Why there are no Stable coin gambling sites? - page 2.

swogerino

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Quote from: Getmon on May 15, 2020, 08:40:15 AM

Quote from: Sadlife on May 15, 2020, 08:28:15 AM

It will be probably a bad idea if gambling sites uses Stablecoin because Stablecoins are being considered to be banned globally by regulators and leaders in G20.
So this might end the USD backed USDT project and gamblers prefer Cryptocurrencies so i dont think its a big deal as long as you can bet and transfer it with no third party tracking you.

Are the stablecoins really banned by G20 all over the world?

There are so many betting and gambling sites that accept stable coins. There are also others that do not accept them. But if you are really looking for these sites accepting stable coins, you have a lot of options. MintDice, BitCasino, SportsBet, 1xBit, DuckDice, etc are accepting stable coins.

I don’t see a real advantage of using StableCoins over Bitcoin and other cryptocurrencies except maybe less volatility and cheaper transaction fees but that does not really stop a crypto gambler from not playing with crypto.While many of the casinos now accept these coins I think that the casino themselves are more looking forward to cryptos where they make bigger profit.I have seen very few posts like this here which makes me presume that not many gamblers are interested in these coins.For those interested there are options.

Assface16678

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There are a lot of gambling websites that support only the currency in their country because some of them do not have an authorization to make run with the use of the cryptocurrency and fiat currency still it depends on them if they are trying to adopt this kind of transaction or payment transactions. If they are trying to adopt the stable coins it is better if they will use the USD or the euro only because it is just the same there is no too much difference in the market movement. Still, I'm looking forward to it that they will adopt this kind of transactions but still they need another payment for this kind of payment.

Quote from: imstillthebest on May 15, 2020, 01:47:07 AM

Quote from: Renampun on May 14, 2020, 07:09:42 PM

Quote from: Quidat on May 14, 2020, 05:56:03 PM

Quote from: Saint-loup on May 14, 2020, 05:47:27 PM

Quote from: BITCOIN4X on May 14, 2020, 12:17:55 PM

If you are worried about costs, I think LTC is altcoin which has a pretty low fee.

Doge is even faster than LTC with lower fees! And is almost a stablecoin since several months (it goes up when btc goes down and goes down when btc goes up)

EOS,XRP,TRX is also a good alternative when we do talk or being concern about fees.About on the topic why theres no
stable coin in gambling sites, actually there's a few already. Regulation aspect is the definitely the closest reason
why they havent included this one.

I don't think the answer is regulation...
I don't think it's hard for a gambling site to provide a stable coin option, but why average gambling sites did not want to, the reason is that it is less profitable and comfort factor. average online crypto gambling players are comfortable with BTC, DOGE, ETH and LTC options.

profitable ? we arent investing on here but we are gambling and the profit depends on your gameplay . your profit when you win and loose when you loose . stable coins are infact less risky because volatillity wont affect your play if ever you like to store coins for play inside a gambling site . there are sites that i already saw have a stable coin but most havent this yet so im convince that the reason is regulation since stable coins are centralized and are related to banks or fiats

In terms of getting volatile the market crypto and fiat currency are more making a lot of movements unlike the stable coins which it depends on the market to make more profit or downward in the market.

Getmon

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Quote from: Sadlife on May 15, 2020, 08:28:15 AM

It will be probably a bad idea if gambling sites uses Stablecoin because Stablecoins are being considered to be banned globally by regulators and leaders in G20.
So this might end the USD backed USDT project and gamblers prefer Cryptocurrencies so i dont think its a big deal as long as you can bet and transfer it with no third party tracking you.

Are the stablecoins really banned by G20 all over the world?

There are so many betting and gambling sites that accept stable coins. There are also others that do not accept them. But if you are really looking for these sites accepting stable coins, you have a lot of options. MintDice, BitCasino, SportsBet, 1xBit, DuckDice, etc are accepting stable coins.

Sadlife

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It will be probably a bad idea if gambling sites uses Stablecoin because Stablecoins are being considered to be banned globally by regulators and leaders in G20.
So this might end the USD backed USDT project and gamblers prefer Cryptocurrencies so i dont think its a big deal as long as you can bet and transfer it with no third party tracking you.

imstillthebest

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Quote from: Renampun on May 14, 2020, 07:09:42 PM

Quote from: Quidat on May 14, 2020, 05:56:03 PM

Quote from: Saint-loup on May 14, 2020, 05:47:27 PM

Quote from: BITCOIN4X on May 14, 2020, 12:17:55 PM

If you are worried about costs, I think LTC is altcoin which has a pretty low fee.

