Topic: Why there are no Stable coin gambling sites? (Read 682 times)

Quote from: Saint-loup on May 14, 2020, 04:47:27 PM

Quote from: South Park on May 25, 2020, 04:54:42 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

Maybe he particularly means about not profitable in gambling house side because if they do tend out to accept stable coins and able to accumulate in to their stash then they do know that it do had less volatility which means they would earn less in price swings but somewhat this one is stable and similar to fiat so its just the same
if we do talk about profit on volatility- It wont really be that different when it comes to accepting fiat.Therefore, regulation matter would be suited out reason why
only a few do give out this kind of option to masses or to gambling industry.

There were few that do accept stable coins but im sure that most players will always choose up crypto coins since they do know that if they do able to accumulate in likes of BTC or other top alts then they have that chance on earning profit in case they able to stash out some winnings if not then that would be and edge by the house itself.

KTChampions

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Another reason is that while stable coins are really popular among traders because it allows them to maintain their capital once they had a profitable trade, stable coins are not really that popular when it comes to actually making transactions with them, by far the most popular coin is bitcoin which is why it is universally accepted by almost every cryptocurrency casino, and since casinos are on the business of making money if there were a bunch of gamblers that wanted to use stable coins I'm sure they will find a way to do accept them, the fact that is not the case indicates a lack of demand.

Stable coins very quickly gain popularity in all areas and I am sure that in gambling they will also dominate after some time. If you look at the trend, then it is obvious - gradually they appear in all casinos. For a player who wants to win dollars, they have advantages similar to those for which traders value them. Therefore, I think that gradually most gamblers will use stable coins.

South Park

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Quote from: Getmon on May 15, 2020, 07:40:15 AM

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.

Another reason is that while stable coins are really popular among traders because it allows them to maintain their capital once they had a profitable trade, stable coins are not really that popular when it comes to actually making transactions with them, by far the most popular coin is bitcoin which is why it is universally accepted by almost every cryptocurrency casino, and since casinos are on the business of making money if there were a bunch of gamblers that wanted to use stable coins I'm sure they will find a way to do accept them, the fact that is not the case indicates a lack of demand.

harizen

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I just want to add for OP's reference that Cloudbet added USDT on their deposit option. Not promoting the site but since OP's concern is about stable coin deposits, just giving out some information.

https://www.cloudbet.com/en/player/account

(Note: The USDT deposit option is not present on their legacy website)

mindrust

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Quote from: swogerino on May 15, 2020, 08:01:35 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.

Not yet but they are working on it.

I recently read this article:
https://cryptobriefing.com/central-banks-recommended-ban-stablecoins/

As I said before, these stable coins are way too similar to the real thing and It is in question whether they actually have the assets to back them or not. If they don't have those assets which makes it a scam, a huge one.

arallmuus

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I don’t see a real advantage of using StableCoins over Bitcoin and other cryptocurrencies except maybe less volatility and cheaper transaction fees

If someone intended to gamble with crypto then all he has to do is to forget about its exchange rate for a while and just gamble. If you could turn your 1 btc into 1.1 btc, it means you win and thats all.

No matter what the exchange rate is, it doesnt matter at all because you managed to get higher balance from what you deposited into the site so it is a win for you. Regarding the transaction fees, I dont see how a mere $3 usd could be a problem for gambler

You will spend around $3 to deposit into the site and probably around that number as well to withdraw from the site ( depending on which site you use because some site pay for your transaction fee ). If you are "gambling" and thinks that a mere $7-$10 fee is huge than you probably dont need to gamble anymore

The transaction fees data was taken from this site https://ycharts.com/indicators/bitcoin_average_transaction_fee

earnadoge

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A bunch have usdt, but some don't look as legit as others. I guess if your money is locked in usdt for market purposes, and you really wanna gamble on non usdt site, can just convert and play and convert again. If using lean exchange and coin that is cheap to send, it works fine. Litecoin ether doge, generally cheap to send.

Getmon

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Quote from: swogerino on May 15, 2020, 08:01:35 AM

Quote from: Getmon on May 15, 2020, 07:40:15 AM

Quote from: Getmon on May 15, 2020, 07:40:15 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.

