Is Bitcoin still king of crypto gambling, or have stablecoins taken the crown?

[Natalim]

In the past, Bitcoin gambling was huge, some even say it’s what made crypto popular in the first place. Instant bets, no banks, and privacy.

But now with KYC everywhere, BTC doesn’t really give that privacy edge anymore. Add the price swings, and stablecoins (USDT, USDC, etc.) start to look more practical for gamblers.

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

[Don Pedro Dinero]

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

Well, to be honest, I have no idea because I only have Bitcoin, and if I've ever had anything else like USDT, it's because I've earned it in free spins and things like that. I think that people like me who are bitcoin maximalists don't worry about this too much, except perhaps during periods when fees rose significantly, but under normal conditions like now, I deposit bitcoin and in most casinos, if you have a low betting volume, they don't ask you for KYC, so there is an advantage to this. In addition, when I bet, I do so with the equivalent converted to USD, so volatility does not affect me there.

[robelneo]

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

I'd like to believe that it is, unless you can show us a statistic or data that indicates it's not anymore. Bitcoin remains the preferred coin for many of us.
There will be times when many gamblers will opt for stablecoins or any other coins if there is a spike in fees, but they will return to using Bitcoin.
This question is good for us to have a poll on to see if there is a shift from Bitcoin to stablecoins here in the community.

[mindrust]

First of all stable coins are not real crypto. They are centralized. Bitfinex can freeze your funds in your wallet so I have heard. Why would anybody use that shit is beyond me but that doesn't mean there aren’t any cheaper and faster alternatives to bitcoin. Doge and Litecoin are cheaper and faster and they work just fine. I don’t think they are safer than bitcoin which is very important if you are a hodler but since we are talking about casinos/gambling here, i would use these alts over btc. I wouldn’t use USDT or any other stable coins to make bets though. I don’t like centralized projects. To me doge and ltc are far superior to usdt in every aspect. Bitcoin onchain fees are quite cheap lately too. I can’t deny that but still, doge and ltc are much, much cheaper and way faster.

[Maslate]

not sure how reliable this is, but based on that 2024 article with stats, bitcoin is still king.

https://chainwire.org/2024/08/21/2024-crypto-gambling-stats-unveiled-by-casinorix/

Crypto Gambling Transactions
As stated, BTC remains the most popular virtual coin for casino transactions, accounting for almost 75% of all transactions. Ethereum is the runner-up, used for nearly 9%, and Litecoin is bronze, with 6%. Tether and Dogecoin close the top five. Even though the industry has a clear leader, casinos try to expand the cryptocurrency selection to give punters more freedom and variety.

As we can see, 75% is still very high, so at that rate there’s really no chance stablecoins will take over.
some might think bitcoin is too precious to use for gambling, but that’s not really the case as not all bitcoin users are investors. majority of the users and volume are from real adoption, like spending in gambling for example. and now that fees are already more controlled,

I’d say bitcoin is still the most attractive coin for gambling IMO.

[Beparanf]

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

I believe Bitcoin is still the king since there’s a lot of Bitcoin whale that holds huge chunk of Bitcoin that accumulated in the past and now have high volume so their wager was huge considering the current price.

Although that is just a speculation and it’s truly more convenient nowadays to play in USDT or other stablecoin so that player will not worry about price volatility which sometimes bother gambler when the price plummet significantly.

In general, My opinion is Bitcoin still the king.

[un_rank]

Every website I have played on has bitcoin on its list of accepted cryptocurrencies except those that are built on specific blockchains and only accept payment in the native currency of that chain.

But now with KYC everywhere, BTC doesn’t really give that privacy edge anymore. Add the price swings, and stablecoins (USDT, USDC, etc.) start to look more practical for gamblers.

KYC does not play a role here, in my experience there are less strict KYC processes now than there was. Price swings do not matter either as casinos lock value when you make a deposit.

It should also be said that bitcoin is not in competition with other cryptocurrencies. Players can make their choice on which currency to use based on their preference.

- Jay -

[Agbamoni]

Only when the fees are high do people have problems depositing Bitcoin. I'm used to being able to deposit with Bitcoin since the fees are low and it doesn't affects me in any way.

Actually i feel like it depends on the currency you hold. If you are holding Bitcoin in your wallet, you tend to make transactions using Bitcoin a lot more than just converting to stablecoins.

