Venmo Betting Sites
Venmo is an increasingly popular payment option at online sportsbooks for both deposits and withdrawals. As its use has expanded in the U.S., more betting sites now support it, making it a convenient choice for many bettors who prefer mobile-first banking.
Users can fund their Venmo account through a linked bank account or debit card, and withdrawals are typically processed back to the same source. Because transactions are fast and easy to manage within the app, Venmo has become a preferred banking method for many sports bettors.
Best Venmo betting sites for October 2026
People in a location with legal sports betting may have the option to use Venmo to bet on sports. Many of our recommended sites on this list offer Venmo as a banking option.
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What is Venmo?
Venmo is a mobile payment provider. Users can transfer money on a peer-to-peer basis and also conduct business with Venmo-authorized merchants, including some of the top legal online sportsbooks.
It’s essentially a digital wallet that’s similar to PayPal, which is also the parent company of Venmo. The former has a broader reach and is accepted in more places. While PayPal betting sites are very popular, Venmo continues to gain acceptance while growing in availability.
Venmo also offers robust security features, including encryption and two-factor authentication, to help protect user accounts. For sports bettors, this means deposits can be quick, convenient, and secure when used at participating sportsbooks.
How to deposit with Venmo
Venmo is a deposit option at many sports betting sites. However, note that availability will vary depending on the book and the state where you are located. For example, sports betting in New Jersey does not allow Venmo deposits. But these deposits are available in other legal states.
The process is generally the same where Venmo is available. You log in to the sportsbook and access the cashier section to make a deposit. If it’s your first time using it on the site, you’ll then be redirected to Venmo.
From there, you’ll enter your Venmo login credentials, confirm the payment and method, and click to submit. Deposits will go through instantly if you provide all of the correct information. Moving forward, Venmo will be one of your saved options. If there’s any trouble linking in the future, you’ll be directed to log in and verify once again.
| Sportsbook | Accessing Venmo | Welcome Bonus |
|---|---|---|
| Caesars Sportsbook | Select Venmo as your payment option and follow the on-screen instructions. The minimum deposit is $10. | First Bet Match up to in Bonus Bets Caesars promo code: LSRDYW |
| BetMGM Sportsbook | From the cashier tab, select deposit and then Venmo as your method. You must deposit a minimum of $10. | Get up to $1,500 in bonus bets paid back if your first bet does not win. Bonus bets expire in 7 days. One new customer offer only. Additional terms apply. BetMGM bonus code: BETLSR |
| BetRivers Sportsbook | From the website, you’ll get a QR code to scan and access on the app. On mobile, you’ll be sent to the Venmo app to verify. Minimum $10 deposit. | Up to $500 BetRivers bonus code: LSRRIV |
| FanDuel Sportsbook | Select Venmo from the cashier screen and follow the directions. FanDuel requires a $5 minimum deposit. | Bet $5, get $350 if your bet wins. No FanDuel promo code needed |
| DraftKings Sportsbook | Go to the cashier on the website or app and select Venmo. Follow the instructions and deposit at least $5. | Up to $1,200 in bonus funds No DraftKings promo code needed |
While Venmo is now available as a banking option at several top betting sites, some platforms, including bet365 Sportsbook, do not offer it yet. Due to the increasing popularity of mobile payments, there’s a good chance that Venmo will be available in even more places in the future.
Withdrawals with Venmo
Sportsbooks that accept Venmo deposits will also allow you to process withdrawals via the same method. To do so, you must have already verified your credentials and made a deposit to the sportsbook via Venmo. One of the fastest sportsbook payout methods is through Venmo.
Much like making a deposit, withdrawing through Venmo typically starts in the sportsbook’s cashier section. Select the withdrawal option, choose Venmo as your preferred method, and follow the prompts to complete the transaction. If your sportsbook and Venmo accounts are already linked, the withdrawal is generally processed in less than 48 hours, although it may arrive sooner depending on the operator.
After linking your accounts for the first time, future withdrawals should be more straightforward. Once the funds reach your Venmo account, you can transfer them to a linked bank account or eligible debit card.
Venmo also offers a debit card that operates on the Mastercard network, providing another way to access your funds. If your Venmo account credentials have changed, you may need to sign in again and complete an additional verification step before processing the transaction.
Venmo pros and cons
Like any payment method, Venmo has its own advantages and potential drawbacks that bettors should consider before using it for sportsbook deposits and withdrawals. Availability, transaction limits, and processing times can vary by sportsbook and state.
Pros
- Fast setup: Linking Venmo to a sportsbook account is usually quick and straightforward.
- Peerless convenience: If you already use Venmo for everyday payments, deposits feel seamless.
- Secure transfers: Venmo uses encryption and authentication features to protect transactions.
Cons
- Limited sportsbook support: Venmo is not accepted at all sportsbooks, which can narrow your options depending on where you choose to bet.
- Funding restrictions: Certain deposit methods linked through Venmo, particularly credit card funding, may come with added fees, and not every transfer type is eligible for use with sports betting platforms.
- Impulse deposits: Because Venmo makes it easy to move money quickly, it can also lead to more frequent or impulsive deposits, which may increase the risk of overspending without careful tracking.
History of Venmo
Venmo launched in 2009 as a peer-to-peer payment service designed to make sending and receiving money quick and convenient. After an initial beta period, the company expanded in 2012 and was acquired by Braintree that same year. PayPal acquired Braintree in 2013, bringing Venmo into its portfolio while allowing the service to retain its own app, branding, and user experience.
Venmo has since grown in popularity, thanks in large part to its convenience for splitting everyday expenses such as restaurant bills, rent, and transportation costs. Its widespread adoption has made it a familiar digital payment option for millions of U.S. consumers.
In recent years, Venmo has expanded beyond peer-to-peer transfers to support purchases at participating merchants. This expansion includes select legal online sportsbooks that accept Venmo for eligible deposits. For bettors, the service offers another way to fund an account without manually entering bank or card details at checkout. However, availability varies by sportsbook, state, and account eligibility, and withdrawal support may differ from deposit options. As digital payments become increasingly integrated into online transactions, Venmo remains a recognizable payment method for eligible U.S. sports betting customers.
Venmo FAQ
Yes. Caesars, BetMGM, BetRivers, FanDuel, and DraftKings are legal sports betting sites that accept Venmo. Note that Venmo may not be available as a banking option in all the states where a sportsbook is available.
Venmo is an approved banking method at several top legal sports betting sites. If Venmo is available at a sportsbook, that book will list it as a banking option on the book’s website or app.
Most sportsbooks do not charge fees for deposits made with Venmo, but fees may apply for certain withdrawals or depending on how funds are transferred within Venmo. It’s best to check both the sportsbook’s banking page and Venmo’s terms for the most accurate and up-to-date information.