Dai is not as famous as other stablecoins like USDT and USDC, but with a market cap of over $7 billion, it’s hardly a minor player in the cryptocurrency world.
Are you looking to bet with Dai? Then you have come to the right place, as Gambling Crypt has some excellent options for you. Deposit with Dai and play thousands of the best casino games today. Take advantage of this token’s stability and easy-to-manage price point.
Here’s our Dai gambling guide!
Dai Casinos Top List
We have three options for Dai crypto casino gambling, but you are lucky as they are three of the best crypto casinos online. Cloudbet, Betfury and BC.Game have taken online casino to the next level and features incredible daily and weekly promotions and plenty of chances to win free stuff!
Guide to Dai Gambling
What is Dai?
DAI is an Ethereum-based stablecoin. Stablecoins are coins pegged to the US dollar to always be worth one dollar. Tether and USD Coin are other notable examples of stablecoins.
Unlike those two examples, Dai is not backed by fiat currency and other assets like bonds and US treasuries. Instead, it is collateralised with a mix of other cryptocurrencies that are deposited into smart-contract vaults every time new Dai is minted.
Dai is somewhat unique among cryptocurrencies in that it wasn’t created by any single person or a group of founders. The development of the software that powers it and the issuance of new tokens is governed by the MakerDAO and Maker Protocol.
The MakerDAO is a decentralised autonomous organisation (it essentially runs itself via a series of smart contracts). These are self-enforcing agreements written in software code and executed on the Ethereum blockchain.
This organisation is managed democratically by the holders of the Maker (MKR) governance tokens, similar to a traditional company’s stock. The MKR holders vote on crucial decisions regarding the development of MakerDAO, Maker Protocol and Dai . Their voting power is proportionate to the number of Maker tokens they own.
MakerDAO was initially founded in 2015 by Danish entrepreneur Rune Christensen. Previously, Christensen studied biochemistry and international business in Copenhagen and founded a recruitment firm.
Users can generate new Dai by depositing assets into Maker Vaults on the Maker Protocol. Users then borrow effectively borrow against the collateral they have locked into Dai. This protocol is one of the pioneers of the De-Fi (decentralised finance) world and is widely used in crypto today.
How much is a Dai?
Dai is a stablecoin designed to be worth $1. So if someone has 200 DAI, they can redeem it for $200 and vice versa.
Unless a Terra/LUNA catastrophe hits Dai, then this is the fixed price it will trade at.
Advantages of a Dai Casino
Easy coin management
One of the issues playing with big cryptos like Bitcoin and Ethereum is that it’s hard to quickly work out how much you are depositing and playing with every time. If you deposit 0.0002 Bitcoin, how easily can you know how much that is worth in fiat currency when the price fluctuates daily?
If you have 0.0005 ETH in your account on any given day, the price could rise or fall by 10%. This makes it hard to give value to each deposit and withdrawal.
At Dai Casinos, it’s easy. 100 DAI is $100 no matter what happens to the crypto market. Playing with stablecoins can stop you from betting recklessly, as you will never forget the value of your deposit. It helps with responsible gaming.
Three great Dai Casino choices
Until recently, Dai was not found at many casinos. However, now that three of the biggest names in casino game play – Cloudbet, Betfury and Dai – offer it as a payment option, we expect more casinos to get in on the action.
Just across these three casinos, visitors can play and bet for real money on thousands of slot machine games, jackpot slots, live casino games, crypto Provably Fair games like Plinko, Crash and Dice. Sic Bo, baccarat (dai Bacc too).
Enjoy a huge table game offering with Sic Bo, baccarat (new game Dai bacc too) roulette, blackjack, video poker, and much more. Just like being on a Las Vegas casino floor.
Cloudbet will even give you up to 50,000 DAI as a welcome bonus/ deposit bonus and offers the chance to bet on sports too! You can also claim a different type of reward every week.
Read a casino review of our recommendations and then play a hand or have a spin by joining via the button at the top of the page.
Low withdrawal fees
Withdrawals from Betfury using Dai via the Polygon network to your crypto wallet are as low as 0.05 Dai, not bad if you are withdrawing thousands!
It’s decentralised
Many don’t like stablecoins like Tether as they are highly centralised. Dai is the largest decentralised stablecoin and fits in with the philosophy of freedom from power. No central organisation is holding sway over the coins, and everything is very transparent, unlike Tether, which refuses to audit its accounts publicly.
But note, any responsible gaming operator must ask every player for valid ID at times, so it’s not anonymous gambling.
Disadvantages of Dai Casinos
Disadvantages of a Dai Casino
Few options
While we think anyone looking for Dai sites will be happy with the choices we have at Gambling Crypt, it’s still only three casinos, and we know you love a wider selection of online casino games and live game sites to bet at.
At present, it’s just not as popular as other stablecoins. Check out our Tether casinos, Bitcoin Cash casinos, and USDC casinos if you are looking for more crypto gambling options with stablecoins.
Not backed by fiat assets
Unlike the titans of the stablecoin world, the DAI is backed by other crypto assets rather than fiat assets. This can be risky as the crypto market is very volatile, and there was a brief scare when Ethereum lost a third of its value earlier this year. While Dai is a success story so far, there is always a fear that if the crypto market were to really crash, how safe would your Dai be?
However, Dai is now buying much more USDC to counter this.
