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Stablecoin Casinos

Bet at crypto casinos without the price volatility

Since the birth of cryptocurrency and mania that followed, there has been a need for an escape to price stability. This stability is now available to casino players the world over!

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How to sign-up to a stablecoin casino

How to sign-up to a stablecoin casino
  1. Choose a stablecoin

    Not all stablecoins are equal. USDC, for example, is governed by the CENTRE network and transactions can be blocked or addresses blacklisted. DAI, on the other hand, is largely decentralized with no authority to block or censor a transaction. Tether (USDT), is centralized like USDC but is more liberal. Depending on how you wish to gamble, deciding on the best stablecoin to use is the first important step.

  2. Register at a casino

    The casinos on this page all accept stablecoins in one form or another. Each casino typically features a welcome offer that is displayed alongside their review below. The best stablecoin casino is one that is available in your country, offers a generous sign-up bonus and provides features that are important to you such as anonymity. The list of games on offer are also an important factor. Do you want to play a dice game or a more traditional casino slot?

  3. Deposit your stablecoin

    The vast majority of stablecoins exist on the Ethereum network, which makes life easy for users who are already familiar with Ethereum casinos. Whether its USDT, PAX or DAI, a deposit can be made in an identical way - you just need to check that your casino accepts the Ethereum token that you're looking to deposit.

  4. Win and withdraw!

    With your casino bankroll now loaded with stablecoins, you can start spin, roll and flip your way to victory! Stablecoin casinos have the advantage of denominating all your activity in fiat currency, so it's a lot easier to track you wins and losses in terms that you're familiar with. If you're looking to bag a bonus, be sure to meet the promotion's wagering requirements before attempting to withdraw.

New Stablecoin Casinos

There is no denying that stablecoins are the future of online gambling. These cryptocurrencies inherit all of the benefits of coins like Bitcoin and Ethereum (privacy, speed and accessibility) but have a major advantage in their price stability. This means that you can use crypto to play at any of these new stablecoin casinos without worrying whether your balance will be higher or lower before even placing a bet! Our team of experts spend hours each week looking for the latest and greatest casinos. Looking for somewhere to bet with a stablecoin? You are most definitely in the right place!

Stablecoin Casino Date Added Rating Review
Forest.Bet 03 Sep 2020 70 Read More
Rolletto 28 Aug 2020 79 Read More
Fairspin Casino 21 Jul 2020 Read More
RichPrize Casino 03 Jul 2020 77 Read More
TrustDice 04 Jun 2020 92 Read More

Top USDT Casinos September, 2020

Tether (USDT) is the largest stablecoin in circulation today and Tether casinos are some of the most prominent. Its market cap and volume vastly exceeds all other stable currencies and has started to be adopted by Bitcoin casinos. This list will be added to as more casinos come on board.

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Top DAI Casinos September, 2020

DAI is a stablecoin issued by MakerDAO on the Ethereum blockchain. The cryptocurrency is fully backed by collateral and uses some clever market mechanics to ensure a stable price. This cryptocurrency is most sought after for gamblers due to its privacy, however it does not currently have the same liquidity as other stablecoins like USDT or USDC. The full list of DAI casinos is limited when compared to other stable cryptocurrencies, however that is likely to change in the future.

We are keeping a close eye on developments in the stablecoin space and will update this page the moment more casinos become available.

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Top USDC Casinos September, 2020

USD Coin (USDC) was launched in partnership between Circle.com and Coinbase. The cryptocurrency has been widely adopted among users and is fast becoming a currency of choice for mainstream crypto gambling. Check out our full list of USDC casinos and start betting with one of the most popular stablecoins!

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Stablecoin Casinos
Table of Contents

Skip ahead

  1. Introduction
  2. Tether (USDT) Casinos
  3. DAI Casinos
  4. USDC Casinos
  5. PAX Casinos
  6. Stablecoin Betting Guide
  7. What are Stablecoin Casinos?
  8. The Stablecoin Ecosystem
  9. How do Stablecoins Work?
  10. Closing Thoughts
  11. Frequently Asked Questions

Stablecoin Casinos
Stablecoin Betting Guide

Stablecoins offer that stability to the marketplace as it is a cryptocurrency that is secured to a stable asset or a fiat currency.  A great example of this is MakerDAO’s DAI, a collateralized Stablecoin that is backed by ETH. MakerDAO and the DAI credit system is the first decentralized autonomous organization to manage the price stability of a stablecoin. As a signal to validate their effort, VC firm a16z recently invested $15 million into MakerDAO from their $300 million crypto fund.

