Has USDT Become the Currency of High-Stakes Celebrity Betting?

• Many crypto sportsbooks are pushing bettors toward stablecoins such as USDT.
• The main perk of USDT is that it doesn’t bounce around in value like other cryptos.
• Celebrity betting slips like Drake’s expose millions of followers to the crypto world.

Rapper Drake lost about $1.5 million worth of USDT by betting on Argentina winning the World Cup final against Spain, using the crypto betting site Stake. While the loss revived the internet’s long-running “Drake Curse” meme, a less-reported aspect is that stablecoins have quietly become the go-to currency for big-money sports betting around the globe. 

There are good reasons for it. In the past, most people betting online used regular cash or Bitcoin to fund their accounts. However, these days, many crypto sportsbooks are pushing bettors toward stablecoins such as USDT, whose value is pegged to the US dollar.

As s…

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