Tether Sports Betting Deposits And Payouts
If you’re not using cryptocurrency for your online bet funding, you’re missing out. It’s that simple. Buy crypto often isn’t so simple, which is where Tether sports betting deposits and payouts come in. Tether is like Bitcoin et al., but it doesn’t have the same volatility. Instead, Tether is worth exactly a buck no matter your luck. As such, those deterred by the risk inherent in crypto can feel better about tethering themselves to Tether.
But because Tether is still a crypto asset, it comes with all the benefits that other sports betting cryptos do: guaranteed deposits, the biggest bonuses, and same-day payouts. The only thing you don’t get with this online sports betting banking option is the potential to see your Tether holdings grow when the markets go up. So, if you’d buy that for a dollar, read on to learn how!
What Is Tether USDT?
Tether (stock symbol USDT) is a crypto token that rides atop several different smart-contract-enabled cryptocurrency platforms. Tether was launched in 2014 under the “RealCoin” name using technology based on the earlier “Mastercoin” crypto asset, and it’s maintained by Tether Limited under the international Bitfinex cryptocurrency exchange company.
In theory, Tether is “tethered” to the US dollar at a 1:1 ratio, which never changes. Tether Limited maintains this valuation through a combination of liquid USD holdings, various other investments and partnerships, and so on. Tether is considered a “stablecoin,” as its value does not fluctuate.
Of course, most online sports betting cryptos have values that do fluctuate, which makes USDT something of an outlier. That said, the same operators that accept Tether also accept the competing USD Coin stable coin, as well.
As a crypto token rather than a platform or “coin” unto itself, Tether “lives on” other prominent crypto blockchains. The most common crypto platform for Tether is Ethereum, and Ethereum’s USDT implementation utilizes the ETH ERC-20 network.
This means that – for all intents and purposes – USDT has the same transaction times and blockchain fees as Ethereum betting deposits and withdrawals.
How To Make Tether Sports Betting Deposits
You can top off your legal online sportsbook account with Tether the same way you would using any other supported cryptocurrency. If you’re already familiar with Bitcoin sports betting deposits or betting online with Cardano, for example, the process is no different whatsoever.
That said, if it’s your first time using crypto to bet sports online, you might need a bit of help. Here’s the general procedure:
- Follow any link here to a legitimate online USDT betting site and click or tap the “Join Now” or “Sign Up” button.
- Enter in all required personal information, taking care to use only real, verifiable All the best online sports betting sites use Know Your Customer (KYC) standards to ensure that only you have access to your betting account and online gambling funds.
- Choose the Tether/USDT option from your sportsbook’s deposit menu and copy down the site’s Tether sending address. You can also select optional online sports betting bonus at this time.
- Using your online crypto exchange account or private Tether wallet, select the “Send” option and paste the above USDT address into the recipient field, along with the Tether amount you wish to send over.
- Submit the deposit, which should be received by your sportsbook and credited to your account within 45-60 minutes.
Note: Because USDT exists as an ERC-20 Ethereum token as used by the best online sportsbooks, it has the same blockchain times and built-in blockchain fees as Ethereum transfers. However, your sports betting site does not charge any added fees for USDT gambling deposits.
How To Claim Tether Sports Betting Payouts
It’s just as simple to claim sports betting payouts in USDT as it is to make deposits using the stable coin. Here’s all you have to do to receive a same-day Tether payout when you win your online sports bets:
- Head over to your site’s cashier page and choose Tether from the cryptocurrency withdrawals menu.
- Open your Tether wallet or Tether exchange account, choose the “Receive” option, and copy the unique Tether receiving address
- Back at your sportsbook, enter in the amount of your eligible account balance that you’d like to pull out and paste in the above Tether address.
- Submit your payout request, and you’ll receive your winnings within 3-4 hours at most. Again, Tether payouts come with no added fees, though you’ll face higher blockchain transaction costs than many other coins due to the ETH “gas fees” Tether automatically charges.
Once you’ve received your sportsbook withdrawals, you can convert USDT to USD as easily as you can any other cryptocurrency. The most straightforward way to do this is to move your USDT into an online crypto exchange and then cash out directly to US dollars (which are deposited into your linked bank account).
You are free to store your USDT payouts as USDT in your wallet or exchange account, but this is only recommended if you plan to use your Tether for active crypto day trading or swing trading.