I don't see a real advantage either, that is why I don't, or even haven't, used stable coins for gambling. But some are probably looking at the fees as well as the possibility that their wasted BTC, TRX, ETH, LTC, DOGE, etc would grow double or even higher in value over time. So their accumulated losses would become a treasure in the future.

Shasha80

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Gambling with stablecoins may be less attractive to gamblers. Therefore few gambling sites that provide stablecoins options.
And most people are used to gambling with bitcoin, I also feel comfortable when gambling with bitcoin. And volatile bitcoin
make the profit obtained can be greater too.Right now stablecoins are less popular for gambling use. And only a small number of
gambling sites make stablecoins the choice for gambling.

swogerino

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Quote from: imstillthebest on May 15, 2020, 12:47:07 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: Renampun on May 14, 2020, 06:09:42 PM

Quote from: Saint-loup on May 14, 2020, 04:47:27 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: Renampun on May 14, 2020, 06:09:42 PM

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: Saint-loup on May 14, 2020, 04:47:27 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: Saint-loup on May 14, 2020, 04:47:27 PM

Quote from: Saint-loup on May 14, 2020, 04:47:27 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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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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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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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: crwth on May 09, 2020, 07:33:54 AM

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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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/

mersal

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As people said crypto gambling site needs fiat license as well to operate a crypto gambling sites which accepts stable coins and not much people are interested in playing on cryptos sites with stable coins so its not worth to spend more money just to attract few users. Moreover people can directly play on fiat sites which is less expensive compared to convert theit fiat into stable coins in an exchange then send and receive to different places to get the same gambling experience.

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Quote from: mindrust on May 08, 2020, 12:49:49 PM

Quote from: Naida_BR on May 08, 2020, 01:18:07 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?

It is probably because it is dangerous.

USDT is too similar to USD and the authorities may think that the casino is mostly dealing with FIAT (USDT) instead of real crypto. (btc, ltc etc...) IRS, FBI, CIA all these track the USD movement very hard. They seem to not give 2 shits about crypto except bitcoin though.

You are certainly right, so a good way to avoid this would be to accept stablecoins based on other things than USD or any money. Stablecoins backed by gold for example, like PaxG or Tether Gold could be relevant for that.

AakZaki

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Of course, a gambling platform has a consideration when using stablecoin, because in my opinion, it will be more difficult to make the smallest unit for betting. unlike coins in general like BTC became mBTC or uBTC like poker gambling I have ever played.

then what is the smallest unit if you use stablecoin? of course, it makes it a little more complicated.

Becky666

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Though many won't use the said stable coins because of some restrictions place on them, we also understand that, the government has always raised some regulations whenever there's as stable coins be use or intended to be use either by casinos or exchanges. In totality, the government regulations make many of these sites not.always interested in these coins, the very few using them on their platforms can tell better with their experiences.

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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?

What is the reason to gamble with stable coins?
Bitcoin is the king and the most attractive cryptocurrency out there so casinos would be more interested in getting it instead of stable coins. Apart from that, if they had only stablecoins integrated there will be no differentiation with ordinary casinos.

Gambling with stable coins basically means that you are playing with a coin that is not volatile. The only reason I see why they want to play with stable coins is to avoid the volatility of other cryptocurrencies like bitcoin. Crypto casino is different from an ordinary casino on different aspects. And people want to bring the asset stabilization on crypto casinos by playing on stable coins.

Normally ordinary casino does have rules like KYC and people doesn't want that. People want to bring combine the advantages of crypto casinos and the stable asset that you can use on an ordinary casino.

Naida_BR

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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?

What is the reason to gamble with stable coins?
Bitcoin is the king and the most attractive cryptocurrency out there so casinos would be more interested in getting it instead of stable coins. Apart from that, if they had only stablecoins integrated there will be no differentiation with ordinary casinos.

mindrust

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Quote from: Lakai01 on May 07, 2020, 11:48:34 AM

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?

It is probably because it is dangerous.

USDT is too similar to USD and the authorities may think that the casino is mostly dealing with FIAT (USDT) instead of real crypto. (btc, ltc etc...) IRS, FBI, CIA all these track the USD movement very hard. They seem to not give 2 shits about crypto except bitcoin though.

rhomelmabini

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Playbetr allows users to deposit stable coins:

Yeah, I search for it and they really do.

