Online gambling operators are constantly adopting new payment solutions to accommodate players and their banking needs. Venmo is among the latest additions to casino cashiers, although the method is hardly new.
Available exclusively to payees from the United States, Venmo emerged in 2009 as a mobile payment solution that enables users to seamlessly transfer money from their cards or bank accounts. Paying from one’s Venmo balance is also an option.
| Venmo Summary | |
|---|---|
| Available In | The United States |
| Website | www.venmo.com |
| Connecting Bank Card/Account to Venmo | Free for bank accounts; 3% for transfers from credit cards |
| Withdrawing Balance from Venmo to Bank Card/Account | Free for standard transfers to bank accounts; 1.5% fee for instant transfers to linked debit cards or bank accounts |
| Pay to Online Merchants | Free |
| Available for Deposit | Yes |
| Available for Withdrawal | Yes |
| Usual Deposit Time in Online Casinos | Instant |
| Usual Withdrawal Time from Online Casinos | Between 24 and 72 hours |
| Live Chat | Yes |
| Telephone Support | 855 812 4430 (Monday to Friday from 10 am to 6 pm EST) |
| Email Support | support@venmo.com; contact form |
A subsidiary of the global fintech company PayPal since 2013, Venmo started as a mobile bill-splitting service for friends and relatives. The method has now made its way to some US-facing online casinos where players can use it to manage their real-money balance. Users also have the option to apply for a Venmo debit card and use it across all US merchants that work with Mastercard.
Venmo stands out from other payment methods because it adds a social element to mobile banking. Users can attach animated stickers and emojis to their mobile payments and share the transactions on their Venmo feed. Commenting on money transfers is also possible with Venmo, which makes the method strikingly similar to social media platforms like Facebook.
Venmo Registration Process
Venmo is easily one of the most well-loved and frequently used payment processors in the US. Its standout feature is speed; it is one of the fastest payment solutions available today, making it a perfect fit for avid casino fans.
It is hardly a surprise that Venmo is so widely preferred by gambling enthusiasts, as creating an account comes at no cost. No monthly fees are charged, which means the payment method excels in cost-effectiveness.
Once players have found an online casino that meets their requirements and facilitates payments via Venmo, they should take some time to find their bearings when it comes to the registration process.
- Signing up for a Venmo account is exceptionally straightforward, and the first thing avid casino fans need to do is download and install the app designed for iOS devices or the one for Android smartphones and tablets.

- Next, they will be asked to decide whether they prefer to register for a personal or business account. After choosing, gambling enthusiasts must provide their phone number. They should make sure they have not mistyped it, because they will receive a code they need to enter.


- Once players have provided the four-digit code, they will be prompted to set up their accounts. They need to enter their first and last name, a valid email address, a username, and a password. Avid casino fans must also confirm that they are at least 18 years old, then agree to the terms and conditions.

- Players should then review the privacy settings and decide whether to keep their transactions private, public, or visible only to friends.

- Finally, they must review the payment methods available to fund their Venmo balance and pick the one that meets their needs. Adding funds is possible via bank transfer, direct deposit, or by cashing a check. They can also receive money through merchant refunds or transfers from other Venmo accounts.

