As crypto gambling continues its global rise, one stablecoin has emerged as the undisputed leader, Tether (USDT). Despite a growing list of alternatives, including the U.S.-regulated USD Coin (USDC), Tether’s dominance in the gambling sector is unmatched. Backed by its speed, widespread availability, and minimal compliance requirements, USDT has become the go-to currency in online casinos and crypto betting platforms.
The Numbers Behind Tether’s Dominance
Tether currently commands nearly 60% of the global stablecoin market, far outpacing its nearest competitor, USDC, which holds approximately 30.1%. Even newer entrants like USDe are significantly behind, with only 5.5% market share.
Tether Dominance | Credit: Dune
What cements USDT’s dominance isn’t just its volume, but its presence across key blockchains. It is widely used on Tron, BNB Chain, Ethereum, and Polygon, with over 25 million active addresses. Tether’s daily trading volume often exceeds $75 billion, surpassing even Bitcoin (BTC) and Ethereum (ETH), and leaving rival stablecoins far behind in terms of liquidity and reach.
Why Gamblers Choose Tether
In online gambling, price stability is critical. Unlike volatile cryptocurrencies like Bitcoin or Ethereum, USDT maintains a consistent 1:1 peg to the US dollar, allowing players to safely store and wager their funds without worrying about sudden price swings. This predictability makes it easier for users to manage risk and track their bankrolls throughout gameplay.
Speed and cost-efficiency are also key drivers. USDT on Tron (TRC-20) confirms transactions in under a minute with fees typically under $0.10, a major draw for gamblers who demand instant deposits and withdrawals. Such features enable seamless in-game transactions and withdrawals, creating a frictionless gambling experience.
Moreover, Tether’s flexibility around Know-Your-Customer (KYC) protocols provides an additional edge. Unlike USDC, which often requires identity verification in line with U.S. regulations, many USDT platforms allow anonymous use, making it accessible in regions with restricted banking systems or legal grey areas.
USDT vs USDC: A Regulatory Divide
Although USDC offers many of the same technical benefits as Tether, dollar peg, stable price, and blockchain compatibility, it hasn’t seen the same level of adoption in crypto casinos. One major reason is liquidity: with a circulating supply of $120 billion compared to USDC’s $30 billion, Tether simply has more volume and deeper market depth.
Chain compatibility also plays a role. USDT’s presence on Tron and BNB Chain, both known for low fees and fast transaction times. USDC is not natively available on Tron, and while it exists on BNB Chain, it’s only as a bridged asset. This limits its use in environments that require ultra-fast, low-cost transactions.
Furthermore, USDC’s tight alignment with U.S. financial regulations has made it a preferred choice in institutional finance but less attractive to crypto casinos, which often favour flexibility over full compliance.
The Casino Coin of Choice
Tether’s success is not only due to current market conditions but also historical precedence. It has been used in online gambling environments far longer than USDC, establishing trust and familiarity with players and platforms alike. In a space where ease-of-use and anonymity are paramount, Tether has consistently delivered.
Crypto casinos are becoming more mainstream, drawing in users from around the world who seek fast, borderless, and secure payment options. And in that landscape, USDT has proven itself to be the most effective and efficient tool, not just for players, but for platforms looking to reduce overhead and serve global audiences.
Tether Stays on Top
Tether’s continued dominance in the crypto gambling space can be attributed to a blend of liquidity, speed, low fees, and regulatory leniency. While USDC may appeal to institutions and regulators, Tether remains the practical choice for the fast-moving, high-volume world of online gambling. As crypto casinos expand, USDT’s role as the de facto stablecoin of the sector looks firmly secured.