Quote from: Nalbo on May 08, 2020, 09:57:51 AM

Stablecoins could be easily exchanged with both fiat and crypto and are generally faster and cheaper for transaction.

Not only that, since you just really want to gamble and not to trade or hodl it on a gambling site (not recommended though) better if it will be a stable coins since you'll not be in wary if your coins is not in the same value since dips may not affect it at all.

DoublerHunter

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If sportsbet.io are accepting stable coin, I don't think regulations would be any issue. They are a good gambling platform both for sports and casino games and they know properly what legal problems they may face. Just like almost every other casino, they are curacao registered.
I maybe wrong but with the examples, I'd dismiss the proposition of regulation not letting the adoptable of stablecoins.

^ Definitely right, there are some gambling sites that accept stable coins though it may not be the site you prefer. However, that is due to the trust issue. Gambling sites registered for the currency that they think has a higher demand but if the demand on stable coins to be accepted with your preferred sites and rest assured they will work on the license for stable coins on their platforms. Probably someday if the stable coin will become like other cryptocurrencies such as bitcoin then in no time it will be accepted as well in most gambling sites. Nevertheless, there are also some reasons gamblers want volatility coins because while holding of gambling platform at the same time they are investing.

Nalbo

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If sportsbet.io are accepting stable coin, I don't think regulations would be any issue. They are a good gambling platform both for sports and casino games and they know properly what legal problems they may face. Just like almost every other casino, they are curacao registered.
I maybe wrong but with the examples, I'd dismiss the proposition of regulation not letting the adoptable of stablecoins.

bitmover

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Quote from: ralle14 on May 07, 2020, 05:55:46 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.

This was the first thing I tought as well.

However, usdt and others are not really fiat, si there must be some other reason...I would certainly prefer to gamble with btc, just because holding btc is a gamble by itself

leea-1334

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Regulation is one big problem maybe I agree even if I did not know this is the case, but with over 100 stablecoins out there,,, is it really a problem if people wanted to use them? Anyway I think the real problem is convincing the user and the casino to want to open new wallets to manage. Administrative headache:)

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In addition to those gambling sites, Sportsbet and Bitcasino just started accepting Tether and they even have a promotion to encourage their players. On other sites i've tried they have their own stable coin as a way to maybe avoid those legal issues.

Quote from: seleme on May 07, 2020, 04:56:20 PM

Sudden market price movement can ruin your day because of the 30% loss in fiat value during the hour.

On the other hand that risk can also make their day as the prices go up just like what we've been experiencing in the last couple of days with Bitcoin.

So the question of the OP has already answered by some of the users here. There are really gambling sites that are using stable coins. And maybe because of some certain laws, the reason why it is not common to online casinos. They prefer to distance themselves from using stable coins to avoid problems along the way.

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In addition to those gambling sites, Sportsbet and Bitcasino just started accepting Tether and they even have a promotion to encourage their players. On other sites i've tried they have their own stable coin as a way to maybe avoid those legal issues.

Quote from: seleme on May 07, 2020, 04:56:20 PM

Sudden market price movement can ruin your day because of the 30% loss in fiat value during the hour.

On the other hand that risk can also make their day as the prices go up just like what we've been experiencing in the last couple of days with Bitcoin.

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Quote from: Shimmiry on May 07, 2020, 03:57:05 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?

It's a good idea, but in many countries stablecoins aren't considered as cryptos by the law and/or the authorities. So it could create some legal problems...

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AFAIK, Playbetr and Duckdice accept stablecoins, there are surely other stablecoins accepted crypto gambling platforms except for US citizens. The idea is to gamble with fiat equivalent coins but there are advantages of flexible crypto market rates too. Sudden market price movement can ruin your day because of the 30% loss in fiat value during the hour.

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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?

Casino's and online gambling are the best way to evade a government's greed among the businesses by giving them a mandatory tax payment depending on how much they earn. Hence, making or having it adapt a stable coin (e.g. USDT - which is dependent on the price of USD) would somehow require them to follow certain laws applied on their government.