How Venmo Works
Using Venmo for Gambling Transactions
Players must set up Venmo accounts before they can use the method for online gambling transactions. Creating an account comes at no extra cost and requires only a couple of minutes. Entering some basic personal and banking information is necessary, starting with a valid ten-digit mobile phone number and email address. Note that the method works only with US mobile numbers.
Venmo will then send you a text message with a four-digit code you must enter in the designated field to verify your mobile phone and proceed further. Venmo users must confirm both their email addresses and phone numbers before they can transfer money from their accounts or request payments.
Under regulations of the US Treasury Department, users may also have to provide their Social Security numbers if they send $300 or more within a single week. SSN verification is again necessary whenever customers transfer amounts exceeding $1,000 to their bank accounts within seven days.
Once players complete the registration process and connect Venmo to their cards or bank accounts, they can start using the method for online casino deposits. Depositing from one’s Venmo balance is also possible. If the Venmo balance is insufficient, the system will automatically pull the required amount from the linked card or bank account.
After you find a US-friendly online casino that supports Venmo and register there, simply load the cashier and select the method from the available deposit options. Specify the sum you wish to transfer to your real-money balance and follow the casino’s instructions to complete the transaction. The funds should be available in your casino account shortly after.
Since Venmo is a subsidiary of PayPal, you might be able to use it at casinos that work with the e-wallet. Tap the icon with the PayPal logo on your smartphone to initiate the PayPal checkout process. Venmo will then appear as a banking option on the next page if available. If so, the cashier will prompt you to select one of two options: “Pay with PayPal” or “Pay with Venmo”.
The withdrawal procedure is quite similar, although the funds will require a bit more time to clear because of casino verification policies. Users receive money from others straight to their Venmo balance and can leave it there for future deposits. Alternatively, players can transfer the withdrawn funds to a linked bank account, credit card, or debit card.
| Venmo Gambling Transactions | |
|---|---|
| Supported Transactions | Deposits, withdrawals |
| Deposit Pending Time | Instant |
| Withdrawal Pending Time | Up to 72 hours (varies across casinos) |
| Additional Security | Log-in required |
Advantages and Disadvantages of Venmo
Cost-effectiveness and convenience are among the biggest advantages of using Venmo for gambling-related transactions. Paying for online purchases via the Venmo mobile app does not involve any additional expenses. The same goes for sending and receiving money to and from friends, family, and online businesses from the Venmo balance, linked debit cards, and bank accounts. Topping up the Venmo balance from one’s bank account is also free of extra charges.
Another advantage of this payment method is that it facilitates cryptocurrency transactions. Users can purchase or sell digital currencies and store them in their Venmo balance. Venmo partners with the brokerage platform Paxos for this purpose and supports several major cryptocurrencies, including Bitcoin Cash, Bitcoin, Litecoin, and Ethereum.
The service is available to all Venmo customers from the US except those based in Hawaii. Limits on crypto transactions are in place: you can purchase no more than $20,000 per week and up to $50,000 per year.
Venmo is convenient and easy to use for online gambling transactions. We are confident players who have previous experience with the PayPal platform will have no issues when banking with Venmo. There is virtually no learning curve. All you have to do is download the app, sign up, verify your account, and link it to your personal bank account or card.
Venmo users can acquire Venmo debit cards at no extra cost. The Mastercard-branded debit cards are linked to customers’ available Venmo balance, allowing them to initiate transactions at merchants based in the United States and US territories. You can apply for one via the Cards tab of your Venmo account and will receive it within fifteen days of approval.
Additional Advantages and Disadvantages of Venmo Venmo Visa-branded credit cards are also available to registered customers with verified accounts. These offer various perks, including contactless transactions, personalized QR codes, and cash-back rewards when making online purchases. On the downside, only select customers are eligible for credit cards.
Last but not least, Venmo involves a social-network element as it enables you to interact with your friends. During registration, the app will prompt you to give it access to your contacts so you can add acquaintances who also use Venmo to your friend list. You can attach comments, custom emojis, and animated stickers to your payments for your friends to see in their feed.
And now for the downsides. The biggest drawback is that Venmo is available only to players who reside in the United States. Another notable disadvantage is that the method does not support purchases from international merchants. Consequently, you can use it only at a select few US-based casinos.
Venmo is a mobile-first payment service, so you need a compatible smartphone or tablet to make online purchases. The company started to phase out support for its web platform in 2018, so paying and requesting money are currently unavailable to desktop users. The combined weekly ceiling on transactions is low at $6,999, which renders Venmo unsuitable for online casino high rollers.
One more drawback is that other Venmo users can see your purchase history. We suggest you adjust your privacy settings, where you can choose to share your purchases with friends only. You can also make the history private, in which case the information will appear only under the Your Stories tab of your feed.
Venmo Fees for Gambling Transactions
