Coolbet Ontario Casino & Sportsbook Review
This brand is no longer accepting new registrations from Ontario players. However, below, we recommend more licensed casinos from AGCO and iGO to play securely in Ontario.
Coolbet No Longer Licensed in Ontario
In the list below, we recommend Ontario licensed casinos. Play without having any safety concerns!
A Quick Look At Coolbet
Stay with us, as we will continue analyzing in this review everything you need to know about the casino and sportsbook, games, bets, payment options, safety, and most frequently asked questions coming from real users.
|🎁 Player’s Choice||Easy withdrawal process|
|🎲 Games||More than 2000+|
|⚖️ Gambling Authority||Government of Ontario: AGCO and iGO|
|💻 Casino Software||NetEnt, Play’n GO, Playtech, Nolimit City, Quickspin, Red Tiger, Microgaming, Relax Gaming Big Time Gaming, and more|
|📅 Established in||2016 (2019 in Canada)|
All You Need to Know About Coolbet
Many punters in Ontario were already familiar with Coolbet when it launched in the province in April 2022. The operator had already found great success in the international market when it received a licence from the Alcohol and Gaming Commission of Ontario. In addition to having a licence in Ontario, Coolbet holds permits from several other regulatory agencies, including the Malta Gaming Authority. Coolbet was established in 2016 and quickly garnered a lot of attention as it earned the Start-Up of the Year award at the 2017 International Gaming Awards. More recently, Coolbet added Mobile Operator of the Year in 2022 to its showcase. It’s easy to see why so many sports bettors and online casino enthusiasts choose Coolbet as their go-to online betting site.
How to Sign Up for Coolbet
Getting your Coolbet Ontario account up and running takes about a minute. You can start the process by launching your web browser on your mobile device or PC. Then you can head over to Coolbet and trigger the sign-up form by hitting the yellow “Register” link at the top of the main screen. Once you get to the form, simply follow these steps:
- Enter your email address and mobile number.
- Create a password, select your preferred currency, and acknowledge that you agree to the T&Cs by checking the appropriate boxes.
- Hit the yellow “Register” button at the bottom of the form.
- Enter your full name, gender, date of birth, and residential address.
- Click the “Create Account” button.
- Coolbet will send a PIN via SMS. Enter the PIN in the required field to activate your account.
- Your new Coolbet account is now set up.
Be advised that Coolbet is required by law to verify your age, identity, and place of residence. To do this, you will have to upload an ID picture such as a driver’s licence or passport. This will verify your age and identity. You can then upload a utility bill, bank statement, or any other document with your full name and address.
- Ontario-licensed reputed brand
- Easy withdrawal process
- Competitive pricing to increase betting margins
- No live streaming
- No mobile app available
Coolbet is not only for sports betting; far from it. It hosts a great selection of casino games. Let’s walk together through the casino games of Coolbet.
Once the homepage loads, you will choose if you want to navigate to the broader casino category. A new submenu will appear once you click on it: Casino Lobby, Live Casino, Winners, Feed, RTP Calculator.
You can have a quick look at the biggest categories before you start playing: Provider, New Games, Hot Games, Slots, Table Games, Live Casino, All.
With over 1,200 slot titles, picking the best might take some time. But, no need to worry. Coolbet has put in place a number of useful filters that will help you narrow down the list of your favourite slots. Simply click on filters and make your game choice based on providers, such as NetEnt, Pragmatic Play or Play’n Go, RTP, high-medium-low, maximum win multiplier, volatility, and other features such as megaways, buy bonus, jackpot game, etc.
In this category, the casino library hosts 34 table games offered by one of the following iGaming software studios: Evolution, Switch Studios, Real Dealer, and Play’n Go. Players’ favourites from this category are Scarab Auto Roulette and Turbo Auto Roulette, both with an RTP of 97.3%. The newest additions to the table games library are Premier Blackjack with Buster Blackjack (RTO 99.57%!) and Craps First Person. It goes without saying that you can also enjoy all classic table games, such as Poker, Baccarat, and Roulette and their variants.
Coolbet live casino stands out from the competitors. It has 380+ live tables, Mega Roulette, Dream Catcher, Speed Blackjack, and Lightning Dice, to name a few. Blackjack enthusiasts will be thrilled to discover that Coolbet offers 67 classic blackjack tables!
Coolbet’s bookmaker is the site’s main attraction. Punters appreciate the great odds, fast payouts, and having access to their favourite sports betting market. It also helps that Coolbet supports so many payment methods and banking options.
