Coolbet prepares to bid Ontario market farewell in April
Brand leaves one year after gaining its iGO license
Online sportsbook Coolbet has announced that it is withdrawing from the Ontario market next month.
Coolbet will stop offering its services in the Canadian province after Apr. 3, one year after the brand began operating under an iGaming Ontario (iGO) license.
Before that, Coolbet was only available to residents of Ontario via a licence from the Malta Gaming Authority (MGA).
But a transition process will now take place for the brand to leave the Ontario market.
The first step will occur on Mar. 21, when Coolbet turns off all deposit options. Players with low balance left in their account will then have two options; to 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 coolbet.ca 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.”