Overview
Stablecoins can make sportsbook deposits fast and low-cost, but each coin has different networks, fee patterns, and compliance trade-offs. This guide compares USDT and USDC for real-world betting and explains why BUSD is being phased out. Always use licensed operators and follow local laws and KYC rules. The UK Gambling Commission continues to classify cryptoassets as high-risk for AML purposes, so expect extra checks at compliant books.
BUSD in 2025: winding down
Paxos stopped minting BUSD in February 2023 at the direction of New York’s regulator, and the supply has been wound down without a de-peg. Binance subsequently encouraged users to convert BUSD and has disabled or removed BUSD functions in stages. If you still hold BUSD at a sportsbook or exchange, convert or withdraw to a supported asset.
Practical takeaway: plan on using USDT or USDC instead of BUSD for deposits and withdrawals.
USDT vs USDC: what really matters for bettors
1) Backing and disclosures
USDT (Tether) publishes quarterly reserve attestations by BDO and a live transparency dashboard. In Q2 2025, Tether released an attestation and ongoing reserve composition data. USDC (Circle) provides monthly third-party assurance and details its reserve model and custodians (e.g., short-dated U.S. Treasuries and cash with major institutions).
What this means: both are fiat-backed stablecoins with attestations, but cadence and format differ. Many regulated venues prefer USDC’s disclosure cadence; USDT has the widest circulation and liquidity.
2) Networks and fees
Network choice drives cost and speed far more than the coin brand. USDT is issued on many chains; Tether announced it will end support and freeze remaining tokens on older/low-use networks like Omni, SLP, EOS, Algorand, and Kusama on September 1, 2025, while focusing on higher-demand chains. USDC ended support for the Tron network in 2024; it remains available on multiple other chains with fast settlement. In general, TRON (TRC-20) USDT deposits/withdrawals are widely available and inexpensive; Ethereum (ERC-20) is broadly supported but can be pricier during congestion. Always match the network your sportsbook supports.
Tip: many payment providers and exchanges also note TRC-20 USDT as a low-fee rail for payments; still verify live fees and supported networks in your sportsbook’s help center.
3) Blacklisting and freezes
Both issuers can freeze tokens under certain conditions. Circle’s USDC terms allow blocking addresses and freezing USDC associated with illegal activity. Tether’s legal policies state it may freeze tokens or bar transactions, and numerous on-chain analyses and news reports document real freezes following law-enforcement requests. If your funds touch a blocked address, transfers can be halted. For risk-sensitive users, keep clean, well-documented on- and off-ramps.
4) Acceptance at sportsbooks
Most crypto sportsbooks that accept stablecoins support USDT and often USDC. Help centers typically outline deposit steps, network selection, and minimums. If your operator offers multiple networks for the same coin, pick the one that matches your wallet and minimizes fees.
Quick comparison
| Feature | USDT (Tether) | USDC (Circle) | BUSD (Paxos, legacy) |
|---|---|---|---|
| Status in 2025 | Largest stablecoin by circulation; broadest sportsbook acceptance | Widely used; preferred by some regulated venues; expanding multi-chain tools | Minting halted 2023; exchange support sunset; convert away |
| Attestations | Quarterly by BDO; live transparency portal | Monthly third-party assurance; reserve details and custodians disclosed | Paxos wound down BUSD post-NYDFS order |
| Networks you’ll see at books | TRC-20, ERC-20, others; older networks being discontinued | Multiple chains; TRON support ended in 2024 | Being phased out; not recommended for betting flows |
| Freeze capability | Yes (issuer can blacklist/freeze based on policies and legal requests) | Yes (address blocking and freezes per terms) | Subject to issuer and regulatory directives; winding down |
| Typical fees perception | Often lowest on TRC-20; ERC-20 higher during congestion | Varies by chain and sportsbook; ERC-20 can cost more in busy periods | Not applicable going forward |
Sources: issuer transparency pages and announcements; UKGC AML risk guidance; major sportsbook help centers.
How to deposit with stablecoins (generic workflow)
- Open the sportsbook cashier or wallet and select the currency (USDT or USDC).
- Select the exact network your wallet supports (for example, TRC-20 or ERC-20 for USDT).
- Copy the address or scan the QR code; send a small test first if you’re unsure.
- Wait for the confirmations listed in the help center, then check your balance.
- Keep a record of txids for compliance checks. Sportsbooks publish step-by-steps and stress choosing the correct network.
How to withdraw safely
- Verify withdrawal minimums and fees per asset and network.
- Paste the correct destination address and tag/memo if required by your exchange.
- Enable 2FA and address whitelisting where available.
- Expect extra checks for large withdrawals or when funds originated from higher-risk sources. Operator pages list per-asset limits and how to pick a chain for USDT/USDC.
Compliance and responsible play
Licensed operators will ask for KYC/SoF details, especially with crypto. UK guidance rates cryptoassets as high-risk for AML, and regulators expect robust controls and documentation. Do not use VPNs to bypass restrictions; it can void payouts. If your jurisdiction allows betting, choose licensed books and read the payments and AML pages before you deposit.
Frequently asked questions
Is BUSD still safe to use for betting deposits?
BUSD minting stopped in 2023 and major exchanges ended support or urged conversion by early 2024. Convert BUSD to a supported asset like USDT or USDC before funding a sportsbook.
Which is cheaper: USDT or USDC?
Fees depend on the network and the sportsbook’s policy. TRC-20 USDT is often the lowest-cost rail; ERC-20 on Ethereum can be more expensive when gas is high. Always confirm the supported network and live fees on your book’s help page.
Can my stablecoins be frozen?
Yes. Both issuers can freeze or block assets tied to certain addresses if they suspect illegal activity or receive lawful requests. Keep clean on-/off-ramp records and avoid interacting with flagged wallets.
Do all sportsbooks take USDC?
Many do, but acceptance varies by brand and region. Check each operator’s help articles for supported currencies and networks.
Sources and further reading
- Paxos and NYDFS on BUSD wind-down and end of minting; Binance sunset notices.
- Tether transparency and Q2 2025 attestation; supported protocols and 2025 discontinuations.
- USDC transparency and reserves; Circle networks and monthly assurance.
- Circle ends USDC on TRON (2024).
- Freeze/blacklist policies: Circle USDC terms; Tether legal and reporting; recent analyses of freezes.
- UK Gambling Commission risk update on cryptoassets; general crypto guidance for licensees.
- Sportsbook help pages describing deposits, networks, and per-asset steps.
