Updated: March 23, 2022
Stablecoin Casinos: The Full Guide to Gambling with Tether, USDC, and More
The world of crypto is extremely new – even Bitcoin hasn’t been around for that long. And, while blockchain-based currencies offer exciting new opportunities for finance, they also have one major problem:
Volatility.
Stablecoins are here to change this.
They are cryptocurrencies that are built to address volatility by pegging their value to another asset, like the US dollar. This makes them much more usable for everyday transactions.
Wherever you spend crypto, stablecoins can help you avoid price swings.
Because stablecoins stay around the same value, you can use them to make bets without losing money to volatility. This makes them perfect for the gambling industry, which needs to be able to trust its currency.
But which stablecoin to pick – and how do you choose a stablecoin casino to play in?
Our top stablecoin casinos are:
About BC.Game Casino
We ran a 100% anonymous play test for this BC.Game review. Our findings? More than promising! BC.Game offers unique bonuses, including juicy BC.Game shitcodes. And you’ll never be bored. With a huge game selection and amazing social features, this casino is fun central. Plus, we love their commitment to fair gambling – especially the in-house provably fair games.
Overview
Websitebc.game
Established 2017
License Curaçao
Bonus Up to 1 BTC (Wheel of Fortune)
Wagering Requirement –
Live Chat Yes
About True Flip
True Flip is a unique blockchain casino. Besides its very own cryptocurrency, it offers original games developed by its own game studio. On top of these exclusive features, True Flip has over 1600 games from some of the world’s biggest brands, which you can play with a large selection of fiat money and cryptos. This is an impressive brand, although it could be improved with the addition of provably fair games and a VIP program.
Overview
Websitetrueflip.io
Established 2017
License Curaçao
Bonus Free spins
Wagering Requirement 1x
No Deposit Bonus Yes
Live Chat Yes
About Cloudbet
Having been around since 2013, Cloudbet is one of the oldest blockchain casinos. Following its establishment, it has grown into one of the leading Bitcoin casino platforms, even though you can now play and deposit with several other cryptos. It’s a very newcomer-friendly website, even offering a blog to introduce you to the world of Bitcoin gambling. Fans of sports can also join the fun: there is a comprehensive sportsbook product.
Overview
Websitecloudbet.com
Established 2013
License Curaçao
Bonus 5 BTC
Wagering Requirement 800 loyalty points per 0.01 BTC
No Deposit Bonus –
Live Chat Yes
Stablecoins and Gambling: In Short
Playing with stablecoins removes volatility from crypto casinos. There are three main reasons to pick USDT or DAI over traditional cryptos:
- Stability – as the name suggests, stablecoins are more ‘solid’, a haven from the sharp swings of other cryptos.
- Reduce risk – with stablecoins, you’re no longer gambling on the bet AND the price of your crypto. You can (theoretically) reduce losses – but also wins.
- Enjoy crypto casino perks – stablecoins are still cryptocurrencies, so you can enjoy all the perks of gambling with crypto like lower house edges.
Our number one stablecoin casino is BC.Game for the awesome game selection, social experience, and the range of cryptos they accept.
About BC.Game Casino
We ran a 100% anonymous play test for this BC.Game review. Our findings? More than promising! BC.Game offers unique bonuses, including juicy BC.Game shitcodes. And you’ll never be bored. With a huge game selection and amazing social features, this casino is fun central. Plus, we love their commitment to fair gambling – especially the in-house provably fair games.
Overview
Websitebc.game
Established 2017
License Curaçao
Bonus Up to 1 BTC (Wheel of Fortune)
Wagering Requirement –
Live Chat Yes
Curious to learn more? Read on…
What Are Stablecoins?
Stablecoins are cryptocurrencies that are attached to a stable asset, usually a fiat currency.
Investors and traders use stablecoins to lock in profits.
When you sell a volatile cryptocurrency for a stablecoin, you know that the stablecoin will maintain its value. You can then keep the stablecoin on the exchange as you prepare for your next trade.
But, stablecoins are useful beyond trading, too.
Stablecoin advantages
The main perk of stablecoins is they help with everyday transactions.
Imagine you wanted to place a $10 bet.
With Bitcoin’s price fluctuations, your $10 might be worth $15 tomorrow. So, most people will simply choose to HODL. The same goes for anything else you buy – pizza (remember the guy who bought ‘za worth millions?), software subscriptions, travel tickets, etc.
With a stablecoin, you don’t have to worry about price fluctuations.
