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Best Tether Bookmakers

Tether (USDT) is a cryptocurrency that maintains a constant value of 1$. It is primarily used as a way to counter the extreme volatility found in crypto markets. This feature also finds a perfectly good use case in the online gambling industry.

Unsurprisingly, Tether bookmakers are some of the most sought-after. They provide an ideal way to enjoy the benefits of cryptocurrencies without exposure to volatility. Keep reading to find out USDT's betting benefits, along with what networks to use and the top bookies.

What Are The Top USDT Sports Betting Sites

BMB_Best IconWe have gathered a list to help you filter out the rotten apples and find an enjoyable USDT sports betting site. The Tether betting sites we recommend offer you great bonuses, good payout and fast withdrawals. You can also check their respective dedicated reviews to get a better grasp of them.

Why you should try USDT Gambling

BMB_Power IconThe main deterrent to cryptocurrency gambling is volatility. Your crypto capital is susceptible to quite random price swings that heavily affect your bankroll management. It takes extra time and patience to deal with that.

So naturally, most bettors avoid cryptos and stick to traditional currencies to keep their peace of mind. Well, Tether completely eliminates the annoying volatility factor. In this way, you can enjoy the anonymity and fast transaction speed of cryptocurrencies without any consequence.

Tether gambling may also be the ideal introduction to crypto bookmakers and casinos. As a new player, you will not have to do additional research about a specific coin. Moreover, bankroll management will be easier, as the Dollar value of Tether does not require additional calculations.

Tether Transaction Networks

BMB_Stacked CoinsBefore proceeding to the Pros & Cons of Tether, it is important to clear out a technical characteristic that accounts for the most mistakes made in USDT transactions. Tether transactions are facilitated by more than one network.

If you send funds to a wallet that does not support that specific network, you will lose them. The most common networks for Tether gambling purposes are Ethereum (ERC-20), Tron (TRC-20), Solana (SPL) and Polygon.

When you click a bookie’s deposit methods, the separate supported networks will be specified. Make sure that you send your USDT to the correct one. ERC-20 is the most common but boasts high fees due to Ethereum’s congestion issue.

An upgrade is planned in the near future, but until then, the Tron network is faster and charges very low fees. Solana and Polygon are less popular but just as good.

Benefits of Tether Betting

BMB_Approve_HandUSDT is available in many popular crypto exchanges. It also accounts for a major percentage of the trading volume. Therefore, there will be absolutely no liquidity issues. Also, most cryptocurrency and Fiat pairings in exchanges are based on USDT.

That means that you can easily trade Tether with other cryptocurrencies or a traditional currency, minimizing fee charges. Other main advantages of Tether can be grouped as below.

✔️ Anonymous Transactions

Regardless of the network used, all transactions via Tether are registered in the respective network’s blockchain. Therefore, anybody can see them, but the wallets only hold an alphanumeric address.

Thus, no personal information will be available to see. Moreover, most crypto-friendly bookies do not request a KYC process. Combining these two factors means that you will be able to keep a low profile while Tether gambling.

✔️ 100% Deposit Acceptance Rate

As in all cryptocurrencies, the technology behind Tether prevents any failed deposits. They are conducted fast and securely in a blockchain network that guarantees the funds transfer. You will face no disruptions in your betting activity by having to contact support.

✔️ No Third-Party between payments

The blockchain technology that we have mentioned eliminates the need for a third party to confirm the payments. That is done peer-to-peer, so your transaction with the bookie will be direct. That also prevents disruptive audits or AML checks, so you will not face any blocked funds or frozen accounts.

✔️ No Volatility

Indisputably the main advantage of Tether gambling. You can convert your Fiat funds to USDT, and the value will stay the same. The crypto market conditions will have no consequences. In this way, you have an easier time knowing how much you deposit, what you gain and what you lose.

This is a common case with all coins which are based on the US dollar. You can also have a stabilised value of your bankroll in any of our approved USD Coin betting sites.

✔️ Crypto Bonuses

Usually, crypto bonuses and promotions hold a higher value compared to their traditional counterparts. That is because the processing costs of cryptos are lower than the conventional banking methods. In addition, Tether gambling sites allow you to claim these lucrative offers without being afraid of volatility, as we have mentioned above.

✔️ Low Fees

This currently applies mainly to non-Ethereum USDT transactions. For example, as of September 2023, a TRC-20 payment costs less than a cent. ERC-20 holds much higher fees and lower speed. Be aware that this may soon change, as upgrades to Ethereum are due.

The appearance of new USDT channels is another perk. Tether bookies can easily add other existing Tether networks with low fees; this networking is considered a trait of top betting sites.

✔️ Fast Transaction Speed

(As of September 2023). Payments via Tron, Solana and Polygon are settled within just a few seconds. As such, you will find the token in any of our certified instant withdrawal bookmakers. In contrast, ERC-20 transfers need 10-60 minutes.

