If you’re in search of the ultimate option to deposit into your sports betting account, you will likely have browsed through the Venmo option. Pack your bags as our team aims to guide you through all they have to offer.
Venmo cards are widely used by the younger generation, but the PayPal-owned brand is quickly gaining popularity as a payment destination. There are pros and cons to depositing with Venmo and we will journey through them in this article. We’ll also tell you more about the various online sportsbooks accepting Venmo to fund your online wagering voyage.
How to make an Venmo payment – complete transactions from anywhere
Venmo is a popular instant-pay money sending service. The payment system has quickly gained popularity all over the world. To send money is pretty easy and can be done in as few as 6 steps. First and foremost you’ll need to create a Venmo account and download the Venmo app on your phone. Once you have that then you can just follow the following 6 steps to send money.
Open up your Venmo app.
Click on the payment icon at the top right of your screen.
Select a recipient from your Venmo contact list or add a new recipient.
Add the amount that you wish to pay.
Include a note with the payment. This note could include an emoji, a snapchat bitmoji and various other e-paraphernalia.
Then tap Pay.
There are some betting sites that do not accept Venmo directly and in order to use Venmo to top up your account on these best betting sites accepting Venmo, you will most likely need to purchase vouchers or codes. You can pay for these vouchers and codes with a Venmo transfer, but the sportsbooks themselves won’t accept the Venmo money exchange system directly.
Some sportsbooks do take Venmo and if you would like to fund your account using Venmo sports betting deposits, then we suggest that you opt to use their instant-pay product. If you choose not to, the transfer time will be similar to other betting deposit methods such as wire transfers. Instant pay comes with minor fees of about 1% of the transaction or $10, whichever is less.
Average time of payment when using Venmo – don’t sit around waiting for your funds
Venmo prides itself on being safe above all else. All Venmo transactions have to face internal security system checks before each transaction is released. The time that a withdrawal or deposit will take can be anywhere from instantaneous to a few days, depending on what institution is processing the payment for the receiver of the funds.
Usually, withdrawals can take anywhere from a couple of hours to three days. Two hours is more common, and the time will only lengthen if a transaction seems out of the ordinary. When a transaction is flagged then a withdrawal can be withheld for a few days for further review. Withdrawals are withheld for various reasons. Sometimes it may be something as minor as you have received an unusually large amount of money for your account. Other times it may be that you logged into your account from a different device, or an unsecured network that hasn’t been used for your Venmo sports betting.
A withdrawal should never take more than about 3 days. This time is however more dependent on your bank’s processing times than on Venmo. Keep in mind that withdrawals using Venmo with bookmakers is quite scarce.
If the money is travelling the other way and you are depositing funds, the Venmo sportsbook will usually process these payments instantly. You can obviously confirm this by taking a look at whether or not the funds have reflected within your online gambling account. The process is similar to that found with our PaySafeCard betting sites.
Verifying your Venmo account
Once you have made a Venmo account, you will need to verify your Venmo account before you can actually use it. You can do this by doing the following steps:
Open the Venmo app on your phone.
Tap the three stacked lines in the top-left corner of the screen to open up a drop down menu.
Scroll down to the security section of your settings and select “identity verification”.
Tap “Next” on the one-time security check information page.
Enter your information, including: Your legal first and last name, your date of birth, the last four digits of your social security number if you are in America or click “I don’t have an SSN” if not, and your address information.
Tap “Next” and follow the onscreen prompts to finish up the process.
An online service provider might require additional documents to verify your account but we will always run through these in our detailed operator reviews. By making use of Venmo sports betting, you can enjoy the hassle-free experience of seeing your funds deposited instantly – provided you have verified your account.
Venmo was founded by University of Pennsylvania alumni, Andrew Kortina and Igram Magdon-Ismail, who were freshman roommates together. The two decided to create a transaction destination while at a friend’s yogurt shop when they realized the lack of options that interested travellers had.
In May 2010, after starting to transition from a way to send money over text message to a dedicated app, the company raised $1.2 million of seed money to further expand and fund their idea, and in 2012 the company was acquired by Braintree for $26.2 million. In December of 2013 the company was once again sold, this time to PayPal, through their acquisition of Braintree for $800 million.
With the company currently being backed by the industry-leading service that PayPal offers, it is no wonder that customers are flocking to get their accounts up and running. PayByMobile sports betting is another viable alternative to funding your online wagering account, but they do not have a company such as PayPal that backs their service.
Venmo compared to other payment options
Online betting with bookmakers that accept Venmo is easy and secure. But how does it compare as a banking method to other options? Our experts have taken a look at the other payment options on the market to determine the quality of what is on offer.
PayPal is a similar service to Venmo and the company also owns Venmo itself. With PayPal, you can also enjoy the comfort of having your deposits processed immediately. This requirement seems to be a standard with the majority of ewallet options. Compared to debit card betting sites, PayPal manages to provide you with the ability to pay using any method that you prefer. You can then use these funds from your PayPal account to instantly fund the service you are after.
Skrill is another popular ewallet solution that plenty of customers use to fund their accounts. It is important to keep in mind that a large number of online operators exclude promotions that are available when you pay with these methods so take that into account while browsing through offers. Skrill provides a similar service to Venmo but does not have the additional social service that Venmo offers.
This is a common payment method used in the states and many online gamblers make use of it to protect their personal data. With Automated Clearing House, you are able to make your transactions using a sophisticated computer network. This provides customers with the means to fund any service without the hassle of sharing their credit card details online.
