“All we're trying to do here is bring parity. So how do we create a compliant pathway for users to access those funds and let the best product win?” ~ Seni Thomas on bringing crypto payments to the regulated US gambling market.
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In this episode, I welcome back Seni Thomas, the CEO of Edge Markets (a newsletter sponsor), to talk about Edge’s recent approval for compliant crypto-to-USD conversions for US gambling. Edge Markets never holds crypto; its partners convert it to USD instantly, providing 24/7 access to funds for gaming, which will work alongside real-time bank-to-bank transfers, set to launch soon.
Thomas explains how offshore gambling thrives on unregulated crypto payments, bypassing traditional banking choke points like NetTeller. With its new crypto-conversion capabilities, Edge offers a compliant "on-ramp" that allows users to link whitelisted wallets from regulated exchanges. Thomas believes this levels the playing field against less-taxed, unregulated alternatives, shifting funds back to regulated, taxable products.
Beyond crypto, Thomas highlights real-time transfers, which address the non-9-to-5 nature of gaming, boosting revenue for operators during peak times, such as NFL weekends, where operators and customers try to get funds in their accounts before banks close on Fridays.
The conversation also covers digitizing land-based casinos, currently 80% cash-dependent, which sits in stark contrast to the rest of the economy, where 80% is digital.
We also discuss Edge’s responsible gaming tools, including limit-setting and the "co-pilot" accountability program, which has a much higher usage rate than other RG tools offered through sportsbooks.
Sponsor’s Message: Increase Operator Margins with EDGE Boost Today!
EDGE Boost is the first dedicated bank account for bettors.
Increase Cash Access: On/Offline with $250k/day debit limits
No Integration or Costs: Compatible today with all operators via VISA debit rails
Incremental Non-Gaming Revenue: Up to 1% operator rebate on transactions
Lower Costs: Increase debit throughput to reduce costs against ACH/Wallets
Eliminate Chargebacks and Disputes
Eliminate Debit Declines
Built-in Responsible Gaming tools
To learn more, contact Matthew Cullen, Chief Strategy Officer, Matthew@edgemarkets.io