Also, most would have a tough time trusting a gambling site that offers and accepts stable coins due to unreliability reason. Cryptos are better be fluctuating and volatile. Therefore, to those whom wanted such stability, better be playing on real life casinos (after the quarantine ofc)

This is actually on point, if people would consider on using stablecoins to gamble then it would really be just the same when you are playing fiat.
Reasons on why most gambling sites doesnt have this option because its indeed on that regulation matter but it doesnt really a big thing though
because most crypto gamblers will surely choose up crypto most of the time.

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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?

Casino's and online gambling are the best way to evade a government's greed among the businesses by giving them a mandatory tax payment depending on how much they earn. Hence, making or having it adapt a stable coin (e.g. USDT - which is dependent on the price of USD) would somehow require them to follow certain laws applied on their government.

Also, most would have a tough time trusting a gambling site that offers and accepts stable coins due to unreliability reason. Cryptos are better be fluctuating and volatile. Therefore, to those whom wanted such stability, better be playing on real life casinos (after the quarantine ofc)

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Regulation is your answer.

Most countries do not treat stablecoins as cryptocurrencies but rather fiat, and in order for a gambling platform to acquire a license for their operations in a certain country, they would need to register for two licenses: one for cryptocurrencies and one for fiat currencies. It's a long and resource-exhausting process to acquire to license for a single platform which operators deem to be not really worth it. Though this is the case, as mentioned above by some users, there are still some gambling platforms which cater to both crypto and stablecoins players.

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Wouldn't it be much easier and attractive if there were gambling sites that dealt with stablecoins?

some people have already said that there are sites that accept Stablecoins, but I keep wondering if those sites that accept Stablecoins do not need to comply with US laws if they are going to use establecoin linked to the american dollar?

Stablecoins could be easily exchanged with both fiat and crypto and are generally faster and cheaper for transaction.

but the main question is: are the Stablecoins reliable?

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At least there are similar topics that discuss gambling sites that use:

Topic: Tether (USDT) supported gambling platform?

games accepting stable coins like DAI and USDT.

Quote from: Coinbox1 on August 14, 2019, 06:14:46 AM

Trust Dice game supports USDT too.
You can play Dice and Crash game with usdt

Also claim some free USDT from faucet.
Here is the Official thread

Gambling - Tether (USDT) accepted

Stablecoin Casinos

Quote

TOP DAI CASINOS MAY, 2020

DAI is a stablecoin issued by MakerDAO on the Ethereum blockchain. The cryptocurrency is fully backed by collateral and uses some clever market mechanics to ensure a stable price. This cryptocurrency is most sought after for gamblers due to its privacy, however it does not currently have the same liquidity as other stablecoins like USDT or USDC.

We are keeping a close eye on developments in the stablecoin space and will update this page the moment more casinos become available.

Maybe this can help you bet on gambling sites that use DAI and USDT coins, if you are a gambling addict, who dreams of gambling sites that use crypto you mean.

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Quote from: Lakai01 on May 07, 2020, 11:48:34 AM

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 dream to play with stablecoins on crypto casino websites, then luckily for you, there are a lot of options: You can play dice, crash (bustabit) and other games with USDT on Bitsler and believe me, this is one of the top casino. If you are looking for sportsbook (which I highly doubt right now but still...) then sportsbet.io <- one of the most trustwortht and popular crypto bookmaker will accept your tether.
Tether was never in my interest when it comes to gambling but I guess stake.com may accept some stablecoins because there is high demand on it from users.

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Bitbollo is right, there's a legal issue using them in a casino.

Playbetr allows users to deposit stable coins:

Other than playbetr, here are the other casinos that accept stable coins.

mbitcasino - Tether(USDT)
betchain - Tether(USDT)

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Playbetr allows users to deposit stable coins:

Quote

Playbetr makes it easy to enjoy sports betting thanks to accepting 5 stable coins. You can play using Playbetr Coin (PBR), Dai (DAI), USD Coin (USDC), Paxos Standard (PAX), and TrueUSD (TUSD).

Source

According to their blog, however, only for sports betting, not for classic games (whether this is really the case can be answered by someone with a Playbetr account).

Many gambling sites have been around much longer than stable coins, including the two sites you mentioned. I think that depends more on supply and demand. If the players want to be able to deposit Stablecoins, the casinos will also offer it. Maybe the demand for them is not that high at the moment?

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