The stablecoin will always be worth the same amount, so you can use it without any fear of losing money. In other words, stablecoins make crypto usable and spendable.
| Traditional Cryptos | Stablecoins | |
| Volatility | Very high | Low |
| Centralization? | Decentralized | Centralized |
| Use | Trading, investments, store of value (for cryptos on an uptrend) | Medium of exchange, store of value (e.g., from trades or bets) |
| Popular coins | BTC, ETH, DOGE | USDT, DAI, BUSD |
Types of Stablecoins
Now that we covered stablecoins as a whole, let’s talk about the diffferent types of stablecoins out there:
Fiat-backed
Fiat-backed stablecoins are cryptocurrencies that are pegged to the value of a traditional currency, like the US dollar. The fiat currency is essentially collateral for the stablecoin’s promise of stored value.
Stablecoin providers keep fiat reserves to maintain the coin’s stability. These reserves are private, but they get regular audits to ensure the custodian is keeping their commitment.
Take Tether (USDT) casinos for example. Tether is pegged to the US dollar, meaning that 1 USDT is always worth 1 US dollar. This means you can gamble with Tether without risking your earnings to volatility.
Tether’s creators also claim there is a 1:1 ratio between USDT and US dollars. For every $1 in existence, they say, there is also 1 USDT.
This has proven to be a controversial claim, but the fact remains that USDT has been much more stable than other cryptocurrencies. If you buy $1-worth of Tether today, the price won’t change tomorrow.
Other fiat-backed stablecoins include USD Coin and Gemini dollar.
Commodity-backed
A commodity-backed stablecoin is a digital currency whose value is pegged to that of a physical commodity like oil or gold.
The idea behind commodity-backed stablecoins is that, as long as there is demand for the physical commodity, the stablecoin will maintain its value. This means you’re exposed to the asset’s value. If you have a gold-backed stablecoin, for example, and the price of gold goes up – so will the price of your coin.
Gold is, in fact, the most common commodity used in stablecoins.
PAX Gold (PAXG) is the best-known example. Every token represents one troy ounce of the London Good Delivery gold bar.
PAXG’s backing company, Paxos, is in charge of the reserve, but they get regular audits. So far, PAXG has been one of the more reliable, less controversial stablecoins.
Cryptocurrency-backed
Cryptocurrency-backed stablecoins are, as the name suggests, stablecoins that are backed by other cryptocurrencies.
Crypto collaterals mean a stablecoin can be decentralized. This removes the need for a central authority (like Tether) to maintain the coin’s peg. It also appeals to blockchain enthusiasts who distrust central institutions on principle.
The most popular cryptocurrency-backed stablecoin is Dai. Dai is pegged to the value of the US dollar, but it’s not backed by fiat currency. Instead, it’s backed by Ether, the native cryptocurrency of the Ethereum blockchain.
To avoid volatility, crypto-backed stablecoins are often over-collateralized. But, even that didn’t help DAI in March 2020. On the infamous Black Thursday two things happened at once:
- ETH’s price crashed.
- The Ethereum network was clogged.
This brought about to a momentary DAI price spike, which (thanks to zero bids auctions) led to over $8 million in losses. Thankfully, the DAI company has learnt its lesson and is now diversifying the collaterals, to include physical assets and fiat currency, too.
Algorithmic
Algorithmic stablecoins are cryptocurrencies that are stabilized by a mathematical formula, as opposed to a collateralized asset.
This is a newer technology, and there are currently only a few algorithmic stablecoins in circulation. Rather than actually owning a collateral, algorithmic stablecoin providers peg the price of that reference asset through mathematical calculations.
While some argue non-backed stablecoins are the future, others are less enthusiastic about them. So far there are very few algorithmic stablecoin projects anyway – and none of them work in crypto casinos.
We’ll be keeping an eye out for the future, though.
Why Gamble with Stablecoins?
Volatility is a huge issue for the gambling industry. Trust is essential, but it’s hard to maintain when your currency can swing in value by 20-30-50% in a day.
With traditional cryptos, you’re gambling on two things:
- The game you’re playing
- The price of the coin
Let’s take two scenarios:
- You place a bet of 0.05 BTC.
At the time, 1 BTC is worth $10,000, so you bet $500. You win and double your money – $1000 worth of BTC, or 0.1 BTC. Unfortunately, when you decide to withdraw your earnings, BTC dips to $4,000 (this actually happened in March 2020). So, your 0.1 BTC is now worth just $400.
Even though you won the bet, you lost $100! - You place that same bet of 0.05 BTC, worth $500 at the time. You win and now have 0.1 BTC.
The next day BTC soars to $20,000. Now, your 0.1 BTC is worth $2000 – you won $1000 extra from the crypto’s upswing.
As you can see, crypto volatility can go both ways. It could benefit you or harm you, but it’s definitely an added risk.
