EDGE Boost is a first-of-its-kind debit card and dedicated bank account that exclusively processes betting transactions and allows bettors to keep tabs on all types of gaming expenditures nationwide.
Seni Thomas, founder and CEO of EDGE Boost parent EDGE Markets, talked to Covers Senior Editor Ryan Butler about the inspiration for the product, how it can help bettors and plans to change the future of cashless gaming.
Key takeways
- EDGE Boost solves a banking problem, where low daily debit card withdrawal limits hamper users and the gaming industry suffers from inefficient payment systems.
- The card separates gaming accounts from everyday spending accounts, letting customers access and keep track of all their gambling activity in one place.
- Safeguards ensure users can't access EDGE Boost for any other purpose, not even to buy drinks at a bar inside a casino.
RB: What was your professional background and how did you get involved in EDGE Boost?
ST: "My background isn’t in gaming; I come from advertising technology and more of a Silicon Valley mindset. We were looking at market growth and identifying friction points. I started placing my own sports bets to understand how things worked and was shocked by how difficult it was to make money."
"Then, when you factor in brick-and-mortar casinos, it becomes even more challenging. The average person can’t withdraw more than $600–$800 per day on a debit card. When we examined the industry’s payment systems—closed-loop wallets, VIP preferred, wires, and even the process for funding horse racing bets at CVS—it was clear there were major inefficiencies."
"Our big realization was that this has never been a payments problem; it’s always been a banking bottleneck. If we could solve that, everything downstream would be easier. That was our insight 4.5 years ago, but it turned out to be much more complex than we initially thought."
RB: How long did that process take?
ST: "We believed we could raise money and launch in 18 months, but regulatory and banking hurdles made it a long and expensive process. It cost us $17 million and took 4.5 years. Existing fintech infrastructure like ACH and account opening systems weren’t built for gaming transactions, so we had to build our entire banking infrastructure from scratch."
"It was a time-consuming and complex endeavor, but it gave us significant flexibility and power. We also gained incredible cost advantages, allowing us to offer our services completely free for both operators and users."
RB: American Gaming Association President Bill Miller has joked that casinos and strip clubs are the last two industries relying entirely on cash. Do you see this as a big step forward for more cashless gaming?
ST: "Exactly. One key issue we focus on is financial segmentation versus financial fragmentation. Offline, it’s a mess—wires, ACH, credit lines that only allow access to existing funds, and people literally flying around with backpacks full of cash."
"We just launched as the official debit card for the World Series of Poker, and the system is still broken. Players need safety deposit boxes, wait in line for hours, and deal with unnecessary friction. Online, it’s no better."
"You deposit money via debit card until you hit the daily limit, then switch to PayPal, Venmo, Skrill, or ACH. This results in multiple gaming and funding accounts. It’s so fragmented that people use Google Docs just to track balances."
RB: What does this look like practically?
ST: "Our approach is to start from a banking perspective. The simplest fix is financial segmentation—separating gaming funds from everyday spending. If someone actively moves $5,000 into a dedicated gaming account, they immediately have better control over their bankroll."
"Additionally, for the first time ever, users can see all their gaming transactions across different platforms nationwide in a single statement. We’re working to develop a dashboard for better financial tracking. Just having this universal view and segmentation alone makes a massive impact on responsible gambling and budgeting."
"Our system is nationwide and works across all gaming verticals. The key innovation that allowed us to navigate regulatory hurdles is our record-high daily debit limit of $250,000."
RB: EDGE Boost’s biggest differentiating factor is the debit card. What makes it different from the hundreds of other banking options?
ST: "The only thing our debit card can be used for is KYC-approved gaming and gaming-related accounts. When you link your bank account, we verify your identity. Every gaming operator—DraftKings, ExpressBet, casino cages—also verifies your information, ensuring a seamless, traceable funds flow."
"Unlike traditional banking, you can’t use our card for crypto, gift cards, Amazon, or even bars inside casinos. If you try, the transaction is automatically declined. This means users have a clear, dedicated record of their gaming expenses without any commingling."
"It also works across all states and different types of gaming, making it easier for users to manage their money."
RB: People love maximizing airline miles and points. What does your company offer for these points?
ST: "Yeah, totally. We offer cash back, and this is actually a very important point. The way we make money is through what's called an interchange fee. This is what pays for all your airline points and everything. Every time a card is swiped, Visa pays us a percentage, and we pass a portion of that to our users in the form of cashback."
"This applies to sports betting and daily fantasy. The idea is that the system only really works if the majority of transactions go through it. It’s similar to choosing between using a Sapphire card or an Amex—you want to aggregate all that spend in one location. The cashback acts as an incentive, but it also aligns with our business model since we’re passing through a percentage of our revenue."
"In mature markets like Australia and the UK, no one gambles out of their primary checking account. Everyone has a separate account with their bank for gaming transactions. The reason? Having gambling transactions on your primary account can hurt your ability to get a lease, mortgage, or even affect credit underwriting."
RB: What are some of the responsible gaming tools you’ve incorporated into the product?
ST: "There are three main features. First, universal limits—super basic, but now it’s all in one place. Second, we offer a cooldown period where users can lock their entire account for up to 30 days. Third, we have a Co-Pilot program, which is like an accountability partner for gambling. Users can opt in to receive weekly transaction reports from a friend."
"It’s a form of social accountability. Another feature is that if you want to increase your limit, your Co-Pilot has to verify it with a code. This adds another layer of accountability."
RB: What do you have planned next?
ST: "We’ll be adding more content and working with partners to improve our dashboards. Right now, it just looks like a bank statement, but we want to make it more interactive, like Robinhood or Rocket Mortgage."
Financial Disclosure: "Deposit Checking accounts are held with Cross River Bank, Member FDIC, insured up to $250,000. The EDGE Boost Visa Debit Card is a Visa® debit card issued by Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc."
