit to Venmo is $10 and the maximum deposit is $2,999.99.
drawer:
Tap or click your account and select Withdraw Select Venmo as your method Enter the amount you want to withdraw, confirm your email, and tap or click Withdraw
Deposit to Caesars Sportsbook using Venmo
Caesars is another sportsbook that accepts Venmo as a means of banking. You can make your first deposit with Venmo and claim the Caesars Sportsbook promo code SBD1000.
deposit:
Click or tap your account and select Deposit Select Venmo as your deposit method Enter the amount you want to deposit and click Send The transaction will be sent to the Venmo app to confirm
drawer:
Click or tap your account and select Withdraw. Select Venmo as your withdrawal account. Enter the amount and send.
Deposit to BetRivers using Venmo
You can use your Venmo account as your banking method at BetRivers and claim a BetRivers promo code on your first deposit.
deposit:
Click or tap the Cashier button, which also includes your current balance, and choose to deposit. Select Venmo as your deposit method. Enter the amount you want to deposit. Clicking the “Venmo” button will take you to the Venmo app to confirm your transaction.
drawer:
Click or tap the “Cashier” button, which also includes your current balance, and choose to withdraw money. Select Venmo as your withdrawal method. Enter the amount you wish to withdraw and submit.
Benefits of using Venmo for deposits and withdrawals on sports betting apps
The biggest advantage of using Venmo as a deposit and withdrawal method for online sportsbooks is convenience.
You don’t have to look up your bank account number (like you would with a bank transfer) or take your debit card out of your wallet. If you have the Venmo app loaded and active on your mobile device (Apple or Android), the sportsbook will switch to that app to confirm your deposit.
Using Venmo with online gambling apps is incredibly fast and easy, and your money will arrive in your account instantly.
Money flows quickly in the other direction as well, and in most cases, it hits your Venmo account almost instantly.
Venmo Rules and Limitations in Sportsbook Apps
Using Venmo as a deposit method at online sportsbooks is relatively easy, but it’s not without rules and limitations. Here are a few worth noting.
potential limitations
Whether you use Venmo or not, each online sports betting app has different limits on how much you can deposit at one time. Fortunately, the best sportsbooks will clearly list their limits when you are trying to make a deposit.
Have a backup Venmo account
Although Venmo is not a bank account, most sports betting apps require a backup account linked to Venmo, and it must be a bank account rather than a credit card.
Venmo already requires a backup, so this isn’t an issue for verified accounts. However, if you haven’t connected your bank account to your Venmo account, you may need to take additional steps.
processing time
There is always the possibility that your transaction will get caught up in the web, the internet server, and your deposit or withdrawal will be delayed. Sportsbooks typically address this situation by listing processing times for Venmo transactions as 1-2 days.
However, in my experience, Venmo transactions were almost instantaneous at all sportsbooks.
potential fees
There were no fees when depositing money to Venmo with online sports betting apps.
Venmo Sports Betting App Frequently Asked Questions
Do gambling apps accept Venmo?
yes. Venmo is accepted as a form of deposit and withdrawal by most legal online gambling apps.
How do I find a betting app that accepts Venmo?
As with almost everything, this page includes a list of our favorite sports betting apps that accept Venmo.
How long does it take for Venmo withdrawals at DraftKings?
Venmo withdrawals are almost instantaneous at DraftKings and most online sports betting sites.
How do I deposit money into FanDuel with Venmo?
FanDuel and other sports betting apps can connect to your phone’s Venmo app for quick and easy deposits and withdrawals.
Can I claim a sports betting bonus or promo code with Venmo?
You can also use Venmo to make your first deposit at a sports betting site and receive a welcome bonus. However, you cannot withdraw your betting bonus whether you use Venmo or any other banking method.
