Is it beneficial for the crypto casinos to add stable coins?

[mirakal]

I came across the article below as I was browsing for gambling news today, it was cloudbet that I just found out they added stable coins already since I am not really an active user of the site though I created an account their years ago, which I can still access for sure.

Cloudbet Adds USD Tether as First Stablecoin Solution


Now, here's my questions, is it beneficial for the crypto gambling industry and can we expect other popular casinos in the forum will soon add stable coins?

[akram143]

It will give more traffic to their site for sure because most bitcoin users are not interested in spending their cryptos right now so stable coin holders will visit sites and will try their luck on gambling.But I think they crypto gambling sites need fiat casino license as well if they want to add any stable coin, correct me if I am wrong.

[Maus0728]

In terms of volatility, yes, USDT allows their players to be somehow invincible to the high volatility rate of bitcoin and any other altcoins such as ETH, DOGE, etc..

But how about the governing body who makes USDT or stablecoin become prone to freezing if such user reluctantly gamble such large amount of money exposing the site as a hot reservoir for central authorities. Isn't it that it defeats the purpose of using cryptocurrency in which gambler/crypto gamblers has the ability optimize their privacy and secure their coins knowing that most of the gambling site does not require KYC.

[Degens]

I came across the article below as I was browsing for gambling news today, it was cloudbet that I just found out they added stable coins already since I am not really an active user of the site though I created an account their years ago, which I can still access for sure.

Cloudbet Adds USD Tether as First Stablecoin Solution


Now, here's my questions, is it beneficial for the crypto gambling industry and can we expect other popular casinos in the forum will soon add stable coins?

USDT can be blacklisted, so it's not ideal for gaming.  DAI is fully decentralized, so I could see that taking off.

The sports betting exchange Degens.com uses DAI exclusively. It used to use ETH but the users wanted to make bets in something with n volatility.

[Bitinity]

Now, here's my questions, is it beneficial for the crypto gambling industry and can we expect other popular casinos in the forum will soon add stable coins?

There must be at least a good reason why casinos add stable coins. One of the possible reason is to gain more traffic and perhaps many of their players ask them to add it. Adding stable coins can be a trend in the future imho if the traffic on those early casinos who add stable casinos increase steadily or even significantly.

I found an article from playbetr about this case, just in case you want to read it for references https://www.playbetr.com/benefits-gambling-stablecoins

[acroman08]

It could be beneficial but aren't USDT centralized? wouldn't that defeat wanting to gamble anonymously or without a central authority? although I understand gamblers wanting to gamble without worrying that their money would suddenly decrease its value but if they want to gamble without worrying about it why not just gamble on a fiat-based casino? wouldn't that be almost the same thing?

[stadus]

It could be beneficial but aren't USDT centralized? wouldn't

Yeah it's centralized.

that defeat wanting to gamble anonymously or without a central authority? although I understand gamblers wanting to gamble without worrying that their money would suddenly decrease its value but if they want to gamble without worrying about it why not just gamble on a fiat-based casino? wouldn't that be almost the same thing?

You don't lose your anonymity even if you are using a stable coin as it's still crypto.

The only difference with other assets like bitcoin and ETH from USDT is that it's not volatile, the value is fix and gamblers does not have to worry on the price changes, which I think would attract a lot of gamblers but for crypto in general, I don't think it's beneficial as real crypto assets should be the assets that we are promoting.

[Wexnident]

I guess it could be useful. I mean, every one of us understands how cryptos are very volatile, and letting them sit on my casino account when I'm not even using it could pose potential problems when price changes happen. Sure, changes may happen positively, but as there is two sides of the coin, the same could be said for negative changes. In the end, stable coins are there to ensure that my funds inside my gambling account don't change due to volatility.

It could be beneficial but aren't USDT centralized? wouldn't that defeat wanting to gamble anonymously or without a central authority? although I understand gamblers wanting to gamble without worrying that their money would suddenly decrease its value but if they want to gamble without worrying about it why not just gamble on a fiat-based casino? wouldn't that be almost the same thing?

People gamble in the crypto-casinos cause of it providing speed and anonymity, compared to fiat casinos. The fact that credit card information is revealed whenever you gamble in fiat casinos has been a pain since long ago after all. Besides, stable coins still retain their anonymity. Stable coins are still cryptocurrency, they still act the same in providing anonymity.

[acroman08]

It could be beneficial but aren't USDT centralized? wouldn't

Yeah it's centralized.

that defeat wanting to gamble anonymously or without a central authority? although I understand gamblers wanting to gamble without worrying that their money would suddenly decrease its value but if they want to gamble without worrying about it why not just gamble on a fiat-based casino? wouldn't that be almost the same thing?

You don't lose your anonymity even if you are using a stable coin as it's still crypto.

The only difference with other assets like bitcoin and ETH from USDT is that it's not volatile, the value is fix and gamblers does not have to worry on the price changes, which I think would attract a lot of gamblers but for crypto in general, I don't think it's beneficial as real crypto assets should be the assets that we are promoting.

I see, thanks for clearing that up. in that case, having a stable coin on their gambling site would be beneficial for them and yeah, as you said, it would attract gamblers and most likely increase the traffic on their gambling site. if this implementation on their website prove to be successful, then I suppose it would just be a matter of time before other gambling site di the same thing.

