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Venmo betting sites in New York

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Bettors always check the available payment options on a sportsbook before signing up with them. This is because they want to work with an operator who has a wide range of reliable options. Venmo is one of the payment methods that reputable sportsbooks in New York accept. Keep reading to learn more about Venmo betting sites in New York.

What is Venmo?

Venmo is a mobile payment service owned by PayPal, another household name, since 2012. With headquarters in New York, Venmo was founded in 2009 to primarily help loved ones split bills for lunch, movies, tickets, rent, and so on. So, how does it work? Two Venmo account holders can transfer funds to each other using the company’s mobile app.

As time went by, Venmo started being used beyond its original function. This led to the company broadening its services. In 2018, it released a physical debit card powered by Mastercard. The card offers ATM access, which made it more convenient for clients. Today, the company works with a wide array of industries, including online gambling sites in New York.

Best Venmo betting sites in New York

Several betting sites in New York allow clients to make transactions using Venmo. Here are examples.

  • William Hill New York – William Hill is a renowned sportsbook in NY and across the US. It was acquired by Caesars Entertainment in August 2021, a move that significantly benefited both names. This sportsbook accepts Venmo, and it processes payments within a short time. In addition, it has a vast range of sports markets, bet types, features like live betting and cashout, and excellent customer support. Moreover, when you sign up, you will access an outstanding loyalty program called the Caesars Rewards. In this program, you will earn points for almost anything you do on the site. Additionally, these points can be redeemed in select destinations in the country. This makes it a great betting site if you are looking for a unique gambling experience.
  • 888 New York – 888 is one of the most secure New York betting sites that accept Venmo. The sportsbook offers decent odds to help clients make huge wins. Additionally, you can bet on numerous sports markets, including football, soccer, tennis, golf, rugby, volleyball cricket, and so on. You can also bet on cultural events. 888 New York has a bet calculator that helps clients estimate how valuable a bet would be, and in turn, make the right moves. Furthermore, the sportsbook has a virtual sports section, which allows you to bet on virtual sports like football, golf, tennis, racing, greyhounds, and so on. This is similar to betting on real-life sports. The difference is the sportsbook will determine when a match occurs. The promotion section of 888 also puts it on the map. It is filled with rewarding bonuses that have helped the sportsbook gain popularity in New York.
  • PointsBet New York – Another reliable betting site in New York that offers Venmo is PointsBet. This NY sports betting site has numerous betting systems, such as Moneyline, spread, totals, futures, parlays, prop bets, accumulators, and teasers, among others. Furthermore, PointsBet has several promotions, that can help you win more. In addition, the sportsbook has a loyalty program that earns members points. The sportsbook was founded in Australia but has successfully ventured into the US market due to its top-notch services. You can reach out to the customer support team through phone, email support, or live chat. The sportsbook also has an informative FAQ section and in-depth articles.
  • DraftKings New York – DraftKings sportsbook allows clients to transact with Venmo within a short period. Go to the deposit section to find Venmo on the payment method list. DraftKings offers a safe and convenient platform for bettors. Besides, it stands out in the industry as it allows clients to participate in daily and weekly fantasy sports contests. Moreover, the company offers effective responsible gambling limits to help clients control their gambling habits.

How to use Venmo on a NY betting site

Using Venmo as your preferred payment method on a NY betting site is straightforward. First, confirm that your Venmo wallet has enough balance. It should be above your chosen sportsbook’s minimum deposit limit. If you don’t, add funds using your linked prepaid card.

Then, log into your sportsbooks account, go to ‘Deposit,’ choose Venmo, enter your card details, enter the amount, and complete the transaction. Your deposit should reflect immediately. As you can tell, you won’t transfer funds to your sportsbook account directly from the Venmo app as you normally do when transacting money with other account holders. You need to have a Venmo Mastercard. Therefore, if you don’t have one yet, apply for it. The process is fast. If your chosen sportsbook doesn’t have Venmo in its payment list, choose Mastercard, and enter your Venmo card details. However, not all sportsbooks accept this payment trajectory. As of now, most sportsbooks accept Venmo as a deposit option only. You will need to use another payment method when withdrawing your winnings.

Pros and cons of Venmo betting sites in NY

Like any other payment method used on betting sites, Venmo has both pros and cons. They include.

Pros

  • Immediate payment – Venmo betting sites in New York process payments immediately. This allows you to start betting without delay. Hence, no more waiting for hours before a deposit can reflect on your bankroll. This is one of the qualities that make sportsbooks accept this payment method.
  • No fees – The accumulation of fees used in a sportsbook’s transactions can be high. Fortunately, most sportsbooks don’t charge users fees when they use Venmo. This means that you won’t deal with added or hidden fees. Note that Venmo will charge you standard fees for using their card, which is part of their business operations.
  • Secure – Using Venmo to make deposits on a sportsbook is secure because you don’t have to give your personal banking information. The only detail you will provide is your Venmo card information, which the operator won’t keep. Since Venmo is not widely accepted for withdrawals by betting sites, consider using another e-Wallet as you will still not provide your bank details. Nonetheless, you need to sign up with a betting site that is licensed to operate in New York for extra security. Ensure that your chosen sportsbook has included a licensing body and number on their website.

Cons

  • Not widely accepted – Venmo is not accepted by many bookmarkers, which is a major drawback. You may find a sportsbook that is suitable for you that doesn’t don’t accept Venmo. This means that you will need to continue with the search. However, as time goes by, this may change.

A history of Venmo on betting sites in NY

Venmo was not a common payment option on New York betting sites. After the company introduced its card powered by Mastercard, sites like William Hill, 888, PointsBet, and DraftKings, started accepting it for deposits. This changed the gambling industry, especially for users who didn’t want to provide their bank details.

Some Venmo betting sites in New York offer new clients a welcome bonus when they use Venmo to make their first deposit. This shows that operators are encouraging customers to use this payment option on their platforms. As of 2022, many bettors use Venmo, and the number so expected to rise. The industry hopes that in the near future many sportsbooks will accept Venmo as a withdrawal option.

FAQ

How to check if a NY betting site accepts Venmo?

Click the banking section to get a list of all the accepted payment methods is the way to check if a NY betting site accepts Venmo. When you see Venmo on the list, the site accepts it. However, if Venmo is not available, but Mastercard is, you can still make a deposit from your Venmo card through the Mastercard option. The good news is that Mastercard betting sites are very popular, so you should be able to top up either way. Reach out to the customer support team of your chosen sportsbook if you need clarification.

Can I use Venmo on all NY betting sites?

No. Not all NY betting sites accept Venmo, but this is expected to change soon as more of them are considering it. The above question discusses how you can tell if a sportsbook accepts Venmo. If you have a Venmo account, it will be best to get a Venmo Mastercard as this helps you make the payment option more convenient for you.