Coolbet prepares for Ontario online casino market exit

Ontario skyline
Image: Shutterstock

Coolbet has announced that it will be exiting the igaming market of Ontario by the start of April, one year after the market itself launched.

GAN’s online casino and sports betting brand didn’t state why it was exiting the Canadian market in a post on its website, but it did say it would stop offering its services in the province by the end of the day on 3 April.

Coolbet, who also has gaming licences in Estonia, Sweden and Malta, will begin its Ontario shutdown process on 21 March by turning off all deposit options.

Customers will have the option of either using up all of their existing funds on bets and games, or withdrawing their funds, with the minimum withdrawal amounts being CAD $1 for Interac, and $0.01 for Trustly.

The brand will then close its online casino and sportsbook by the end of the day on 22 March, with customers’ bets that still don’t have an outcome by this time being voided and refunded.

This includes futures and parlays, of which if any of the outcomes result is not known, the part of that parlay will be voided and odds set to 1.00.

Bonus funds will then be fully unlocked from wagering requirements on 23 March.

By the end of the day on 3 April, Coolbet will shut down its Ontario website and mobile app.