Currently, the benefits of Ethereum-based transaction is that more merchants accept them and add a layer of safety. All networks we propose are safe but can not reach the levels of Ethereum.

Drawbacks of Tether Gambling

BMB_Thumbs DownSure, Tether eliminates the volatility factor, but it is still a cryptocurrency. You will have to deal with crypto exchanges, specific wallets and weird technical terms. Traditional banking methods are still more user-friendly. A wrong transaction leaves you helpless, usually unable to retrieve lost funds. 

Last but not least, the company behind Tether has been accused multiple times of shady practices, which we will mention in more detail later on. First, let’s see the other main disadvantages of Tether betting.

❌ Offshore Licencing

Offshore regulators license almost all crypto-friendly bookmakers. These licenses are less reliable and may lead to unpleasant situations if a dispute arises. Take that into consideration before opening an account. You should do diligent research before your first deposit. We also recommend checking our approved sportsbook selections above.

❌ Different Networks are Confusing

Many Tethers lie lost in wrong networks, as their incorrect transfer directed them to a dead-end. This is a common rookie mistake that happens a lot with tokens transferred in multiple blockchains. Therefore, be very careful when initiating a Tether payment.

A good way to be on the safe side is to send a small amount to the desired wallet address. Then, if it is successful, you can proceed to the main funds’ transfer without being afraid of a possible mistype or wrong network. In any case, the multiple available networks are a disadvantage for USDT gambling, as it adds another difficulty layer.

❌ More Trustworthy Competitors

As you will see below, Tether faces quite a few accusations for transparency and compliance reasons. The matter even escalated to a legal dispute with the New York Attorney General, but that has been settled.

Many players might feel uneasy trading their hard-earned money with a shady token. There are other alternatives to Tether, which are more transparent and relatively secure. Nevertheless, no one until now has lost any Tether funds due to company issues.

❌ Centralized Cryptocurrency

While Tether relies on decentralized blockchains for transactions, the company behind it is fully centralized. That means that you will have to trust the people behind it. It also goes against the hardcore crypto mentality. Coupled with the shady actions from the people behind it, Tether gambling may be a no-go zone for many users.

Tether Betting - What You Need to Know

BMB_Research IconTether and other cryptocurrencies that maintain a stable value are called ‘stablecoins’. They are usually pegged to the Dollar, but there are options for Euro, Yuan and other common national currencies.

Stablecoins were initially invented to provide a safe port to store crypto capital. Nonetheless, they are now also preferred for their ease of transaction, as USDT transfers are much faster than normal USD ones.

The iGaming industry could not let this opportunity slip of course, as it holds much potential. Despite being a controversial case, Tether is still the most popular stablecoin, and not only it powers a big chunk of the crypto world, but it is also one of the fastest rising bookmakers' payment methods.

The Creation & Controversy of Tether

BMB_Question MarkThe Tether project was first presented in July 2014 with the name of ‘Realcoin’. The name Tether appeared after a rebrand later that year. The first trades began in January 2015, when the exchange ‘Bitfinex’ listed Tether on their platform.

USDT’s first network was the Omni layer based on Bitcoin’s blockchain. Since then, Tether has evolved to be the major stablecoin in terms of market capitalization. There are several controversies with Tether.

First of all, the companies behind USDT and the Bitfinex exchange have a weird relationship, and it is rumored that there are the same people behind these two entities. Secondly, it is unclear whether Tether really backs up every digital token with real US Dollars.

An independent third-party audit has never been completed. Additionally, Tether has been accused of manipulating the price of Bitcoin in late 2017 upwards. However, the most important case was a lawsuit against Tether and Bitfinex filed by New York’s Attorney General in 2019.

The argument was that Bitfinex used Tether’s client reserves to cover up financial losses. There was a settlement in February 2021. Bitfinex had to pay a fine and end all activities, including Tether trading in New York State. Consider this case before initiating your Tether gambling activity.

Tether vs. Bitcoin

BMB_CryptoTether and Bitcoin are two different worlds. They have a different use case and it is unfitting to compare them. Tether is a centralized stablecoin and its primary use is to counter crypto volatility.

Bitcoin is the world’s first cryptocurrency, it leads the crypto market and you can think of it as digital gold. Their main connection is that one of Tether’s networks, the OMNI protocol, is based on Bitcoin.

Kickstart your Tether Betting

BMB_BankrollFirst of all, you need to set up a Tether wallet. You can find online wallets, desktop / mobile choices and offline hardware too. There are quite a few options, and there are no optimal solutions. Do your research in order to choose the best one that suits your needs.

