How do you give out usdt on claims and allow people to deposit usdt to eventually gamble with it? Isn't usdt basically usd itself?
Wouldn't that make your website a fiat gambling place as well? Shouldn't that have different type of legal issues with it? I mean you would have to have a license that would guarantee the safety of the money we are giving based on the nation you are in for something like usd gambling, its very rare and very difficult to achieve.
Crypto is one thing because not all countries see it as "money" just yet and any "gaming" license you have would be enough, like the slot games on mobile where you play to have fun with fake money but than you end up spending real money to get more fake money so you are basically still gambling with real money in the end, that works for crypto however as soon as you put USDT in there thing must have changed.
This is a great point. Perhaps, they overlooked the legal implications
But I agree with you that as soon as you start gambling with USDT which is a stable coin easily convertible into USD is automatically raising red flags because its not longer true crypto gambling but gambling with 'real money' as majority of the society interprets it. So it would be interesting to see the team's take on this
Tether is still considered a Crypto currency. Its basically running on the Bitcoin blockchain and just uses the Omni layer. Fiat is completely different because with Fiat you need to actually deposit funds from like a credit card or a debit card from your bank card.
The reason why more gambling sites need Tether is due to the crazy volatility of Bitcoin. Because someone can buy Bitcoin at $13800 like in June and basically now be sitting at a 33% loss, and if they just used Tether they would of still had their original cash position.
Sure its good when you buy bitcoin to gamble, and bitcoin goes up, and you pretty much made money by doing nothing but keep in mind that there is a 50/50 chance that it can also go down and cause losses.