A third-party responsible gaming solution has made its debut with strong financial support.
EDGE Boost has launched as a first-of-its-kind solution providing users with a bank account designed to promote responsible gaming. The platform offers a dedicated debit card and bank account allowing users to separate gambling transactions from normal finances. EDGE Boost has launched after closing a $17.2 million seed round.
The round, led by venture capital fund Bullpen Capital, had contributions from Step Stone Group, Suro Capital, Impulsum Ventures, Mantis VC, Indicator Ventures. EDGE Markets has also raised $32 million in debt to further support its RG platform.
EDGE Boost offers unique features allowing bettors to gamble responsibly including cashback incentives and personalized spending limit suggestions. The financial RG solution also has no maintenance costs and provides frictionless wagering with a slew of operators.
“Bettors want a debit card that is exclusively designed and tailored for all their gaming needs,” said Defy the Odds co-founder and EDGE Boost advisor Paris Smith. “With its easy-to-use interface and immediate access to cash, EDGE Boost also provides real responsible gaming tools for its users to be smarter. On the operator’s side it also identifies users who have taken additional steps to play more responsibly without incurring additional costs or overhead.”
Since its soft launch in late 2024, EDGE Boost has processed approximately $300 million in transactions with each account on the platform insured up to $250,000 with the FDIC.
EDGE Boost is the first betting-only banking service to provide that level of FDIC support.
Credit cards receive pushback
EDGE Boost is providing bettors with a new payment option as credit card funding continues to be a top of discussion for regulators and lawmakers across the country.
Last year, the National Council of Legislators from Gaming States (NCLGS) drafted model online casino legislation recommending operators to not allow players to use credit cards. The recommended restriction applies to both deposits and withdrawals.
Several online casino markets including New Jersey and Pennsylvania allow credit card funding. In 2024, a Pennsylvania lawmaker introduced a measure to ban credit card funding for online gambling activities.
The measure failed to progress after being referred to a Senate subcommittee.
