Written by:
Alex Windsor
Fact checked by:
Oliver Dickinson
Updated:
February 6, 2024

Best US Betting Sites That Accept Venmo

Venmo Betting Sites

Venmo is a popular online payment system with more than 90 million users across the United States. It allows you to easily send, receive and store money, making it a popular banking option accepted by many top online sportsbooks around the country. In this guide, we highlight several of the best Venmo betting sites currently operating. Our experts dive into how Venmo works for sports betting, and why it continues to grow more popular as a sportsbook cashier option.

We at MDBS have looked over nearly all of the top US betting sites and narrowed down four of the best ones that allow for Venmo deposits and withdrawals. Each of these sites is world-class, providing a great selection of odds, modern designs, and secure banking systems. Continue reading to learn more about these Venmo sports betting sites, and discover what makes them stand out in such a competitive market.

How Venmo Online Betting Works in the US

Venmo was founded back in 2009 as a way for its founders, Andrew Kortina and Iqram Magdon-Ismail, to quickly transfer funds to one another via SMS. This platform was eventually turned into a mobile app and its founders promoted it as an effective way for users to send and receive money. Venmo has grown more popular each year and now acts as one of the country’s most popular money transfer and storage platforms.

The US sports betting industry began to expand rapidly shortly after the removal of PASPA in 2018. It didn’t take long for many legal US online sports betting sites to accept Venmo as a sportsbook banking option. The ability to send and receive money using Venmo makes it an excellent option for depositing and withdrawing funds for sports betting.

To use Venmo as an online sports wagering deposit option, users must first create a Venmo account. This is easy to do. This payment platform requires some basic personal information to verify your identity, and users must connect a bank account to their Venmo account. Members of a Venmo betting site can then use this payment option to transfer funds into their accounts.

Withdrawing funds using Venmo is simple, too. Once your Venmo account is connected to your sports betting account, it becomes possible to request a payout. The quick transaction times, extremely low fees, and a huge user base have pushed many sports betting platforms to begin accepting this payment system as a way for customers to deposit and withdraw their funds.

Online Betting Sites Accepting Venmo

DraftKings Sportsbook

4.8/5
  • Minimum deposit $5
  • Sleek and easy-to-use user interface
  • Plethora of betting options
  • Range of regular promotions
  • Limited withdrawal options
  • Needs a better rewards system
Bet $5, Get $150 In Bonus Bets
Play Now

FanDuel Sportsbook

4.7/5
  • Minimum deposit $10
  • Vast coverage of sporting markets
  • Supports ewallets & traditional payment methods
  • Promotions are kept exciting
  • App layout is a bit cramped
  • No NFL live streaming
No Sweat First Bet Up To $1,000
Play Now

BetMGM Sportsbook

4.6/5
  • Minimum deposit $10
  • Plenty of payment methods available
  • Well-designed Android & iOS app
  • In-Game wagering
  • Football live streaming is not available
  • Customer service contact has to go through FAQs
Bet $5, Get $150 in Bonus Bets
Play Now

Caesars Sportsbook

4.4/5
  • Minimum deposit $10
  • Reliable and user-friendly app
  • Most lucrative first bet promotion in the market
  • Huge market depth and coverage
  • Best rewards program in the industry
  • Experience can vary per state
  • Frequently changing its features
$1,000 First Bet on Caesars
Play Now

Venmo has gone through many changes since launching in 2009. It was acquired by Braintree for $26.2 million in 2012. Just one year later, PayPal purchased the company for a staggering $800 million. Today, Venmo has more than 90 million users and stands as the second most-used online payment processor in the United States.

Below, our team highlights five of the very best Venmo betting sites currently operating.

Best Venmo Sports Betting Sites:

🥇DraftKings Sportsbook – Best for Betting Variety

DraftKings Sportsbook has been one of the biggest and most popular online sportsbooks since entering the US sports betting industry back in 2018. It has grown steadily, providing its members across 24 states with a huge number of excellent features. Members of DraftKings Sportsbook can wager on all of the most popular sports leagues in the US such as the NFL, NBA, MLB, and NHL, as well as smaller and more internationally popular sports such as cricket, rugby, and darts.

There is no doubt that DraftKings Sportsbook stands as one of the best Venmo betting sites currently operating. It allows for both deposits and withdrawals to be made using this payment processor. Venmo deposits are processed instantly and payouts using Venmo can take up to just two days. Click our “Play Now” link to visit DraftKings today and discover why millions of Americans use this wagering platform to bet on their favorite sports each year.

✅Pros:

❌Cons:

DraftKings Sportsbook

4.8/5
  • Minimum deposit $5
  • Sleek and easy-to-use user interface
  • Plethora of betting options
  • Range of regular promotions
  • Limited withdrawal options
  • Needs a better rewards system
Bet $5, Get $150 In Bonus Bets
Play Now

🥈FanDuel Sportsbook – Best for Live Sports Betting

FanDuel is another one of the biggest and best online sportsbooks in the US. It began as a DFS operator, yet launched an online sports wagering product in 2018. Today, FanDuel operates in 20+ states and boasts more than 19 million users.

