Online Casinos in the Netherlands Offering Tether
Even though the online gambling landscape in the Netherlands kept on shifting, today, Dutch players are allowed to join online casinos, and across these sites, they have the opportunity to use Tether for their deposits and withdrawals. This leading stablecoin has been quite a success among Dutch players since they have already been using it across other industries. The stablecoin allows them to use their native currency, the euro, in a digital manner and actually transact in crypto. We'll tell you more about it soon, but it is worth saying right away that you will find it listed as an accepted payment method across most, if not all Dutch online casinos. What is Tether and why decide to use it across Dutch online casinos?
The Legality of Online Gambling in the Netherlands
The Dutch land-based gambling industry has been going strong since 1964. That’s when the country regulated it, putting two operators in charge, one for casinos and one for lotteries, the Holland Casino and the Nederlandse Loterij, respectively. These two have monopolies over their respective verticals and have been doing a great job for years now. There are 14 casino establishments led by the Holland Casino, as well as smaller slot halls offered all across the country. However, when the time came for the country to decide whether or not online gambling should be regulated, as well, a lot of things happened.
Given its monopoly-based land-based gambling scene, the country wanted to legalize online gambling but make it monopoly-based, too. But, since the Netherlands is a member country of the EU, this was not possible. Although it legalized online gambling, the country was not allowed to make it monopoly-based, as that would contradict EU gambling laws. The EU laws are all about free and fair trade among member countries, and should the Dutch market remain closed, that won’t be possible. That’s why in 2019, the Netherlands had to liberalize the market and regulate it duly with the Remote Gambling Act.
But, the country took its sweet time to ensure that proper player protection measures were put in place before it put the market live. In fact, the market launched in 2021, two years after it was officially legalized. The Kansspelautoriteit (KSA), the Dutch regulator, kept on informing the public during these two years that they’ve been working on technical issues and that’s why the market launch was delayed. Nevertheless, in 2021, operators and software developers were allowed to start applying for their licenses to offer online gambling to Dutch players.
Plenty of them did. Plenty of them entered the Netherlands through deals and secured their license to legally offer their content to Dutch players. This doesn’t mean that the KSA went easy on them, though. Quite the contrary, they had to respect and follow some pretty strict rules, especially when it came to player protection, in the country’s efforts to keep players safe at all costs. KSA intensified its clampdown on illegal online gambling activities, and operators that were conducting unlicensed operations in the Netherlands were severely scrutinized and even penalized accordingly for inappropriate actions.
Therefore, as a Dutch player, whenever you engage in online gambling, you can rest assured that your entire experience will be as safe and fair as it gets, should you join licensed sites, of course. Rest assured, too, that the licensed sites offer industry-leading games, from all categories you can imagine, be that slots, Live Dealers games, video or online poker, to mention a few. These titles are yours to play thanks to developers like Playtech, Endorphina, Yggdrasil, and Games Global, for instance. So, as long as you're on the right site, you'll have an amazing time.
But, to be certain that you’ve selected the right site for you, you need to first check the banking methods list on the site you’re eyeing. Since Tether aids Dutch authorities in takedown of money laundering operations, you might want to consider using it for your deposits and withdrawals. Since it is greenlighted by the authorities, this stablecoin is THE solution to consider using. It provides you with an easy transition from fiat to digital currency, as that’s exactly what its purpose is: to digitalize the fiat currency in the easiest way possible. While still using your native currency, the euro, with it, you will be able to make deposits and withdrawals in crypto. If you’re uncertain what all of this means, follow our lead, as in the next section, we’ll tell you all about it.
Why Start Using Tether at a Dutch Casino?
If you don’t really know anything about it, Tether is a stablecoin, which literally translates into a crypto coin that is way more stable than any other. What does that mean? Well, it means that it gives you the stability of the fiat currency, yet it allows you to enter the world of cryptocurrency, as it presents a bridge that connects the two. Namely, with it, you get to use your native currency, the euro, to fund your account, and the amount you entered will immediately convert to Tether, the crypto, for you to use a digital currency for your online transactions.
Now, historically speaking, Tether was a US dollar-pegged stablecoin, launched in 2014 on Bitcoin’s underlying blockchain technology, but with time, its creators, crypto enthusiasts, and Bitcoin adopters made sure to expand its reach. Today, it is not only the US dollar's equivalent but also the euro’s and the Chinese yuan’s equivalent. To clarify, 1 USD equals 1 USDT (Tether’s acronym), but 1 EUR equals 1 EURT, and 1 CNH equals 1 CNHT. Since you’re a Dutch player, you will probably focus on the euro-pegged version, since non-euro-dominated stablecoins are no longer welcome in the EU. You should know that the stablecoin is also enabled through Ethereum’s blockchain, offered as ERC20.
To get a better picture of how it actually functions, we must take you through every step of the way that you need to go through in order to get started with it. Don't worry, though, these are only several simple steps that are incredibly intuitive, so you cannot make a mistake even if you tried. So, the minute you visit Tether's official website, press the Create Account button. You will need to create a crypto wallet account with it, essentially, by providing your email address and a few basic personal details, as requested. Verify your identity quickly and then proceed by accepting the Terms and Conditions. With that, the account is created and ready to be funded.
Here comes the most fun part. This is where the magic happens, actually. As you use one of the many offered payment methods to fund the account in euros, and top it up with, say €30, the fiat currency automatically converts into a digital currency, and you have EURT30 on your balance. In the blink of an eye, you've managed to convert your native currency into crypto, and the second you're ready, you get to use this crypto across the many Dutch online casinos that accept it. In fact, follow our lead, as in the next section we'll take you through the depositing and withdrawing procedures with it so that you're fully equipped with knowledge the minute you decide to give it a go.
How to Deposit and Withdraw Across Dutch Online Casinos with Tether?
Tether is actually very popular in the Netherlands. Given how pro-crypto the country is, and how the solution has helped authorities in vital anti-money laundering operations, it is a real hit with the authorities and the public alike. Naturally, it has penetrated the online gambling market, too, and it is actually offered across every second if not every single online casino licensed by the KSA.
Therefore, the first thing to do is check out a few licensed Dutch casinos, find the one that suits you most and accepts Tether, and create a player account with it. To fund your player account with Tether, go through the following steps:
- Access your player account and search for the Banking/Payment Methods page.
- Look for a section that reads Deposits and find Tether’s logo on it.
- Press it and you’ll immediately see the casino’s crypto wallet address displayed; copy it.
- Enter your Tether account and set the amount you want to deposit.
- Paste the copied address in the designated field and confirm the transaction.
- In an instant, your coins will arrive at your casino balance.
To request a withdrawal with it, you will need to go through similar steps, really. After you find the Withdrawals section on the Banking/Payment Methods page, you need to select Tether. Here, though, the next step would be copying and pasting your crypto wallet address in the appointed field and setting the amount you wish to withdraw.
The only major difference is that the withdrawal won’t be instant. The casino needs to check your request, and depending on its withdrawal policy, this can take anywhere from a few minutes to up to 24 or 48 hours. Therefore, wait for the approval, but as soon as you get it, rest assured that the coins will immediately arrive in your Tether account.
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FAQs
Is online gambling legal in the Netherlands?
Can Dutch online casino players access offshore online casino sites?
How many Dutch online casinos offer Tether?
Who do I get in touch with in case my Tether deposit fails?
Do I need to download an app to use Tether via my mobile device across Dutch casino sites?
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