Welcome to USD1bet.com

USD1bet.com is an educational page about how people use USD1 stablecoins in the wider world of betting and prediction markets. It does not operate a sportsbook, casino, or prediction exchange. Instead, it explains concepts, risks, and good practices so that readers can make better informed decisions under the law in their own country.

Throughout this page, the phrase “USD1 stablecoins” refers to any digital token designed to stay very close to one United States dollar in value and redeemable one to one for actual dollars held in reserve. In other words, USD1 stablecoins are simply tokenized United States dollars that live on public blockchains rather than in a bank database.

Because betting is a sensitive activity that can create financial and emotional harm, this page aims to stay balanced and realistic. You will see benefits and convenience described, but also detailed warnings about legal duties, problem gambling, privacy concerns, and technical risks. None of what follows is legal, tax, or investment advice. It is general education only.

If betting is illegal where you live, or if you struggle with gambling, the safest option is not to bet at all. If you choose to participate in any form of wagering with or without USD1 stablecoins, you are responsible for staying within your local law and for protecting your own wellbeing.

What are USD1 stablecoins?

USD1 stablecoins are a category of cryptoassets (digital assets recorded on a blockchain) designed to track the value of the United States dollar very closely. A common design is a “fiat backed” stablecoin, where a company or trust holds reserves like bank deposits or short term United States government bonds, and issues one token for each dollar in reserve.^[1]

When USD1 stablecoins work as intended, one token should always be worth about one United States dollar. If the issuer allows redemptions, large traders can send tokens back to the issuer and receive dollars, which keeps the market price close to the peg (the target exchange rate). Because these tokens run on blockchains, people can send them worldwide in minutes without using legacy wire systems or card networks.

USD1 stablecoins differ from volatile cryptoassets such as Bitcoin or Ether. Those assets can move up or down by large percentages in a single day. USD1 stablecoins are meant to be boring in price terms so that they are easier to use as a payment unit, a store of short term value, and an accounting unit for traders and businesses.

At a technical level, USD1 stablecoins exist as balances attached to blockchain addresses. Users typically hold them in self custody wallets or on accounts at regulated exchanges and financial platforms. Transfers are recorded on public ledgers that anyone can verify, although the identity behind a given address is often not visible in ordinary usage.

The wider stablecoin market has grown into the hundreds of billions of dollars in circulation, and regulators, central banks, and international bodies study them closely because of their potential impact on financial stability and payments.^[2] That attention is especially important when USD1 stablecoins intersect with higher risk activities such as online betting.

Why “bet” is part of the USD1bet.com name

The word “bet” in the USD1bet.com domain refers to the broader idea of wagering on uncertain outcomes. This can include sports betting, esports, online casino style games, and decentralized prediction markets where users trade positions on future events like elections, weather patterns, or economic data releases.

Many of these activities are highly regulated, restricted, or outright forbidden in some countries. Even where some form of betting is legal, there are usually strict rules on licensing, consumer protection, anti money laundering controls, and advertising standards. In many places, providers are required to block access from certain regions and to verify customer identity.

Because USD1 stablecoins are easily sent across borders, they can become part of this ecosystem in both positive and negative ways. On the positive side, they can make payouts faster, reduce friction for people who already hold digital assets, and give a clearer picture of wins and losses in dollar terms. On the negative side, they can make it easier to move value quickly into risky venues and to bypass traditional banking safeguards.

USD1bet.com focuses on the educational side of this intersection. It does not recommend any particular stablecoin issuer or betting platform. The goal is simply to help readers understand how USD1 stablecoins are used today in betting related contexts, and what to watch out for if they decide to get involved.

Why bettors look at USD1 stablecoins

Not every bettor uses digital assets, and many never will. However, people who are already comfortable with crypto systems sometimes prefer to use USD1 stablecoins instead of local fiat deposits for several reasons.