As mentioned earlier, Venmo is a very cost-efficient way to manage your online gambling funds. When fees apply, they are nominal and clearly stated to prevent unpleasant surprises. There are no fees for monthly maintenance or setting up an account. Paying for online purchases or transferring funds to people via your Venmo balance, debit card, or bank account also comes at no cost. However, there is a 3% fee when you send funds through a Venmo-connected credit card.
Receiving money from fellow Venmo users is not associated with extra expenses, either. Standard electronic transfers from the Venmo balance to a linked bank account are also free. You will incur a 1.5% fee if you use instant electronic transfers to withdraw funds to your bank account or debit card. These fees start at $0.25 and cannot exceed $15 per instant electronic withdrawal.
The fees for purchasing or selling cryptocurrencies via Venmo start at $0.49, but the exact charges are amount-specific. Venmo Mastercard withdrawals from non-MoneyPass ATMs are charged $2.50, while signature withdrawals at a bank desk cost $3.
| Venmo Fees | |
|---|---|
| Gambling Deposit Fee | Free |
| Gambling Withdrawal Fee | Free |
| Bank Account Deposit Fee | Free |
| Bank Account Withdrawal Fee | Free for standard bank transfers |
| Credit/Debit Card Deposit Fee | 3% for sending funds directly from a credit card |
| Credit/Debit Card Withdrawal Fee | 1.50% for instant transfers to linked debit cards |
| Maintenance Fee | None |
Processing Times with Venmo
Apart from being cost-effective, Venmo also serves as a time-efficient way to manage your online gambling transactions. Deposits with this mobile solution are typically instant at Venmo casinos. As far as withdrawals go, you will have to wait a little longer because of the verification policies implemented by gambling operators.
The casino must first approve your withdrawal request before it releases the funds from your balance. The timeframes necessary for verification are operator-specific, ranging from several hours to three business days. The waiting times are normally available on the payments page, but you can always ask a support representative if you fail to find them.
Adding money to the Venmo balance via a linked bank account might require three to five working days. Users who have acquired Venmo debit cards can top up their balance immediately but are restricted by a weekly limit of $500.
Moving funds in the opposite direction is also possible and takes one to three business days. Players who are in a hurry to withdraw from their Venmo balance can use instant transfers. In this case, the funds will hit their bank accounts within about half an hour. Speed comes at a cost, though, as instant transfers are associated with a 1.5% transaction fee. The Venmo debit cards connect directly to your available Venmo balance, so no extra steps are necessary to move the funds.
| Venmo Processing Times | |
|---|---|
| Gambling Deposit Time | Instant |
| Gambling Withdrawal Time | Varies across casinos |
| Bank Account Deposit Time | 3 to 5 working days |
| Bank Account Withdrawal Time | 1 to 3 working days, 30 minutes with instant transfers |
| Credit/Debit Card Deposit Time | Instant for holders of Venmo debit cards |
| Credit/Debit Card Withdrawal Time | Instant for holders of Venmo debit cards |
Mobile Payments with Venmo
Venmo is the ideal solution for smartphone and tablet casino players because it is intended primarily for use on portable devices. Furthermore, sending and requesting money is possible only on mobile. The company started to phase out its web services back in 2018. When it comes to compatibility, Venmo works on any smart device that runs on Android 5.0 and iOS 12 or higher.
Regardless of the operating system you are using, your phone should be able to accept short-code messages. Those who use iPhones and iPads should head over to the App Store to download the iOS app for free. The Venmo iOS app is the third most popular finance app in the App Store, boasting a 4.9-star rating out of 5.
Android users can obtain their application from the Google Play Store. English is the only supported language, but this makes sense considering Venmo is available within the United States only.
The developers behind Venmo constantly fine-tune the app to deliver a seamless experience to all smartphone users. It is highly recommended to install updates regularly if you want your Venmo app to run as smoothly as possible. Connecting the app to Google Pay or Apple Pay is also possible.
| Venmo Mobile Payments | |
|---|---|
| Apple Pay | Yes |
| Google Pay | Yes |
Security at Venmo Online Casinos
Venmo implements advanced encryption to safeguard users’ financial and personal data. Various other measures are also in place to protect you and your payments. For starters, there is a multi-factor authentication process when you log in, which adds an extra layer of security. The platform might send you a six-digit code to the mobile number you registered with Venmo.
Users who have connected bank accounts or cards to their Venmo accounts can authenticate themselves by verifying their banking information. Alternatively, you can give the app permission to remember your smartphone as a trusted device. Doing so enables you to skip code confirmation on future log-ins.
Another great thing about Venmo is that it enables you to add a PIN to your account for additional safety. The app will then prompt you to enter this passcode each time you attempt to sign in. Just navigate to Settings and tap Security, where you can activate this feature.
Venmo also supports biometrics for authentication purposes, such as fingerprint and Face ID. In fact, the app first uses Face ID and asks for the passcode only if the biometric fails. As part of the PayPal family, Venmo is heavily regulated by several federal agencies in the US, including the Consumer Financial Protection Bureau and the Financial Crimes Enforcement Network (FinCEN).
The mobile payment platform recently attracted criticism for its global public feed, which enabled everyone on the internet to view users’ transaction history. The good news is the company ditched this practice when it came under regulatory pressure. The fact that BuzzFeed reporters managed to find the Venmo accounts of President Biden and his wife within ten minutes of searching also prompted the company to step up its privacy game.
| Venmo Security | |
|---|---|
| Passcode | Yes |
| Fingerprint | Yes |
| FaceID | Yes |
| Two-Factor Authentication | Yes |
| Trusted Devices | Yes |
| IP Restrictions | N/A |









