Last updated on: August 24th, 2022
Legal Venmo Sports Betting Sites
As of the most trusted payment services in the US, Venmo is a secure method to use for legal sports betting. Bettors can use the payment service to fund their accounts quickly, wasting no time that could be spent betting on sports. The process is simple bettors in all 50 states can use Venmo to fund their legal sports betting account. Depending on the Venmo sports betting site, there are different fees and limits for how much can be deposited or paid out through Venmo. The best legal books have flexible limits for transactions and bog bonuses for deposits.
As one of the most popular and most available legal sportsbooks on the market, Bovada has added Venmo transactions to its large portfolio. When using Venmo to fund a Bovada account, bettors must go through the MatchPay process to make a deposit. Bovada has first-time deposit bonuses that can be redeemed with this Venmo to MatchPay process that can go up to $250. This bonus has a 5x rollover requirement and can be used to bet on all different sports around the US, from NFL season to international sporting events.
- Accepts Venmo Deposits
- Exclusive player props
- Easy-to-use interface
- Mobile friendly
- Efficient payouts
Best Online Sportsbooks That Take Venmo In 2022
When choosing which legal sportsbook to jump into, finding a book that accepts Venmo is very beneficial for ease-of-use sports betting. There are plenty of legal online sportsbooks that accept Venmo in 2022 all over the US.
Is It Legal To Bet On Sports With Venmo?
Using Venmo to bet on sports is a legal and secure process that has become popular in the sports betting community. There are online sportsbooks that accept this method that are internally licensed, and other books that are state regulated. No matter which route, using MatchPay or direct Venmo transactions is safe and legal across the United States.
Benefits Of Using Venmo To Bet On Sports At Bovada
- 15 Minute Processing Time
- No fees for deposits with Venmo
- Trusted and secure method
Drawbacks To Venmo Sports Betting Deposits At Bovada
- Payouts require finding a MatchPay agreement
Depositing Venmo Into A Legal Betting Site
Depositing with Venmo into a legal sportsbook like Bovada requires the assistance of a service called MatchPay because the sportsbook does not accept direct Venmo transactions. This service is essentially a marketplace that is overseen and accessed through Bovada that hooks up bettors who have funds in their Bovada account and other bettors who want to fund their Bovada account. Bettors will have to create an account with MatchPay, and the prompt can be found on Bovada’s withdrawal page. There is a MatchPay option that can select with a “join now” link.
There is a live chat function that allows these bettors to interact and find the perfect match, for secure person-to-person transactions. If a bettor wanted to put $500 into their Bovada account, they would find somebody that wanted to get their $500 Bovada account paid out. The bettor wanting to fund their account would send $500 through Venmo to the bettor wanting to cash out, and when the payment is processed, Bovada transfers the funds between accounts.
Limits For Venmo Deposits Through MatchPay
Bonuses With Venmo Sportsbook Deposits
When depositing with Venmo, bettors have the chance to receive bonuses on their deposits. Claiming sports betting bonuses can be very beneficial for bettors who want to consistently place legal sports wagers and keep their bankroll funded. However, sportsbooks bonuses often have rollover requirements, that set an amount to how much has to be bet/won before any payouts can be requested.
Best Current Venmo Bonus
Withdrawing Sports Betting Winnings To Venmo
When requesting payouts through Venmo, legal sportsbooks like Bovada require MachPay, just like with their sportsbook deposits. This is the same system of linking up with another player, but this time looking for somebody who is wanting to fund their Bovada account. After logging into your MatchPay account through Bovada’s website, a bettor will simply look for somebody who wants to send them the equivalent amount through Venmo for their Bovada sports betting credit.
Venmo Deposit Limits With MatchPay
Bovada – When requesting payouts with Venmo, Bovada offers a $20 minimum and $1,000 maximum for all withdrawals. There are zero fees attached and the process of Bovada transferring the funds through MatchPay takes up to 15 minutes. As Bovada transfers the funds from the two accounts, the person withdrawing will receive the Venmo transaction instantly from the other person on MatchPay.
Regulated Sportsbooks That Accept Venmo
There are some regulated sportsbooks that have started to accept direct Venmo transactions like FanDuel for example. This legal sportsbook will allow bettors to deposit and withdraw with a Venmo account, and once the request is processed, it can take up to 48 hours for the money to be transferred into a bettor’s Venmo account. Other state-regulated books like DraftKings and Caesars have PayPal payout options but do not accept direct Venmo transactions at this time.
Fees When Using Venmo For Sports Betting
Venmo is one of the most practical forms of funding an account and requesting payouts for legal sports betting because there are no fees involved. For state-regulated books that offer the method, there are no fees. Other legal online books like Bovada use MatchPay to allow bettors to deposit and withdrawal their funds, which incorporate no fees as well.
Matchpay Options Beside Venmo
As MatchPay has increased in popularity for legal sports betting, Venmo is not the only payment method that can be used. Because the actual transaction of funds is by person-to-person, legal USA sportsbooks have options for the most accessible and trusted payment method/apps. To ensure safety, online books like Bovada have a list of trusted payment apps that can be used for MatchPay, but Bovada will be the one to send the sports betting credits between bettors.
- Apple Pay