Cryptocurrencies that have once been a niche emerging trend have conquered multiple industries in the 2020s, and betting hasn’t become an exception. However, despite all the benefits of Bitcoin, Ethereum, and other digital assets, their volatility remains one of the main concerns in the industry. It’s not a secret that prices can change overnight, and punters depositing via crypto can suffer from unpredictable losses. At this point, stablecoins enter the stage. A more convenient alternative, keeping all the Bitcoin’s benefits, maintains its value, offering the bridge between the flexibility of crypto and the stability of fiat currencies. Many are confident that stablecoins are the future of mobile bookmakers’ operations, so here are some facts supporting this statement.
The Role of Stablecoins in Online Betting
Before dipping into the main benefits of this payment method, players should explore what stablecoins are. In general, they are a type of cryptocurrency designed to maintain stable value, unlike traditional tokens like Bitcoin, which have brought an additional level of uncertainty. Assets such as Tether (USDT) and USD Coin (USDC) are tied to the prices of major world currencies that typically do not experience significant fluctuations.
In online betting, stability is crucial, as punters already accept significant risks when they place their wagers on uncertain outcomes. By using stablecoins, adrenaline seekers can take advantage of the main benefits of blockchain technology, including anonymity and transparency, but still be confident that their bankrolls won’t decrease due to the changes in the crypto market.
Problems with Traditional Payment Systems on Betting Sites
According to statistics, fiat payment options continue to dominate the iGaming market, with online bookmakers offering a vast choice of banking options. These typically include credit and debit cards, digital wallets, mobile payment applications, prepaid vouchers, and other regional alternatives. Modern iGaming companies try to meet all customers’ needs, which forces them to integrate a variety of deposit and withdrawal methods. However, traditional systems still have multiple drawbacks that may affect punters’ experiences:
- Slow transactions. Deposits are mostly instant regardless of the payment system that users choose, but withdrawals can take days or weeks, which irritates people
- High fees. Payment processors and other intermediaries usually charge extra during money transfers, meaning that players will receive lower sums in the long run
- Privacy concerns. Traditional systems require users to complete verifications and monitor user activities to ensure greater control over all operations
In addition to these points, many payment processors are adopting responsible gambling strategies that impose limits on financial transactions. For instance, some institutions prohibit betting-related deposits via their systems, making it impossible for punters to replenish their accounts on bookmaker sites. In this context, cryptocurrencies become a lifesaver, as they have no limitations and aren’t tracked by any regulator worldwide.
Why Stablecoins Are Becoming the Mainstream Solution
The online gambling sector has long been the pioneer in adopting the latest innovations. Modern bookmakers have also become trendsetters in implementing stablecoins into their operations, as they quickly recognized the mutual benefits that the system brings to their activities and customers’ satisfaction levels. This deposit and withdrawal option combines the reliability of fiat currencies with the speed and security of cryptocurrencies, offering a seamless blend between traditional banking and the decentralized world.
Speed and Efficiency
In online sports wagering, speed is everything. A second of delay during deposits and the situation on the field becomes completely the opposite, making the chosen betting strategy irrelevant. Mobile punters are especially concerned about this point: when downloading the app at https://ind1xbet.com/, they anticipate lightning-fast operations and smooth money transfers. As mentioned, stablecoins aren’t controlled by financial institutions, with all transactions held on a secure, decentralized network. This feature allows bettors to make instant deposits and count on quick withdrawals without the need for additional verification procedures.
Borderless Access
Gambling regulations vary across jurisdictions, and in some countries, punters cannot legally access domestic platforms and have limits on overseas websites. Stablecoins are available globally and aren’t controlled by governments, so users from restricted regions can take advantage of USDT or USDC deposits. There are no conversion rates in this case, as they are typically associated with fiat currencies.
Higher Privacy and Security
When depositing via stablecoins, players don’t need to share their financial details with the online bookmaker. This guarantees the anonymity of all transactions, which attracts millions of bettors worldwide. At the same time, cryptocurrencies are powered by innovative security mechanisms, including smart contracts, enhanced encryption protocols, two-factor authentication (2FA), and cryptographic algorithms.
Ease of Integration for Online Sportsbooks
Considering all the benefits of cryptocurrencies, it may seem that implementing the technology is costly for operators, which is far from the case. Bookmakers don’t need to invest a fortune to develop the infrastructure that will smoothly process payments via stablecoins. The procedure is easy, especially when compared to the integration of fiat gateways that require licensing, compliance checks, and banking partnerships in multiple countries. The blockchain’s transparency helps iGaming companies maintain transparency and keep records of their fairness, which can be verified through a secure network.