[X-ray]

Crypto betting narrative is shifting into the stable token. People used stable token more often than Bitcoin for betting as it's fast and no fluctuation. Why do we need to use Bitcoin if we have stable who can deliver our txs in matter of seconds and also not put us into the risk due to the volatility?

I said that based on what i saw in the crypto live bet. The bet used stable token often appeared instead of Bitcoin bet.  

[stompix]

not sure how reliable this is, but based on that 2024 article with stats, bitcoin is still king.
https://chainwire.org/2024/08/21/2024-crypto-gambling-stats-unveiled-by-casinorix/

From the article:

The crypto gambling market is currently evaluated at around $250 million, with substantial growth prospects.

Allow me to use that study as toilet paper.
I was just talking in another thread how Stake alone reported 4 billion in revenue, and this "analysis" talks about 250 million? Lol.
Also:

50% of All BTC Transactions Are Gambling Related

That means that the entire Bitcoin ecosystem is just below $500 million? Lmao!

[Mr. Magkaisa]

With the casinos I am playing USDT/USD vs BITCOIN..

Deposit and Withdrawal speed, it is USDT  will win by hundred or more time.
But with the amount you can deposit and widthdraw?

Limit for the USDT  approx 20,000 while Bitcoin 12,000,000

[coin-investor]

not sure how reliable this is, but based on that 2024 article with stats, bitcoin is still king.

https://chainwire.org/2024/08/21/2024-crypto-gambling-stats-unveiled-by-casinorix/

Crypto Gambling Transactions
As stated, BTC remains the most popular virtual coin for casino transactions, accounting for almost 75% of all transactions. Ethereum is the runner-up, used for nearly 9%, and Litecoin is bronze, with 6%. Tether and Dogecoin close the top five. Even though the industry has a clear leader, casinos try to expand the cryptocurrency selection to give punters more freedom and variety.

This shoots down OP's assumption that stablecoins have replaced Bitcoin as the king of crypto gambling. I don't know where it's coming from, but 50% of Bitcoin transactions, as stated by Stompix, have just established Bitcoin as the primary coin in use for the majority of casinos.

I don't see the trend changing. Bitcoin and casinos are a match made in heaven; both complement each other, and there will be no disruptions of that combination.

[Charles-Tim]

But now with KYC everywhere, BTC doesn’t really give that privacy edge anymore. Add the price swings, and stablecoins (USDT, USDC, etc.) start to look more practical for gamblers.

There are still few non-KYC crypto gambling sites. I still see few web2 gambling sites that do not necessarily require KYC while I also see all web3 gambling sites that do not require KYC. I am not implying that web3 can not require KYC but all the ones that I have seen are non-KYC gambling sites.

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

There are still many people that are using bitcoin to gamble, but many people also prefer stable coins like USDT and USDC.

[danherbias07]

Nah, I don't think so. It may be the king of assets, but not in gambling anymore.

Not just stablecoins, it is the local currency too. There are lots of online casinos now that are only serving their country, and it means regulation. They have an option of local currency only, and digital cash applications do make sure that they will be part of it. The ease of depositing is there and I think most gamblers like it this way than using cryptocurrencies.

[Dunamisx]

In the past, Bitcoin gambling was huge, some even say it’s what made crypto popular in the first place. Instant bets, no banks, and privacy.

But now with KYC everywhere, BTC doesn’t really give that privacy edge anymore. Add the price swings, and stablecoins (USDT, USDC, etc.) start to look more practical for gamblers.

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

If bitcoin is the king of cryptocurrencies, then it is obviously the king of all coins used in gambling, forget about stablecoin or not this time, what the gamblers has the most is bitcoin and that is what they are more prone to gamble with, that is still the same coin that has the most populated users from across the world, even though, the use of bitcoin for gambling purpose does not make bitcoin get to the value it has today or be the most recognized coin in crypto, there are more applications to the use of bitcoin outside gambling that has more relevance and has contributed more to where it is.

[lionheart78]

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

Due to centralized casinos, the KYC and the volatiltiy of Bitcoin, I think that people are shifting to USDT as their gambling currency.  I believe Bitcoin had already passed the era where it is mainly used in gambling platforms, and some people don't want to bet with their BTC due to the possible profit it can bring in the long run.  So instead of using Bitcoin many tend to use USDT to either preserve their monetary value or not to missed the possible profit that Bitcoin bring which USDT being a stable coin can't give.

I agree that Bitcoin might be the most popular today in terms of casino usage, but I think, in the coming years, many will see Bitcoin so precious that they will shift their currency usage to stable coin when engaging in gambling platform..

