Best stablecoin (Tether) casinos for USA citizens?

Discussion in 'Bitcoin Casinos' started by Humble Servant, Mar 11, 2023.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    The world of online gambling has undergone somewhat of a revolution over the past 5 years. A few years ago it was virtually impossible for citizens of the United States of America and many other countries around the world to deposit at an online casino via bank transfer or Visa / Mastercard / American Express because governments instructed financial institutions to block these types of transactions. Then along came cryptocurrencies and you could now gamble at real-money online casinos because they were decentralized and governments could not stop you from playing slots, blackjack or poker for dollars or euros.

    Now another revolution is happening because of the emergence of stablecoins like Tether (USDT), Binance USD (BUSD) and USD Coin (USDC). Stablecoins have become popular amongst casino gamblers for the following reasons...

    1. Price Stability: Stablecoins are pegged to a stable asset such as the United States dollar or Euro, which makes them less susceptible to price fluctuations compared to other cryptocurrencies. This makes them more attractive to people who want to gamble at online casinos because their $1 dollar of Tether will always be worth $1. On the other hand, $1 worth of BTC could be worth $2 or $0.50 tomorrow.

    2. Fast and Cheap Gambling Transactions: Stablecoins are built on blockchain technology, which enables fast and cheap transactions. This makes them useful for sending and receiving payments to your favourite real-money online casino. Why pay expensive credit card transaction fees every time you want to gamble at a roulette table?

    3. Gambling Privacy: Some stablecoins like Tether offer more privacy than traditional payment methods like Visa or ACH transfers. For example, users can send and receive funds to online casinos without revealing their identity or personal information. This is important if you live in a country where online gambling is illegal.

    4. Decentralization: Some stablecoins like DAI are decentralized, which means that they are not controlled by a central authority like a government. This can provide users with more control over their funds and reduce the risk of censorship. This prevents banks or governments from seizing your money just because you want to play some baccarat or slots at a real-money casino.
    If you live in the United States of America, the United Kingdom, the European Union or Australia, you can play for real money at these online casinos using Tether and other stablecoins.

    Bitcoin Penguin is a global online casino that welcome gamblers from any party of the world, including the United States of America. You can now deposit and withdraw at Penguin Casino using the Tether (USDT) stablecoin in addition to popular cryptocurrencies like Bitcoin, Litecoin and Bitcoin Cash. Crypto casino games available include video poker, blackjack, slots, lottery, roulette and hundreds of other games. Bitcoin Penguin is perfect for U.S. gamblers who want to avoid doing KYC.

    BetOnline is an online sportsbook and casino who have been accepting real-money gamblers from the USA for many decades. You can now bank with BetOnline using both USD Coin (USDC) and Tether (USDT) for no fees. Casino games inlude all the usual slots and table games like blackjack where you can gamble for dollars.
    Last edited: Mar 11, 2023
  2. 4TheWin

    4TheWin Member

    can somebody please explain if i can take full custody of these stablecoins? is there always a possibility that my coins will be confiscated if i don't obey the rules?
  3. Wonka

    Wonka Member

    I guess in theory they can since these stablecoins are issued by central authorities. The Tether token is issued by a company called Tether (that has links to Bitfinex), while USD Coin is issued by Circle and Coinbase. In the past, these companies have blacklisted certain coins that were stolen from exchanges in hacks but they have never confiscated people's USDT or USDC for playing poker or sports betting.

    You can't custody stablecoins in a wallet that you control, you need to keep them on an exchange so my advice would be to use an exchange with a good record for security like Kraken or Coinbase and turn on 2 Factor Authentication.
  4. Terry

    Terry Member

    what is tether backed with? do they just keep dollars in their bank account to back their token?

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