Price stability compared to other cryptoassets

The first reason is stability of value. Imagine someone holding a volatile asset such as Bitcoin on a betting site. A wager might win, but if the price of Bitcoin falls sharply during the same period, the bettor’s net account value in dollars can still drop. USD1 stablecoins reduce that extra source of uncertainty because the token itself aims to track the dollar.

From the platform’s perspective, denominating accounts in USD1 stablecoins can also simplify risk management. If wagers, limits, and payouts all use an asset tied to the dollar, it is easier to understand exposure in traditional money terms without constantly recalculating exchange rates against a volatile coin.

Faster settlement and broader access

Second, USD1 stablecoins typically settle faster than traditional bank transfers. On many blockchains, a transfer confirms within seconds or a few minutes. That can make deposits and withdrawals from betting platforms feel smoother, especially for users in regions where card payments and wires are slow, expensive, or unreliable.^[3]

Fast settlement can benefit people who value the ability to move in and out of betting balances without waiting days for a bank wire to clear. It can also be useful for professional bettors or market makers who need to rebalance positions quickly across different platforms.

Potential fee savings

Depending on the region and payment channel, sending USD1 stablecoins can be cheaper than using a bank wire or international card transaction. Network fees still apply, and some blockchains are more expensive than others, but in many cases the total cost for a cross border transfer of USD1 stablecoins is lower than the cost charged by banks or remittance services for a similar amount.^[4]

Of course, there can also be fees charged by exchanges, wallet providers, or betting platforms themselves. In practice, total cost depends on many factors, including the exact stablecoin, the chosen blockchain, and the partner institutions on both sides of a transfer.

Clearer accounting and budgeting

Because USD1 stablecoins are designed to mirror the United States dollar, they can make it easier for bettors to track how much they are really risking in familiar money terms. If a person keeps a separate wallet dedicated to USD1 stablecoins used for betting, they can see exactly how many tokens enter and leave that wallet over a week or month.

That clarity can support healthier budgeting. Rather than thinking in abstract units or chips, people can see their activity in actual dollar amounts. Of course, this only helps if users actively monitor those flows and set firm boundaries for themselves.

Privacy with traceability

USD1 stablecoins sit in an interesting middle ground between traditional bank transfers and fully anonymous cash. Transactions happen between blockchain addresses that do not inherently reveal names or account numbers. This can provide some privacy compared to having every transaction appear on a bank statement.

At the same time, most public blockchains maintain transparent records of every transfer forever. Law enforcement agencies and compliance teams routinely use blockchain analytics to trace flows suspected of crime or sanctions evasion.^[5] That means USD1 stablecoins are not a magic way to hide wrongful activity, and reputable platforms still perform know your customer and anti money laundering checks.

How USD1 stablecoins flow through a betting journey

To understand the practical role of USD1 stablecoins, it helps to walk through a typical high level flow from fiat money into a betting venue and back out. Every real world scenario has its own details, and the order can vary, but many journeys follow this kind of outline:

A person converts local fiat money into USD1 stablecoins through an exchange or a regulated platform that offers stablecoin purchases.
They move those USD1 stablecoins from the purchase platform into a personal wallet or directly to a betting venue that accepts deposits in that token.
The platform credits the user account with the same number of USD1 stablecoins (minus any fees) and allows wagers in sports, games, or prediction markets.
After some time, the user withdraws part or all of their remaining balance as USD1 stablecoins back to a wallet they control or to a compliant exchange.
The person then converts USD1 stablecoins back to fiat money, or holds them for later spending or transfers.

Each of these stages contains its own risks and responsibilities.

On ramp: moving from fiat to USD1 stablecoins

Buying USD1 stablecoins is usually done through:

A centralized crypto exchange that supports fiat deposits and withdrawals.
A regulated financial application that offers stablecoin exposure as part of a wider money service.
Peer to peer transfers, where someone pays another person fiat money and receives USD1 stablecoins directly.

With exchanges and financial apps, important questions include how they are supervised, where they hold customer funds, what protections are in place against hacking, and how they handle identity checks and reporting duties.