[tsaroz]

In the past, Bitcoin gambling was huge, some even say it’s what made crypto popular in the first place. Instant bets, no banks, and privacy.

But now with KYC everywhere, BTC doesn’t really give that privacy edge anymore. Add the price swings, and stablecoins (USDT, USDC, etc.) start to look more practical for gamblers.

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

I haven't seen the stats but considering how many different coins we use and the mix of coins most casinos accept, BTC could still be the leader. Even if BTC is a high price token, its fees are still very low. The fees is mostly lower than USDT (ERC) and in line with BSC network. I'm using BTC to transact to and out of casinos and if you are using segwit address and can wait, the fees are not the issue.
On other hand, a new popular form of transacting USDT, USDC are given from Arbitrum and Avalanche. Though many casinos still don't support them. Whatever be the stats, its always good to have many choices, specially fast transacting, low fees coins.

[Fiatless]

I agree that Bitcoin might be the most popular today, but I think many will see Bitcoin so precious that they will shift their currency usage to stable coin when engaging in gambling platform..

Bitcoin is still a major currency in almost all casinos, which shows that gamblers still use it. This answer to the question would be better answered using valid research. I am aware that during the congestion of the mempool, when Bitcoin transaction fees skyrocket, gamblers prefer stablecoins for gambling. However, I think the choice of which coins to use will depend on which coins are at the disposal of the gambler.   

[Russlenat]

If i’m a gambler who only cares about winning, I’d rather go with stablecoins than bitcoin just to eliminate the volatility. Imagine you’re already gambling, then on top of that you’re also gambling on bitcoin’s price swings - that’s double the risk.

Sure, bitcoin might end up giving you more profit than gambling itself, but that’s not the point. the point of gambling is to win in the game, not on the coin’s movement.

But honestly, i haven’t really seen reliable stats on this. still, since we’re in the crypto space and bitcoin’s dominance is above 50%.
I'd assume bitcoin is still the top choice in the gambling world compared to other crypto assets.

[Lanatsa]

In the past, Bitcoin gambling was huge, some even say it’s what made crypto popular in the first place. Instant bets, no banks, and privacy.

But now with KYC everywhere, BTC doesn’t really give that privacy edge anymore. Add the price swings, and stablecoins (USDT, USDC, etc.) start to look more practical for gamblers.

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

I haven't seen the stats but considering how many different coins we use and the mix of coins most casinos accept, BTC could still be the leader. Even if BTC is a high price token, its fees are still very low. The fees is mostly lower than USDT (ERC) and in line with BSC network. I'm using BTC to transact to and out of casinos and if you are using segwit address and can wait, the fees are not the issue.
On other hand, a new popular form of transacting USDT, USDC are given from Arbitrum and Avalanche. Though many casinos still don't support them. Whatever be the stats, its always good to have many choices, specially fast transacting, low fees coins.

Bitcoin was definitely the coin that helped push crypto gambling into the spotlight in the early days it had the perfect mix of instant payments global reach and a sense of privacy that traditional systems couldn’t match back then the idea of betting without banks or middlemen felt revolutionary but the landscape has changed a lot since those times. With kyc rules becoming standard across most platforms that privacy edge isn’t really there anymore and when you add bitcoin’s price volatility it becomes less ideal for gamblers who want stability no one wants to deposit for a game and then see their balance lose value before they even place a bet this is where stablecoins come in usdt usdc and others give gamblers exactly what they need predictable value and fast transfers on certain networks.

Even so bitcoin hasn’t lost its presence it’s still widely accepted and trusted by casinos and gamblers alike for many users btc remains the default option simply because it’s familiar and its fees when using segwit addresses or batching transactions can be surprisingly low compared to erc20 usdt in fact on congested days usdt on ethereum can be way more expensive than btc. That said stablecoins are becoming the practical choice for a lot of people especially with the rise of faster cheaper chains like arbitrum avalanche tron or bsc the convenience of keeping balances stable while enjoying low transaction costs makes them attractive but adoption is still catching up not every casino has built support for them yet. So at this point it feels less about “btc vs stablecoins” and more about coexistence btc still. holds.symbolic and practical weight as the king of crypto gambling but stablecoins are carving out a strong space because they solve the volatility problem the future likely belongs to a mix where btc remains a cornerstone while stablecoins steadily grow as the preferred tool for everyday players