Over in the US, Venmo has made a big name for itself in recent years. Its appeal is obvious; users can split the bill easier, in addition to paying for items – both on and offline – with minimal friction.
Having said that, it’s not very well-known (or widely used) within the online casino space. And you’ll soon find out why you can’t use it for deposits and withdrawals at your favourite Irish casino.
In this article, you’ll find out what Venmo is and why it’s so popular. You’ll also find out whether an Irish equivalent for this payment service exists and some alternatives for online casino payments.
What is Venmo and Why is it Popular?
Owned by PayPal, Venmo serves the US market and was initially designed with a social aspect. The core use for this app is to help people split bills – whether that’s for utilities or eating in a restaurant.
Venmo also allows users to share their payments with friends, who can share and like – so basically, like a financial version of Facebook.
In addition to fiat currency offerings, you can also buy cryptocurrencies through the service.
Over 50 million people actively use Venmo. Its popularity stems from the fact that you can make instant payments with the platform, along with its overall ease of use. Moreover, customers can pay in various places – such as at their favourite online store.
What’s the Irish Equivalent of Venmo?
Unfortunately, Venmo does not operate in the European Union (EU), which means you can’t use the service in Ireland. At the same time, though, we live in a pretty advanced country regarding fintech adoption.
One previous social payment method similar to Venmo was Plynk, which was founded in 2015. But its venture was short-lived, and the company filed for liquidation in 2018.
At the moment, Ireland doesn’t really have a standout social payment provider that does the exact same thing as Venmo. The closest equivalent might be Wise, formerly known as TransferWise. You can use Wise to set up a dedicated EUR bank account and obtain a debit card for online and offline payments.
Can I Use Ireland’s Venmo Equivalent for Online Casino Payments?
Wise is an excellent option if you want to send money to people in other countries. It’s also a good choice if you’ve just moved to Ireland from a non-Eurozone country and you’re still waiting to set up an Irish bank account.
However, when it comes to online casino payments, Wise isn’t your best choice.
The company’s official policies put gambling under the category of “restricted activities”, and on a more granular level, “regulated or illegal products and services’.
You cannot use your Wise account to perform any of the below gambling activities:
- Games of chance where the prize is cash;
- Lotteries;
- Fantasy sports where you can win cash.
Wise also explicitly states that beyond those listed in section 1.2.1 – j of its acceptable policy use, transactions with “any other type of business related to gambling, up to Wise’s own discretion” are forbidden.
If you violate Wise’s policies, you might find that the company chooses to suspend or permanently close your account. So, you’re better off looking elsewhere and not getting yourself into trouble.
Venmo Alternatives for Irish Online Casino Payments
Okay, so you can’t use Venmo in Ireland – nor can you use Wise to make Irish online casino deposits and withdrawals. What can you do now?
If you’re not sure about the best way to make payments to your account, don’t worry – you’ve got plenty of alternatives. Below, we’ve listed four that you should consider trying out for online casino payments.
PayPal
If you can’t use Venmo, you might as well use the next best thing. PayPal works pretty similar to Venmo, though it has less social aspect than the app it purchased back in 2013.
When using PayPal for Irish online casino payments, you can deposit and withdraw money with minimal issues and zero fees. And since you’re able to link your bank account, you don’t need to worry about too many problems when the time comes to move your winnings around.
PayPal is widely accepted at Irish online casinos and will offer you both anonymity and high levels of safety.
The pros of using PayPal for Irish online casino payments include:
- Fast, stress-free deposits and withdrawals;
- Accepted at many of the best online casinos in Ireland;
- It’s easy to sign up for a PayPal account.
The cons of using PayPal for Irish online casino payments include:
- Not accepted at all Irish online casinos.
- PayPal can sometimes hold your winnings for a long time, especially if you’re a new user.
N26
Headquartered in the German capital Berlin, N26 is one of the best-known mobile-only banking solutions on the market. Although it pulled out of the UK market due to Brexit, it’s still very much alive and kicking on the other side of the Irish Sea.
N26 customers can receive a debit Mastercard, which they can use to make transactions online. The process for doing this is identical to if you used a debit card for your primary bank.
Can you gamble with N26? In short, yes. However, it’s essential to remember that you’ll need to pay a 3% surcharge on all transactions – which the company uses for social responsibility purposes.
The pros of using N26 for Irish online casino payments include:
- Paying with the Mastercard at an online casino is straightforward.
- N26 has a user-friendly app that you can access 24/7.
- Besides online casino payments, you can use your N26 account when travelling abroad or shopping (both on and offline).
The cons of using N26 for Irish online casino payments include:
- Every time you make an online casino payment, you’ll get charged 3% on top of the transaction’s total.
- You can only manage your N26 account from a mobile device.
Neteller
Neteller is one of the oldest names in online casino payments and still controls a pretty sizable market share today. You’ll find this solution available on almost every casino site you visit, and the platform was designed with gambling in mind – meaning you won’t have any issues moving your money around.
Since Neteller is a digital wallet, you can use your account both for deposits and withdrawals. Moreover, you can either transfer your winnings to your account or keep them there and pay for items online.
The pros of using Neteller for Irish online casino payments include:
- Neteller has two loyalty schemes to keep in mind – the VIP version and Knect, which is more accessible.
- Most Irish online casinos will offer Neteller as a payment option.
- Neteller offers a prepaid Mastercard that you can use to control your spending.
The cons of using Neteller for Irish online casino payments include:
- Moving your money around online could come with fees, such as transferring to your bank account.
- To receive the winnings in your account, you might need to wait a few business days for everything to process.
Venmo is a No-Go for Irish Online Casino Payments, but the Alternatives are Solid
Venmo is an excellent payment option in the US, but you’ll need to look elsewhere if you live in Ireland and want to make online casino payments. Fortunately, as an advanced economy, you’ll find plenty of alternatives here.
In this article, we gave you three alternatives to Venmo that accommodate gambling transactions. But plenty more exist, too, so make sure you’ve done plenty of research before making a decision.