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Venmo betting sites in Minnesota

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Venmo is widely used by the younger generation of bettors. It is gaining popularity in the Minnesota gambling industry thanks to an increasing number of casinos adding it to their banking methods. This article provides detailed information on how to use Venmo and a list of Venmo betting sites in Minnesota.

What is Venmo?

Venmo is a peer-to-peer, instant-pay service owned and operated by Paypal. It allows users to move money from a bank account, credit, or debit to an online sportsbook. Although Paypal and Venmo are from the same provider, punters prefer the latter because of its social aspects. Users can automatically share screens of payments directly to social platforms.

Typically, it takes between 1 and 3 days for Venmo transfers to reflect, but there is an instant-pay option available. Instant transactions include a minimal fee added, though the fee is waived if the player is transacting with private parties(which include online casinos).

To use Venmo, some platforms allow direct transactions while for others, punters have to buy voucher codes which can then be used to redeem funds. However, for quick transactions, players should opt for the instant-pay service. Furthermore, Venmo is not only available for deposits but for withdrawals as well, but only a few casinos have this option.

Most commercial industries have employed a P2P instant payment system to aid customer transactions and payments. Similarly, sportsbooks and online casinos in Minnesota have partnered with several online wallets to help with player deposits and withdrawals. One such platform is Venmo, which gives punters an easy and quick way to perform transactions online.

How to use Venmo on a betting site in MN

If a bettor is interested in joining Venmo betting sites in Minnesota, they are required to first set up an account. The platform offers a user-friendly website that makes the registration process effortless. All a player needs is a few clicks and keyboard strokes and they will be ready to transact. Here is a step-by-step guide on how to get started with betting sites that accept Venmo.

  1. Sign up for Venmo – Players can either use the mobile application available for iOS and Android devices or the desktop website to create an account at Venmo. First, there have to load up the platform and then click on the sign-up button. Provide the required details, including name, email address, and phone number. Create a unique password and confirm it. After creating the account, a player has to verify their identity using the provided phone number, social security number, a copy of an ID, or a driver’s license.
  2. Add funds to your Venmo account – When verified, punters can now deposit money into the Venmo account via bank transfers or through credit or debit cards. To use a bank account, go to Manage Balance from the Venmo dashboard. Tap on the Add Money button, enter the amount to deposit, confirm the bank details, and tap on Add Money. This transaction can take between 1-3 business days. Alternatively, players can use the Venmo Mastercard for instant deposits if they have been approved.
  3. Choose Venmo as your deposit method on the online sportsbook – Before players transfer funds to Venmo betting sites in Minnesota, they need to check whether the bookmaker accepts this payment option. If it is available, they can then proceed by logging into the bookmaker’s website. Click on the Deposit button, usually under My Account. Enter the amount you wish to deposit and choose Venmo as the payment option. Approve the transaction and funds will be sent instantly.

Best Venmo betting sites in MN

Sportsbooks are categorized according to the services they offer. Regardless of the payment methods, an excellent betting platform should have the best game selection, reliable customer service, and user-friendly platforms. Although there are a good number of online sportsbooks in Minnesota that accept Venmo, few of them stand out. This section highlights the best Venmo betting sites in Minnesota.

  • DraftKings – DraftKings has been in the US online betting market for over three years, since its launch in August 2018. It is one of the best places for players to enjoy reliable online sports betting. The platform is desktop and mobile compatible with a user-friendly interface for easy navigation. Currently, it boasts an excellent selection of markets from all over the world and a live betting section that stands out. Betting markets include NFL, MLB, NHL, and the NBA. Furthermore, players also will participate in regular contests with amazing prizes for the winners. New players usually get to enjoy amazing offers including deposit match bonuses in MN, plus free spins for casino players, and reliable customer support channels. Best of all, DraftKings accepts Venmo as one of its banking methods. This makes it easy for players to deposit and withdraw funds from the betting accounts.
  • BetRivers – Closely following DraftKings, BetRivers is among the most popular betting sites that accept Venmo. It has a reputation for quick payouts, attractive bonuses, and a great desktop website. The platform was established back in 2018 under the management of Rush Street, a Chicago-based company. New sportsbook players receive generous bonuses from a range of exciting promotions to kick-start their betting journey. Customer support at BetRivers is reliable, with different options to get help. Players can use email, live chat, or call in directly. The help center also provides answers to frequently asked questions. With a license from different licensing agencies and the latest encryption, players will enjoy a safe gaming environment. When it comes to banking methods, punters have a good number of options, including Venmo. This allows players to quickly move funds to the sportsbook and cash out with ease. The minimum withdrawal for the sportsbooks is $10 and transactions are processed instantly.
  • Pointsbet – Compared to other online betting platforms in the MN, Pointsbet approached the market differently. It offers a unique high reward, high-risk Points betting format. This simply means the more games a player gets right, the bigger the reward, and vice versa is also true. The sportsbook joined the market back in 2019 and has seen rapid growth throughout its tenure. In terms of betting options, players can place bets on different sporting events in over 200 markets, including the NBA and Champions League matches. Pointsbet also has competitive odds compared to industry giants such as William Hill and BetMGM. The Points betting feature allows players to win as much depending on the results of the bet, Pointsbet’s customer service is reliable with a live chat option, phone number, and email as available methods. All these methods are available 24/7, allowing players to ask questions about the betting platform.
  • FanDuel – Having launched back in 2018, FanDuel has since grown to join the elites in the online betting industry. It offers a wide range of sporting events to bet on including future markets which stand out. Futures allow bettors to place long terms wagers with competitive odds. Popular sports players can bet on include cricket, cycling, basketball, and soccer. Another unique feature of FanDuel is the ability to stream matches. This is crucial to players who prefer live betting, although it is accessible to all players with an account. The live stream feature is available for players using either mobile or desktop platforms. In case players face issues on the platform or need answers to some questions, they can reach support which is available 24/7. They can use live chat, email support, or call in directly to speak to an agent. Apart from Venmo, there are other payment options available at FanDuel with instant payouts.

FAQ

How to check if an online sportsbook in MN accepts Venmo?

You can check if an online sportsbook in Minnesota accepts Venmo by looking in the payment section. Check the list to see if Venmo is included. Alternatively, players can reach customer service using one of the available contact methods to request this information. With its popularity, more casinos are adding this payment method to their list of banking options.

Will Venmo charge me fees for depositing on betting sites in MN?

No, Venmo will not charge you fees for depositing on Minnesota betting sites. As stated earlier, depositing funds to an online wagering platform using Venmo is free since it is classified as a private transaction. This also applies to withdrawals where players won't pay a dime. However, for those sending money using a credit card, a 3% fee is charged. Similarly, a 5% fee is charged if players choose the speedy cash feature.

Is Venmo a safe way to deposit on betting sites in MN?

Yes, Venmo is a safe way to deposit on betting sites in Minnesota. Similar to other online wallets, Venmo uses a state-of-the-art security system to protect customers' information and funds. The most advanced feature in terms of security protocols is the 256-bit data encryption. With this technology, information leaving a computer or mobile device is secured. In case the user faces issues with payments, there is 24/7 customer service.