The creators of Tether managed to merge two financial worlds: the fiat and the digital. As the result, their cryptocurrency combines both technological benefits of blockchain technology and the stability of the currency backed by the US Department of Treasury.
The key feature of Tether tokens is that they are not much affected by the vagaries of cryptocurrency market. Instead, they are pegged against the rate of US dollar. That is where the name ‘stablecoin’ comes from.
Naturally, crypto gambling sites almost immediately snapped at such an interesting coin. It quickly gained popularity and became one of the main ways of gambling in online casinos using cryptocurrency. Its reliability and relative accessibility were two main reasons for that.
Widely regarded as some sort of crypto intermediary, USDT has become the most traded cryptocurrency asset. According to recent data from Coinmarketcap.com, the daily trading volume of Tether ranks this coin the first among all other cryptocurrencies, with more than $101 billion per 24 hours now. This value is twice as much as the Bitcoin’s.
Some people may remember several relatively recent controversies related to the real backing of USDT and its impact on the price of Bitcoin. That being said, the cryptocurrency still holds its place in the top 10 of Coinmarketcap market capitalization ranking and is actively used as a means of payment.
Cryptocurrency casinos are eagerly using Tether as a payment option. This altcoin is fairly popular and often mitigates the headaches that come from the uneasy relationship between cryptocoins and payment systems — for both the websites and their users.
Below you will find several websites with Tether casino games, which have earned some recognition in the gambling community and continue to provide excellent services with lucrative promotions.
Crypto casino Winz is one of the best places to play USDT slots, roulette, blackjack, and other games. Its collection of more than 5,000 games includes realistic live casino games and amazing jackpot slots. Top-notch quality of gaming products is guaranteed by such well-known casino game providers as Microgaming, Play’n GO, Yggdrasil, Pragmatic Play, and many others.
Tether casino Winz complements its game variety with great bonus offers for registered users. For instance, right now there are several promo codes for special bonuses in slots and table games. They allow you to get free spins or a percentage of your wagers back after you make some relatively small deposits.
Experienced casino players will pay attention not so much to the size of Tether bonuses as to the lack of wagering requirements. Winz Casino has decided to remove the wagering requirement on the welcome free spins altogether, so any winnings you make from these free spins will go directly to your main balance. The same applies to the wager-back bonus in USDT table games.
Extra entertainment does not end there as USDT casino Winz provides its users an opportunity to participate in gambling tournaments. At the moment, there are such competitions as Drops & Winz and Slots Battle. Winners are getting hundreds and thousands of euros in these tournaments.
BitcoinCasino.io makes it possible to set off on a real gambling adventure with fun characters and awesome Tether games. It is yet another crypto casino that has passed the 5,000 games mark with a great deal of poker, dice, and video slot games. These USDT games are available on all popular platforms, including mobile devices.
Your BitcoinCasino.io experience starts with choosing a character that is going to be your gaming avatar of a sort. You may want to think it over a bit, though; each character unlocks a unique bonus ability for the player. The abilities include an unlimited reload bonus for high rollers, 10% cashback bonus, increased luck, and so on. Your USDT gaming style determines how useful each of these bonuses would be.
BitcoinCasino welcome bonuses allow you to get a 50-100% bonus up to 0.1 BTC on each of the first three deposits. Another promotion rewards you with free spins from Friday through Sunday, assuming that you have made a deposit of at least 15 USDT. Besides that, this casino has a five-tier loyalty program with free spins, cashback up to 10%, and cash prizes.
Another way to get some extra crypto or free spins is taking part in the Royal Tournament. This competition counts the real-money wagers you make in slot games during the week. Top seven players win from 0.004 BTC to 0.025 BTC, and the next eight players get from 30 to 150 free spins.
It is quite appealing to make your own account at mBit Casino because this USDT casino offers a no deposit bonus up to 50 free spins for new players. This gaming resource allows making Tether bets in several thousand casino games from Microgaming, NetEnt, Amatic, Endorphina, and other providers. All games are tested and show great performance.
