USDT, also known as Tether, is a stablecoin pegged 1-to-1 to the US dollar. The term “stablecoin refers to cryptocurrency tokens with prices anchored to an asset with less volatility, in this case, the US dollar. Since USDT maintains a perfect 1-to-1 peg, its price always equals $1.
Since volatility is one of the biggest roadblocks to online casinos universally adopting cryptocurrencies, the arrival of stablecoins marked a big revolution. USDT’s insane popularity and the fact that it maintains the same value as the US dollar make it the perfect currency for new online casinos.
Today, there’s no shortage of casinos that accept Tether. Due to their unfamiliarity with digital currencies, punters typically make mistakes when betting with cryptocurrencies. In this article, I’ll show you some of the do’s and don’ts of USDT casinos to guide you when trying out cryptocurrency betting for the first time.
Do’s and Don’t of USDT Casinos
You can maximize your profits when betting with USDT by following these best practices. On the other hand, you can potentially lose money to easily preventable mistakes because you don’t know better. Since we know better, we’ll help you implement the best practices and avoid mistakes by listing the do’s and don’ts of USDT casinos.
1. Use a Trusted Online Casino
One of the quickest ways to lose money online is by playing real-money games at unlicensed online casinos. While online betting has become legal, the government and other regulatory agencies cannot regulate all of them, especially those that use cryptocurrencies like Tether.
The reason is pretty simple: cryptocurrencies don’t use traditional payment processors. So, payments can be anonymous and untraceable, making them the perfect tool for online casino scams. While it would be wrong to assume all crypto casinos are scams, it’s equally dangerous to believe crypto casino scams are nonexistent.
2. Hunt for Exclusive Bonuses and Good Odds
While you should avoid online casino scams, it’s also essential to understand that not all legitimate online casinos are worthwhile. When registering for an online Tether casino, you may want to do your due diligence to confirm you’re getting the best odds possible.
Also, most USDT casinos offer a wide range of bonuses, from deposit bonuses to free spins on specific slot games. While you can’t rely only on incentives from the casino, getting something back for your dedication is so common that it’s almost the industry standard these days.
3. Manage Your Spending
When betting with Tether, you should see it as a real US dollar, as that’s its value. Many punters have issues understanding the monetary value of cryptocurrencies, opening the door to overspending and poor money management practices. However, you shouldn’t have that problem with USDT, as it maintains a perfect peg to the US dollar.
Understanding the value of Tether isn’t all you need to manage your spending when betting at USDT casinos; you also need to implement bankroll management strategies to avoid compulsive spending. Flat betting and the percentage model are popular strategies professional punters use to manage their bankroll when playing at USDT casinos.
4. Bet On Games You Know
Like everything else that requires you to invest real money, you should ensure you understand what’s going on before making the financial commitment. There are hundreds of betting categories, and the chances that you’ll encounter familiar games are closer to 100%.
1. Don’t Chase Losses
Amateur punters tend to engage in “loss-chasing,” which is characterized by betting higher amounts in a betting session to recoup previous losses. It’s common among addicted bettors without a specific bankroll management strategy, but it does more harm than good.
For one, trying to chase losses will only make you lose more money, and since you’re betting higher each time, your losses also grow progressively bigger. The fact that you bet with USDT doesn’t help, as it doesn’t feel quite as valuable as the regular US dollar to most punters. It doesn’t matter how close you think you are to a win; don’t chase losses.
2. Don’t Use Unregulated Casinos
If you can dig deep enough into the abyss of the internet, you’ll find casinos that unlock all the limitations that your country’s betting regulatory agencies put in place. Such online casinos typically only accept cryptocurrencies like USDT or Bitcoin to evade detection.
Unregulated betting platforms may look appealing, but you should generally avoid them. The primary reason is simple: while they may offer you an opportunity to bet without restrictions or limitations, the operators also get complete control over anything that happens with your money or data.
Regulations make it difficult for casinos to run scams, but when you use an unlicensed or unregulated USDT casino, you’re helping them bypass those restrictions to scam you; don’t do that.
Pros and Cons of Betting with USDT
Compared to other crypto tokens like Bitcoin or Ethereum, USDT is generally stable, hence the name “stablecoin.” If you’re looking to bet at a crypto casino with a stable currency that retains its value, you can’t get it better than a stablecoin that maintains a perfect 1-to-1 peg with the US dollar.
2. Transaction Speed
USDT processes transactions in minutes, significantly faster than competitors like Bitcoin and Ethereum. Also, there are no transfer fees for transactions between USDT wallets, which is the majority of what you’ll be doing when using Tether casinos. So, why transact in US dollars and pay exorbitant charges when you can use USDT for free?
3. Great Odds
While USDT casinos are commonplace already, newer ones look to attract more customers by offering better odds, which translates to higher potential earnings. When trying online casino betting, you’ll likely get better odds with Tether casinos than those that accept Bitcoin or Ethereum, for example.
USDT casinos are already commonplace, and if you’re transitioning from traditional online casinos to crypto casinos, Tether is an excellent introductory coin. Since it’s a stablecoin, it retains the same value as the US dollar, thanks to the assets backing each unit. This article explains the dos and don’ts of USDT casinos to help you make the most of your crypto punting experience.