With the increasing popularity of stablecoins like Dai, you can discover a more secure and reliable way to enjoy your favorite casino games.
In this article, we’ll:
- Define Dai and its perks
- Explore the top Dai casinos
- Show you how to get started with Dai gambling
- Reveal the main disadvantages.
Let’s get to it!
Understanding Dai
At its core, Dai is an Ethereum-based stablecoin, boasting a value soft-pegged to the U.S. dollar. Unlike its more volatile counterparts, Dai achieves stability through a unique collateralization process involving a mix of cryptocurrencies.
Dai can be considered one of the most private stablecoins since it lives on the Ethereum blockchain and doesn’t require KYC processes.
Here’s where the magic happens – every time new Dai is minted, a variety of cryptocurrencies are deposited into smart-contract vaults, creating a secure foundation for its value.
But what truly sets Dai apart is its decentralized genesis.
Dai operates under the governance of MakerDAO and Maker Protocol, giving the community a voice in its evolution.
The Maker Protocol facilitates the issuance of new tokens and oversees the overall functionality of Dai, making it a collaborative rather than a proprietary venture.
Currently holding the position of the third-largest stablecoin (#1 being Tether and #2 USDC), Dai’s popularity is a testament to its unique features.
So, to conclude, why should you use Dai in online casinos?
- Stability: Dai’s primary allure lies in its soft peg to the USD. This provides you with a reliable unit of value amid the wild price swings often associated with other cryptocurrencies.
- Decentralized: Dai’s fate is guided by a decentralized autonomous organization (DAO) via a software protocol. Every token issuance and burning event is transparently managed and recorded by Ethereum-powered smart contracts. This not only ensures a high level of transparency but also mitigates the risks associated with centralized control, reducing the potential for corruption or manipulation.
Best Dai Casinos
At the beginning of the article, you can see the whole list of Dai casinos that are safe to play at. However, some platforms offer more advanced features, better bonuses, or overall user experience.
Here’s a detailed view of Dai casinos that we think are the top performers:
BC.Game
Key Facts:
- Founded: 2017
- License: Curacao
- Welcome bonus: up to 360% match deposit bonus
- Sports betting: Yes
- Review: BC.Game
BC.Game stands out with a plethora of enticing features and a strong emphasis on rewarding its players.
For example, they have a warm welcome with a generous four-part deposit match bonus. Plus, BC.Game’s Lucky Spin Wheel introduces a unique twist to bonuses, offering a depositless chance to win prizes—an absolute favorite for us. Beyond traditional bonuses, they keep the excitement alive with quests, tournaments, and lucrative rakebacks.
Now, what about games?
As far as we know, they currently have a staggering collection of over 8,600 casino games. BC.Game constantly elevates its live casino games and is committed to fairness with more than 30 in-house provably fair games, including classics like Baccarat, Dice, and Keno.
What’s more, BC.Game places a premium on user privacy, as it does not conduct KYC checks during registration. You can register, deposit, and dive into the gaming action without the need for personal information—just a username and password. However, during cashout KYC may be requested (especially if we’re talking about large sums).
To top it off, BC.Game supports over 90 different cryptocurrencies – plenty of options for everyone.
Stake
Key Facts:
- Founded: 2017
- License: Curacao
- Welcome bonus: No
- Sports betting: Yes
- Review: Stake Casino
Stake stands tall as a prominent crypto casino and sportsbook. And here’s why:
They have a lightning-fast registration, taking a mere 60 seconds to get you into the action. Beyond the speedy signup, Stake offers an extensive array of games, from the classics like Plinko and Crash to the ever-popular slots (check out Agents of Destiny, one of our favorite slot games) and game shows.
While bidding farewell to the traditional welcome bonus, Stake offers an opportunity to snag a slice of the daily $100,000 prize pool. Plus, they have dozens of ongoing promotions for casino and sports.
And, Stake caters not only to Dai enthusiasts but also accommodates other stablecoins like Tether, alongside a variety of cryptocurrencies such as BTC, ETH, DOGE, and more.
From the downside, if you’re looking for an anonymous Dai casino, then Stake might not be your fit. A KYC check is needed when depositing and withdrawing funds.
All in all, Stake is our favorite casino for a reason and proves to be a dynamic hub for crypto gaming enthusiasts seeking both variety and excitement.
Cloudbet
Key Facts:
- Founded: 2013
- License: Curacao
- Welcome bonus: up to 50,000 DAI (5 BTC)
- Sports betting: Yes
- Review: Cloudbet
Cloudbet, a stalwart in the blockchain casino scene since 2013, has earned its reputation as one of the pioneers in the industry.
They greet their players with a warm welcome – a generous 100% match deposit bonus of up to 50,000 DAI (equivaöent to 5 BTC). This is, hands down, the biggest welcome bonus we’ve seen.
Besides their generous offer, they also host over 3,000 games developed by 40+ providers, catering to diverse preferences. For example, Cloudbet introduces an arcade-inspired provably fair games section featuring beloved classics like Plinko, Keno, and Mines. You can verify the fairness of each game by enjoying impressive return-to-player (RTP) rates ranging from 97% to 99%.
But casino games are not the only option.
They also offer virtual sports, a comprehensive sportsbook, and eSports betting, where Cloudbet earns its stripes as a preferred bookie.
But wait, there’s more.
Another standout feature of Cloudbet is its swift and seamless deposit process. The funds are in your account in an average of five minutes.
However, it’s crucial to note that, like many previous casinos on this list, Cloudbet also requires a KYC check when requesting the first withdrawal to ensure a secure and compliant user experience.
How to Play with Dai?
So, ready to roll the dice with Dai at your favorite casino, but you’re not quite sure where to start? Here’s a step-by-step guide for you to follow:
- Create a cryptocurrency wallet that supports Dai.
- Purchase Dai through a reliable exchange platform (or via on-site exchange if the casino has it) and transfer it to your wallet.
- Set up an account with a Dai-friendly casino. You can trust that all casinos on our list are secure and reputable (you can have a look at our review process and see how we exactly evaluate different platforms).
- Proceed to make a deposit by transferring Dai from your wallet to the casino account. Also, make sure to take advantage of the welcome bonuses.
- Now, with the funds in place, your gaming adventure can begin. Navigate the casino’s interface, explore a plethora of games, and find your favorites.
Risks and Challenges
Despite its stability pegged to the US dollar, Dai is still not as widely accepted in online casinos as platforms primarily cater to more established cryptocurrencies like Bitcoin, Litecoin, and Ethereum.
Moreover, the stable 1:1 exchange rate with the US dollar, while providing stability, eliminates the opportunity to capitalize on market volatility for potential gains.
So, unlike some more volatile cryptos, Dai’s stable value minimizes the speculative aspect that some players might find appealing in online gambling.
Conclusion
To sum up, Dai’s stable value and decentralized nature contribute to its unique appeal, offering a promising alternative for more popular (but also volatile) cryptos to use for online gambling.
Here are again our top 3 Dai casinos: