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 stability of the currency backed by the US Department of Treasury.
The key feature of Tether tokens is that they do not depend on the vagaries of cryptocurrency market. Instead, they are pegged against the rate of US dollar. That’s where the name ‘stablecoin’ comes from.
For the time being, the platform can convert three national currencies into Tether tokens:
• American dollar (USD)
• Euro (EUR)
• Japanese yen (JPY)
Some people may remember several relatively recent controversies related to the real backing of USDT and its impact on the price of Bitcoin. Nevertheless, the cryptocurrency still holds its place in the top 10 of Coinmarketcap market capitalization ranking, being actively used as a means of payment.
Naturally, crypto gambling resources almost immediately snapped at such an interesting coin.
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 resources and users.
If you have some crypto gambling experience under your belt, you have probably heard of BitStarz casino. The website has more than 2600 casino games and its own integrated BTC-EUR exchange. This crypto casino supports multiple fiat and digital currencies, including Tether.
Online casino Winz.io is a promising newcomer with awesome bonuses and the lowest wagering requirement in the industry. The resource is notable for its responsive customer support and fair amount of cryptocurrency casino games. Tether will be one of the four crypto assets accepted on the website.
You’ll remember BitcoinCasino.io as the website where you start by choosing one of the available characters, each of them having a specific bonus. The bonuses are different: 10% cashback up to 0.5 BTC, double bonus points for bets, and even increased luck in games, among others! Furthermore, there are tournaments, quests, and everything a modern gambler needs.
Crypto resource mBit Casino also has tournaments, but they call them races. Every three hours, a lucky guy gets 6 mBTC!
It would be strange if LuckyGames.io did not support Tether. It’s actually quite a challenge to find a coin that you cannot gamble with on this website. But that’s not the only cool thing about LuckyGames: it also has Lucky tokens, integrated exchange, fantastic mobile version, and many more.
- Advantages of Tether in online casino gambling
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 because of stormy weather on exchange markets.
A reasonable question may arise: why would you even want to gamble with USDT if you have dollars and other fiat money? 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 traditional money in their heads. It may be a trifle, but it really matters for 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 while each bet bites off, say, 0.0001 BTC, it looks like something really unimportant.
It’s 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’s not so easy to go on the reckless betting spree and forget about bankroll control.
The same applies to winnings. Of course, there is that element of surprise when you’re not comprehending how much you’ve just won, and there’s something to it. But then again, many gamblers prefer to see how much money they have won on the spot.
And let’s 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 cryptocoin also offers an increased level of privacy.
To sum up, there are the following 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 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.
- Tether faucets
There are ways to get some amount of USDT for free. Here are several faucets that allow you to gamble with 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.
- How to buy Tether for gambling
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.