Venmo sports betting is a quite popular subject around the world, so we have decided to explain everything you need to know before choosing this payment method for your online gambling activities.
Venmo is a mobile payment solution. It is suitable for gamblers that do not want to link their gambling account to their personal bank account. Venmo acts just like any other electronic wallet (e.g. Skrill, Neteller, PayPal, etc. ). One of the most important aspects you need to know before anything else is that online betting with Venmo is only available for US residents. According to the company’s policy, only people who are legally residing in the United States of America are eligible for using this payment method. Therefore you will have to choose one of the betting companies with Venmo that are licensed in the US. Below you will find a detailed explanation on how to decide whether you should use this payment method or not. Moreover, we have prepared a set of Venmo sport betting sites that you can choose from.
List of Best Venmo Bookies
Types of bets:
Venmo at William Hill
William Hill bookmaker does not support direct Venmo payment. However, you can successfully use one of the available eWallets to intermediate your transactions. Our best bet is using PayPal (international electronic wallet) as a middle-man for your Venmo gambling transfers. This way you will be able to prevent your bank account from being linked with your online betting activity. After depositing money into your eWallet using Venmo you will have to comply with the appropriate fees, limits, and processing times. For example, all the electronic wallets supported by William Hill enjoy 10 GBP minimum deposit as well as 0 processing fees. All the deposits are processed instantly and you will also be able to withdraw your earnings using this payment method.
Reputation and quality
William Hill is one of the most notorious online betting sites. It is based in the UK but the number of countries it is licensed in grows rapidly. This bookmaker features a wide variety of withdrawal methods and plenty of depositing options. Moreover, it provides its users with heaps of above-average odds for all kinds of sports events.
Venmo and 1xBet
1XBET is another well-known online betting platform. Even if it is not one of the online bookies that accept Venmo for direct transfers you can still take advantage of its wide variety of payment methods to intermediate your transactions. As mentioned before, we do highly recommend working with PayPal. The fees associated with the transfers processed through a valid PayPal account are 0 regardless of the transferred amount. Moreover, all the deposits are processed instantly while withdrawals take up to 24 hours to complete. When it comes to the limits of each transfer, 1XBET literally excels. The minimum amount you can deposit is $1 for each transaction, while the minimum withdrawal is as low as $1,5.
Play at high odds
Deposit bonus up to €100
1XBET is one of the most popular bookmakers available on the market. Its most notorious advantages are related to the registration process and the above-average odds it offers. In terms of deposit and withdrawal methods, 1XBET is one of the most flexible bookies. Users can choose one of the 100 payment methods available on the platform.
Advantages & limitations
Let’s discuss the advantages and disadvantages of Venmo for online sports betting. The most important advantage of this digital wallet is that it allows you to prevent your personal bank account from being linked to your online gambling activities. You will also be able to enjoy 0 fees, regardless of the transferred amount. All the transfers are processed within a few seconds.
Venmo allows accessing your funds right after initiating the payment. If you are interested in exchanging currency when you place online bets, you should definitely use Venmo. It allows you to exchange different currencies without paying an arm and a leg in taxes.
When it comes to disadvantages, Venmo does not have too many. The only main drawback of this payment method is related to the limited availability. Currently, only US residents are allowed to make use of its amazing features. Another thing to consider is the fact that there are not too many
bookmakers accepting Venmo on the market. If you are planning on gambling online, but you are not a US resident, we strongly suggest taking a look at the other payment methods available in your country.
Instant Processing Time
Intermediate Payment Method
Allows Currency Exchange
Limited to US residents only
Limits, fees & withdrawal times
When using your Venmo account, we strongly suggest intermediating your transfers with an internationally-accepted eWallet. The most popular digital wallets include, but are not limited, to PayPal, Skrill, and Neteller.
Below, we have prepared a comparison between the most popular Venmo betting companies. The two tables contain information regarding transfers processed through electronic wallets. There are no charges for deposits of any kind. The minimum deposit/withdrawal depends on the chosen bookmaker.
Make sure to check the complete review of each bookie in order to get a better understanding of the actual payment methods available as well as the associated limits, fees, and processing times.
Deposit Times, Fees & Limits
$1 - $10,000
€10 - €5,000
€20 - €10,000
€10 - €5,000
Withdrawal Times, Fees & Limits
1 - 3 business days
$2 - $20,000
2 - 3 business days
€10 - €5,000
Up to 48 hours
€20 - €10,000
1 - 3 business days
€20 - €5,000
ALTERNATIVE PAYMENT METHODS
VISA is one of the most popular card issuers around the world. All licensed bookmakers allow their users to deposit funds and withdraw earnings using their VISA card.
Paysafecard is a suitable payment method for gamblers who do not want to involve their bank account in any online betting activity. All you have to do is to buy a prepaid card with cash and type in the associated code.
In conclusion, Venmo is a payment method that is very advantageous for US residents. Its only major drawback is related to the limited availability. You can take advantage of Venmo physical card. There are no fees associated with depositing and withdrawing money either. Please, note that there are very few betting websites that use Venmo, and it is best used as an intermediate option!