Why Stablecoins Could Represent the Future of Online Casino

It’s quite apparent that the crypto sector has made some headway into online casino and sports betting. It’s a common topic for coverage on this website, and there is clearly an appetite among some crypto holders to connect their wallets and play their favorite games. 

Yet, as we are also well aware, most crypto casinos do not hold licenses in major markets like the United States and the United Kingdom. That, in and of itself, is not a problem for some players today, yet it might become an issue if and when the crypto sector becomes more mainstream in the future.

That said, there is an argument that rather than have two competing pillars – offshore-licensed crypto casinos on one hand, mainstream licensed U.S. online casinos on the other – there will be more of a convergence in the future, especially when, as hinted above, Western governments adopt the legislation required to fully integrate crypto into daily life.

Stablecoins would suit the mainstream casino sector

The most commonly cited crypto innovation that could act as a bridge between the two sectors is arguably stablecoins. It just makes sense on so many levels. For a start, there is the lack of volatility. One of the issues that mainstream operators have is the fact that depositing, say, ETH, BTC, or SOL on a platform inherently means there is a risk of depreciation of the asset. We know there are ups and downs in crypto, sure, but the casino business has fine margins, and operators want to know the value of their holdings against potential payouts. Stablecoins negate that risk.

Secondly, and perhaps more importantly, there is the mainstream infrastructure being built now for stablecoins. Look at what companies like Stripe and VISA – both key payment processors for the global casino industry – are doing now to pave the way for stablecoin adoption. This will make it so much easier for mainstream online casinos to adopt. 

International payments could be frictionless

There is also an argument for the speed of payments. However, we’d like to address some of that which might have been misunderstood. The casino sector does not have any issue with the speed of payouts. In many cases, they are instant, especially if you use an option like PayPal. Yet, even virtual banks like Revolut and Monero can be used for instant withdrawals. It can depend on the casino provider, but that also happens in the crypto casino sector, too.

However, where stables could be highly useful for the casinos is cross-border payments, which can have a lot of friction when using traditional payment methods, especially banks. The mainstream casino industry has a global footprint, so the ability to standardize payment processing with stablecoins would be most welcome. Of course, there would still be regulatory hurdles to overcome with processing payments overseas. Still, as has been reported on Cryptwerk, stablecoins streamline global commerce. The merits outweigh the disadvantages.

There are other arguments to make, not least the role of the blockchain and crypto wallets in casinos. This can help with everything from transparency to seamless VIP reward schemes. But for us, stablecoins remain the best entry point for mainstream casinos adopting a crypto future.