Games and Rounds - Buy-in for poker in USDT, prize payout in BTC

[MVPoker]

Hey guys,

not sure if this post belongs here or in the games and rounds section, but since it is a question about forum rules, I guess it's appropriate to post it here.

I wanted to publish poker rounds in games and rounds from time to time. I know that alt coins are not allowed as prizes there. If I want to run a heads-up series over several weeks or months, can I take USDT as buy-in and then at the end of the series convert into BTC for payouts, so prizes will be in BTC?

Thanks in advance!

[acroman08]

I am not entirely certain, but I think it's fine, I mean, there are threads on games and rounds that ask people who will participate on their promotion/contest to deposit XX amount of money in order to be eligible and they don't mention anything about what currency to use, and they are not getting reprimamded for it, so, I think it doesn't matter what currency you use to deposit or, in this case, buy in, as long as the prize is in BTC.

[Rhow]

Hey guys,

not sure if this post belongs here or in the games and rounds section, but since it is a question about forum rules, I guess it's appropriate to post it here.

Since you want to know and discuss the rules in the forum, this thread is fine on the Meta board.

I wanted to publish poker rounds in games and rounds from time to time. I know that alt coins are not allowed as prizes there. If I want to run a heads-up series over several weeks or months, can I take USDT as buy-in and then at the end of the series convert into BTC for payouts, so prizes will be in BTC?

Thanks in advance!

As far as I know, if you take the entry fee in USDT, the moderator can accept it. But since the forum rules require that the prize be paid in Bitcoin, you have to accept that and give the prize in Bitcoin. But if you keep all your entry fee in USDT for a few months and change it to Bitcoin when the prize is given, then the moderator may not accept it as a Bitcoin-based competition. Then they may take other measures. So you can convert it to Bitcoin as soon as you receive USDT.

[icopress]

I wanted to publish poker rounds in games and rounds from time to time. I know that alt coins are not allowed as prizes there. If I want to run a heads-up series over several weeks or months, can I take USDT as buy-in and then at the end of the series convert into BTC for payouts, so prizes will be in BTC? [...]

Yes, you can.

Obviously, collecting buy-ins in Bitcoin is difficult due to the volatility of USDT and the difficulties with setting up a poker lobby, so this practice should be fine. Just specify that prizes will be paid in Bitcoin.

[MisFoxie]

can I take USDT as buy-in and then at the end of the series convert into BTC for payouts, so prizes will be in BTC?

Thanks in advance!

Yes you can, it's upto you what you want to show rewards amount as. Like many campaign manager do, they mention "Prize pool $50" when the campaign end they pay in BTC.
Btw if you have BTC you can also shows it as "Prize pool 0.00055 BTC (~$35)" later if BTC price goes down you don't have to buy more to pay.

[MVPoker]

~

Yes, you can.

Obviously, collecting buy-ins in Bitcoin is difficult due to the volatility of USDT and the difficulties with setting up a poker lobby, so this practice should be fine. Just specify that prizes will be paid in Bitcoin.

Appreciate the quick response @icopress!

I will now lock this thread, thanks guys.