Doge is even faster than LTC with lower fees! And is almost a stablecoin since several months (it goes up when btc goes down and goes down when btc goes up)

EOS,XRP,TRX is also a good alternative when we do talk or being concern about fees.About on the topic why theres no
stable coin in gambling sites, actually there's a few already. Regulation aspect is the definitely the closest reason
why they havent included this one.

I don't think the answer is regulation...
I don't think it's hard for a gambling site to provide a stable coin option, but why average gambling sites did not want to, the reason is that it is less profitable and comfort factor. average online crypto gambling players are comfortable with BTC, DOGE, ETH and LTC options.

profitable ? we arent investing on here but we are gambling and the profit depends on your gameplay . your profit when you win and loose when you loose . stable coins are infact less risky because volatillity wont affect your play if ever you like to store coins for play inside a gambling site . there are sites that i already saw have a stable coin but most havent this yet so im convince that the reason is regulation since stable coins are centralized and are related to banks or fiats

Renampun

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Quote from: Quidat on May 14, 2020, 05:56:03 PM

Quote from: Saint-loup on May 14, 2020, 05:47:27 PM

Quote from: BITCOIN4X on May 14, 2020, 12:17:55 PM

If you are worried about costs, I think LTC is altcoin which has a pretty low fee.

Doge is even faster than LTC with lower fees! And is almost a stablecoin since several months (it goes up when btc goes down and goes down when btc goes up)

EOS,XRP,TRX is also a good alternative when we do talk or being concern about fees.About on the topic why theres no
stable coin in gambling sites, actually there's a few already. Regulation aspect is the definitely the closest reason
why they havent included this one.

I don't think the answer is regulation...
I don't think it's hard for a gambling site to provide a stable coin option, but why average gambling sites did not want to, the reason is that it is less profitable and comfort factor. average online crypto gambling players are comfortable with BTC, DOGE, ETH and LTC options.

theroyalgambler

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I believe some beginners in the crypto gambling are still afraid of this "new thing", I mean they want to rely on something that they feel or think is more secure or less volatile than king Bitcoin.
So, fear plays a good role while someone would look for crypto casinos with licences or that could use stablecoins

Quidat

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Quote from: Saint-loup on May 14, 2020, 05:47:27 PM

Quote from: BITCOIN4X on May 14, 2020, 12:17:55 PM

If you are worried about costs, I think LTC is altcoin which has a pretty low fee.

Doge is even faster than LTC with lower fees! And is almost a stablecoin since several months (it goes up when btc goes down and goes down when btc goes up)

EOS,XRP,TRX is also a good alternative when we do talk or being concern about fees.About on the topic why theres no
stable coin in gambling sites, actually there's a few already. Regulation aspect is the definitely the closest reason
why they havent included this one.

Saint-loup

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Quote from: BITCOIN4X on May 14, 2020, 12:17:55 PM

If you are worried about costs, I think LTC is altcoin which has a pretty low fee.

Doge is even faster than LTC with lower fees! And is almost a stablecoin since several months (it goes up when btc goes down and goes down when btc goes up)

DarkDays

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I've also wondered why there are so few stablecoin supporting sites, literally only around a quarter of crypto gambling sites actually support stablecoins—even decentralized ones like DAI.

I'm thinking that it's to do with regulations.

After all, most crypto casinos are not licensed to offer fiat gambling services. Since some stablecoins are a proxy for fiat, you could imagine that casinos that support stablecoins like Tether or TrueUSD might also fall under the scope of the financial conduct authority (FCA) or other regulatory bodies that handle money transmission.

That said, I really wish they'd find a workaround, as I hate risking volatility to play with BTC.

iv4n

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I don't wish to sound like I'm advertising tron gambling (in last couple weeks I made few posts where I mentioned tron), but couple prominent tron casinos have usdt, and you can gamble with their stable coin on these two places I know, probably there're several more, quick search about tron gambling sites will lead you to the right place. Except tron casinos, tether is accepted at bitstarz and mbit casino, at least they had it, I didn't visit or played on this two sites for a while (more than a year). For other stable coins I don't know, but you can search more about it on google and you will find a casino you need!