Peer to peer deals can be especially risky, because the other party might not send the tokens after receiving fiat money, or might later face legal trouble that traces back to the same tokens. Strong consumer protection laws that exist for bank transfers and card disputes often do not cover such informal arrangements.

Betting activity: using USD1 stablecoins on a platform

Once USD1 stablecoins reach a betting venue, the tokens are usually held in pooled wallets controlled by the platform. User balances become ledger entries in that platform’s internal system, similar to how traditional online bookmakers work.

At this stage, bettors rely heavily on the platform’s honesty and financial strength. Key points include:

Whether the operator holds customer balances in segregated accounts.
How it proves solvency and liquidity.
What dispute resolution mechanisms exist if payouts are delayed or denied.
What tools are available for self exclusion, limits, or cooling off periods to support responsible gambling.

Even if USD1 stablecoins themselves are well designed, a weak or dishonest venue can still cause major losses.

Off ramp: converting USD1 stablecoins back to fiat

Exiting the ecosystem reverses the on ramp. A user withdraws USD1 stablecoins to a wallet or an exchange, then sells them for local fiat money. Fees, delays, and regulatory checks can appear again at this stage.

In some countries, banks scrutinize incoming transfers from crypto exchanges more closely. They may ask for additional documents or even decline certain payments. Anyone who plans to move large amounts between USD1 stablecoins and fiat should understand how their own financial institutions treat crypto related activity.

It is worth emphasizing that stablecoin transfers are generally irreversible at the protocol level. If tokens are sent to the wrong address, they are usually lost forever unless the recipient voluntarily cooperates. This is different from some traditional payments, where reversals or chargebacks can be possible.

Legal and regulatory angles around the world

The legal position of both USD1 stablecoins and betting varies widely by country and sometimes even within regions of a single country. That makes it impossible for a single page to describe every scenario. However, several broad themes appear in many legal systems.

Nothing in this section is legal advice. For any real decision, readers should consult a qualified professional in their own jurisdiction.

United States perspective

In the United States, online betting is a patchwork. Many states allow some forms of sports wagering or online casino style games under strict licenses, while others forbid them entirely. Federal law also plays a role, including restrictions on offering certain games across state lines.^[6]

Stablecoins themselves are under active review by multiple agencies. Depending on structure, a USD1 stablecoin issuer may be treated as a money service business, a securities issuer, or a form of bank like entity. The precise classification often depends on reserve design, redemption promises, and how tokens are marketed.

When USD1 stablecoins are used on betting platforms that serve United States residents, multiple regimes overlap:

Gambling licenses at the state level, where applicable.
Money transmission and anti money laundering rules.
Possible securities or commodities law implications for certain products.
Tax rules regarding both gambling winnings and gains or losses from digital assets.

Many reputable operators simply block United States customers rather than attempt to navigate this complexity. People in the United States who try to bypass such blocks may violate local law or platform terms, even if they use USD1 stablecoins instead of bank transfers.

European and United Kingdom perspective

Across the European Union, gambling regulation is largely left to member states, but there are common themes of consumer protection and prevention of crime. The Markets in Crypto Assets Regulation (MiCA) introduces a harmonized regime for certain stablecoins, imposing authorization, reserve, and disclosure duties on issuers.^[7]

In parallel, the United Kingdom regulates remote betting and gaming through a national commission. Firms must hold licenses, follow rules on advertising and player protection, and perform rigorous anti money laundering checks. The United Kingdom is also exploring a tailored regime for stablecoins used in payments, focusing on reserve quality and operational resilience.^[8]

For users, the important takeaway is that a platform willing to comply with these frameworks will usually require identity verification, transaction monitoring, and in some cases source of funds checks. Using USD1 stablecoins does not remove those obligations.

