EDGE Boost Raises $17.2M to Expand Gambling Platform
Key Takeaways
EDGE Markets closed a $17.2 million funding round at the end of 2024. The goal is to expand the EDGE Boost platform – a banking solution designed specifically for gamblers. The platform offers a separate bank account and debit card to help you better manage your gambling activities. In addition to safety features like spending limits and cooldown modes, EDGE Boost also offers financial incentives and interest on certain transactions.
What is EDGE Boost?
EDGE Boost is a financial platform created exclusively for gamblers. You receive a separate bank account and a VISA debit card that you can use for deposits at licensed online sportsbooks, iGaming websites, Daily Fantasy Sports (DFS), and even land-based casinos.
The advantage: your gambling transactions remain separate from your regular bank account. This helps you manage your spending more effectively and avoid potential impacts on your credit score.
Funding and Investors
The seed funding round was led by Bullpen Capital. Additional investors include Step Stone Group, Suro Capital, Impulsum Ventures, Mantis VC, and Indicator Ventures. In total, EDGE Markets has raised $49.2 million – $17.2 million in equity and $32 million in debt financing.
Bullpen Capital is no stranger to the gambling industry. The firm was an early investor in FanDuel and holds stakes in Jackpocket and Swish Analytics.
Responsible Gambling Features
EDGE Boost focuses on tools that promote responsible gambling. You can:
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- Set spending limits
- Activate “cool-down” periods during which gambling transactions are disabled
- Use a separate account for gambling to keep your finances organized
These features are designed to help you only wager what you can afford to lose – a key principle of responsible gambling.
Financial Benefits for Users
EDGE Boost also offers monetary incentives. With qualified usage, you earn 0.50% interest on deposits made to DFS platforms, online sportsbooks, and similar services. Users transferring $5,000 daily could earn up to $750 per month.
Another benefit: the debit card helps avoid the high fees and interest charges often associated with credit card payments for gambling. Many credit card issuers treat such payments as cash advances – which come with steep costs.
Deposit Insurance and Banking Partner
Funds in your EDGE Boost account are held with Cross River Bank. The bank is a member of the Federal Deposit Insurance Corporation (FDIC), which means your deposits are insured up to $250,000.
Why EDGE Boost Appeals to Gamblers
Many banks view gambling transactions with caution. While there are no official statements, there is concern that frequent gambling activity could hurt your chances of getting loans or mortgages.
With EDGE Boost, you can isolate your gambling expenses while benefiting from practical features. The system appeals to both experienced gamblers and newcomers who value control and transparency.
Our Assessment
EDGE Boost offers a well-thought-out solution for anyone who takes gambling seriously and wants to maintain control over their finances. The combination of a separate account, debit card, and self-management tools is both practical and timely. Particularly noteworthy is the platform’s approach to actively promoting responsible gambling – not just through restrictions, but also through financial rewards.
For players who regularly engage in online betting or iGaming, EDGE Boost can be a valuable addition to their financial toolkit. The platform addresses a real issue in the industry: managing money responsibly while gambling.
Sources
- EDGE Markets
- Bullpen Capital
- Cross River Bank
- Defy the Odds
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