MFahad

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Quote from: Tipstar on May 07, 2020, 12:23:29 PM

Wouldn't it be much easier and attractive if there were gambling sites that dealt with stablecoins? Stablecoins could be easily exchanged with both fiat and crypto and are generally faster and cheaper for transaction.
I always dream about bustabit and crypto.games accepting stable coins like DAI and USDT. What makes them not look at this potential?

If you need to gamble with stable coins then i think you should visit physical casino and there you can gamble with USD. Although it will not be the coin (USDT) but it will be the actual USD and it is stable too. I never like the tether coin.

BITCOIN4X

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I think its the same, cryptocurrency based gambling games are easy because we can exchange them anywhere and most of these cryptocurrency gambling sites only accept famous cryptocurrency. So it is no different from stable coins, but if this is because you want to maintain your balance, the choice is to play on sites that accept stable coins and not have to be weird just because the site you are playing on does not accept stable coins.

If you are worried about costs, I think LTC is altcoin which has a pretty low fee.

MCobian

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I also haven't found gambling sites that accept stablecoins, but some members of this forum have said that there are some
gambling sites that accept stablecoins. And that makes me understand why rarely people play gambling using stablecoins,
the price may be stable, so it's hard to make big profits. So I avoid playing gambling with stablecoins.

panganib999

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Quote from: bitbollo on May 07, 2020, 12:42:10 PM

I am not an expert on this field, but probably because most of casinos can't operate with fiat due legislation and they are "forced" to use crypto currency. Legally speaking Stable coins have a TOS (Terms of Service) and probably gambling isn't an usage that they don't allow.

So that maybe the main reason why commonly gambling sited just uses cryptocurrencies instead of stable coins. After all, the OP have a good point that why there is no gambling sites that uses stable coins for playing. This information you have said brings my mind into enlightenment. Well, I have already been playing into gambling sites using cryptocurrencies even before and the question have also bumped into my mind, then at least for now I have already know that there are also certain legalities that are needed to be considered. Although stable coins would be a lot more easier to be used, but the request for it to be done will just undergo certain complexities so we just need to stick on using cryptocurrencies since we have already been using it for a little while now.

Finestream

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Quote from: crwth on May 09, 2020, 08:33:54 AM

I don't think it has something to do with the legality of the stable coins. Isn't it the same if it's transferred like a cryptocurrency and acts like a cryptocurrency makes it viable to cryptocurrency gambling sites? It's not because sites cannot use stable coins, it's probably because they prefer cryptocurrencies instead.

Maybe you can create your own site with that.

Promoting cryptocurrency in their site is good for crypto adoption, their crypto business would not be success if without crypto so they are just returning the favor I guess, bitcoin is not that fast but still it's what majority of people prefer to use, that is because of the support and I can also think that a gambling sites being a business operator, they are also an investors at the same time.

crwth

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I don't think it has something to do with the legality of the stable coins. Isn't it the same if it's transferred like a cryptocurrency and acts like a cryptocurrency makes it viable to cryptocurrency gambling sites? It's not because sites cannot use stable coins, it's probably because they prefer cryptocurrencies instead.

Maybe you can create your own site with that.

LeanorDeeDee

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Yeah, I would like to try some out too. I like gambling a lot, and crypto gambling is something it need so much

STT

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I prefer to keep a seperate allocation of gambling funds in crypto, I think it leads to better discipline. With mainstream gambling there is always the temptation to keep going back to your bank for a little bit more and turn your luck around by continuing. Actually the best attitude is to have a set budget every day and walk away when its expended on the days you are not lucky and use it all up, having the balance in crypto makes that more likely as there is a process of conversion.
Stable coins have their place but I dont want to over allocate funds under the premise its safer in a link to FIAT, theres inflation and losses in FIAT anyhow. I just doubled all my BTC value in the last month or so also Grin

verita1

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Tether (USDT) is the largest stablecoin of preference for users and with the highest circulation. As some have mentioned there are already Online Casinos that are accepting stablecoins.
Here is a good review of Top Rated USDT Casinos.

https://thebitcoinstrip.com/tether-casinos/

Topic: Why there are no Stable coin gambling sites? - page 2. (Read 653 times)