USDT the top crypto option for casino players
New research has found that USDT is the top cryptocurrency option at online casinos.
According to a leading crypto casino site, the three main cryptocurrencies that are used for online gambling are USDT, Bitcoin and Ethereum.
The Cloudbet research found that even though more than 30 different cryptocurrencies are provided by the platform, USDT made up nearly half (47.3 per cent) of its total turnover.
Bitcoin was responsible for more than a quarter (28.9 per cent) share of the turnover at the crypto casino, with the top three rounded out by Ethereum at 11.5 per cent.
“After nearly a decade in the space, we’ve seen the market mature,” a spokesperson said. “Stability is the watchword now for the lion’s share of crypto gamblers.”
While new cryptocurrencies are emerging on a regular basis, the Cloudbet research shows that more traditional options are still preferred by the majority of players at the crypto casino.
Solana (SOL), Litecoin (LTC), Ripple (XRP), and Tron (TRX) are starting to get a lot more popular for use at crypto casinos, but they are lagging behind the likes of USDT and Bitcoin.
The crypto casino’s spokesperson added: “After looking over the data, it was one of those moments where you’re just like, ‘Crypto gamblers. They’re just like us.’ The same concerns about volatility or price fluctuations bond every crypto holder, whether you bet or not.”
Cloudbet recently announced the launch of its innovative rewards program, where USDT can be earned by players without any rollover restrictions being included in the promotion.
Now, the Cloudbet crypto casino has extended the scheme so that players can be paid out their rewards in a cryptocurrency option of their choice.
“We’re interested to see how users will take advantage of the versatility of the rewards program,” added a Cloudbet spokesperson.
“While the first iteration has clearly been a hit with our users and has accelerated the shift toward this next quarter, we might find that users start betting with PONKE or other memecoins as a way to lean into alternative crypto projects, especially if they’re bullish on their potential.”
Cloudbet claims to be the first licensed Bitcoin casino, having been launched over a decade ago. As well as a range of top casino games, Cloudbet also provides crypto sports betting.
The crypto casino – which also accepts Visa, Mastercard and Google Pay in its cashier – is licensed by Curaçao eGaming under the company name Halcyon Super Holdings.