Asia Pacific, Latin America, and Africa

In Asia Pacific, legal regimes range from near total bans on online betting to tightly controlled licensing hubs. Some jurisdictions actively position themselves as regional centers for both gambling and digital asset businesses, while others restrict either or both sectors.^[9]

Latin American countries also show a wide spectrum. Some are exploring formal stablecoin and crypto rules while simultaneously modernizing gambling law. Others focus on enforcement against unlicensed offshore operators. In many regions, enforcement priorities can shift over time, which adds uncertainty for both platforms and users.

Across Africa, online betting has grown quickly, often through mobile channels, while crypto adoption has also accelerated as a way to move value across borders or hedge local currency risk.^[10] However, regulation may lag behind actual usage. In such settings, consumers can face a higher risk of fraud or sudden policy changes.

In all of these regions, using USD1 stablecoins on betting platforms does not remove local legal duties. People remain subject to the law of their own country, and operators are increasingly expected to detect and block access from prohibited locations.

Responsible gambling and consumer protection

Regulators do not only focus on crime and tax. They also care about the social impact of gambling. Responsible gambling frameworks encourage or require operators to provide tools such as:

Deposit and loss limits.
Time outs or cooling off periods.
Self exclusion registers that prevent people from opening new accounts.
Prominent warnings and access to support services for problem gambling.

When USD1 stablecoins are added to the mix, some of these tools need adaptation. For example, a person might be able to bypass a blocked card deposit by rapidly sending USD1 stablecoins from a separate wallet. Well designed platforms account for this by monitoring overall deposit activity, not just a single channel.

Anyone who experiences loss of control, chasing losses, or gambling to avoid emotional distress should seek support from specialists in their own country. Technology and payment method choice cannot on their own solve underlying issues of addiction or harm.

Choosing USD1 stablecoins for betting balances

From a risk perspective, the stablecoin itself is just as important as the betting venue. Not all USD1 stablecoins are designed or managed equally well. When people assess whether to hold USD1 stablecoins that might end up on a betting platform, they often look at several factors.

Reserve quality and transparency

A core question is what backs the USD1 stablecoins. Common forms of backing include:

Cash held in regulated banks.
Short term United States government securities.
Other high quality liquid assets.

Issuers that publish regular, independently reviewed reports on their reserves provide more transparency than those that offer only high level descriptions.^[2] Some work with auditing or assurance firms that perform detailed checks on holdings and liabilities.

From a bettor’s perspective, the key question is whether USD1 stablecoins would likely hold their value and remain redeemable even under stress. A sudden loss of confidence in a stablecoin can lead to a “depeg”, where the market price falls below one dollar for each token. That would harm anyone who holds that token on a betting platform at the time.

Regulatory status of the issuer

Another consideration is how and where the issuer is supervised. Some stablecoin providers obtain licenses as electronic money institutions or similar categories. Others operate under money service business rules or banking charters. Still others rely mostly on contractual representations without a well defined regulatory home.

Issuers that are subject to clear supervision may be more likely to follow strict reserve and risk management standards, though regulation alone is never a full guarantee. Before using USD1 stablecoins in any context, especially higher risk activities like betting, it is sensible to review the issuer’s legal disclosures and standing.

Blockchain and ecosystem support

USD1 stablecoins exist on different blockchains. Some are issued on multiple networks simultaneously. Factors to consider include:

Transaction speed and typical fees on each network.
Security track record of the blockchain.
Support from exchanges, wallets, and payment providers.
Compatibility with the betting venues a person might use.

If a platform only supports one specific network, moving USD1 stablecoins on a different network may require using a bridge or a conversion service. Bridges can introduce extra smart contract and operational risks, so they deserve careful review.

Liquidity and market depth

Liquidity refers to how easily large amounts of USD1 stablecoins can be bought or sold without moving the price very far. For someone who occasionally moves small amounts, liquidity may not appear to matter. For high volume bettors or professional traders, it becomes crucial.

Deep markets on major exchanges can make it easier to convert between USD1 stablecoins and fiat money quickly. Thin markets, by contrast, can increase slippage, which is the gap between the expected and actual price at which a trade happens.

