1. 12-05-18 03:11 PM #1
    JeremyLing
    JeremyLing's Avatar Become A Pro!
    Join Date: 11-16-18
    Posts: 11
    Betpoints: 72

    Usdt/usdc

    Perhaps this has been covered before, but I have seen many issues with using BTC as deposit/payout method, mainly having to do with bitcoin's volaility and/or customers complaining about unfair conversion rate during the entire process of depositing/withdrawing.

    Why don't sportsbooks start using USDT/USDC as deposit/payout method to avoid the hassle?
    Reply With Quote Reply With Quote
  2. 12-05-18 04:14 PM #2
    bitcoinLuke
    bitcoinLuke's Avatar Become A Pro!
    Join Date: 05-12-17
    Posts: 390
    Betpoints: 1336

    Bookmaker does
    Reply With Quote Reply With Quote
  3. 12-05-18 05:13 PM #3
    Shifty
    Shifty's Avatar Become A Pro!
    Join Date: 08-10-08
    Posts: 547
    Betpoints: 7997

    Quote Originally Posted by bitcoinLuke View Post
    Bookmaker does
    Interesting they take USDT. The USDC user agreement specifically says not to be used for illegal gambling.
    Reply With Quote Reply With Quote
  4. 12-05-18 05:28 PM #4
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,757
    Betpoints: 9225

    Quote Originally Posted by Shifty View Post

    Interesting they take USDT. The USDC user agreement specifically says not to be used for illegal gambling.
    Who said BM is illegal gambling?

    Certainly not any law where they are located!
    Reply With Quote Reply With Quote
  5. 12-05-18 05:48 PM #5
    Shifty
    Shifty's Avatar Become A Pro!
    Join Date: 08-10-08
    Posts: 547
    Betpoints: 7997

    Quote Originally Posted by Optional View Post
    Who said BM is illegal gambling?

    Certainly not any law where they are located!
    Well, Uncle Sam says it's illegal. Maybe it's ok to use it from other countries
    Reply With Quote Reply With Quote
  6. 12-05-18 06:10 PM #6
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,757
    Betpoints: 9225

    Quote Originally Posted by Shifty View Post

    Well, Uncle Sam says it's illegal. Maybe it's ok to use it from other countries
    Does it really say "illegal gambling" in the terms?

    And I'm not certain it's even illegal for you bet at BM in many states. Just illegal to facilitate money transfers for it.
    Reply With Quote Reply With Quote
  7. 12-05-18 06:51 PM #7
    Shifty
    Shifty's Avatar Become A Pro!
    Join Date: 08-10-08
    Posts: 547
    Betpoints: 7997

    Quote Originally Posted by Optional View Post
    Does it really say "illegal gambling" in the terms?

    And I'm not certain it's even illegal for you bet at BM in many states. Just illegal to facilitate money transfers for it.
    The idiots at USDC put "illegal gambling" in the same sentence with fraud, blackmail, extortion, ramsoming and terrorism financing. https://support.usdc.circle.com/hc/e...User-Agreement
    Reply With Quote Reply With Quote
  8. 12-05-18 08:18 PM #8
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,757
    Betpoints: 9225

    I guess they couldn't bring themselves to ban gambling use but wanted to make a bit of a show of it?

    There is some forms of obvious illegal gambling I suppose. But tough to call a sportsbook operating in a legal jurisdiction illegal gambling if pushed to in a court I'd guess.
    Reply With Quote Reply With Quote
  9. 12-05-18 11:19 PM #9
    xKMACKx
    xKMACKx's Avatar Become A Pro!
    Join Date: 11-15-08
    Posts: 1,274
    Betpoints: 8449

    You realize that USDT was created by an exchange to keep the price of bitcoin propped up, right? The price could go to nothing overnight. That's why.

    https://cryptovest.com/news/us-doj-l...oin-btc-crash/
    https://cryptocoinspy.com/tether-usd...-from-its-faq/
    Reply With Quote Reply With Quote
  10. 12-06-18 02:23 PM #10
    4nic8ing
    4nic8ing's Avatar Become A Pro!
    Join Date: 03-19-08
    Posts: 94
    Betpoints: 4805

    [QUOTE=xKMACKx;28225655]You realize that USDT was created by an exchange to keep the price of bitcoin propped up, right? The price could go to nothing overnight. That's why./QUOTE]

    Bitfinexed is that you??

