Instability is one of the underlying risks of cryptocurrency. That’s why cryptos like Tether were created. Closely linked to the value of the US dollar, USDT combines the flexibility of decentralized trade with the reassurance of a familiar accounting unit, as described in its whitepaper. So does that make it a winner when it comes to online gambling?
Top USDT Sports Betting Sites List (December 2023)
Learn about Tether
Tether is a stablecoin. Its value is pegged directly to the US dollar at a 1-to-1 ratio. Tether, also known as USDT, joined the BitFinex exchange in January 2015. Because it is a stablecoin, it should be safe from the volatility that engulfs other cryptos. Many traders respect it as a source of steady liquidity that gets them in and out of other crypto transactions without risking unpredictable market swings.
That helps to explain how Tether rose to enjoy greater liquidity than even Bitcoin or Ethereum. It is also regularly ranked among the biggest cryptos by market capitalization.
However, there are questions about USDT’s true stability. Respected business journal Forbes cites sources from within the crypto world questioning the currency’s true capitalization and how transparent Tether is about its backing.
Why use USDT for gambling?
The beauty of crypto is that it can do anything traditional currencies do. That includes gambling. But unlike traditional currencies, the absence of an external regulator — typically a bank — means far greater flexibility for users.
In areas like gambling, where some territories impose restrictions, this can be a big advantage. Sometimes, this could be the difference between being able to bet and being blocked from online sportsbooks.
Furthermore, if you use Tether for your gambling, you continue to enjoy the security, privacy, and speed of crypto transactions when placing your bets and withdrawing your winnings.
However, it’s worth keeping in mind the big question about Tether: if it is not backed by dollars, there is no guarantee that it will always hold that 1-to-1 value.
Choosing a betting site
We like to do the hard work for you, so our list of the best available Tether sports betting sites should help you find a good place to gamble. Even so, when you’re choosing between these platforms, there are a few things to look out for.
- Reliability. Always ensure the site is licensed and regulated by a legitimate gaming authority. This protects your rights as a player. Also, check out online reviews and make sure customers are happy.
- Bonuses. Most sites will give you a sign-up bonus when you start but be sure to read the fine print. A big bonus isn’t much good if there are big restrictions when you use it. Also, check out any VIP schemes that may offer repeat free bets to regular players.
- Live betting. Does the site allow bets while the action unfolds? How quickly can you get a wager on during the game? Is there a cash-out option to lock in a win or cut your losses?
- Intuitive interface. A sports betting platform has to display a lot of information to its users. If the design isn’t good, this can be confusing to use. Check out the site layout and make sure you are comfortable with it.
After choosing a site, you’ll need to open an account. Each platform has its own sign-up process, but they are usually straightforward. Some USDT sites offer accounts with little or no personal verification, but others still ask for confirmation of a player’s identity.
Next, you’ll need to deposit some funds to place your wagers. Start by purchasing USDT tokens and transferring them to your crypto wallet. Then, you can move some of those tokens to your betting platform. Once credited, your gambling account will be ready to place bets just as you would with dollars or euros. Choose your wagers and good luck!
Is it easy to use Tether Sports Betting sites on my mobile?
Usually, yes. Most sports betting platforms have apps for Android and iOS, so you can download them onto your device and bet wherever you are.
Is USDT sports betting different from using dollars?
In practical terms, no. USDT sports betting sites work in the same way as regular ones. The only difference is that you carry out financial transactions in your preferred crypto, with all the advantages that offers.
Can I use a different stablecoin instead of Tether?
Yes. There are other stablecoins on the market. Competitors include USD Coin (USDC), Dai (DAI), and Pax Dollar (USDP). However, Tether is widely regarded as the most liquid crypto coin.
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