Stablecoins make crypto gambling much more similar to regular betting. You can trust that the stablecoin will maintain its value, so you can focus on the game itself. This makes it much easier to enjoy a relaxing game of poker or blackjack without worrying about doubling your losses.
The Best Stablecoin Casinos
So where do you go to gamble with stablecoins? Here are our top picks:
BC.Game Casino
BC.Game is a new online casino that accepts a range of cryptocurrencies, including stablecoins. They offer an excellent selection of games, including slots, roulette, blackjack, and poker.
BC.Game also has a social aspect that rewards players with bonuses and free spins for participating in the community.
What Stablecoins Are Available?
BC.Game Casino has DAI, Tether, Binance USD (BUSD), and USDC. There are 65+ cryptocurrencies in total.
About BC.Game Casino
We ran a 100% anonymous play test for this BC.Game review. Our findings? More than promising! BC.Game offers unique bonuses, including juicy BC.Game shitcodes. And you’ll never be bored. With a huge game selection and amazing social features, this casino is fun central. Plus, we love their commitment to fair gambling – especially the in-house provably fair games.
Overview
Websitebc.game
Established 2017
License Curaçao
Bonus Up to 1 BTC (Wheel of Fortune)
Wagering Requirement –
Live Chat Yes
True Flip
True Flip is a crypto-forward casino with its own cryptocurrency and a range of stablecoins available, too.
Standout True Flip perks include:
- Over 1600 games
- In-house game development
- Generous cashback (10%) and no-deposit bonus for completing your signup
While we love True Flip’s platform, it ranks second because it lacks provably fair games and the rewards program is underdeveloped.
💰 What Stablecoins Are Available?
True Flip accepts Tether.
About Cloudbet
Having been around since 2013, Cloudbet is one of the oldest blockchain casinos. Following its establishment, it has grown into one of the leading Bitcoin casino platforms, even though you can now play and deposit with several other cryptos. It’s a very newcomer-friendly website, even offering a blog to introduce you to the world of Bitcoin gambling. Fans of sports can also join the fun: there is a comprehensive sportsbook product.
Overview
Websitecloudbet.com
Established 2013
License Curaçao
Bonus 5 BTC
Wagering Requirement 800 loyalty points per 0.01 BTC
No Deposit Bonus –
Live Chat Yes
Cloudbet
Cloudbet is another great choice for crypto gambling. They’re one of the oldest and most well-established cryptocurrency casinos on this list.
The game selection features over 50 providers, a range of live table games, and a comprehensive sportsbook. Cloudbet also has over 1000 slots, as well as a provably fair selection of crypto favorites.
💰 What Stablecoins Are Available?
Cloudbet accepts Binance USD, DAI, PAX Gold, USD Coin, USDP, and Tether.
About Cloudbet
Having been around since 2013, Cloudbet is one of the oldest blockchain casinos. Following its establishment, it has grown into one of the leading Bitcoin casino platforms, even though you can now play and deposit with several other cryptos. It’s a very newcomer-friendly website, even offering a blog to introduce you to the world of Bitcoin gambling. Fans of sports can also join the fun: there is a comprehensive sportsbook product.
Overview
Websitecloudbet.com
Established 2013
License Curaçao
Bonus 5 BTC
Wagering Requirement 800 loyalty points per 0.01 BTC
No Deposit Bonus –
Live Chat Yes
How to Get Started With Stablecoin Casinos?
Playing at stablecoin casinos isn’t that much different than gambling with any other crypto.
- First, you want to set up your wallet.
We recommend MetaMask, because it’s easy to use and secure. It also allows gambling transactions in the Terms & Conditions. - Then, head over to a cryptocurrency exchange.
We love Binance, because they have a large selection of stablecoins and low fees. If you prefer a more beginner-friendly option, Coinbase also has all major stablecoins. - Once on the exchange, you want to deposit fiat and buy your stablecoin.
If you’re wondering which coin to pick, for the time being, Tether is best. Even with the controversy, it’s still the biggest stablecoin out there. - Finally, you want to transfer your stablecoin to MetaMask (don’t keep it on the exchange). From there, make a transaction to your casino of choice.
Wondering which stablecoin casino to pick? Our number one choice remains BC.Game!
Final Thoughts
When it comes to gambling, stablecoins offer a few key advantages over other cryptocurrencies:
- They’re less risky because their value doesn’t fluctuate as much as other cryptocurrencies.
- They’re usable for everyday transactions.
- They’re perfect for gambling, since you don’t have to worry about price swings.
As crypto grows in popularity, so do stablecoin casinos. Big-name players like Cloudbet and ambitious newcomers like BC.Game alike begin to offer them. If you ask us, BC.Game is currently the best casino for stablecoins (and overall).
Did we get it right? Check it out for yourself and let us know by leaving a review.
