All You Need to Know About Tether and Online Casinos | Credit: Veronica Cestari
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Key Takeaways
USDT leads stablecoins with top volume, users, and market share.
It is Fast, cheap, and private, making it ideal for global online gambling.
USDT beats USDC with wider support and easier compliance.
Tether (USDT) is the dominant stablecoin in the crypto ecosystem and has taken over the crypto gambling sector.
Its stability, liquidity, and low transaction costs have made it the preferred choice for players and casinos.
Tether’s advantages over other cryptocurrencies are clear, but its accessibility and loose compliance make it the preferred choice relative to other popular stablecoins like USDC.
Tether’s Dominance
Tether is currently the most used stablecoin, commanding nearly 60% of the market share.
USDC comes second at 30.1%, while USDe is third at 5.5%.
Regarding blockchains, Tether dominates the Tron and BNB Chains and is also used significantly in Polygon and Ethereum.
Tether’s daily volume often surpasses $75 billion, outpacing Bitcoin (BTC) and Ethereum (ETH) while completely eclipsing other stablecoins.
Its liquidity and global accessibility have made it the most favored option for online gambling and crypto casinos.
Tether and Online Casinos
Tether’s appeal in online casinos stems first and foremost from its stable value, which is pegged 1:1 to the dollar.
This immediately makes it more attractive to users than BTC or ETH, whose prices fluctuate daily.
USDT offers gamblers peace of mind that their deposits will not fluctuate mid-game, making calculating risk in their bankroll easier.
The subsequent enormous appeal is its speed and low cost. On chains like Tron (TRC-20), the most used chain for USDT, transfers are confirmed in less than a minute and cost less than $0.10.
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Finally, anonymity and the lack of Know-Your-Customer (KYC) verification are other vital reasons users chose USDT.
It allows users to deposit and withdraw funds even in restricted regions or places with limited banking infrastructure.
While the case for USDT over traditional cryptos is clear, the second-largest stablecoin, USDC, offers many of the same benefits that USDT does.
Why USDT Over USDC?
Even though USDC is a stablecoin pegged to the dollar, USDT is used far more in the crypto casino industry.
There are several reasons for this:
Higher Liquidity: USDT has a nearly fourfold higher circulating supply ($120 billion to $30 billion), meaning deeper liquidity exists across casinos.
Blockchains: Tether is mainly used in the Tron and BNB chains, which offer very low fees and high speed. USDC is unavailable on Tron and only in the BNB Chain as a bridged token.
Lower Compliance Requirements: USDT platforms usually have more lenient KYC and geographic restrictions. On the other hand, USDC is aligned with the U.S. regulatory framework.
Previous History: USDT has been used in online casinos for a much longer, gaining a reputation as a de facto stablecoin with which players are familiar.
While USDC has become preferable in traditional finance because it is U.S.-regulated and considered more transparent, these traits make it less attractive for crypto casinos.
Tether Takes the Crown
Tether is dominating crypto casinos behind its speed, stability, and ease of use.
Its looser regulation and broader adoption make it more popular than its main stablecoin rival, USDC.
As crypto casinos and gambling become more mainstream, Tether is set to maintain its role as the de facto casino stablecoin.
Disclaimer:
The views, thoughts, and opinions expressed in the article belong solely to the author, and not necessarily to CCN, its management, employees, or affiliates. This content is for informational purposes only and should not be considered professional advice.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