What are stablecoin casinos?

While many cryptocurrency-based online casinos are available for gamblers to enjoy, with them also comes the volatility that has been long associated with the cryptocurrency landscape.

There are currently no Stablecoin-based casinos, however, with the introduction of the DAI and others, there are sure to be a stream of Stablecoin-based online casinos launching within the next 12 months, as well as current online casinos starting to accept Stablecoin deposits.

Stablecoins present gamblers with a more manageable token that is valued on a 1:1 ratio with a fiat currency like USD or GBP.  This makes play easier for newcomers and experienced players alike.  There will be no need for complicated calculations and conversions to local fiat currency. And most importantly, funds will not be subjected to extreme fluctuations during casino play.

Along with the more user-friendly aspect, these coins will also offer all the same advantages of cryptocurrency that are so attractive to online gamblers.  These include security, anonymity, low transaction fees, as well as being free of border regulations and restrictions.

Stablecoin casinos may well be the next major step in this ever-evolving industry.

The Stablecoin Ecosystem

There are a few Stablecoins currently used in the cryptocurrency gambling space. Each of them offers a unique take on a Stablecoin but all offering the promise of fiat price stability. The list of Stablecoins includes:

  • Tether (USDT)
  • US Dollar Coin (USDC)
  • Gemini USD (GUSD)
  • DAI
  • Paxos Standard (PAX)

Many more stablecoins are currently in development or already exist but do no feature on this page. The following stablecoins are among the most popular for gambling.

Tether

Founded in November 2015, Tether is a Stablecoin that ‘tethers’ the price of a token to the USD (Tether’s currency ticker is USDT).  USDT is 1 to 1 backed to USD reserves.

This 1 to 1 backing would be fine, however there have been some doubts in the marketplace regarding whether Tether is fully backed by the US Dollar, and if they have been thoroughly audited in this regard.  1 coin is equal to 1 US Dollar, according to their white paper, however, of late the coin has been valued at 95/96 US cents leading to speculation that their ties with the greenback may be a lot loser than originally believed.

Tether currently have a 20% market share of the transactions taking place on the blockchain currency platform.  Tether’s incredible success has been due to the fact that it is a direct representation of the US Dollar but can be transacted in a similar way to Bitcoin.

By settling community criticism regarding their supposed lack of transparency will be the way for Tether to maintain its market dominance, however the emergence of more and more Stablecoins may will be the undoing of Tether.

USDC

USDC is a Stablecoin by Circle that was released in September 2018. Co-founders Sean Neville and Jeremy Allaire set out to create a Stablecoin that would be a means of tokenizing U.S. Dollars to transfer value on to public blockchains easily. USDC was built as an ERC-20 token to operate seamlessly on the Ethereum blockchain.

Those wanting to enroll in the service could deposit fiat currency from traditional bank accounts, and convert it into coins that will be able to be used anywhere in the digital sphere.  Just as easily tokens can be cashed and the money deposited into a bank account. USDC’s biggest achievement was in its listing on the world’s largest exchange, Coinbase.com. The partnership between Coinbase and Circle is likely to propel this stablecoin to become one of the most used on the market.

USDC was developed with the assistance of the company’s CENTRE consortium and is the first Stablecoin they have released. Plans to release a coin tied to GBP, EUR and JPY have been hinted at.

At launch, the token will be available on Poloniex, as well as OKEx, DigiFinex, CoinEx, KuCoin, Coinplug, and XDA EX. Unlike Tether, USDC will release public audits, and reserves will be held across multiple different USDC issuers to help decentralize the token’s fiat backing.

GUSD

Launched in September 2018, by the Winklevoss Twins, GUSD is a Stablecoin that is built on the ERC-20 standard, with the white paper stating that it will be 1-1 pegged to the US Dollar.

Based on the Ethereum blockchain, the GUSD, or Gemini Token, as they have become known, will be regularly audited by a third-party firm to ensure that the tokens produced have dollars to back them.

According to their white paper, Gemini wishes to have a tight control over their token so that they will be able to monitor and upgrade it with new features, resolve vulnerabilities, as well as in a security incident, to be able to pause, block, or reverse token transfers (understandably, these points have caused some backlash in the community).

