Stablecoin betting: Enjoy worry-free and stable bettingSports and Crypto Betting Insights - Sportsbet Blog

Stablecoin betting: Enjoy worry-free and stable betting

Stablecoin betting: Enjoy worry-free and stable betting

In recent years, stablecoins have become a popular alternative to other coins such as Bitcoin (BTC) and Ethereum (ETH). These digital assets are created to maintain a stable value as they are pegged to a fiat currency such as the US dollar.

One of the leading industries wherein the use of stablecoins became abundant is sports betting. Many renowned online sportsbooks such as Sportsbet.io now accept stablecoins as one of their payment methods to give sports punters fast and convenient transactions. With stablecoins’ nature, you don’t have to worry about huge fluctuations in the value of your wagers.

Wondering how stablecoin betting works? To get you started, here’s a stablecoin betting guide:

Why gamble with stablecoins?

Many sports punters believe that stablecoins are a more efficient payment option for sports betting because of their wide range of benefits. For punters who are still new to how stablecoins work and their perks, betting with stablecoin can be overwhelming. To give you an idea of why using stablecoins for sports betting is a smart move, here are some reasons why:

  • Stability → Stablecoins' value is pegged to the US dollar. This stability shields you from the price swings that other coins experience. When you use stablecoins for sports betting, you don't have to worry about losing the value of your asset to sudden crypto market fluctuations.

  • Privacy → Most stablecoins offer the option of shielded transactions. They use advanced cryptography to hide transaction details, including the sender and recipient addresses, transaction amounts, and other metadata.

  • Transparent → Stablecoins are built on blockchain technology which guarantees transparency. This assures you that all of your bets and payouts are handled fairly and without any tampering.

  • Decentralised → Since most stablecoins are developed on a decentralised network, this means they are not controlled by any institution. With this, rest assured that your transactions are secured and highly resistant to fraud.

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Top stablecoins for online betting

What makes stablecoin sports betting even more convenient is the wide selection of stablecoins to choose from. Each type of stablecoin features different uses and benefits to cater to all types of punters.

For a hassle-free and worthwhile sports betting experience, it’s crucial to choose a type of stablecoin that suits your needs. Some of the top stablecoins you can consider for online betting include:

Tether (USDT)

USDT is one of the most popular types of stablecoins that is pegged to the US dollar and is widely accepted on many renowned betting platforms such as Sportsbet.io. It has a high trading volume and is also one of the most liquid stablecoins, making it easy to deposit and withdraw.

Paxos Standard (PAX)

PAX is a digital token that is well-known among investors and punters. It is created by Paxos, a company that’s regulated by the New York State Department of Financial Services (NYDFS). With this, rest assured that PAX is subject to the same requirements and regulations as other financial institutions, which guarantees the utmost security.

Dai (DAI)

DAI is a decentralised stablecoin with a value that’s pegged to the US dollar through the use of smart contracts. Unlike other stablecoins that rely on centralised entities to hold reserves and maintain the peg to the US dollar, DAI’s value is maintained through smart contracts.

Smart contracts are programs stored in the blockchain ecosystem. They are self-executing contracts that contain the terms of agreement between the buyer and the seller.

TrueUSD (TUSD)

TUSD is one of the top stablecoins that is created to maintain a 1:1 value that’s pegged to the US Dollar. The coin is issued by TrustToken, a platform that specializes in creating tokenised assets.

TrustToken uses third-party auditors to verify that the US dollars that back TUSD are held in escrow accounts that are regularly audited and fully collateralised.

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How to bet using stablecoins at Sportsbet.io

Sportsbet.io is one of the top licensed online bookmakers that accept a variety of stablecoins to offer players a crypto payment option that has a stable value, low cost, and fast transactions.

Having a worthwhile stablecoin betting experience at the site is possible with just a few clicks. To start, follow these simple steps:

On the upper right corner of the site, click the register button. Create an account by providing the necessary information or by connecting the following to your Sportsbet.io account:

  • Facebook

  • Twitter

  • Line

  • Telegram

  • Google

  • MetaMask

Buying stablecoins at the site is not possible but you can quickly deposit USDT using MetaMask. You can also buy other coins through the following crypto exchanges:

  • Onramper

  • Blockfinex

  • Binance

  • Onramp

After depositing USDT to your Sportsbet.io account, you can now start your stablecoin betting by going to the left corner of the page and clicking on the sports section.

At Sportsbet.io, you will not only find a variety of popular sports to bet on but also big sports events such as the FIFA World Cup and NBA Finals.

To boost your chances of winning big, Sportsbet.io offers different promotions that you can take advantage of to make your stablecoin betting more worthwhile. Some of the site’s popular promotions include:

  • Price Boost

  • Super Boost

  • Multibet Multiplier

Experience hassle-free betting using stablecoins at Sportsbet.io

If you are looking for a renowned online bookmaker that will cater to all your stablecoin betting needs, Sportsbet.io is the right place for you. The site also offers the most generous bonuses and promotions that can help you bet more without overspending.

What makes it even better is that you can bet on a plethora of popular sports betting options including:

  • Soccer

  • Basketball

  • Baseball

  • Tennis

  • Horse racing

  • Esports

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Frequently asked questions

Know more about stablecoin betting and its benefits with these frequently asked questions:

How safe are stablecoins?

Stablecoins are designed to maintain stable value and are backed by fiat currencies, making them one of the safest payment options available.

Is betting with stablecoins safe?

Yes. Since stablecoins are created to maintain a stable value relative to a native asset, they are a safe option against the volatile nature of the crypto world.

Why should I buy stablecoins?

If you are looking for a coin that is resistant to price fluctuations, buying stablecoins is your best bet.

DISCLAIMER

The information provided by the blog above on Sportsbet.io is for general information purposes only. All information on the Site is provided in good faith, however we make no representation, warranty, or guarantee of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, or completeness of any information or betting tips on the Site.

Sharon Kariwo10 Aug 2023

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