Venmo is a convenient betting deposit and withdrawal method because it provides instant transactions and integrates smoothly into customers’ online sportsbook accounts. It was a somewhat niche deposit method not too long ago, but the number of betting sites that accept Venmo has expanded rapidly in the past couple of years.
Today, the most prominent Venmo betting sites include DraftKings, FanDuel, BetMGM, and Caesars Sportsbook.
BetRivers and Bet365 are still behind the curve in this regard, but we hope to see them add Venmo deposits in the near future.
Continue below for everything bettors need to know about Venmo sports betting deposits. This page lists BettingUSA’s recommended Venmo sportsbooks, shares step-by-step walkthroughs for depositing, and answers common questions.
Betting Sites That Accept Venmo
No Sweat Bet up to $1,000DraftKings Promo Code: Not Needed
Gambling problem? Call 1-800-GAMBLER. Call (800) 327-5050 or visit gamblinghelplinema.org (MA). Call 877-8-HOPENY/text HOPENY (467369)(NY). Call 1-800-522-4700 (NH), 888-789-7777/visit ccpg.org (CT), or visit www.1800gambler.net (WV). Offer for new customers 21+ (18+ KY/NH/WY), present in AZ, CO, CT, IL, IN, IA, KS, KY, LA (select parishes), MA, MD, ME, MI, NJ, NJ, NY, OH, PA, TN, VA, VT, WV, WY only. Void in ONT/OR/NH. Eligibility restrictions apply. See terms at sportsbook.draftkings.com/promos.
Bet $5 Get $150FanDuel Promo Code: Not Needed
Gambling Problem? Call 1-800-GAMBLER. Hope is here. Gamblinghelplinema.org or call (800)-327-5050 for 24/7 support (MA). Call 1-877-8HOPE-NY or Text HOPENY (467369) (NY). 21+ and present in AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA (permitted parishes only), MA, MD, MI, NC, NJ, NY, OH, PA, TN, VA, VT, WV, or WY.
$1500 Second Chance BetBetMGM Bonus Code: BUSABONUS
Gambling problem? Call 1-800-GAMBLER (available in the US). Call 877-8-HOPENY or text HOPENY (467369) (NY). Call 1-800-327-5050 (MA). 21+ only. Please gamble responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800- 981-0023 (PR). First bet offer for new customers only. Subject to eligibility requirements. Bonus bets are non-withdrawable. In partnership with Kansas Crossing Casino and Hotel. See BetMGM.com for terms. US $1500 promotional offer not available in New York, Nevada, North Carolina, Ontario, or Puerto Rico.
$1000 Bonus BetCaesars Sportsbook Promo Code: BUSA1000
21+. New users only. Offer valid and must be physically present in AZ, CO, IA, IL, IN, KS, KY, LA, MA, MD, ME, MI, NC, NJ, NY, OH, PA, TN, VA, WV, IL, MD, NJ, OH, PA, TN, VA, WV, WY. 1-877-8-HOPENY (467369) or Text HOPENY (467369). Call 1-800-GAMBLER.
21+ to Play, T&Cs Apply. Gambling Problem? Call 1-800-GAMBLER
Venmo Sports Betting Apps
DraftKings, FanDuel, BetMGM, Caesars Sportsbook are the most well-known online sports betting apps that accept Venmo today.
However, Venmo will likely become ubiquitous over time. MoneyLine, a B2B payment platform that serves most name-brand online sportsbooks, added Venmo support in early 2022. As a result, the many sportsbooks that use MoneyLine technology can add Venmo betting deposits as easily as flipping a switch.
In all likelihood, most of the following operators will eventually join the list of sports betting sites that take Venmo:
How To Deposit With Venmo For Online Sports Betting
Venmo is a social payments app owned by PayPal that allows users to send money directly to friends and contacts using their usernames, phone numbers, and e-mail addresses. Using Venmo for sports betting is similar, except bettors transfer funds to the online sportsbook of their choice instead of a friend.
Bettors can make Venmo online sports betting payments by creating an account with Venmo and linking it to their bank account, credit card, or debit card. Then, bettors can log in to their online betting accounts and select Venmo as their deposit method.
The easiest way to explain how to deposit at sportsbooks with Venmo is with examples. Below are step-by-step guides to making Venmo payments at DraftKings and FanDuel. The process is much the same at other Venmo betting sites.
DraftKings Venmo Deposit Walkthrough
Venmo is an attractive deposit method for DraftKings because customers get instant deposits, high transaction limits, and immediate withdrawals.