Players can get a rather huge amount of money on their bonus balance thanks to the mBit welcome package. The package includes a 110% bonus up to 1 BTC on the first deposit, 50% bonus up to 2.5 BTC on the second deposit and 75% bonus up to 1.5 BTC on the third deposit. High rollers that make large deposits in Tether can request a VIP bonus with the limit is increased to 2 BTC.
The welcome bonuses are followed by numerous promotions that show up one after another at Tether casino mBit. Frequent bonus offers include free spins, extra reload bonuses, cashback, and all sorts of competitions with multi-thousand prize pools.
If you play casino games at mBit on a regular basis, you will start accumulating loyalty points that make you go up the VIP program ladder. As usual, you will be rewarded with various gifts and privileges. mBit Casino is similar to many other Tether gambling websites in this regard as it offers its loyal customers things like cashback, deposit bonuses, and free spins.
If you want to start gambling using USDT on BitStarz.com, signing up is all you need to do. The registration alone brings you 20 free spins as a no-deposit bonus. But if you want more, you can also make use of a special offer and get twice the sum of your first deposit on your bonus balance, as well as 180 free spins to keep the fun going.
And it is not even the most appealing thing about this Tether casino. BitStarz provides everything you need to pass the time in an exciting way. And if you ever have troubles with casino games or payments, you can rely on their professional customer support representatives.
If casino bonuses are your thing, you will not be disappointed. Crypto casino BitStarz is one of those websites that allocate enough time and resources to organize great promotions. You will often see announcements of new adventures and lotteries where you can win not just free spins and cashback, but electric cars and paid trips. Or something along those lines.
Besides that, this USDT casino makes it possible to compete with other players for prize pools ranging from hundreds to thousands of euros and free spins by taking part in one of several tournaments. The tournaments are intended for two categories of players: two of them count wagers in slot games while the third one is for those who like to play table games using Tether.
BitcoinCasino.us is a great example of that old saying about books and covers. Its somewhat outdated website design hides a great Tether casino with unique features and a fantastic game collection. The casino ensures fast payouts and anonymity, featuring provably fair casino games as well.
Your first three deposits can bring you up to 5 BTC as bonus money. You can get bonuses with your subsequent deposits as well as there are daily 30-50% reload bonuses. Besides, there are bonus free spins on Fridays for BItcoinCasino.us users. If the total amount of your deposits made from Monday through Thursday is 0.008 BTC or more, you will get from 10 to 75 free spins.
Those who like gambling competitions can participate in a tournament. Top ten players get a share of the 0.1 BTC prize pool on a weekly basis.
Another great thing about BitcoinCasino.us is that you get some of its loyalty rewards from the very beginning. Every player can take advantage of a 4% cashback bonus even with zero loyalty points. As you rack up more points, this bonus can be increased up to 10%. The cashback money are credited on Mondays according to the previous week’s wagers.
Tether is a platform that issues USDT / EURT / CNHT tokens according to the amount of dollars, euros, and yuans it has in reserve. This process involves using the Bitcoin blockchain and a consensus protocol called Omni. The latter handles the «creation» and «elimination» of cryptocurrency tokens while metadata are stored on the Bitcoin blockchain.
The processing of fiat deposits and token issuance lies with a company called Tether Limited. This company is also responsible for the security of USD (and all other) reserves, public reports, collaboration with exchanges and enterprises, and so on.
According to the white paper, the USDT lifecycle should be as follows:
1. Some amount of fiat currency is transferred to Tether Limited
2. Tether Limited issues the equivalent amount of cryptocurrency tokens
3. Users send tokens to each other inside the network
4. A holder of tokens decides to redeem them back into fiat currency
5. The equivalent amount of fiat currency is sent to the holder while their tokens are considered as redeemed and thus destroyed
The USDT-USD ratio is claimed to be one-to-one, although it might not always be the case in reality. That said, 1 USDT pretty much always equals to $1 on crypto exchanges.