Make also sure that it supports your Tether network of preference to avoid future unpleasant surprises. Next in line is the creation of a crypto exchange account unless you already have one. For USDT, we recommend Binance, Kraken and KuCoin.

Be sure to make all transactions with Tether gambling sites from your personal wallet only. There have been cases where exchanges banned accounts that had direct transactions with crypto sportsbooks and casinos, on to the next steps. Crypto bookie reviews like our Vave review can reveal more on that.

How to Deposit to a USDT Gambling Site

⏩ Buy USDT from the exchange: You can do this by debit card, bank transfer, or different e-wallets. Almost all exchanges trade USDT directly with Dollars, Euros, Pounds and other main traditional currencies.

⏩ Transfer USDT to your wallet: Before depositing to a Tether bookie, you will have to send USDT to your wallet. Find the transfer option, and type in your wallet address. Then you will have to select the transfer network. Check what networks your wallet supports. Also, keep in mind that exchanges may charge additional fees on top of the network ones.

⏩ Deposit USDT to the bookie: Open an account at a Tether bookmaker of your choice. Select the Tether deposit method in the cashier section. A complex combination of characters and numbers will appear.

It is the address to which you will have to send your USDT to fund your account. Open your wallet and find the transfer option. It would be better to copy-paste the address that shows up in the bookie to avoid typing mistakes. Again, check the available USDT networks that the bookie offers, and send your funds appropriately. A mistake here will make you lose the deposit, so be very careful.

How to Withdraw from a USDT Bookmaker

⏩ Transfer the winnings to your wallet: After a big win, you will probably want to enjoy your newly acquired funds. Go to the cashier section and select Tether as the withdrawal option. A tab will appear, in which you will have to type in your personal USDT wallet address. Again, be sure to select the correct network. Confirm your request.

⏩ Cash-out your winnings: After the bookmaker authorizes your withdrawal request, you will receive your funds in a few seconds to a few hours, depending on the network you selected. When you receive them in your wallet, you can transfer them to the exchange again for other cryptos or Fiat currencies.

Keep in mind that some exchanges offer debit cards. This gives you the option to use your winnings immediately, without moving them to a bank or another payment service.

Is Tether Gambling Safe

BMB_SecuritySure, Tether is surrounded by different controversies and you should be well aware of them. Nevertheless, if you dig enough in most cryptocurrencies, you will find questionable facts and people claiming that they are scams.

The reality is that no one has ever lost Tether capital, so if you are looking into gambling with stablecoins, it is still the safest option. Moreover, the networks in which Tether transactions are settled are secure and robust. You will face no issues whatsoever.

There will be no legal issues, too, unless you live in New York State, in which USDT is banned. If you can access online gambling sites legally, Tether gambling sites will be legal too. Additionally, your USDT gambling winnings are not taxed automatically.

Fiscal authorities do not directly access your crypto transactions. As good as that may sound, we do not endorse tax fraud. Be aware that a thorough investigation can trace even anonymous transactions back to your person.

Is Tether Gambling Worth it

BMB_Book SpyThe reality is that crypto-friendly gambling sites are on the rise. An important factor is that the low cost of cryptocurrency transactions is too good for bookies to ignore. Moreover, ongoing country-specific regulations are eliminating many options for bettors, as many sportsbooks become unavailable.

Crypto bookmakers are the perfect counter for this issue, as they mostly manage to circumvent the restrictions. Serious players should consider crypto betting in order to maintain their edge by having multiple options available.

My opinion is that Tether betting sites are the perfect solution. The fewer geographic restrictions are not the only reason. You will have access to all the benefits of cryptos without worrying about the fluctuation of your bankroll’s value.

Also, by choosing USDT gambling, you will not have to dive deep into the crypto world. In contrast to most crypto projects, Tether has a pretty simple target. Maintaining a stable price. Provided that you are not discouraged by the controversies surrounding it, I believe that you should give it a try.

FAQ
Q: Is Usdt same as tether?

USDT is the ticker used in exchanges for Tether, like BTC for Bitcoin. ‘Tether limited’ is the name of the centralized company behind it.

Q: How does tether stay on $1?

Initially, the Tether company held 1 Dollar for each USDT, fully backing them with cash equivalent. However, Tether now claims that the backing includes collaterals like assets and loans receivables, not only cash reserves.

Q: Is Tether safe?

Despite all controversies surrounding Tether, no end-user ever suffered losses. It is the most popular stablecoin. However, if you do not feel comfortable holding Tether capital, many other supposedly safer options are available.

Q: Is Tether gambling legal?

Yes, Tether transactions and gambling are only banned in New York State. If you can legally gamble with other currencies, you may as well do it with USDT.

Q: How do I buy Tether?

Most popular exchanges offer Tether trading. You can buy Tether by setting up an exchange account and buying it there with a FIAT currency of your choice.

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