After almost a year of “stagnation”, Bovada Sportsbook ultimately expanded their crypto betting banking menu!
Yes, the addition of Tether (USDT) to the Bovada stable brings the site’s cryptocurrency options to five.
(Unless, of course, you count Bitcoin SV, which we don’t. The material isn’t available on any reputable US exchange at the moment, so it’s pretty hard to find – unless you do). actually get by requesting BSV payments from Bovada).
That said, Tether is not necessarily a significant addition bet funding menu, depending on your particular needs.
As a stablecoin, USDT is – in our opinion – best suited to two types of players: generally crypto-averse people who want to dip their toe into the crypto pool without taking on the risk associated with asset volatility in the short term, and those who don’t. I don’t know better.
In the interest of addressing the latter (because the former is completely legitimate and has our approval), we’ll briefly explain why you should – or should not – choose Tether from the other Bovada crypto options available (i.e. Bitcoin, Bitcoin Cash, Litecoin and Ethereum).
To start, here’s how Bovada recently announced its support for USDT, as it applies to members of the site making crypto deposits (emphasis added):
“Say goodbye to fluctuating exchange rates. … Tether works distinctly like the USD equivalent in the form of crypto and is therefore the recommended part to use for value retention. Deposits and withdrawals can be made via Tether and are eligible for all related bonuses, including the Bitcoin welcome bonus.
Ultimately, Bovada’s statement here is true. This is why Tether coins are supported in many legal online sportsbooks. And frankly, it’s the only reason why.
While other crypto coins may have different compelling use cases that justify (or do not justify) their usefulness as legitimate online gambling funding mechanisms, choosing the best coin for your needs can be a challenge. bet in itself.
This leads to “decision paralysis,” which then leads to either not playing the crypto or not playing at all.
If you find the idea of cryptocurrency still somewhat alien – or if you’re really worried about the ups and downs of bull and bear markets (by the way, buy the dip!), then Tether is a good way to go. to get started.
That said, if you’re actually using Tether to fund your online sports betting, we suspect you won’t be using it for long.
Tether – as deployed by Bovada – is a ERC-20 token, straddling the Ethereum (ETH) network. This means that USDT betting has the same disadvantages as ETH betting.
So, like Ethereum, Tether is the most expensive crypto gaming option when it comes to native transfer fees, and it is simultaneously about as slow as ETH in terms of crypto transaction speed.
Outside of the 1:1 crypto-USD relationship you’ll get by using the stablecoin Tether for online sports betting, nothing else about USDT is more compelling than – or even as convincing as – using a Nope-stablecoin to top up your betting account or to claim game withdrawals.
As such, in the world of online sports betting, we believe that Tether primarily exists as a bridge crypto.
In other words, using USDT for betting funding will allow you to “see what all the buzz is about” with all that “crypto stuff”. without subjecting you to the specter of potential crypto losses.
You will get all the same improved Bovada bonuses, including access to all Exclusive Bovada Premium Bitcoin Membership benefits – that you would get with any other cryptocurrency, and when it’s time to withdraw, you can also claim your payments in USDT.
But by then, we’re pretty sure you won’t want to.
Tether fees, as noted, will eat into your earnings, and by using USDT to deposit, you will naturally have started following the daily crypto news more closely.
After a few weeks of that – once you have met all your sports betting bonus rollover requirements and have invested enough to withdraw – you will almost certainly claim your winnings in something with real investment potential.
At the moment we recommend Bitcoin or Ethereum. Unless, of course, time is running out.
Then it’s Litecoin all the way.
To note: Bovada uses the ERC-20 implementation of Tether. Please do not use any other USDT blockchain variant when sending Tether coins to Bovada Sportsbook.