Choosing platforms that accept USD1 stablecoins

Even a robust stablecoin can be misused or mishandled by a weak platform. When evaluating a betting venue that accepts USD1 stablecoins, some of the most important questions are not about crypto at all, but about operational quality and integrity.

Licensing and jurisdiction

A first filter is whether the platform holds licenses from reputable regulators in the regions it claims to serve. Licensing details should be easy to find and verify through official registers. Unlicensed platforms might still pay out for a while, but customers are more exposed if something goes wrong.

Jurisdiction matters because it influences which courts can hear disputes, what consumer protections apply, and how easy it is for authorities to intervene if necessary. Some venues deliberately choose lightly regulated jurisdictions to reduce overhead, which can also reduce user protections.

Security practices

Strong platforms treat both fiat and USD1 stablecoins as high value assets worth defending. Security practices can include:

Cold storage arrangements for most digital assets, with only a small amount in online hot wallets.
Multi factor authentication for customer accounts.
Regular security assessments and penetration tests.
Clear communication channels for reporting suspicious activity.

No system is perfectly secure, but clear policies and a track record of responsible responses to incidents are positive signs.

Fairness, odds, and transparency

Another dimension is game fairness. Traditional regulated bookmakers are often required to provide clear rules, transparent settlement processes, and tools for resolving disputes. On chain prediction markets sometimes encode settlement rules in smart contracts, which can make processes more transparent but still rely on external data feeds or governance votes.

Users should pay attention to how a platform explains its odds, house edge (the average built in advantage for the operator), and game rules. If these are vague or hidden, USD1 stablecoins will not change the underlying risk of unfair treatment.

Responsible gambling support

Platforms that accept USD1 stablecoins should still support responsible gambling measures. Useful features include:

Tools to set deposit, loss, or time based limits.
Easy to find options to close accounts or activate long term blocks.
Prominent links to counseling or helpline services, where available.
Proactive flagging of unusual betting patterns that might indicate harm.

If a venue seems to celebrate endlessly high stakes or encourages users to chase losses, that is a warning sign regardless of the payment method involved.

Bankroll management and responsibility

“Bankroll” is a term for the pool of money someone sets aside exclusively for betting. Whether that pool is held in cash, bank deposits, or USD1 stablecoins, the core principles of responsible bankroll management are similar.

Segregating betting funds from everyday finances

One common suggestion from responsible gambling educators is to keep betting funds clearly separate from rent, food, savings, and other essential expenses. When using USD1 stablecoins, that could mean holding a distinct wallet used only for betting related flows.

Segregation makes it easier to see when activity is creeping beyond comfortable limits. It can also help people stick to the idea that losses in the betting wallet do not get replaced from critical savings or borrowed funds.

Setting firm limits

Before engaging in any betting activity, it is helpful to decide in advance:

How much total money, in dollar terms, someone is prepared to lose over a given period.
The maximum amount to risk on a single wager.
Clear stop rules that trigger a break, such as a specific loss threshold or a number of consecutive losing days.

USD1 stablecoins can support this planning by providing a straightforward, dollar based view of gains and losses. However, no digital tool can enforce personal discipline on its own. People must be honest with themselves about their tolerance for risk.

Recognizing warning signs

Some warning signs that betting activity with USD1 stablecoins or any other method may be becoming harmful include:

Hiding the scale of losses from family or friends.
Borrowing to continue betting after losing available funds.
Feeling persistent anxiety, depression, or irritability linked to bets.
Chasing losses by increasing wager size to try to “get even”.
Neglecting work, study, or relationships because of time spent betting.

If any of these patterns appear, the priority should be to seek support, not to look for new platforms or payment methods. Many countries maintain confidential helplines and counseling services for gambling related harm.

Security basics for using USD1 stablecoins

Because USD1 stablecoins live on blockchains, they introduce specific security considerations that do not appear with traditional bank accounts. A few foundational practices can reduce risk significantly.

