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Venmo Sports Betting Deposits

Venmo Sports Betting
  • Fund your account and get paid with Venmo
  • Popular app - Find sportsbook voucher buyers and sellers FAST
  • Score valuable sports betting promos + claim same-day payouts

Most of the world’s commercial industries have been able to employ popular P2P instant payment systems, but online sportsbooks operating legally outside of US jurisdiction have been left out. Due to federal banking restrictions, P2P companies are often unable to process online sportsbook deposits. And without Venmo deposits, many avid bettors have no quick, secure way to get their accounts funded. But that’s finally changing!

The best online sportsbooks are truly pushing the envelope with new ways to allow members to use P2P services to fund their betting accounts indirectly, via the cooperation of the betting community itself. This is done through the voucher or player transfer model, as well as the Bovada-exclusive MatchPay option.

Using player-to-player banking options, online bettors can rapidly deposit and get paid with Venmo. To learn more, our short guide explains the simple process.

Best Venmo Sportsbooks For 2024

Site NameCurrent BonusAgeU.S.Visit Site
Top Rated #1 IconBovada Sportsbook50% Max $1,00018+USA Players Legally AcceptedVisit Site Review

What Is Venmo?

Venmo is an instant-pay, peer-to-peer (or P2P) money sending service owned by PayPal.  Using the service, transfers from your checking account take between 1-3 business days to go through, though there is also allow an instant-pay option. This comes with minimal added fees, though they're usually waived if senders/recipients are technically "private" parties (which, for online bet funding, they are).

If you want to make rapid deposits, you'll have to opt for the instant-pay portion of the service. Otherwise, the lead time is more in line with traditional sports betting banking options (like wire transfers) and is less ideal for those looking to bet on today’s games.

To use Venmo sportsbook sites like Bovada, you can’t employ the service directly. You can purchase Bovada Voucher codes from fellow sportsbook members using Venmo, or sell them to get paid quickly.

Venmo Betting Apps

Is It Legal To Use Venmo To Bets On Sports?

Yes. Because it is legal to place online sports bets with service providers operating overseas, you’re breaking no US gambling laws when doing so. Additionally, because it is legal to use Venmo to fund all lawful transactions, you are free to use the service in conjunction with sportsbook vouchers, player transfers, and MatchPay to send money to or receive money from other US-based members at participating sites.

In Washington state, there are laws on the books barring individuals from all online gambling, including sports betting. However, these laws don’t appear to be enforced or enforceable, and the best online sportsbooks all accept members from WA. Nevertheless, you are advised to follow all local gambling laws.

Benefits Of Banking With Venmo

The following Venmo pros are why it can make online sports bet funding easier than ever:

  • Instant transfers allow you to fund your sportsbook bankroll in just minutes instead of days
  • Reasonable betting limits suitable for the vast majority of bettors
  • No added fees for voucher/transfer/MatchPay deposits or withdrawals
  • Use your existing account for maximum convenience
  • Mobile-friendly app for those who like to handle all their banking on the go
  • Make quick, easy deposits and withdrawals
  • Earn online sports betting bonuses with sportsbook voucher deposits
  • Claim same-day payouts when selling your eligible account balance via voucher, player transfer, or MatchPay

Sportsbook Promo Codes

Whenever you sign up at a legal online sportsbook – or whenever you make a fresh deposit into your account – you’ll be eligible to receive deposit-match bonuses that adds significant extra cash to your bankroll.

While cryptocurrencies offer enhanced sportsbook bonuses, Venmo bonuses are in line with the typical deposit perks you get for using non-crypto. (Thus, if you want the absolute biggest bonuses available, you should go with Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Stellar, Ripple, USD Coin, Chainlink, Dogecoin, etc.)

That said, crypto is inconvenient for many users, as there's a learning curve to setting up your accounts and transferring assets to and from the exchanges. Crypto acquisition also has an enormous 10-day lead time when using USD or other fiat currencies to buy Bitcoin and various altcoins for the first time (which you can bypass if you use Zelle to buy Bitcoin from private sellers on a third-party exchange).

For those who want to easily deposit USD with Venmo, the voucher/player transfer model or MatchPay service are far better options. And while you won’t get quite the same big boosts to your bankroll that crypto bonuses offer, Venmo sportsbook bonuses are still well worth accepting, as they come with low rollover requirements and allow you to be a high roller right out of the gate.

Can It Be Used On Mobile Sportsbooks?

Mobile sports betting is where the action is, and that means it’s also where the money is. Let’s face it: If you can’t use your smartphone or tablet to bet on the go, you probably aren’t going to bet. To that end, because all the top legal sportsbooks recommended here support mobile wagering, it only makes sense that you should be able to easily fund your account via mobile.

