Tether USDT deposit showing as 0.98 USD balance after 1.00 USDT transaction

Yeah I've seen this at a few places. Some casinos use real-time exchange rates even for stablecoins instead of treating them as true $1.00 pegs. USDT can trade at $0.998 or $0.999 during market stress.

BTC deposits don't have this problem since they convert at whatever the current BTC price is. But stablecoins should be pegged. Have you contacted support about the difference?

I stick to BTC deposits specifically because of this issue. Stablecoins should be stable but casinos often use third-party exchange rates that can show USDT trading at $0.9985 or whatever.

The irony is that we use stablecoins to avoid volatility but then lose money on conversion anyway. At least with BTC you know exactly what rate you're getting based on current market price.

Check their terms about currency conversion. Some casinos state they use "prevailing market rates" even for stablecoins. Ignition does this too - I've had USDT deposits credit at $0.997 during high volatility periods.

It's annoying but technically not wrong if their terms mention market-rate conversion. Still feels like we're getting shortchanged on what should be dollar-pegged assets.

Thanks for confirming this isn't just me. Going to start tracking the exact conversion rates they use versus actual USDT market price at deposit time.

Might switch back to USDC since that seems more consistently credited at parity across different brands. The whole point of using stablecoins was to avoid exchange rate surprises but apparently that's not guaranteed.