[cabron]

 If I want to bet just the exact amount in USD, tether would be the best to use. There are more casinos today accepting USDT though. Some casinos in EOS and TRON platform had also been using USDT. These casinos even have a mini exchange within itself so that a gambler can turn their BTC into USDT and can even withdraw USDT as well. Its beneficial to have it in casinos since its like getting out of crypto volatility.

[mirakal]

I came across the article below as I was browsing for gambling news today, it was cloudbet that I just found out they added stable coins already since I am not really an active user of the site though I created an account their years ago, which I can still access for sure.

Cloudbet Adds USD Tether as First Stablecoin Solution


Now, here's my questions, is it beneficial for the crypto gambling industry and can we expect other popular casinos in the forum will soon add stable coins?

USDT can be blacklisted, so it's not ideal for gaming.  DAI is fully decentralized, so I could see that taking off.

The sports betting exchange Degens.com uses DAI exclusively. It used to use ETH but the users wanted to make bets in something with n volatility.

Blacklisted how? I think it's volume is big enough for gamblers to think that USDT is quite good for online gambling since its very liquid.

Can you enlighten me a bit on the "Blacklisted" thing?

[Twinkledoe]

It could be beneficial but aren't USDT centralized? wouldn't

Yeah it's centralized.

that defeat wanting to gamble anonymously or without a central authority? although I understand gamblers wanting to gamble without worrying that their money would suddenly decrease its value but if they want to gamble without worrying about it why not just gamble on a fiat-based casino? wouldn't that be almost the same thing?

You don't lose your anonymity even if you are using a stable coin as it's still crypto.

The only difference with other assets like bitcoin and ETH from USDT is that it's not volatile, the value is fix and gamblers does not have to worry on the price changes, which I think would attract a lot of gamblers but for crypto in general, I don't think it's beneficial as real crypto assets should be the assets that we are promoting.

Maybe another option for the gamblers, it may be beneficial for some players who are conscious with volatility. But I don't think the addition will have significant effect on the casino itself.

[Lordhermes]

Adding stable coin to casino companies would actually gives traffic to the betting sites so as attracting new bettors. Users betting with Bitcoin would probably feel a slight regret hoarding their coin if bitcoin could go on a high moon. Stable coin is beneficial to gamblers.

[swogerino]

Some casinos have implemented beside cryptos even Fiat in order to expand their target of users and I think this is the most successful approach to this.This will put a bit more burden to the casino maintenance group but it will be well worth it as long as it expands the target users of the casino and increases the numbers of players.

[imstillthebest]

its always beneficial for the casino to add a new crypto coin because we gamblers cant agree or unite with one brand of coin . we sometimes have our preference because we think that coin brings us luck . my friend only use litecoin because he said he is lucky with this coin so to some gambler they can use usdt or a stable coin because they have other reasons too . while for me i just coins that are fast and easily accesible .

[Maslate]

Definitely beneficial for the crypto casinos as it would entice gamblers who does not want to gamble with the market volatility.
It's like gambling using fiat but easier, cheaper and faster in terms of processing of transactions.

As of now, I think there are only few sportsbook that are adding stable coins particularly the USDT in their platform.

[milewilda]

I came across the article below as I was browsing for gambling news today, it was cloudbet that I just found out they added stable coins already since I am not really an active user of the site though I created an account their years ago, which I can still access for sure.

Cloudbet Adds USD Tether as First Stablecoin Solution


Now, here's my questions, is it beneficial for the crypto gambling industry and can we expect other popular casinos in the forum will soon add stable coins?

Everything is beneficial as long players would able to make deposits into the gambling site itself neither he do uses volatile coins such as BTC and other top alts or using up stable coins.
For house concern then we know that they do rely on House edge which means adding up stable coins wont really be that a big thing but it would be an option that might pull out some gamblers that
are preferring to use stable coins to avoid market volatility while they do play but most of the time i cant really say that people are minding that much when they do already make use of their crypto.
They are willing on what would they earn and whats the value of it when they do tend to cash out and tend to convert it.

[bitbunnny]

Some casinos have implemented beside cryptos even Fiat in order to expand their target of users and I think this is the most successful approach to this.This will put a bit more burden to the casino maintenance group but it will be well worth it as long as it expands the target users of the casino and increases the numbers of players.

From the volatility perspective it's good to offer fiat. That might also atract gamblers who don't have or don't want  to spend cryptocurrencies.
On the other hand that might be a burden for casinos not only because of maintainance.but from regulatory perspective too and additional pressure from authorities in some countries.

[Timelord2067]

USDT is used on a wide number of exchanges as a go between fiat to crypto.  That said, ETH opens up a whole new scope of traders with ERC-20 crypto that can be tapped into.  Just about any crypto's that have been around a couple of years have multiple exchanges and block-chain explorers/stable block-chain should also be considered.

Games such as Dice would probably be the first cabs off the rank in that case due to their widespread popularity.

[LogitechMouse]

I have seen many gamblers wanting USDT or any stable coin to be added on the list of the coins to be used in a site.

While some others wanting to have fiat currency added to these gambling sites, I think that these sites might focus first on the crypto coins and some are already doing it. Yes there are some maybe that are accepting fiat currencies but only few and most of them are just accepting crypto coins. For some conservative gamblers who can't take the volatility of crypto (like for ex. they lose a lot of Bitcoin and at the same time the price of Bitcoin went down too so the fiat value of their Bitcoin went down harder) then USDT is a better choice for them.