Wallet choice and key management

Every stablecoin transfer ultimately depends on cryptographic keys that prove ownership of a blockchain address. If someone gains access to those keys, they can move USD1 stablecoins without permission and without an easy way to reverse the transfer.

Important practices include:

Using reputable wallet software or hardware devices.
Storing seed phrases and private keys offline, never in plain text documents or screenshots.
Keeping backups in secure, separate locations to guard against loss or theft.
Avoiding shared devices or untrusted computers for managing wallets.

Users who frequently move USD1 stablecoins to and from betting platforms sometimes keep a small “spending wallet” separate from long term holdings. That way, even if the spending wallet is compromised, the damage is limited.

Guarding against phishing and scams

Scams related to digital assets often rely on tricking users into revealing keys, signing harmful transactions, or sending tokens to fraudulent addresses. Common red flags include:

Unsolicited messages promising guaranteed profits from betting or trading.
Fake customer support agents asking for wallet seed phrases.
Links to websites that closely imitate known platforms but with slightly altered domains.
Offers to recover losses in exchange for an upfront payment in USD1 stablecoins.

Before sending any significant amount of USD1 stablecoins, it is worth double checking the destination address through an independent source, not just a link in a message.

Platform security and personal hygiene

Beyond wallet security, good habits include:

Enabling two factor authentication on exchange and platform accounts.
Using strong, unique passwords managed through a password manager.
Regularly reviewing account activity for unfamiliar logins or withdrawals.
Logging out of accounts on shared or public devices.

These steps are not unique to USD1 stablecoins or betting, but the combination of instantly transferable tokens and emotionally charged betting activity can make people more vulnerable to rushed mistakes.

On chain prediction markets vs traditional betting sites

Prediction markets are platforms where users trade contracts that pay out based on the outcome of real world events. Many such markets use USD1 stablecoins as the main unit of account, especially when implemented directly on blockchains.

Features of on chain prediction markets

Typical characteristics include:

Smart contracts handle trade matching, collateral, and payouts.
Users may retain direct custody of USD1 stablecoins until positions are settled.
Market prices can be interpreted as crowd implied probabilities, although this interpretation requires caution.
Rules for settlement are encoded and often visible to all participants.

In theory, this structure can offer transparency and reduce counterparty risk, because the smart contract holds collateral and releases it automatically when an event outcome is known.

Differences from traditional platforms

Traditional betting sites usually operate as centralized intermediaries. Users deposit funds, place bets against the house or against each other, and rely on the operator to keep records and honor payouts. They may or may not publish information about how odds are set or how disputes are resolved.

On chain markets shift some of that trust to open source code and decentralized governance. However, they introduce other risks:

Smart contract bugs can lock or misdirect USD1 stablecoins.
Oracles that feed external data into contracts can fail or be manipulated.
Governance decisions about ambiguous outcomes can be contentious.

People drawn to prediction markets primarily because they accept USD1 stablecoins should still evaluate these technical and governance dimensions carefully.

Future trends for USD1 stablecoins and betting

The relationship between USD1 stablecoins and betting is shaped not just by technology, but also by law, consumer attitudes, and the broader financial system. Several trends are worth watching.

Closer integration with regulated finance

As regulators clarify rules for stablecoins and digital assets, more traditional financial institutions may begin to support USD1 stablecoins alongside bank accounts and cards.^[2] That could make it easier for people to move seamlessly between fiat and tokenized dollars without relying on specialized exchanges.

At the same time, regulators may require stronger controls around how USD1 stablecoins are used in higher risk sectors. This could include stricter monitoring of flows to and from betting platforms, reporting obligations, or limits on certain types of transactions.

Greater emphasis on consumer protection

If USD1 stablecoins continue to grow in betting related contexts, consumer advocates are likely to push for clearer rules on disclosures, marketing, and harm reduction. This might include standardized risk warnings, better data on losses and time spent betting, and stronger penalties for deceptive practices.

