Coolbet confirms April exit from Ontario

Exit sign
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Coolbet, an online sports betting and casino brand of GAN, has revealed it will be leaving the Ontario market next month.

The operator entered the newly regulated market last April under an iGaming Ontario (iGO) license, having previously been available to residents via a license from the Malta Gaming Authority (MGA).

But Coolbet has now confirmed that it will pull out of the Canadian province completely by the end of Apr. 3.

Ahead of that date the brand will implement a transition period to tie up all loose ends.

First, Coolbet will turn off all deposit options on Mar. 21, leaving players with low balance left in their account a decision to make; to either use up all of the existing funds on bets or casino spins, or to top up the balance to withdraw all of the funds. The minimum withdrawal amounts are $1 (Interac) and $0.01 (Trustly).

Then, on Mar. 22, its casino and sportsbook will close. Bets that cannot be settled by then because the outcome is still unknown will be voided and refunded. This includes futures and in parlays; if any of the outcomes result is not known the part of that parlay will be voided and odds set to 1.00.

Furthermore, any bonus funds will be fully unlocked from wagering requirements on Mar. 23.

The final step happens on Apr. 3, when the website and mobile app will be shut down.

Coolbet’s statement concluded: “Thank you for all the good times, and always remember…Stay Cool. Bet Responsibly.”