Why there are no Stable coin gambling sites?

[Tipstar]

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?

[bitbollo]

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.

[Casdinyard]

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.

That is maybe the very reason why they are not operating with fiat currency since we do have laws on acquiring that legislation. There is also one thing in my mind that might be the reason why, there are gambling sites that has a fiat deposit feature however upon gambling you should convert it first with bitcoin, that I think in most cases, platforms are looking into more futuristic way of gambling, coz using crypto is the main difference in gambling to physical casinos right?

[Lakai01]

Playbetr allows users to deposit stable coins:

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?

[boyptc]

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)

[shield132]

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.

[YOSHIE]

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

games accepting stable coins like DAI and USDT.

Topic: Tether (USDT) supported gambling platform?

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

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.

[Slow death]

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?

[dothebeats]

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.

[Shimmiry]

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)

[Oilacris]

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.

[Saint-loup]

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...

[ralle14]

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.

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.

[Twinkledoe]

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.

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.

[leea-1334]

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:)

[bitmover]

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

[Nalbo]

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.

[DoublerHunter]

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.

[rhomelmabini]

Playbetr allows users to deposit stable coins:

Yeah, I search for it and they really do.

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.

[mindrust]

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.