Technologists and policy makers are also exploring ways to embed safeguards directly into digital money systems, though such designs raise debates about privacy and autonomy.

Competition from other forms of digital money

Central bank digital currencies (CBDCs) are another area of active research and pilot projects.^[11] In some designs, they could coexist with privately issued USD1 stablecoins, each serving different use cases. For example, a CBDC might be used mainly for domestic retail payments, while stablecoins continue to dominate cross border or programmable applications.

In the betting world, platforms might support multiple digital money types, leaving users to choose based on privacy, speed, and legal considerations.

Evolving attitudes toward gambling

Finally, social attitudes toward gambling influence how technology is used. In some places, betting is viewed mainly as entertainment that should be tightly controlled. In others, it is seen as a mainstream leisure activity or even as a tool for improving price discovery about future events.

USD1 stablecoins do not settle these debates. They simply provide another payment rail. The way society chooses to integrate or restrict them in betting contexts will depend on ongoing conversations between regulators, industry, civil society, and individuals.

Frequently asked questions

Does using USD1 stablecoins make betting legal where it would otherwise be illegal?

No. The legality of betting depends on the law of the place where the activity happens and sometimes the location of the operator. Changing the payment method from bank transfers to USD1 stablecoins does not change that legal foundation. People remain subject to the same rules and penalties.

Are USD1 stablecoins themselves a form of gambling?

USD1 stablecoins are designed to mirror the value of the United States dollar. Holding them is generally not considered gambling in itself, although there can still be risks related to issuer failure, regulation, or market disruptions. Using USD1 stablecoins on betting platforms, however, clearly involves gambling.

Can losses with USD1 stablecoins be reversed if something goes wrong?

In most cases, no. Blockchain transfers are final once confirmed, and even reputable betting platforms may not be able to reverse mistaken withdrawals or deposits to wrong addresses. Some platforms might make goodwill exceptions, but this should never be assumed. Extra care before sending USD1 stablecoins is essential.

How are taxes handled when betting with USD1 stablecoins?

Many countries tax gambling winnings in some fashion, and some also treat digital asset transactions as taxable events when converted to fiat or exchanged for other tokens.^[12] The details depend heavily on local law. For specific guidance, readers should consult local tax professionals and regulatory resources.

Is it safer to avoid using USD1 stablecoins for betting altogether?

For many people, especially those who are unsure about the legal situation, concerned about addiction, or unfamiliar with digital asset security, the safest course is not to combine USD1 stablecoins and betting at all. Entertainment and financial goals can often be achieved through less risky activities.

For those who still decide to participate, using USD1 stablecoins thoughtfully should be only one part of a broader focus on legal compliance, security, and personal wellbeing.

References

[1] Bank for International Settlements, “Stablecoins: risks, potential and regulation”, 2019. Link

[2] Financial Stability Board, “Regulation, Supervision and Oversight of Global Stablecoin Arrangements”, 2020. Link

[3] World Bank, “Remittance Prices Worldwide”, data portal. Link

[4] International Monetary Fund, “The Rise of Digital Money”, 2019. Link

[5] Financial Action Task Force, “Updated Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers”, 2021. Link

[6] United States Government Accountability Office, “Internet Gambling: An Overview of the Issues”, 2002. Link

[7] European Commission, “Markets in Crypto-assets (MiCA) Regulation”, policy overview. Link

[8] Bank of England, “Regulatory Framework for Systemic Payment Systems using Stablecoins”, 2023. Link

[9] Asian Racing Federation, “Asian Betting and Gambling Handbook”, research series. Link

[10] GSMA, “The Mobile Economy Sub-Saharan Africa”, 2023. Link

[11] Bank for International Settlements, “Central Bank Digital Currencies: Foundational Principles and Core Features”, 2020. Link

[12] Organisation for Economic Co-operation and Development, “Taxing Virtual Currencies: An Overview of Tax Treatments and Emerging Tax Policy Issues”, 2020. Link