Whereas Bitcoin, Bitcoin Cash, Cardano, Ethereum, Litecoin, Dogecoin, etc. have the potential to appreciate dramatically, USDT is always worth exactly $1. As such, it’s not a good option for investors and hodlers like other online gambling crypto coins are.
You can buy Tether cryptocurrency at any major online exchange. However, in order to do so, you must first sign up at the exchange and go through its KYC account verification process.
Once that’s done, just link your bank account or debit card to your exchange account (most crypto exchanges do not allow users to buy crypto with credit cards), and then purchase as much Tether as you’d like.
While the process is rapid, there is a significant snag that’s of particular importance to online sports bettors: Most US exchanges make first-time crypto buyers wait 5-10 days before they can send their newly purchased crypto coins off-platform to external wallet addresses.
This means that if you’re trying to buy USDT to make a rapid sportsbook deposit so you can wager on tonight’s game or this weekend’s events, you won’t be able to move your coins into your sportsbook account quickly enough to do that.
As such, if you have to wager ASAP and have never used crypto before, we recommend making a Visa, Mastercard, or American Express sports betting deposit instead. Then, when it’s time to collect your winnings, just pull them out in USDT or any other crypto asset.
In fact, this is a fairly common way for prospective crypto bettors to acquire their first crypto coins without going through any exchanges at all!
Tether is available for purchase at all the biggest and most prevalent online cryptocurrency exchange services. These include – but are certainly not limited to – the following:
- Binance US
- Coinbase Pro
- + More
Regardless of where you buy USDT, you should keep the crypto exchange wait times for new users in mind. There are ways to acquire crypto more immediately, but the Zelle-To-Bitcoin process will not work for USDT directly, nor will the Cash App-To-Bitcoin method.
If you want to skip the long waits associated with buying Tether or most other crypto coins for the first time, you can do so using the following crypto instant-buy methods:
- Atomic Wallet Store
Atomic Wallet is the most popular third-party “universal” cryptocurrency wallet on the market, and it works seamlessly on both iPhone and Android devices (i.e. right where you do most of your legal mobile sports betting).
However, in addition to being a crypto wallet for over 300 different assets, Atomic also lets users buy 30+ different coins directly from its storefront, including Tether. Notably, Atomic Wallet is also the easiest way for US bettors to buy the Ripple XRP crypto asset, which has been temporarily delisted from many commercial exchanges. Our guide for how to buy crypto with Atomic Wallet goes into further detail.
- Coinify Crypto Store
Coinify isn’t a crypto exchange. Instead, the “Coinify exchange” is actually a storefront that allows residents in 33 US states to buy 20+ different crypto coins quickly and securely via credit/debit cards. To use Coinify, you must first set up a crypto wallet where you can receive the coins you buy.
Coinify charges a premium for the crypto coins it sells, but the convenience of being able to access your coins and send them anywhere you wish – immediately – more than makes up for this limitation, especially for online sports gambling enthusiasts.
Best Tether Wallets
No matter what kind of crypto you buy or what you intend to use it for, it is crucial that you store your crypto securely and responsibly. While most hodlers keep their assets on the exchanges where they bought them, this is actually the riskiest option.
If you’re an active crypto trader, such an approach is perfectly reasonable, but otherwise, you need to store your Tether and other crypto assets in private wallets.
We generally prefer USDT software wallets to USDT hardware wallets, as the former are faster and easier to use when making repeat deposits at online sportsbooks (though hardware USDT wallets offer even more security than the already secure software USDT wallets).
Note: It is not recommended to keep USDT in a paper wallet for any reason. If you’re going to do that, you might as well just get some actual USD and put that in your actual wallet. Remember, USDT does not appreciate in value!
Tether Online Wallets
- Binance Wallet
- Bittrex Wallet
- Coinbase Wallet
- Coinbase Pro Wallet
- Kraken Wallet
- Other Exchange Wallets
Tether Software Wallets
- Atomic Wallet
- Coinomi Wallet
- Exodus Wallet
- Tether Wallet
Tether Hardware Wallets
- Ledger Nano S
- Ledger Nano X
- Trezor One
- Trezor Model T
Tether Paper Wallets
- Coach Wallet
- Dockers Wallet
- Fossil Wallet
- Polo Wallet
- Cheap Wallet From Big Lots
- + More!