The creators of Tether managed to combine two financial worlds: fiat and digital. The main feature of Tether tokens is that they do not depend on the vagaries of the cryptocurrency market. Instead, they are pegged to the value of the US dollar. For the same reason, USDT began to be called a “stablecoin”, that is, a stable cryptocurrency. Below we will talk about Tether casino sites where you can play for USDT.
Best Tether casino sites (best USDT casino sites)
- Wide selection of sports betting
- Over 4000 games
- Wide selection of cryptocurrency
- A wide variety of welcome bonuses
- Over 6000 games
- Crypto (over 20) and fiat payments.
- Competitive Sportsbook Odds in different markets
- Multi-level VIP program with attractive bonuses
- BC Original games
- Instant withdrawal
- Fast processing of payments
- Wide collection of slots and games
- Offers a huge selection of bonuses
- Wide selection of sports betting
- Over 4000 games
- Over 40 cryptocurrencies accepted
- Loicalization in more than 60 languages
- Mobile app for IOS and Android
Let’s look at some of the best Tether casino sites more closely.
Bitstarz is one of the best Tether casino sites. It was founded in 2014 and since then is favorite gambling place for many players around the world. It offers competitive bonuses and accepts few popular cryptos.
Cloudbet is one of the best USDT casino sites. It was established in 2013 as one of the first Bitcoin casinos, and since then it also accepts bets on sports and many altcoins. There is a huge welcome bonus up to 5 BTC which will help you get started. High rollers are welcome since there is no limit on bets and withdrawals. You don’t need to pass verification at this casino.
A bit of statistics…
Naturally, sites with games for cryptocurrency almost immediately grabbed such an interesting payment method. It quickly gained popularity and became one of the main ways to play in crypto casinos. The main reasons are reliability and relative ease of acquisition.
Due to its “intermediary currency” function, USDT has become the most traded cryptocurrency asset. According to the latest data from Coinmarketcap.com, Tether’s daily trading volume is leading among all others with a value of more than $101 billion, which is twice as much as the corresponding figures for Bitcoin.
Several relatively recent scandals have been associated with Tether over the actual backing of tokens and the impact on the price of Bitcoin. Nevertheless, the cryptocurrency still remains in the top ten of the Coinmarketcap rating by market capitalization and is actively used as a means of payment.
What is Tether
Tether is a platform that issues USDT / EURT / CNHT tokens in accordance with the dollars, euros and yuans that are in reserve. For this, the Bitcoin blockchain and the Omni consensus protocol are used. The latter is responsible for the “creation” and “destruction” of cryptocurrency tokens, while the metadata is recorded on the Bitcoin blockchain.
The processing of fiat deposits and the issuance of tokens is the responsibility of Tether Limited. It is also responsible for the safety of dollar (and other) reserves, public reports, cooperation with exchanges and enterprises, and the like.
According to the official documentation, the life cycle of USDT tokens is as follows:
- Fiat currency is at the disposal of Tether Limited
- Tether Limited issues an equal amount of cryptocurrency tokens
- Users send tokens to each other within the network
- Another token holder decides to exchange them back for fiat
- An equivalent amount of fiat currency is issued to the token holder, while the “used” tokens are destroyed
The USDT-USD ratio is generally considered to be one-to-one, although in reality this is not always the case. Be that as it may, the exchange rate of 1 USDT on exchanges is almost always equal to $1.
At the moment, the platform allows you to convert three national currencies into Tether tokens:
- American dollar (USD)
- Euro (EUR)
- Offshore Chinese Yuan (CNH)
Depending on the currency of the reserve, Tether cryptocurrency tokens will be called USDT, EURT or CNHT. However, the abbreviation “USDT” is very often used as a synonym for “Tether”.
Advantages of Tether casino games
The popularity of USDT in online casino was not just due to the interest in new altcoins. The use of these tokens as a payment method promised very real benefits for casinos and users.
Stable exchange rate
Cryptocurrencies like BTC and ETH are already quite common in the online gambling industry. But with all their pluses, there is also a minus: this is price volatility. If you replenish your balance with the equivalent of $100, there is a chance that the rate will go down, and in a day the same amount of coins will be equal to $70.
Of course, the rate can go up. But trying to make money on cryptocurrency price fluctuations is the lot of traders. But players often want to put money on the line exclusively in the context of gambling and online casinos.
Tether will be a great solution for gamblers who are not thrilled by the (sometimes) insane fluctuations in the price of cryptocurrencies. Since the tokens are pegged to the dollar, euro or yen, the funds won in the casino will not lose their value due to bad weather on the exchanges.
Like dollars, but better?
A reasonable question may arise: why, then, play USDT at all, if there are ordinary dollars and other fiat? There are many reasons. One of them is the ability to bet on a tiny amount. Having replenished the account with 5 USDT, such gamblers can bet not only hundredths, but also thousandths, ten thousandths, and sometimes even lower fractions of one dollar.
Another advantage of Tether in gambling lies in the fact that people do not have to mentally convert the amounts of tokens into traditional money. Although a trifle, for many gamblers it really matters. This makes it much easier to control your balance and keep track of your betting history.
In the case of BTC and other “expensive” cryptocurrencies, this is much more difficult. When there is a hundredth of one bitcoin on the account, and each bet “eats”, say, 0.0001 BTC, this seems to be something completely insignificant. Another thing is when after each rotation of the reels 1 USDT is deducted and the brain realizes that the balance has just become less by a dollar. In this case, it is somewhat more difficult to break into reckless bets by stopping monitoring the state of the account. The same goes for winnings.
Like with all cryptocurrencies, there are some common advantages of Tether online casino. The cost of money transfers in Tether is very low, while the transactions themselves are made very quickly, and the privacy involved.
Online casino Tether: pros
- Understandable winning amounts
- Stable exchange rate: 1 USDT = $1 (almost always)
- Close to zero cost of transactions
- Higher transaction ceilings
- Fast payouts
- Relative anonymity
As you can see, USDT is very popular and loved by casino players arounf the world. It is not a surprise, considering all the advantages of this token, including pros of using it for gambling. When it comes to the best Tether casino sites, you can pick any gambling establishment from the rating above.