Note: Your first DraftKings Venmo deposit must be completed through the mobile app or mobile website from your phone.
DraftKings does not impose blanket deposit limits on Venmo deposits, so customers can deposit up to $7,000 a week, per Venmo’s maximum transaction limit.
Customers who have made at least one Venmo deposit with DraftKings may also use it to withdraw up to $20,000 per transaction. In addition, DraftKings processes Venmo withdrawals instantly.
How to make a DraftKings Venmo deposit:
First, Click the plus sign next to account balance in upper-right corner of DraftKings app:
Second: Choose an amount and select Venmo from the list of deposit methods:
Third: Next screen asks to connect your DraftKings and Venmo accounts. Tap the big button in the middle of the screen to continue. This will launch the Venmo app where it will confirm your payment source if you already have an account. Tap the “Agree & Complete” button to initiate the deposit:
Note: If you don’t already have an account, DraftKings will direct you to download the Venmo app, sign up for a Venmo account, and connect your bank account. Venmo can verify bank accounts instantly, so making a DraftKings Venmo deposit still only takes a few minutes from start to finish, even for users who don’t already have Venmo.
How FanDuel Venmo Deposits Work
FanDuel was the first online sportsbook and casino to support Venmo deposits, and getting started is easy.
First, log in to your FanDuel account and select the “add funds” button. Then, choose Venmo from the list of options:
Next, choose an amount to deposit:
If you’re on a desktop computer, the FanDuel website will display a QR code and ask you to scan it by opening the Venmo app on your mobile device and tapping the “Scan” button.
If you’re using the FanDuel app and select Venmo, it will automatically launch the Venmo app after choosing your deposit amount.
In both cases, the Venmo app will ask you to confirm the deposit to transfer the funds to your online betting account:
Select the “Agree” button, and Venmo will transfer the funds immediately, allowing you to get straight to betting.
Venmo Sports Betting Fees
Venmo fees are minimal and avoidable. It costs nothing to register, and Venmo does not charge any ongoing maintenance fees.
Some methods to send and receive money incur fees, but bettors can avoid them by choosing the right methods.
| Action | Fee |
|---|---|
| Registration | $0 |
| Maintenance fee | $0 |
| Online betting deposits | $0 |
| Receiving betting withdrawals | $0 |
| Uploading funds via bank transfer | $0 |
| Withdrawing via bank transfer | $0 |
| Withdrawing via expedited bank transfer | 1.75% ($25 max fee) |
Venmo Betting Pros and Cons
Venmo is a pretty simple deposit method and features more pros than cons. It’s not the solution for bettors who want to deposit with cash, but it works well for most other use cases.
- Pro: Venmo is a regulated payment service provider headquartered in New York City and owned by PayPal.
- Con: Bettors must register for Venmo accounts to deposit and withdraw. That’s one more username and password to remember.
- Pro: Sportsbooks that accept Venmo provide fast deposits and withdrawals. Online casino and sportsbook customers can make Venmo deposits and immediately begin placing wagers.
- Pro: Venmo also serves as a safe place for bettors to store their gambling bankrolls separate from their other money.
- Pro: Venmo charges no fees for most actions. Bettors can avoid fees entirely by uploading funds and withdrawing via bank transfer or debit card.
- Con: Venmo integrates a social feed that allows users to show off their purchases. Social sharing can be disabled, but some bettors will inevitably forget or not know about the feature and accidentally broadcast to their friends how much they spend or win gambling.
Venmo Online Horse Racing Betting
Xpressbet is the only mainstream horse racing betting site that accepts Venmo deposits today.
Most other online racebooks do not accept Venmo. However, that may change in the not-too-distance future due to PayNearMe integrating Venmo into its payment system.
The next-closest deposit method to Venmo for most advance deposit wagering sites is PayPal, which offers instant online deposits and withdrawals. PayPal is the parent company of Venmo, which may eventually lead to more online racebooks adding it as a deposit method.
Venmo Daily Fantasy Sports Sites
FanDuel Daily Fantasy customers can fund their accounts with Venmo.
All other mainstream fantasy sites do not accept Venmo. That includes DFS apps like PrizePicks, Underdog Fantasy, and OwnersBox.
For now, FanDuel DFS is the only fantasy sports app where users can deposit and withdraw with Venmo.
Venmo Sports Betting FAQ
Wes Burns has more than a decade’s worth of experience as a writer, researcher and analyst in the legal gambling industry and is co-founder of BettingUSA.com. As a former professional online poker player, Wes approaches his work from the viewpoint of players.