Why there are no Stable coin gambling sites?

[Naida_BR]

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?

What is the reason to gamble with stable coins?
Bitcoin is the king and the most attractive cryptocurrency out there so casinos would be more interested in getting it instead of stable coins. Apart from that, if they had only stablecoins integrated there will be no differentiation with ordinary casinos.

[abel1337]

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?

What is the reason to gamble with stable coins?
Bitcoin is the king and the most attractive cryptocurrency out there so casinos would be more interested in getting it instead of stable coins. Apart from that, if they had only stablecoins integrated there will be no differentiation with ordinary casinos.

Gambling with stable coins basically means that you are playing with a coin that is not volatile. The only reason I see why they want to play with stable coins is to avoid the volatility of other cryptocurrencies like bitcoin. Crypto casino is different from an ordinary casino on different aspects. And people want to bring the asset stabilization on crypto casinos by playing on stable coins.

Normally ordinary casino does have rules like KYC and people doesn't want that. People want to bring combine the advantages of crypto casinos and the stable asset that you can use on an ordinary casino.

[Becky666]

Though many won't use the said stable coins because of some restrictions place on them, we also understand that, the government has always raised some regulations whenever there's as stable coins be use or intended to be use either by casinos or exchanges. In totality, the government regulations make many of these sites not.always interested in these coins, the very few using them on their platforms can tell better with their experiences.

[AakZaki]

Of course, a gambling platform has a consideration when using stablecoin, because in my opinion, it will be more difficult to make the smallest unit for betting. unlike coins in general like BTC became mBTC or uBTC like poker gambling I have ever played.

then what is the smallest unit if you use stablecoin? of course, it makes it a little more complicated.

[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 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.

You are certainly right, so a good way to avoid this would be to accept stablecoins based on other things than USD or any money. Stablecoins backed by gold for example, like PaxG or Tether Gold could be relevant for that.

[mersal]

As people said crypto gambling site needs fiat license as well to operate a crypto gambling sites which accepts stable coins and not much people are interested in playing on cryptos sites with stable coins so its not worth to spend more money just to attract few users. Moreover people can directly play on fiat sites which is less expensive compared to convert theit fiat into stable coins in an exchange then send and receive to different places to get the same gambling experience.

[verita1]

Tether (USDT) is the largest stablecoin of preference for users and with the highest circulation. As some have mentioned there are already Online Casinos that are accepting stablecoins.
Here is a good review of Top Rated USDT Casinos.

https://thebitcoinstrip.com/tether-casinos/

[STT]

I prefer to keep a seperate allocation of gambling funds in crypto, I think it leads to better discipline.    With mainstream gambling there is always the temptation to keep going back to your bank for a little bit more and turn your luck around by continuing.   Actually the best attitude is to have a set budget every day and walk away when its expended on the days you are not lucky and use it all up, having the balance in crypto makes that more likely as there is a process of conversion.
     Stable coins have their place but I dont want to over allocate funds under the premise its safer in a link to FIAT, theres inflation and losses in FIAT anyhow.   I just doubled all my BTC value in the last month or so also 

[crwth]

I don't think it has something to do with the legality of the stable coins. Isn't it the same if it's transferred like a cryptocurrency and acts like a cryptocurrency makes it viable to cryptocurrency gambling sites? It's not because sites cannot use stable coins, it's probably because they prefer cryptocurrencies instead.

Maybe you can create your own site with that.

[Finestream]

I don't think it has something to do with the legality of the stable coins. Isn't it the same if it's transferred like a cryptocurrency and acts like a cryptocurrency makes it viable to cryptocurrency gambling sites? It's not because sites cannot use stable coins, it's probably because they prefer cryptocurrencies instead.

Maybe you can create your own site with that.

Promoting cryptocurrency in their site is good for crypto adoption, their crypto business would not be success if without crypto so they are just returning the favor I guess, bitcoin is not that fast but still it's what majority of people prefer to use, that is because of the support and I can also think that a gambling sites being a business operator, they are also an investors at the same time.

[panganib999]

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.

