2021 has already been a good year for crypto casinos, which are on the rise with the recent Bitcoin bull run. While Bitcoin is arguably the most popular option for online gambling, crypto casinos are thriving across the board, and altcoins, such as Tether, offer viable alternative options. Overall, cryptocurrencies and blockchain technology are no longer as exotic as they used to be and have become part of our vocabulary.
Advantages of Gambling With Tether
Within the world of cryptocurrency gambling, Tether casinos are sought-after because Tether is a stablecoin: pegged to the US dollar, this coin is less liable to price fluctuations, for better or worse. It’s an obvious advantage: when gambling with Tether, players can enjoy all the benefits of crypto casinos – such as provably fair gambling and faster payments – all without the added volatility of constant price changes.
It’s also a fairly well-established coin, being consistently one of the most traded cryptocurrencies alongside Bitcoin and Ethereum.
Of course, the fact that Tether is now available at many casinos – including at several high-profile cryptocurrency gambling houses – also helps. Tether casinos are relatively easy to find, and the competition stimulates a healthy, thriving industry.
Crypto casinos in the past indeed struggled to offer the best customer experience, but nowadays, they look and feel just like a traditional casino. Consequently, USDT casinos are now attractive even to those not specifically interested in cryptocurrency gambling.
All in all, gambling with Tether is a safe bet, especially when compared with lesser-known cryptocurrencies: it’s unlikely the coin will suddenly devalue, rendering player’s deposits and winnings worthless.
Challenges Facing Tether Casinos
While cryptocurrency casinos have become more widespread in the last few years, they are still a niche market. Lack of general awareness is, consequently, an issue. Tether casinos will always have a narrower target audience than those accepting fiat payments. While many also offer other payment options, the mere association with cryptocurrencies is enough to dissuade some crypto-wary users.
What’s more, online gambling regulators are still concerned with the perceived anonymity and the undeniable volatility of cryptocurrencies. This is a lesser problem with stabler, more established coins, but it is, nonetheless, an issue. For that reason, Tether casinos are still mostly confined to unregulated markets and operate under a legal grey area in many jurisdictions.
Tether is also a controversial coin: despite claiming to be a stablecoin, pegged to the dollar, it has still gone through devaluation periods, which harmed its reputation. The many questions about the coin’s stability and transparency, for instance, may cause players and casinos alike to prefer other alternatives.
For the most part, however, Tether casinos are full of potential. With the overwhelmingly positive trend we’ve seen around online casinos and cryptocurrencies in recent years, they are likely to become even more prominent in the online gambling scene.