Venmo allows for just that. And because vouchers, player transfers, and MatchPay are also mobile-optimized, you can handle all of your sports betting on your portable device of choice. Best of all, while you can and should download to iPhones or Androids, when it comes to the books themselves – and to the voucher/transfer model – everything is fully mobile-optimized and browser-based.

That is, you don’t need a dedicated sportsbook app for iPhone or Android, and you don’t need one to use Venmo, either. As long as you have a modern mobile device, an Internet connection, and an up-to-date web browser, you can use their P2P services to gamble on the go from anywhere in the USA!

Same-Day Payouts

When you use Venmo at legal offshore betting sites, you won’t only be able to make deposits to fund your wagers, you’ll also be able to sell all or part of your account balance to other sportsbook members by requesting a voucher code from your site's cashier and then selling that to another player. And if you use MatchPay, you don't even have to do that, as MatchPay automates the pairing process!

Because these members will be buying your balance in a private person-to-person transaction, this often allows you to claim same-day payouts. Previously, same-day payouts were the sole domain of crypto sports betting, but vouchers, transfers, and MatchPay allow bettors to get their money in USD deposited directly into their accounts, which they can then use immediately to purchase goods and services stateside.

Venmo same-day sportsbook payouts are actually more convenient than same-day Bitcoin payouts or other crypto payouts, because these withdrawals come directly to you in US dollars – You don’t have to move your money to exchanges and then go through any extra steps to turn that money into USD.

Buying And Selling Vouchers/Player Transfers

Now that you know why the voucher code Venmo deposit option is such a revolution in terms of convenience and accessibility, you’ll need to understand how the sports betting voucher deposit process works. This is simple enough, but it does require you to engage with your online betting community.

While every sportsbook that supports vouchers and/or player transfers will walk you through the steps required, we can replicate those here, as they're mostly universal.

For our example, we will be using Bovada’s process, as Bovada Vouchers are the first iteration of the method to roll out. However, the procedure should be identical for any other site that employs sports betting voucher or player transfer options in the future.

  1. Follow any link on this page to Bovada Sportsbook (or another voucher-compatible betting site).
  2. Sign up using your real information, including your name, birthday, email address, and phone number. Be sure to use verifiable info, as you will need to prove your identity with your sportsbook operator before you’ll be able to withdraw any sports betting winnings. Please do not sign up behind a VPN service, as your IP address must be legitimate and originate from a region your sportsbook supports.
  3. At the “Deposit” stage of sign-up, select the Voucher or Player Transfer option.
  4. Check out the Bovada Community pages or an external site like the Bovada Reddit for a Bovada Voucher code for sale. Once you find one for an amount you like, pay the seller in a private transaction. You will be able to set up a direct Venmo payment to the member.
  5. Once the trade is accepted, the seller will release the voucher code to you. Simply enter this code at the relevant Bovada deposit menu, select any bonus you wish to have applied to your account, and your funds will be available immediately. (Instant transfers come with minimal added fees, so be sure to factor this into your bankroll management process.)
  6. Now that your account is fully funded with vouchers, you are ready to bet on sports or enjoy casino games and any other betting markets offered by your chosen sportsbook operator.

Note: The process for claiming a payout is largely the same, only you're on the other side of the equation. As a seller, you'll need to request a payout via the voucher/player transfer option, enter in the amount of your account balance you wish to pull out, and post an ad to sell the voucher code generated by your site's cashier. Once a buyer contacts you, conclude the deal, release your voucher code to the buyer, and you're done!

How To Use Venmo With MatchPay

MatchPay betting deposits and withdrawals work exactly like sportsbook vouchers and player transfers, but there are considerably fewer hoops to jump through. MatchPay is a third-party service that automatically pairs up sports betting account buyers and sellers and concludes these transactions using Venmo or any other P2P app or e-Wallet you assign.

To use MatchPay, you do have to sign up for the free service, though this only takes a minute. Currently, Bovada is the only legal sportsbook that supports MatchPay, and you can join right through the site's cashier page. After you've created your MatchPay account, anytime you want to make a Venmo deposit or claim a same-day Venmo payout, just choose the MatchPay option, enter in the amount you'd like to buy or sell, and the service takes care of the rest.

MatchPay makes the voucher/transfer process much easier, but it has one drawback to be aware of, which is that MatchPay banking limits are much lower than those for vouchers or transfers. However, this is a small price to pay for Venmo support, no-fee deposits, and same-day payouts all in one.

Frequently Asked Questions

Disclaimer: Venmo is a third-party P2P payment processor and eWallet service. Venmo does not endorse this site or any online sports betting site in any way. This page is for informational purposes only. 

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