Sportsbook Payment Methods: Venmo
You probably already use Venmo to split dinner or settle rent with a roommate, but it’s also showing up where you least expected: sportsbooks. It’s not just for peer-to-peer transfers anymore. Now that major sportsbooks like FanDuel, BetRivers, Caesars, and BetMGM accept Venmo, it’s become one of the more mobile-friendly ways to handle deposits and withdrawals in the sports betting industry.
Why? Because it’s fast, already on your phone, and doesn’t ask you to type out your bank account number just to place a bet. Instead of fighting with outdated online banking portals or re-entering routing codes, you just tap in the Venmo app, approve the transfer, and jump into live betting markets, maybe even line up a few same game parlays if you’re feeling lucky.
If you’ve been looking for a payment method that isn’t a hassle, Venmo payments are tough to beat.
BEST VENMO BETTING SITES – JUNE 2025
Want to know where Venmo deposits and withdrawals work smoothly? Here’s a quick cheat sheet on the best Venmo betting sites this month:
| Sportsbook | Venmo Available | Deposit Speed | Withdrawal Time | Promos |
|---|---|---|---|---|
| FanDuel | ✅ Yes | Instant | Under 24 hours | Bet $5, Get $200 in bonus bets |
| DraftKings | ✅ Yes | Instant | 24–48 hours | Up to $1,350 in bonus bets paid |
| Caesars | ✅ Yes | Instant | Within 48 hours | First bet refund up to $250 |
| BetRivers | ✅ Yes | Instant | 24–48 hours | 2nd Chance Bet up to $100 |
| BetMGM | ✅ Yes | Instant | 24 hours | Get Up to $1,500 Back In Bonus Bets |
These are the venmo sports betting sites worth bookmarking. They move fast, offer slick apps, and give new players a decent shot at bonus bets. As long as your Venmo account is verified, you’re good to go.
VENMO BETTING SITES OFFERING BONUSES
One of the nicer things about Venmo sportsbook payments? You won’t miss out on promos. Most betting sites that accept Venmo still let you claim sign-up perks:
- FanDuel: Bet $5, get $200 in bonus bets paid
- DraftKings Sportsbook: Up to $1,350 total with deposit + bet match
- BetMGM: Up to $1,500 back if your bet wins or loses
- Caesars: Bet $50, get $250 in site credits
- BetRivers: 2nd chance bet covered up to $100
Just make sure your deposit method qualifies. A handful of online sportsbooks still hide clauses about certain wallets not unlocking promo codes.
WHAT MAKES VENMO A UNIQUE PAYMENT METHOD?
Venmo didn’t start out as a sports betting tool. It was built for quick payments between friends, owned by PayPal but more mobile-first. That’s exactly why it’s catching on as one of the more modern sportsbook payment methods.
Instead of typing out a bank account number, you’re just linking through the Venmo app. And since most people already use Venmo regularly, it feels more natural than navigating clunky old systems like ACH transfers or third-party e-wallets.
Plus, if you’re used to fast-moving money on your phone, this fits right in.
HOW TO SET UP YOUR VENMO ACCOUNT FOR SPORTS BETTING
To use Venmo on any of the major online sports betting sites, you’ll need a verified Venmo account, not just one set up for splitting brunch.
Here’s how to get started:
- Download the Venmo mobile app
- Register using your name, number, and email
- Add a linked bank account or a debit card
- Verify your identity (usually with a photo ID)
That last step is key. Unverified Venmo accounts are capped at $299.99 per transaction. Once verified, you can deposit up to $4,999.99 per transfer and move up to $19,999.99 a week, which is more than enough for most sports bettors.
LINKING YOUR VENMO ACCOUNT TO A SPORTSBOOK
Once your Venmo account is ready, connecting it to your favorite online sportsbook is simple:
- Log into the sportsbook
- Go to the cashier or deposit area
- Select Venmo as your deposit method
- Approve the link through the Venmo app
Now you’re able to deposit funds, place bets, and even withdraw funds straight to your wallet, no toggling between sites or waiting for a bank to approve things.
VENMO DEPOSITS: WHAT TO EXPECT
Venmo deposits happen fast. We’re talking seconds.
Here’s what else to know:
- Minimum deposit: Usually $5 or $10 depending on the site
- Maximum deposit: $4,999.99 for verified accounts
- Funding source: You can use your Venmo balance, a linked bank account, or a debit card
- Processing time: Instant at most sports betting sites
Some online sportsbooks even let you use Venmo for buying deposit vouchers or transferring balances from other players, which makes it even more versatile.
VENMO WITHDRAWALS: TIMING AND LIMITS
Venmo’s a solid option for cashing out too, just not instant like deposits.
Here’s what to expect:
- Minimum withdrawal: Usually around $10–$20
- Processing time: Most take 24–48 hours after approval
- Withdrawal cap: Depends on the sportsbook, some like DraftKings Sportsbook go as high as $20,000
- One requirement: You’ll need to make at least one Venmo deposit before using it to withdraw
Keep in mind, not all betting sites that accept Venmo support it for cashouts. It’s always smart to double-check the cashier page before depositing.