Members of FanDuel have access to wagering options on a huge variety of sports. It also features a world-class live betting platform that allows users to wager on events as they are taking place. We are very impressed with FanDuel’s live streaming options, offered through FanDuel TV, too. Click our “Play Now” tab to visit FanDuel today and become eligible for a generous welcome bonus offering $150 in bonus bets when you make a $10 Venmo deposit.

✅Pros:

❌Cons:

FanDuel Sportsbook

4.7/5
  • Minimum deposit $10
  • Vast coverage of sporting markets
  • Supports ewallets & traditional payment methods
  • Promotions are kept exciting
  • App layout is a bit cramped
  • No NFL live streaming
No Sweat First Bet Up To $1,000
Play Now

🥉BetMGM Sportsbook – Best for Beginner Bettors

BetMGM Sportsbook went live in 2018, shortly after the removal of PASPA. Today, it operates in more than 20 states around the country. BetMGM is a very modern-looking online sportsbook, yet has a design and user interface that is perfect for those new to sports betting.

Our experts agree that BetMGM Sportsbook is one of the top online sportsbook platforms accepting Venmo for deposits and withdrawals. The minimum deposit amount here is $10. The minimum withdrawal when using Venmo is $20. Sports fans looking for a modern, easy-to-use online sportsbook that accepts Venmo as a banking option can click our “Play Now” tab and visit BetMGM and become eligible for a generous welcome bonus offering a 100% first bet refund of up to $1,500.

✅Pros:

❌Cons:

BetMGM Sportsbook

4.6/5
  • Minimum deposit $10
  • Plenty of payment methods available
  • Well-designed Android & iOS app
  • In-Game wagering
  • Football live streaming is not available
  • Customer service contact has to go through FAQs
Bet $5, Get $150 in Bonus Bets
Play Now

🎖️Caesars Sportsbook – Best Rewards Program

Caesars Sportsbook is the sports betting product offered by Caesars Entertainment, one of the largest and most powerful gambling and entertainment companies in the United States. After acquiring William Hill’s US assets in 2021, the Caesars Sportsbook app was launched and now operates in 20 states. It has grown hugely popular thanks to its impressive selection of betting odds, modern design, and world-class rewards program.

That rewards program, called Caesars Rewards, is perhaps the most impressive feature of this online sportsbook. It allows all members, from first-time users to longtime high-rollers, to earn generous perks year-round. Some of those perks include free accommodation at Caesars’ Casinos, dining credits, and more. Those interested in learning more about this wagering platform can click the “Play Now” button, make a $10 Venmo deposit, and check it out today.

✅Pros:

❌Cons:

Caesars Sportsbook

4.4/5
  • Minimum deposit $10
  • Reliable and user-friendly app
  • Most lucrative first bet promotion in the market
  • Huge market depth and coverage
  • Best rewards program in the industry
  • Experience can vary per state
  • Frequently changing its features
$1,000 First Bet on Caesars
Play Now

Why We Selected These Venmo Betting Sites

Our betting site testers have years of experience reviewing and rating the top online sportsbooks operating throughout the United States. To narrow down the best Venmo betting sites, we looked for online sportsbooks that accept this payment option for both deposits and withdrawals. We also ensured these betting platforms provide other important features that bettors would look for. Below, we highlight the important features that each of our favorite Venmo betting sites provide to their members.

How to Deposit with Venmo at Online Betting Sites

In recent years, Venmo has turned into a very effective system for depositing money into online sportsbooks. Of course, before an online sportsbook deposit using Venmo can be made, users must first create a Venmo account. The registration process is simple and involves stating your primary purpose for using Venmo, providing some personal information to verify your identity, and linking your bank account. Venmo users can also request a Venmo MasterCard debit card, which is linked to their Venmo account and acts as a traditional bank debit card.

After creating a Venmo account, users can use this payment processor to fund their online sportsbook account. The steps below detail exactly how that process works.

  1. Choose from one of the Venmo sports betting sites featured on this guide.
  2. Click the “Play Now” tab featured next to the betting site of your choice.
  3. Register for the online sportsbook you have selected.
  4. Verify your identity with the chosen online sportsbook.
  5. Allow your chosen online sportsbook to geolocate you.
  6. Visit your online sportsbook’s cashier page.
  7. Select the “Venmo” deposit option.
  8. Make a deposit using Venmo above the minimum requirement.

Venmo Minimum and Maximum Deposit Limits

Every online sportsbook has the ability to set its own minimum and maximum deposit limits. Minimum deposit requirements generally range from $5 to $10. Maximum deposit limits can vary greatly, from a few hundred dollars to several thousand. These limits are sometimes subject to state restrictions, as well. Let’s take a look at the Venmo minimum and maximum deposit limits set by one of the most popular online sportsbooks in the country, DraftKings.

It’s always recommended to check if the state you are located in sets specific deposit limits. Many sports betting platforms, including DraftKings, also allow users to set their own deposit limits as a way to prevent problem gambling.

