Venmo Online Sportsbooks
Betting with online Venmo sportsbooks is simple for all transactions. Venmo has become extremely popular in the US and is used for everyday P2P transfers, leaving no reason for online sportsbooks not to accept the payment service. This secure platform can be used to fund an online sports betting account, accept bonuses, and even request withdrawals. Not all online books are currently accepting Venmo for transactions, but online betting trends are heading in that direction. This is because of its quick processing time, lack of fees, and trust that it is a secure and safe network for betting on sports in the US.
Best Online Sportsbooks That Accept Venmo
When looking for an online sportsbook, one of the most important features to keep in mind is the available payment methods that are offered. Even though there are plenty of online sportsbooks on the US betting market, not many of them currently offer Venmo transactions. Online books that are innovative enough to offer this payment method give the book an edge and extra benefits for betting with the book.
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High Limits For Venmo Deposits
When using Venmo for online sports betting, Bovada charges no fees and has a deposit and withdrawal range that goes all the way up to $1,000. Bovada makes depositing with Venmo a quick and stress-fee process, as all online sports betting should be. There is no requirement for betting big, with the minimum deposit of $20 with the online payment service. One quick Venmo deposit allows a large wager on the Super Bowl, that money could be spread-out for smaller wagers on college football, NBA, and even international sporting events.
Benefits Of Betting With Venmo
- No fees for deposits/withdrawals
- Wide range for deposits/withdrawals
- 15-minute processing time for transfer of funds
- Secure and trusted platform
Disadvantages Of Using Venmo With Online Sportsbooks
- Must create an account with MatchPay
- Venmo is sent to a third party/not sportsbook directly
Creating A MatchPay Account
In order to use Venmo to bet with an online sportsbook like Bovada, a MatchPay account is needed to deposit funds and request withdrawals. Once logged into a Bovada account, the deposit section has a link for creating a MatchPay account. This link will go to a different website for creating an account with the service and Venmo bettors will create an account with the same email they used for their Bovada account. This new account will be verified by a quick text to the number that was given during the registration process. There will also be an email verification that will link the Bovada and MatchPay account.
Online Sports Betting Bonuses With Venmo
For a person that has never deposited before with the online sportsbook, there is a welcome bonus that can be redeemed through Bovada. This bonus has a rollover requirement that sets a limit of how much has to be wagered/won before any winnings can be paid out. This bonus can be requested when submitting the MatchPay deposit request, with no promo code required. The best bonus for Venmo deposits at Bovada is a $250 welcome bonus that is only available for players who are making their first ever deposit with the sportsbook. It is a 50% match bonus that has a maximum bonus of $250. This promo has a 5x sports betting rollover requirement.
How To Make Venmo Online Sportsbook Deposits
In order to us the Match Pay service for Venmo deposits, the first step is to log onto the service and find another Bovada sportsbook player to make an exchange of funds with. On the site, there are people who are looking to find their account and others wanting to receive payouts. Bovada allows these players to make exchanges between themselves, by buying each other’s Bovada credit with US dollars through Venmo.
All conversations and agreements go through Bovada, but the actual sending of the funds goes through Venmo and is not associated with Bovada. However, once the funds have been sent and processed between bettors, Bovada will transfer their credit into your account within 15 minutes.
Requesting Payouts Through Venmo
Payouts have the same process as deposits and are still through the MatchPay service when using Bovada sportsbook. The Bovada player wanting to withdrawal needs to access the MatchPay marketplace that an account has to be created for and find somebody who is trying to fund their Bovada account. They will communicate over the MatchPay server and the person requesting a payout will be paid the money that they agree upon via Venmo, and Bovada will then transfer the funds from the account to the other bettor wanting to deposit.
Venmo Deposits And Withdrawal Info At Bovada
- $1,000 maximum
- $20 minimum
- No fees attached
- Processed within 15 minutes or less
Can I Trust MatchPay For Venmo Deposits?
The MatchPay server can be trusted completely, but users should be cautious of who they match with to trade funds for Bovada credit. With the initial transaction being person-to-person, Bovada cannot regulate the actual Venmo transfer between players, but will only send the funds between accounts once the Venmo process has been completed and verified.
What Payment Methods Can Be Used With MatchPay?
Venmo is the most popular of these types of payment methods but there are still many others platforms that can be used for MatchPay and funding online sports betting accounts. All of these services utilize MatchPay the same, and the money is still being transferred between players for all transactions before a sportsbook like Bovada will transfer the funds across sportsbook accounts.
Why Do I Not See MatchPay Or Venmo As An Option At Bovada?
Bovada customizes the features of each induvial account, and not all account holders are offered the MatchPay option, resulting in no deposits with Venmo. This can be due to different variables, but not having deposited with the account in the past can be one of the causes. If this is the case, somebody who wants to bet with Bovada can use a cryptocurrency like Bitcoin to fund their account, even if they have no prior experience with the payment method. Buying and depositing with Bitcoin only takes a few simple steps before the betting action can begin.
Do State-Regulated Sportsbooks Accept Venmo?
While others could follow in the future, FanDuel is currently the only state-regulated sportsbook that offers Venmo as a deposit and withdrawal option. This is not the online sportsbooks’ fastest method, with transactions having a processing time of up to 48 hours.
In addition, Venmo offers a Venmo Mastercard Debit Card, which can be associated with your Venmo account. This card can be easily used at online sportsbooks just like a normal MasterCard can, whether these sportsbooks are state-regulated or international. It’s likely the best way to make Venmo deposits easy.
Are Online Sportsbooks That Accept Venmo Legal In The US?
Yes, the online sportsbooks that offer Venmo for deposit and withdrawal transactions are legal in the US. Whether using an internationally licensed book like Bovada, or a state-regulated book like FanDuel, the process of funding the account and betting with Venmo is legal, safe, and secure for all US online sportsbook players. FanDuel is currently available in 17 states, while Bovada is offered in 45.
The Venmo Debit Card
Venmo has partnered with MasterCard to issue a debit card that is associated with your Venmo account. This debit card allows you to make purchases with retailers that do not accept Venmo, but do accept MasterCard. This includes many online sportsbooks. For example, Bovada accepts MasterCard, but does not take Venmo outside of the context of MatchPay. BetOnline takes MasterCard, but using Venmo there is difficult unless you use Venmo to purchase vouchers. This card makes it much easier to use Venmo at online sportsbooks.