Investment of $17.2 million secured by EDGE Markets for a banking platform exclusively tailored for the gaming industry
Introducing the EDGE Boost Debit Card: A Revolutionary Tool for Responsible Betting
In the world of online gambling, the EDGE Boost debit card stands out as a unique financial service tool, designed specifically for bettors. This innovative card offers a solution for those who fund their iGaming or sportsbook accounts with credit cards, often incurring higher interest rates and transaction fees due to credit card issuers treating these transactions as cash advances.
EDGE Boost, a suite of financial services, has been developed to cater to the needs of bettors, ensuring that they are not subjected to cash advance fees and exorbitant interest rates. The card, which includes a bank account and VISA debit card, can be used at licensed sportsbooks, horse racing platforms, iGaming (iCasino) websites, daily fantasy sports sites, and sweepstakes websites. It is also accepted at authorized brick-and-mortar casinos, according to the company.
One of the key features of EDGE Boost is its commitment to responsible gaming. The platform provides users with tools such as setting betting limits, employing "cool down" periods, and offering optional transaction notifications to accountability partners. These features aim to help users manage their gambling expenditures, avoid impulsive behaviour, and maintain control over their finances.
Funds deposited to EDGE Boost accounts are held by Cross River Bank and are subject to FDIC protection up to $250,000 per account, ensuring the security of users' funds.
The financing round for EDGE Markets, the company behind EDGE Boost, was led by Bullpen Capital, an early investor in FanDuel. The round also had contributions from Step Stone Group, Suro Capital, Impulsum Ventures, Mantis VC, Indicator Ventures, and others. San Francisco-based Bullpen Capital holds stakes in other gaming entities, including Jackpocket and Swish Analytics.
As concerns about problem gambling and related financial consequences rise, EDGE Markets could find a receptive audience among both bettors and gaming companies. Paris Smith, Co-founder of Defy the Odds and former chief executive officer at Pinnacle, stated that EDGE Boost identifies users who have taken additional steps to play more responsibly without incurring additional costs or overhead.
Industry veterans and those with common sense believe that the cornerstone of responsible wagering is that the bettor is only wagering an amount he or she can afford to lose. EDGE Boost's commitment to responsible gaming aligns with this belief, making it a valuable tool for those looking to gamble responsibly.
- The EDGE Boost debit card, a revolutionary financial service tool, is specifically designed for bettors who often face higher interest rates and fees when funding their iGaming or sportsbook accounts using credit cards.
- EDGE Boost, catering to the needs of bettors, provides a solution by offering a VISA debit card which can be used at licensed sportsbooks, iGaming websites, daily fantasy sports sites, and sweepstakes websites, as well as authorized brick-and-mortar casinos.
- One of the key features of EDGE Boost is its commitment to responsible gaming, offering users tools such as setting betting limits, "cool down" periods, and optional transaction notifications to accountability partners to help manage gambling expenditures and avoid impulsive behavior.
- Funds deposited to EDGE Boost accounts are held by Cross River Bank and are FDIC protected, ensuring the security of users' funds.
