The Growing Interest in USDT Among Gamblers

Bitcoin has long been the standard when it comes to funding betting accounts with offshore sportsbooks and online casinos ever since we here at Gambling911.com suggested the concept to an industry colleague back around 2014. 

We were laughed at.

"Our industry will never use Bitcoin," this person told us.

We won't identify him (only that it was a "he").  Look who's laughing now.

Bitcoin exploded onto the scene some time thereafter and nobody has looked back.

But Bitcoin has its drawbacks. 

The price fluctuations during volatile times can work in a gambler's favor, but can also work against the customer.  If the price drops, so too does the value of your payout.

Because USDT is tied to the dollar, your payout won't change during the transfer process.

Gambling911.com is thrilled to welcome back BetPhoenix and Skybook as part of our expanding family of fine gambling sites.  Both are actively promoting funding and withdrawals via USDT (also known as Tether).

There is a fee called the "gas price" associated with USDT that does fluctuate.  As of this writing, it's been pretty low of late but on October 17 was coming in at $4.47.  Last month and in August, you could pay a fee between $3.00 and $3.50.

In your cryptocurrency wallet we suggest maintaining roughly $20.00 in Ethereum depending on how frequently you move money using UDST.  This will ensure you always have enough to pay your fee. 

Understanding how these fees work is essential to funding one's account and receiving payments via USDT.

Also know there are different USDT networks.  TRC20 USDT is arguably the most popular and most utilized by the gambling sites.  Please be sure to verify just in case.

Cloudbet, which works exclusively in the crypto space (no credit cards, wires, etc.), recently commissioned a study that found year-to-date data shows that USDT accounted for 47.3 percent of the platform’s total turnover, across more than 35 cryptocurrencies. Bitcoin claimed a 28.9 percent share followed by Ethereum at 11.5 percent.

A company spokesperson told Crypto Daily, “After looking over the data, it was one of those moments where you’re just like, ‘Crypto gamblers. They’re just like us.’ The same concerns about volatility or price fluctuations bond every crypto holder, whether you bet or not.”

They added: "We’re interested to see how users will take advantage of the versatility of the rewards program. While the first iteration has clearly been a hit with our users and has accelerated the shift toward this next quarter, we might find that users start betting with PONKE or other memecoins as a way to lean into alternative crypto projects, especially if they’re bullish on their potential.”

Benefits of Using USDT