For the time being, the platform can convert three national currencies into Tether tokens:
• American dollar (USD)
• Euro (EUR)
• Offshore Chinese yuan (CNH)
Depending on the reserve currency, the crypto tokens are going to be called USDT, EURT, or CNHT. However, «USDT» is very often used as a synonym for «Tether».
The popularity of USDT in crypto casinos has not just been all about spontaneous interest towards new altcoins. Using the tokens as a payment method has provided real benefits for both casinos and their users. Below you will find some of these benefits.
Cryptocurrencies like BTC and ETH are quite widespread in the online gambling industry. However, with all their benefits, they do have one drawback, and it is price volatility. If you top up your balance with a $100 equivalent, there is a chance that the price will slump and the same amount of coins would be worth $70 tomorrow. Fair enough, the price might just as well soar. But making money on cryptocurrency price movements is the lot of traders while gamblers often want to put their money at stake in online casino games only.
Tether will be a great option for all gambling buffs who are not too thrilled with (sometimes) crazy fluctuations of cryptocurrency prices. With tokens being pegged against US dollar, your casino winnings will not lose value due to a sudden storm on exchange markets.
A reasonable question may rise: why would you even want to gamble with USDT if you have dollars and other fiat currencies? There are many reasons, one of them being that Tether allows betting with very small amounts of money. Making a 5 USDT deposit, such gamblers will be able to bet not only with 1/100th, but also with 1/1,000th, 1/10,000th, and even smaller fractions of one dollar.
Another gambling advantage of Tether lies in the fact that people do not need to convert amounts of tokens into those of traditional money in their heads. It may be a trifle, but it really matters to some gamblers. This way, it is much easier to control your balance and monitor one’s betting history.
It gets much harder with BTC and other pricey cryptos. When you have 0.01 BTC on your account with each bet biting off, say, 0.0001 BTC, it may look like something not that important.
It is a whole other thing when each spin of the reels costs you $1 and your brain understands that your balance has just been reduced by $1. In that case, it is not so easy to go on a reckless betting spree and forget about bankroll control.
The same applies to winnings. Of course, there is that element of surprise when you are not comprehending exactly how much you have just won, and there is something to it. But then again, many gamblers prefer to see how much money they have won right on the spot.
And let us not forget all those «traditional» benefits of cryptocurrency gambling. The cost of money transfers is very low with Tether while the transactions are very fast. Like many others, this coin also offers an increased level of privacy.
To sum up, these are the main advantages of Tether gambling:
1. Easily understood amounts
2. Stable rate: 1 USDT = $1 (almost always)
3. Close to zero transaction cost
4. Higher transaction limits
5. Faster payouts
6. Relative anonymity
If an online casino has an inbuilt exchange, you will be able to lock in your winnings with help of Tether. If not, you can do the same using a third-party exchange.
The creators of Tether adamantly asserted that each token would always represent a unit of the fiat currency in reserve. However, a series of investigations conducted by US regulators unveiled some controversial facts. In 2019, the backing included not only funds but also loans to affiliate companies. It was followed by accusations of lying — it turned out that the stablecoin had not been fully backed by USD at all times.
That aside, some crypto ideology adherents accuse Tether of being controlled by a central body and, as the result, lacking several key features that are attributed to «classic» cryptocurrencies like Bitcoin.
There are ways to get some amount of USDT for free. Here are several faucets that allow you to gamble using Tether with no deposits:
• Free Tether
These websites offer a straightforward way to earn some Tether tokens if you have plenty of time or solid knowledge of scripting languages.
You can use almost any popular exchange to buy USDT, such as these:
Exchanges work with both credit and debit cards, as well as bank transfers. After you exchange money for Tether tokens, you will be able to send them to your online casino or sportsbook account.