Tether value is tied to the US dollar, and so it’s a stable token that avoids wild price wings, has a high market cap, and has a large daily trading volume. These assets make it a popular cryptocurrency.
A growing number of casinos are accepting USDT, so use your coins to play at the best Tether casinos. Here are our favourites – get started today!
Top Tether Casinos
Guide to Tether Gambling
What’s Tether?
Tether (USDT) markets itself as ‘digital money for a digital age’. It converts cash into digital currency by anchoring or tethering the value to the price of three national currencies – the US dollar, the euro, and the offshore Chinese yuan.
Tether was first launched as Realcoin in 2014 by Reeve Collins, Craig Sellars and Brock Pierce. All three men have vast experience in finance and cryptocurrencies, with Pierce involved in the Bitcoin Foundation and as a co-founder of Block.one, the company behind EOS.
Today Tether is the world’s largest stablecoin (a crypto asset pegged to the value of something relatively more stable, like the dollar). And it is the most widely traded cryptocurrency asset.
One of the biggest criticisms of cryptocurrencies is the crazy price fluctuations. Tether is protected from these changes in the market. Tether is particularly useful during periods of high price volatility as crypto portfolios can move to USDT rather than cashing out to fiat currencies.
USDT also provides a cheap and straightforward way for people and businesses to transact with the US dollar via the blockchain instead of slow and costly financial services providers.
Unlike fiat currencies such as the dollar, Tether is supposedly backed by real reserves, even if we are forced to take the company’s word on that. Tether’s reserves have never been independently audited.
Tether has many high-profile supporters and adopters, including Tether casinos. Notably, USDT does not have its own blockchain. Instead, it works as a second-layer token on the following blockchains, giving it incredible versatility and adaptability: Bitcoin, Ethereum, EOS, Tron, Algorand and OMG.
Tether vs Fiat Currency
Fiat currency refers to traditional currencies like the dollar, euros, yen, rouble etc. One of Tether’s benefits is that it makes cryptocurrency exchanges simple. Just buy Tether and get a fixed rate on several currencies if you wish to exchange.
Tether trades at 1:1 with the dollar, although it has been as low as $0.88.
Tether has a total market cap of $80 billion (March 2022) and a daily trading volume of over $55 billion – around double that of Bitcoin.
Advantages of Tether Casinos
Stable and simple to use
Ethereum and Bitcoin are favoured in online casinos, but they have one major drawback – price volatility. A deposit worth $100 could easily be worth just $70 the next day or up to $130.
Casinos don’t like dealing with these cryptos for that reason, and so they usually always try and peg the value of an initial deposit to a fiat currency.
Tether casinos, therefore, provide an excellent option for both crypto casinos and players. Tokens are pegged to the value of the US dollar, offering security against price swings and a more effortless user experience.
It can be hard to keep track of your 0.000001224 Bitcoin wager. Much more manageable when dealing with simple values in multiples of 1.
Tether makes keeping how much you have deposited, won or lost incredibly simple. And for this reason, it works great for people who want to gamble in cryptocurrency but generally hold coins like Bitcoin and Ethereum. Just exchange for some Tether and use Tether as your betting coin.
Big limits, low costs
Unlike many cryptos, Tether has close to zero transaction costs, and because of the enormous liquidity, payouts/withdrawals are close to instant. Gambling with Tether usually gives you access to higher limits as well.
And as with all crypto coins, gambling with Tether gives you more privacy and relative anonymity – no prying and nosy banks looking at where you choose to spend your money.
Accepted at the best crypto casinos
Not all crypto casinos accept Tether, and at Gambling Crypt, we have found it’s the better crypto casinos that do accept it.
Tether has a reputation as an intelligent coin – used by institutional investors and big-time cryptocurrency sharks. So we guess it makes sense that many of the new crypto casinos that run the latest cutting-edge software and wallets would accept Tether.
So if you see it at one of our casinos, you can take it as a massive positive. Check out the best Tether casinos at the top of this page.
Disadvantages of Tether Casinos
More KYC Checks
Typically, playing with Tether will mean you need to share more personal details with the casino than if you were playing with Bitcoin, for example.
That’s not necessarily a bad thing, but Tether isn’t an anonymous token in the way many other cryptocurrencies are (like Monero).
The better crypto casinos are trying to move away from the dodgy past that typified many cryptocurrency websites, so sharing personal information is becoming more and more standard anyway.