SPORTSBOOKS THAT ACCEPT VENMO
Looking for a full list of sportsbooks accept Venmo? Here are the heavy hitters:
- FanDuel Sportsbook
- DraftKings Sportsbook
- Caesars Sportsbook
- BetMGM
- BetRivers
- ESPN Bet
- Fanatics Sportsbook
All of these legal online sportsbooks offer full Venmo payments integration. Some even have mobile perks or special promos aimed at Venmo users, just one more reason to choose Venmo over something more old-school.
HOW VENMO COMPARES TO OTHER DEPOSIT METHODS
Let’s put Venmo up against other deposit and withdrawal methods:
| Method | Deposit Speed | Withdrawal Time | Mobile-Ready | Fees |
|---|---|---|---|---|
| Venmo | Instant | 1–2 days | ✅ Yes | ✅ No extra fees |
| PayPal | Instant | 1–2 days | ✅ Yes | ✅ Free (mostly) |
| ACH Transfer | 2–5 days | 3–7 days | ❌ Desktop-heavy | ✅ Free |
| Debit Card | Instant | ❌ No withdrawals | ✅ Yes | ⚠️ Some charge |
| Skrill | 1–2 days | 1–3 days | ✅ Yes | ✅ Free |
| Play+ | Instant | 1 day | ✅ Yes | ✅ Free |
If you’re already betting on your phone, Venmo sports betting just makes sense. No extra logins. No bouncing between apps. No holding your breath while a bank account transfer lags behind.
PROS AND CONS OF USING VENMO FOR SPORTS BETTING
PROS:
- Speedy Venmo deposits and solid withdrawal times
- Simple mobile process, especially with the Venmo mobile app
- No added fees unless you're using a credit card
- Makes it easy to track gambling transactions and set limits
CONS:
- Not supported by all online sports betting sites
- Unverified Venmo accounts can’t move large amounts
- A few sportsbooks accept Venmo only for deposits, not withdrawals
It’s not perfect, but for most sports bettors, the pros are hard to ignore, especially if you're already using Venmo for everyday payments.
KEEPING GAMBLING PRIVATE WITH VENMO
Venmo’s social feed is fun, until you realize it might show you dropped $50 on a parlay. Fortunately, that’s fixable. Just go to your settings and switch your transactions to private.
Also, because Venmo payments ask for a linked bank account and verified identity, it naturally blocks anonymous betting or underage use, something regulators like, and something that adds a layer of security for you too.
RESPONSIBLE GAMBLING TOOLS + VENMO
Venmo doesn’t offer dedicated responsible gambling tools (which makes sense, as it’s not a sportsbook), but the app gives you a real-time snapshot of your activity. That alone helps you track patterns and stay on top of your spend.
Plus, most sports betting apps offer built-in tools:
- Deposit limits (daily, weekly, or monthly)
- Temporary or permanent self-exclusion
- Cool-off timeouts if you need a breather
And if you or someone you know needs help, call 1-800-GAMBLER. It’s always free, confidential, and open.
SO, SHOULD YOU USE VENMO TO FUND YOUR SPORTSBOOK?
If you’re already living through your phone, Venmo isn’t just convenient, it fits right in. It moves faster than an ACH, feels less clunky than an old-school eCheck, and keeps you in the flow of betting without extra logins or delays.
From bonus bets and promo access to quick Venmo withdrawals, this is one of the most practical ways to move money in and out of your sportsbook account, especially if you’re using apps like FanDuel, DraftKings Sportsbook, or ESPN Bet.
Just make sure your Venmo account is verified, your linked bank account is current, and that you’re on one of the betting sites that accept it.
If that’s the case? You can go from balance to bet wins in no time.
VENMO SPORTS BETTING FAQS
CAN I USE VENMO AT MOST ONLINE SPORTSBOOKS?
Only a handful of major sportsbooks offer it, DraftKings, FanDuel, Caesars, BetRivers, and a few others. The list’s growing, though.
DO I NEED A VERIFIED VENMO ACCOUNT TO DEPOSIT OR WITHDRAW?
Yes. If you want to avoid transfer limits and withdraw funds, you’ll need a verified Venmo account.
ARE VENMO BETTING APPS AVAILABLE FOR DESKTOP?
Venmo works best on your phone, but it technically works via desktop in a pinch, just not as smoothly.
WHAT’S THE ADVANTAGE OF VENMO VS. OTHER DEPOSIT METHODS?
It’s faster than ACH transfers, more flexible than credit cards, and better integrated with sports betting sites built for mobile.
ARE VENMO TRANSACTIONS VISIBLE TO MY FRIENDS?
By default, yes. But you can set gambling-related activity to private within the Venmo app settings.
CAN I USE VENMO AT ESPN BET OR FANATICS SPORTSBOOK?
Yes. Both ESPN Bet and Fanatics Sportsbook are sites that accept Venmo, and they include competitive betting bonuses.
IS VENMO BETTER THAN PAYPAL FOR SPORTS BETTING?
Venmo is often easier to use on mobile and feels faster. PayPal is more widely accepted, but if your favorite online sportsbook offers both, it’s a matter of preference.
DO VENMO PAYMENTS COUNT TOWARD WELCOME BONUSES?
Usually yes, unless the sportsbook’s terms exclude your deposit method. Venmo betting sites typically qualify.