EDGE Markets revealed that it completed a $17.2 million seed funding round at the end of last year, setting the stage for the growth of its EDGE Boost platform — a collection of financial service tools designed for bettors. 

The funding round was spearheaded by Bullpen Capital, with support from Step Stone Group, Suro Capital, Impulsum Ventures, Mantis VC, Indicator Ventures, and additional investors. It contributes to the $32 million in liabilities that the gaming-focused financial technology (fintech) company had previously secured. Bullpen, located in San Francisco, was an initial investor in FanDuel and has interests in other gaming companies, such as Jackpocket and Swish Analytics.

"We have had a front-row seat to stewarding companies with a mandate for responsible gaming, and we view EDGE as the next step in that equation by giving bettors a dedicated account for their gaming transaction,” said Bullpen founder Paul Martino in a statement.

Responsible betting is the foundation of EDGE’s namesake Boost products, which feature a bank account and debit card. EDGE Boost not only enables customers to distinguish gaming transactions from their regular bank accounts, but it also permits them to establish betting limits and implement "cool down" phases during which their account will cease betting-related transactions. 

EDGE Boost Might Attract Interest 

EDGE Boost may attract a following from bettors for several reasons, such as the potential for users to earn 0.50% on "qualified usage" across daily fantasy sports (DFS) platforms, online sportsbooks, and sweepstakes sites. 

Customers can additionally earn as much as $750 each month by moving a $5,000 bankroll every day. Banks that hold cash for sportsbook clients generally do not offer any kind of interest on those deposits. Deposits made to EDGE Boost accounts are maintained by Cross River Bank and are insured by the FDIC for up to $250,000 per account. 

As mentioned earlier, another advantage provided by EDGE Boost is that it permits bettors to have a specific account for that purpose. Although banks have not openly acknowledged this, some believe that these institutions might be less inclined to issue credit or mortgages to customers who frequently gamble. 

Since the card linked to EDGE Boost is a debit card rather than a credit card, users enjoy the advantage of avoiding cash advance fees and interest charges. Many bettors who deposit into iGaming or online sportsbook accounts with credit cards are unaware that card issuers classify these transactions as cash advances, leading to elevated interest rates and fees for cardholders. 

“The EDGE Boost 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.

EDGE Emphasis on Responsible Gaming May Boost Adoption 

As worries about problematic gaming and its financial effects increase, EDGE Markets may appeal to both gamblers and gaming firms. 

Experts in the industry and practical thinkers agree that the foundation of responsible betting is that the gambler should only bet an amount they can afford to lose. 

EDGE Boost additionally offers genuine responsible gaming tools to help its users make informed choices. "From the operators' perspective, it also recognizes users who have made extra efforts to engage in more responsible gaming without facing extra expenses or burdens," stated Paris Smith, Co-founder of Defy the Odds and former CEO of Pinnacle.