DAI

Essentially what the team behind the DAI are hoping to achieve is the automated stabilizing of its currency (pegged to 1 USD) by having its issuance backed by collateral. If the price of DAI falls, its supply is reduced to force the price upwards; equally, if the price of the DAI increases, so too does the supply, suppressing the price.

DAI is a decentralized Stablecoin, and its stability in relation to the US Dollar is via MakerDAO, its smart contract platform. Maker uses several factors to keep the coin stable including collateralized debt positions (CDP), incentivized external actors and autonomous feedback mechanisms.  Maker is a highly regarded operation that is strongly backed by Vitalik Buterin, the Ethereum co-founder.

There is no centralized authority or bank that backs the value of the DAI.  This platform cannot be shut down and is not open to third-party scrutiny.  It entirely resides within the Ethereum blockchain using smart contracts and is therefore fully auditable.

DAI can be transferred globally instantly and with minimal fees.  It is not controlled by any person or company, and no government, or any other authority, can shut it down.

Merchants can receive money as if it were a cash payment. There is no need for a third party to be involved.

As the only truly decentralized Stablecoin, there is no chance of losing your funds and for that reason the DAI is pegged to be one of the most successful stablecoins in the market.

How do Stablecoins work?

In a nutshell, a Stablecoin is a cryptocurrency that has a stable price pegged and measured in fiat currency.  It is not tied to a central bank and offers low volatility.  With this comes the ability to use it in the day to day trading.

There are three types of Stablecoins:

  1. Fiat Collateralized – fiat currency is deposited, and coins are released on a 1:1 ratio.  This type of Stablecoin requires third-party auditing and a custodian to oversee issuance and redemption of tokens.
  2. Crypto Collateralized – In this approach, the Stablecoin is over-collateralized to mitigate the volatility of the cryptocurrency market i.e. if the value of the collateral fell too far, positions must be liquidated to ensure a stable price. This method has been used for stablizing the DAI token, however the issue of liquidation has been one of its most criticized points – should a cryptocurrency experience a ‘black swan event’ the Stablecoin too could collapse.
  3. Non-Collateralized – this variation is not backed by anything per say.  It is backed by the belief that the value will hold.  It is completely reliant on the blockchain and its smart contracts to expand and contract the supply of the Stablecoin using algorithms. Mostly like a decentralized bank.

Effective employment of a Stablecoin could maximize the long-term innovation in the crypto sphere and will challenge weak government-issued currencies that have the monopoly today.

Stablecoin Casinos
Closing Thoughts

Gambling with stablecoins is one of the fastest growing markets within the blockchain industry. It is now possible to reap all the privacy and security benefits of Bitcoin but with the stability of US dollars. While stablecoin gambling is very much in its infancy, recent growth in stablecoin trading and use will likely expedite the inclusion of coins like Tether and DAI at crypto casinos. You can be sure to find the latest updates on this page, so check back in the future if you’re looking for new places to bet stable cryptocurrencies!

Stablecoin Casinos
Stablecoin FAQ

Stablecoin FAQ

⚖️  Can I deposit stablecoins at a casino?

There are dozens of stablecoin-accepting casinos in the space. The most popular stablecoin for gambling is USDT, however that is fast being replaced by the decentralized and censorship resistant coin, DAI. View the listings above to find your best stablecoin casino.

⚖️  Are stablecoins only priced in US Dollars?

The most popular stablecoins are price in US dollars, however other fiat currency stablecoins do exist. Currently, USD denominated stablecoins are the only ones in use at online casinos.

⚖️  What are the risks of stablecoins?

While the risk of price fluctuations is low day-to-day, longer-term issues surrounding transparency, legality and regulation may cause unforeseen problems. Different stablecoins carry different risks. For example, USDT is a custodial stablecoin that lacks transparency. Each USDT is backed by $1 USD in the bank, however it came to light in spring 2019 that the company behind USDT, Bitfinex, only has 70% of its USDT backed by deposits.

On the other hand we have stablecoins like DAI, which run in a decentralized manner using smart contracts. With DAI, there are no transparency issues and no room for fraud. However, there is the possibility of smart contract failures which could result in significant disruption.

Last updated by Nick Hawke on June 8, 2020

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About the editor

Nick is the CEO and founder of The Bitcoin Strip and has reviewed and written about Bitcoin casinos, sportsbooks and poker rooms for 9 years. He first entered the Bitcoin gambling market in 2011 following a widespread closure of poker rooms in the US.
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