Back in the day we were just using the major coins like Bitcoin and some altcoins - no stablecoins yet. We gambled with the price volatility too, but we liked it because it was non-regulated and gave us full freedom in gambling.

Now crypto casinos are very regulated already, meaning we have to comply with KYC. And if we’re using stablecoins like USDT, USDC, BUSD, etc., then it’s really no different from fiat casinos since both the payment method and the casino itself are regulated.

The downside is, does blockchain now just feel like a wrapper? If I’m using USDT, it feels no different from betting with dollars on a centralized e-wallet, aside from slightly cheaper transfers.


If you are talking about the advantage feature of a cryptocurrency like:
being decentralized
freedom from intermediaries
anonymity

Then I can say, the moment we step into a centralized platform, all of these are nullified.  It is not the stablecoin gambling that is killing the crypto edge, but the centralized platform that we are joining in our gambling activities.

Centralized platform that deals with finances needs to be under the surveilance of regulators to avoid fraudulent transfers of funds and money laundering the reason why KYC is needed to be implemented and is required buy the authority.

If we want to keep the crypto edge, we should look for services or platform that is compatible to the decentralized feature of the cryptocurrency.