How to Withdraw From Venmo Betting Sites

Generally speaking, withdrawing money from an online sportsbook using Venmo is just as easy as depositing funds. Assuming you have joined an online sportsbook that accepts Venmo, this option will be clearly featured on the Cashier page. In almost all cases, withdrawals take longer than deposits. Online sportsbooks will sometimes request an additional ID verification before a payout can be initiated, as well.

That is not to say that this withdrawal option is difficult. Once you have officially verified your identity with your chosen sportsbook and have a Venmo account created, a payout can be requested in just a couple of minutes. The steps below explain how this process works.

Withdrawal Processing Times

Sports betting withdrawals almost always take longer to process than deposits, regardless of the method chosen. Fortunately, Venmo payouts are often some of the quickest withdrawals that can be made.

It is the online sportsbook that sets the withdrawal processing time for Venmo payouts. Generally, these payouts take 1-2 days to reach your account. Any additional ID verification or suspicious activity connected to your betting account can lengthen that process.

Below is a quick look at the Venmo payout speed set by the four online sportsbooks featured on this guide page.

📖Online Sportsbook⏱️Venmo Withdrawal Processing Time
DraftKings Sportsbook1-2 Days
FanDuel SportsbookWithin 24 Hours
BetMGM SportsbookWithin 24 Hours
Caesars Sportsbook1-2 Days

Fees and Charges when Betting with Venmo

Venmo was able to grow extremely popular around the US in a short amount of time due to the fact that it allows peer-to-peer payments with no fees attached. Even today, there are zero fees associated with most Venmo payment transfers. There are, however, instances in which Venmo will charge its users.

When transferring money from a Venmo account into a bank account, several options will become available. That includes a standard transfer, which generally takes between 1-3 business days and is completely free. Those looking to transfer this money into their bank account quickly have the option to do so in just a few minutes, yet it comes with a 1.75% service charge.

Tips for Managing Your Bankroll at Venmo Betting Sites

One of the most important aspects of sports betting is learning how to manage your bankroll. Failing to do so can result in quick and large losses. Discover how you can better manage your bankroll using our tried and tested tips listed below.

Research Your Bets: Each of the online sportsbooks accepting Venmo that we recommend provides a huge variety of wagering options and it can be tempting to place bets on events you have no real knowledge of. We do not advise this strategy, and instead always push our readers to wager on sports they are familiar with and place smart research based on research and analysis.

Claim Profits Regularly: Many bettors make the mistake of attempting to roll their wagering profits into additional bets in an effort to boost their bankroll. Unfortunately, some of these bettors fail to claim profits. It’s always smart to claim profits, when possible, to increase the odds of staying in the black.

Use Bonuses Effectively: Each of the online sportsbooks that we recommend provides its customers with a great selection of bonus offers. Many successful bettors utilize these bonuses to boost their bankroll. It can be a smart strategy to join several different online sportsbooks and utilize the various bonuses that each of these wagering platforms provides.

Pros and Cons of Using Venmo for Online Betting

Venmo is used by millions of Americans every single day. It is now a hugely popular cashier option accepted by some of the best online sportsbooks in the country. So, what exactly are the benefits and drawbacks of using this payment processor for sports betting?

✅Pros❌Cons
Very quick transaction processing timesNot offered by every online sportsbook
Zero fees for deposits and withdrawalsCan come with fees when transferring from Venmo to your bank account
Available using desktop and mobile devicesTransfers to bank account can take up to 3 days
Very high transfer limits

Alternatives for Betting in the US

The vast majority of US sports betting platforms allow for deposits and withdrawals to be made using a variety of methods. That often includes traditional banking options and third-party banking options such as e-wallets. Each of the betting sites that accept Venmo that we recommend also allows for payments to be made using the following methods.

FAQs

  • Do US sports betting sites accept Venmo?
    Many of the top US online sportsbooks accept Venmo for deposits and withdrawals. They include DraftKings, FanDuel, BetMGM, and Caesars.
  • How does Venmo work for sports betting?
    Venmo is used to make deposits and withdrawals with online sportsbooks. This payment processor allows users to easily fund their sportsbook accounts, and withdraw winnings.
  • Can I use Venmo for DraftKings?
    Yes. DraftKings Sportsbook allows both deposits and withdrawals to be initiated using Venmo.
  • Can I use Venmo for FanDuel?
    Yes. FanDuel Sportsbook is one of the top Venmo sports betting platforms currently operating.
  • How long do Venmo sports betting deposits take?
    Venmo sports betting deposits are almost always processed instantly.
  • How long do Venmo sports betting withdrawals take?
    Most online sportsbooks that accept Venmo have a 1-2 day processing time for Venmo withdrawals.
  • What are the best online sportsbooks that accept Venmo?
    The four most prominent Venmo betting sites are DraftKings, FanDuel, BetMGM, and Caesars.
AUTHOR
Alex Windsor

Alex is the Head of Content here at Minimum Deposit Betting Sites, leveraging his immense experience in the sports betting and iGaming industry to steer the boat and make sure all of our content is up to par and of the best possible quality.