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Sports betting with Tether: Is it a great idea?

Watching and betting on sports matches is exciting as it makes you feel more involved in the game. Before, people would have to go to land-based bookmakers to place their bets and see if they could guess right and take home huge wins. With the help of technology, you can easily place bets online whenever and wherever you wish to. 

Aside from convenience, there are a lot of advantages that come with betting online. Among them is that some sites accept crypto in their modes of payment. These crypto payment methods are not just about Bitcoin, as there are several other acceptable coins, such as Tether. 

If you haven’t heard about its ability to be used for sports betting, here’s what you have to know about the asset and how you can use it to bet: 

What is Tether?

Tether (USDT), a cryptocurrency first established in 2014, was previously known as Realcoin. A year later, it expanded and gained enormous popularity for what it had to offer. 

Since it was intended to be tied to the US dollar, the value of this stablecoin is fixed at 1:1. This asset was established to make crypto investments more appealing with their constant value regardless of market conditions.

USDT is currently regarded as one of the most popular stablecoins. It also happens to rank high in terms of market capitalisation. It also has promising 24-hour trading, which makes it have a great impact on the digital token industry. 

How the asset works

Every time you deposit money into USDT’s reserve, it generates tokens with the same digital value. This is because the asset was designed to be pegged on a 1:1 ratio to USD. It can be transferred, stored, or traded. The USDT tokens will then be destroyed and taken out of circulation when you redeem them for fiat. 

USDT is accepted on numerous blockchains. It is now accessible on several networks, including the OMG Network, Algorand, Ethereum, and TRON. 

Advantages you can enjoy by betting with Tether

You can enjoy many advantages if you decide to bet on sites that support Tether. If you haven’t tried it yet, here are some of the perks that come with using the said asset: 

  • Low fees

Transaction fees with USDT transactions are cheaper than other coins or fiat. Most sites that accept it don’t charge you anything when making deposits. Meanwhile, withdrawals may only charge you fees worth as much as 0.02% and 0.4%, which is smaller than other crypto assets. Therefore, it’s easier to save money when betting with USDT.

  • Fast transactions 

Tether’s speed is one factor distinguishing it from other coins. Each transaction made with it is completed in a few seconds. This sets it apart from ERC-20 tokens, whose transactions may take a few minutes. It also doesn’t give you any problems with claiming bonuses. 

  • Price stability

Some investors consider volatility a problem since it dictates how much their money will be valued. This is different when you bet with USDT, as it’s always pegged to the US Dollar. Therefore, you can track how much your coins are valued.

  • Enhanced security 

You can expect the same level of security from Bitcoin and Ethereum because Tether is built on blockchain technology. You can also store your assets in encrypted wallets. Upon completing Tether transactions, you won’t have to worry about them being meddled. This is because each transaction is already etched on new blocks that are almost impossible to tamper with. 

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Sports you can bet on with Tether

Upon knowing how the asset works, you should next learn more about what sports you can wager on. Here are some of them: 

  • Football 

The main objective of athletes in this game is to score the most number of goals by kicking the ball across the field. With over 3.5 billion fans worldwide, this is known as the most popular sport. The sport is more interesting because the game is always unpredictable concerning which team will have the ball possession. 

  • Baseball 

This bat and ball sport is a popular choice among punters. Here, squads exchange roles in playing as the batting and fielding teams as they exert their best efforts to score some runs and outrun each other. With the thrill of seeing how the ball will swing, it becomes interesting enough to keep fans on the edge of their seats. 

  • Cricket 

Quite similar to baseball, the teams also take turns to play as the bowling and the batting team in an attempt to score more runs. However, what sets this sport apart is that it comes in three major formats that are played on the mainstream. Namely — Tests, One Day Internationals (ODIs), and Twenty20 (T20s). 

Factors to consider when looking for a great Tether betting site 

Aside from the sports events, you should consider several other factors before signing up with a Tron sports betting site. These are: 

  • Bonuses being offered 

To make the most out of your betting experience, check the available bonus offers of your chosen site before signing up. This way, you will know how to elevate your usual betting experience when you sign up or play regularly. 

There are several types of sports betting bonuses you can encounter online. Among them are welcome bonuses, free bets, and even referral bonuses. To learn more about their specific details, read their terms and conditions. 

  • Other accepted payment methods 

Aside from Tether, check whether or not your preferred site accepts other coins when it comes to payment methods. This way, you will know whether or not what they support matches what you’re comfortable using. 

  • Customer service 

Great customer service is important for betting sites as it determines how a site can attend to your needs and concerns in case there seems to be an issue. One of the factors you can keep an eye out for is if a site has a live chat function that lets you talk to its staff at any time. You can also check reviews about their responsiveness via email. 

  • Reputation 

You need to sign up with a site that values your safety above anything else, like Sportsbet. Make sure to read site reviews to get an idea of how legit a site is. The reviews will also help manage your expectations about a site. You may even want to check the license of a site to feel more secure. 

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How to deposit and withdraw with Tron

Knowing what matters most in a Tron betting site, you should understand how to move funds in and out of your betting account. Here’s how you can do it: 

To deposit 

  1. Log in → If the website you’ve chosen needs verification, take the appropriate actions to complete it.
  2. Go to your account and click deposit → The option to fund your account is frequently shown next to or beneath your account name. Once you see it, click deposit to begin funding your account. 
  3. Select Tether → Click the large T, Tether, or USDT in the payment options drop-down menu. This will prompt you to a page or window where you can easily finish your transaction. 
  4. Input all details → Fill in all relevant data. This includes your wallet address and the amount you wish to deposit. 

To withdraw 

  1. Go to your account and click withdraw → More often than not, this option is beside the deposit option. 
  2. Provide transaction details → Complete all the fields, so the site knows how much money you intend to take from them. Pay close attention to your wallet address, which is the most important detail you must type in.
  3. Double check and confirm → You can’t go back and fix mistakes you’ve made after you’ve finished the transaction. Therefore, double-check and confirm all the info you’ve typed. After you confirm it, wait for it to be reflected on your account after you confirm it.

These are just some facts you would have to remember when planning to bet with Tether on sports betting sites. By understanding how it works and what makes it special, you can be more eager to try it for yourself and see how convenient it is. 

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