PaySafeCard is a voucher based system that some customers prefer to use with online sportsbooks. The reason being that vouchers are purchased before having to share any of your personal payment details. These vouchers are then used to fund your online gambling account. PaySafeCard provides unprecedented levels of security and anyone can make use of the service, provided they have the necessary funds to purchase the vouchers.
Venmo betting sites will reflect your transaction instantly, this is similar to the service that was found with VISA and MasterCard credit card options. If you are using a debit card of one of these service providers you might find that there is a small processing period applicable to your transaction. VISA and MasterCard are the two most recognizable financial institutions so reputation manages to speak for itself.
Finally, there is a method for Apple Pay sports betting. The industry leading tech company, Apple, has put together their own payment service and it is readily available on thousands of mobile devices. By using Apple Pay, you are trusting in one of the biggest names within the online scene. You can also enjoy the ease of payment within their service. Apple Pay is certainly a worthy contender of Venmo sports betting.
Which are the most popular online payment methods?
Venmo is convenient, easy to use and secure. That’s not to say that they are the only service who can claim these attributes. There are plenty of service providers available on the scene today and some of them enjoy the title of being the most popular on the market. Unfortunately, nothing tops the VISA and MasterCard service. A large portion of the online betting community makes use of this service and their successful history on the scene is backed by the ease of using the options.
You will find plenty of Venmo betting sites available on the market but just about every operator on the scene provides support for VISA and MasterCard. If you are not interested in opening an account with them, you can always make use of the ewallet contenders. PayPal is always present amongst the competition and Apple Pay is very quickly gaining popularity as well.
FAQs about the Venmo payment service
Is Venmo only for online payments?
No, Venmo can be used in some shops around the world and also to top up your tab at many bookmakers accepting Venmo, both physical and online.
Can I use Venmo for anything other than paying?
Yes, a large part of the appeal of Venmo is that it transforms otherwise boring transactions into a social opportunity. That being said, keep your transactions private as you probably don’t want everyone to know that you were out drinking at 3am on Tuesday.
What if my payment doesn’t reflect in my account?
Whenever this happens, we highly recommend that you contact customer support immediately. Your online gambling service provider should be able to inform you whether the issue is on their end or with Venmo itself. Give it a day or two and if the funds aren’t available, make use of our detailed operator reviews to get in contact with the support team.
Why are my payments being blocked?
Sometimes a payment is blocked because your account was restricted, which could just be an error in the system. Try manually changing the settings on your profile to correct any mistakes. Venmo in most cases won’t be able to see the exact reasons for why a payment was blocked.
What does it mean if I have no payment source available for fees?
Venmo charges a small fee when you transfer funds, and if you don’t have the money to transfer funds you will most likely receive some sort of error message related to the payment.
How do I know the Venmo service is safe?
Venmo betting sites will need to have the necessary licensing to offer their product. These licenses are awarded by external regulatory commissions and this means that the entire service adheres to the necessary regulations. The Venmo service itself is owned by PayPal, one of the most reputable payment methods in the world and this should serve as testament to the Venmo offer.
Can I use the service anywhere?
The best part about ewallet options is that they provide you access to your funds anytime, anywhere. You will be able to use Venmo betting sites with ease as long as you have the necessary internet connection to do so.
Conclusion – Venmo sports betting is a reality
Many online sportsbooks offer the option for customers to use Venmo as their main destination for financing their gambling accounts. This is because Venmo is secure, instantaneous, and easy to use. Book your tickets with Venmo to make all your online purchases, the entire service is devoted to making your transactions as easy as possible. While considering all of your options for your next payment journey, keep in mind that Venmo has quickly become a fan favourite. Our guides here at Betting.net should provide you with all the information to get your wagering travels underway.
Venmo sports betting FAQ
🤔 Are there bookmakers that accept Venmo?
Whenever you are in search of an online bookmaker, you will need to consider what payment methods they have available for you to fund your account. This is an important consideration to make as it will allow you to transact whenever you need to. Our detailed articles here at Betting.net have taken a look at exactly which of these bookmakers provide access to the Venmo service and the benefits you can expect to receive from all of them. Be sure to make use of our detailed operator reviews before you commit to opening an account with a service provider.
🥇 What are the best betting sites with Venmo?
Once you have found a viable list of Venmo betting sites, you will need to consider which of them are the best of the lot. This is difficult to do, especially for newcomers to the online gambling scene. These betting sites have all been thoroughly evaluated within our service by a resident team of experts. You can find all of these expert findings right here on our page. The best part is that our entire service is provided to customers without any charge. You will be able to find all the information you will need without having to pay a cent.
❓ How do I open an account with a Venmo sportsbook?
Venmo is an incredibly useful online payment app. If you need to fund your online sportsbook account, you will most likely have to consider them amongst some of the more popular options out there. Our team at Betting.net have thoroughly evaluated each of the payment methods and detailed them according to the various sections of their service. You will be able to find all of the specifics related to the Venmo service right here at Betting.net. Head to our page now to browse through our expertly compiled articles.
🔐 Can I trust Venmo betting sites?
Whenever you are looking to transact online, you will have to consider if the service you are using is trustworthy. There are plenty of online service providers on the market and each of them will have their own benefits and drawbacks. When we evaluate these offers, we determine the security and legitimacy of what they have available. Head to our page now to find more information regarding the online payment method.