CloudBet now supports stablecoin USDT (Tether)

Discussion in 'Bitcoin Sports Betting' started by Humble Servant, May 27, 2020.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    Newbies to the crypto world have a hard time comprehending how the value of their bitcoin or ethereum can fluctuate so wildly against currencies like the dollar or euro. For instance, if you owed $100 worth of bitcoin at the end of 2017, that bitcoin was only worth about $35 at the end of 2018. Prices can also obviously appreciate greatly but the uncertainty puts a lot of gamblers off using cryptocurrency sportsbooks. Stablecoins, which are pegged to traditional currencies like the dollar, aim to fix this problem. One dollars worth of Tether is always worth $1 so you never need to worry about price fluctuations again.

    CloudBet have come one of the first crypto-bookies to accept deposits in Tether (USDT) in addition to traditional cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH). Since there is always a 1:1 ratio between USDT and USD, players at CloudBet will always know what they are gambling with.

  2. BeastyBoy

    BeastyBoy Member

    if you don't want to experience price fluctuations, you should just use an online bookmaker like betonline. as soon as you deposit, they convert your bitcoin to dollars and your account stays in dollars until you decide into bitcoin, litecoin or crypto currency after. i'm pretty sure that other sportsbooks like 5dimes and bovada do the same. there's no need to use a stablecoin like tether.
  3. Humble Servant

    Humble Servant Active Member Staff Member

    If you want to learn more about how to gamble with stablecoins like DAI, Tether (Tether), Binance Coin or USD Coin, check out our Stablecoin Sports Betting Guide
  4. Humble Servant

    Humble Servant Active Member Staff Member

    It is also worth mentioning that CloudBet still welcomes crypto sports bettors from Australia. Australian residents can even do in-play betting on Australian Football Leagues and rugby league games, which isn't possible with traditional bookies in Australia. We can create an account without going through KYC and they offer a great deposit bonus.

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