So that maybe the main reason why commonly gambling sited just uses cryptocurrencies instead of stable coins. After all, the OP have a good point that why there is no gambling sites that uses stable coins for playing. This information you have said brings my mind into enlightenment. Well, I have already been playing into gambling sites using cryptocurrencies even before and the question have also bumped into my mind, then at least for now I have already know that there are also certain legalities that are needed to be considered. Although stable coins would be a lot more easier to be used, but the request for it to be done will just undergo certain complexities so we just need to stick on using cryptocurrencies since we have already been using it for a little while now.

[MCobian]

I also haven't found gambling sites that accept stablecoins, but some members of this forum have said that there are some
gambling sites that accept stablecoins. And that makes me understand why rarely people play gambling using stablecoins,
the price may be stable, so it's hard to make big profits. So I avoid playing gambling with stablecoins.
 

[BITCOIN4X]

I think its the same, cryptocurrency based gambling games are easy because we can exchange them anywhere and most of these cryptocurrency gambling sites only accept famous cryptocurrency. So it is no different from stable coins, but if this is because you want to maintain your balance, the choice is to play on sites that accept stable coins and not have to be weird just because the site you are playing on does not accept stable coins.

If you are worried about costs, I think LTC is altcoin which has a pretty low fee.

[MFahad]

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 need to gamble with stable coins then i think you should visit physical casino and there you can gamble with USD. Although it will not be the coin (USDT) but it will be the actual USD and it is stable too. I never like the tether coin.

[iv4n]

I don't wish to sound like I'm advertising tron gambling (in last couple weeks I made few posts where I mentioned tron), but couple prominent tron casinos have usdt, and you can gamble with their stable coin on these two places I know, probably there're several more, quick search about tron gambling sites will lead you to the right place. Except tron casinos, tether is accepted at bitstarz and mbit casino, at least they had it, I didn't visit or played on this two sites for a while (more than a year). For other stable coins I don't know, but you can search more about it on google and you will find a casino you need!

[DarkDays]

I've also wondered why there are so few stablecoin supporting sites, literally only around a quarter of crypto gambling sites actually support stablecoins—even decentralized ones like DAI.

I'm thinking that it's to do with regulations.

After all, most crypto casinos are not licensed to offer fiat gambling services. Since some stablecoins are a proxy for fiat, you could imagine that casinos that support stablecoins like Tether or TrueUSD might also fall under the scope of the financial conduct authority (FCA) or other regulatory bodies that handle money transmission.

That said, I really wish they'd find a workaround, as I hate risking volatility to play with BTC.

[Saint-loup]

If you are worried about costs, I think LTC is altcoin which has a pretty low fee.

Doge is even faster than LTC with lower fees! And is almost a stablecoin since several months (it goes up when btc goes down and goes down when btc goes up)

[Quidat]

If you are worried about costs, I think LTC is altcoin which has a pretty low fee.

Doge is even faster than LTC with lower fees! And is almost a stablecoin since several months (it goes up when btc goes down and goes down when btc goes up)

EOS,XRP,TRX  is also a good alternative when we do talk or being concern about fees.About on the topic why theres no
stable coin in gambling sites, actually there's a few already. Regulation aspect is the definitely the closest reason
why they havent included this one.

[theroyalgambler]

I believe some beginners in the crypto gambling are still afraid of this "new thing", I mean they want to rely on something that they feel or think is more secure or less volatile than king Bitcoin.
So, fear plays a good role while someone would look for crypto casinos with licences or that could use stablecoins

[Renampun]

If you are worried about costs, I think LTC is altcoin which has a pretty low fee.

Doge is even faster than LTC with lower fees! And is almost a stablecoin since several months (it goes up when btc goes down and goes down when btc goes up)

EOS,XRP,TRX  is also a good alternative when we do talk or being concern about fees.About on the topic why theres no
stable coin in gambling sites, actually there's a few already. Regulation aspect is the definitely the closest reason
why they havent included this one.

I don't think the answer is regulation...
I don't think it's hard for a gambling site to provide a stable coin option, but why average gambling sites did not want to, the reason is that it is less profitable and comfort factor. average online crypto gambling players are comfortable with BTC, DOGE, ETH and LTC options.