    Just kidding. I agree with you that using Tether would be a horrible idea for the books.
    Reply With Quote Reply With Quote
  11. 12-09-18 07:35 PM #11
    qsgsg
    qsgsg's Avatar Become A Pro!
    Join Date: 07-14-18
    Posts: 106
    Betpoints: 958

    USDT seems to be lying about their reserves. Avoid them like a plague.
    Reply With Quote Reply With Quote
  12. 12-09-18 07:44 PM #12
    milwaukee mike
    milwaukee mike's Avatar SBR PRO
    Join Date: 08-22-07
    Posts: 26,906
    Betpoints: 7585

    Quote Originally Posted by Optional View Post
    Does it really say "illegal gambling" in the terms?

    And I'm not certain it's even illegal for you bet at BM in many states. Just illegal to facilitate money transfers for it.
    i was told by someone who would know, that it's not illegal to place bets online in the states... taking those bets might be illegal though

    if gambling online is illegal then why hasn't one single person ever been prosecuted for it? holds about as much water as those stupid laws like it being illegal to put an ice cream cone in your pocket in georgia on a sunday
    Reply With Quote Reply With Quote
  13. 12-09-18 09:38 PM #13
    Shifty
    Shifty's Avatar Become A Pro!
    Join Date: 08-10-08
    Posts: 547
    Betpoints: 7997

    Quote Originally Posted by milwaukee mike View Post
    i was told by someone who would know, that it's not illegal to place bets online in the states... taking those bets might be illegal though

    if gambling online is illegal then why hasn't one single person ever been prosecuted for it? holds about as much water as those stupid laws like it being illegal to put an ice cream cone in your pocket in georgia on a sunday
    Perfectly legal to bet with illegal bookies.
    Reply With Quote Reply With Quote
  14. 12-10-18 12:11 AM #14
    Yulia74
    Yulia74's Avatar Become A Pro!
    Join Date: 08-28-18
    Posts: 1,907
    Betpoints: 4360

    tusd - https://www.trusttoken.com/
    pax- https://www.paxos.com/standard/
    Reply With Quote Reply With Quote
  15. 12-10-18 06:24 AM #15
    Bsims
    Bsims's Avatar Become A Pro!
    Join Date: 02-03-09
    Posts: 827
    Betpoints: 13

    Quote Originally Posted by milwaukee mike View Post
    i was told by someone who would know, that it's not illegal to place bets online in the states... taking those bets might be illegal though

    if gambling online is illegal then why hasn't one single person ever been prosecuted for it? holds about as much water as those stupid laws like it being illegal to put an ice cream cone in your pocket in georgia on a sunday
    When I was a resident of Indiana, I looked into this. I concluded that it was a small misdemeanor, one notch below beating your dog.
    Reply With Quote Reply With Quote
  16. 12-13-18 01:53 PM #16
    bitcoinLuke
    bitcoinLuke's Avatar Become A Pro!
    Join Date: 05-12-17
    Posts: 390
    Betpoints: 1336

    [QUOTE=4nic8ing;28226558]
    Quote Originally Posted by xKMACKx View Post
    You realize that USDT was created by an exchange to keep the price of bitcoin propped up, right? The price could go to nothing overnight. That's why./QUOTE]

    Bitfinexed is that you??

    Just kidding. I agree with you that using Tether would be a horrible idea for the books.
    Haha, Binfinexed. That guy is off his rocker
    Reply With Quote Reply With Quote
Top
« Previous Thread | Sportsbooks & The Industry | Next Thread »