Seeing how Coolbet was created by experienced sports bettors, it should come as no surprise that the sportsbook features a well-rounded selection of sports and sports betting markets. For starters, they cover all popular North American sports like baseball, hockey, basketball, and football. Some of the other major sports include:
- Horse Racing
But the list of sports doesn’t end there. Coolbet offers plenty of betting action on niche sports too. You can find competitive odds for:
- Aussie Rules
Coolbet even has something for those who like to wager on events other than sports. For example, you can wager on a variety of political propositions as well as entertainment.
It’s worth noting that Coolbet covers a wide range of leagues within each sport it offers. For example, soccer bettors can wager on popular leagues like EPL, Champions League, Bundesliga, and MLS. They can also get odds on dozens of smaller leagues that operate in several countries like Argentina, Colombia, Australia, and Japan.
Once you’ve found the event you want to wager on, you can pore over the extensive betting menu. A typical Coolbet betting menu has a lot more to offer than the standard sides and totals. Some of the most popular wagers include:
- Alternative Spreads/Totals
- Both Teams to Score
- First/Last Team to Score
- Correct Score
- Winning Margin
- Asian Handicap
- Double Chance
In addition to being able to wager on a single outcome, punters can create parlays and combination bets. They can even build customized same-game parlays. For example, you could parlay a CFL Moneyline with the game total. This feature is ideal for Canadian punters who are diligent with their handicapping. Another helpful feature is the cash-out option which enables bettors to settle their wagers before the end of a game. This can help you lock in guaranteed profits. It can also earn you a portion of your stake back if your wager goes up in flames.
The odds at Coolbet are the very definition of competitive. Spreads and totals for mainstream events are often priced at -110, which equates to an odds margin of 4.77%. For those who are new to sports betting, the odds margin is simply a commission that bookies charge when they accept a bet. This is how they make money. Of course, a higher commission means less money in your wallet when you win your bets. This is why it’s important to wager with a top-tier operator like Coolbet with relatively low betting margins. It gives you a better chance of earning a profit.
Unfortunately, Coolbet has yet to incorporate the live stream option. While this is a disadvantage, we are hopeful that the company will make the necessary systems update to offer their customer the whole betting experience.
With this feature, you can cash your bet after placing it and at the end of a sporting event. However, conditions will vary between situations. Please refer to the terms and conditions to understand how the cash-out process on Coolbet works.
With Coolbet, you can generally cash out on single pre-match, single life, and combo pre-match wagers across the major sports leagues.
The online betting site is a licence holder under Ontario’s Alcohol and Gaming Commission. Remember that above all else, you will need peace of mind by betting with a legal and licensed gambling site in Ontario. The site is also very user-friendly, so you can enjoy placing wagers using any device. Moreover, Coolbet boasts one of the most straightforward withdrawal processes in the Ontario betting scene. You will receive the money within 1-3 banking days. If your account is verified, your withdrawal can take about 6 hours, more or less. Finally, Coolbet offers its players significantly competitive pricing to increase their margins.
A few points that could improve players’ satisfaction are the following. First, it does not offer its users the same level of offerings as its competitors. However, the situation might change once the firm has the financial backing to match the offerings of other sportsbook companies. It also lacks a live streaming option. However, it is expected to introduce this as the need for the service continues to grow. Another thing lacking is the introduction of a downloadable mobile app for users to enjoy playing on the go.
Coolbet Mobile Experience
The licensed betting site has yet to launch an app despite the systems and platform. However, the browser-accessed website is compatible and conveniently accessible on different devices and mobile platforms, including iOS, Android, Mac, and Windows, or just any comparatively new device with access to the internet via browsers.
Coolbet’s transaction speeds are fast, something that user reviews confirm. It accepts deposits and withdrawals from several credit and debit cards, bank transfers, and e-wallets. While there are other methods Coolbet does not accept, including cryptocurrency, the available options are convenient for Ontario’s residents.
To deposit money into your betting account, you can choose options that include the following:
- E-wallets: These are a popular means of payment worldwide. While not all brands are jumping at the opportunity to set themselves up to accommodate e-wallets in Canada, you can use companies like EcoPayz, Jeton, and MuchBetter to deposit funds.
- Mail: You can decide to mail your check to CoolBet to deposit money into your betting account.
- Credit Cards: the CoolBet site accepts MasterCard and Visa. A perk of these cards is the transactions are free and instant.
- Bank Transfers/Online banking: This is an old and popular method of depositing money in Ontario that you can use to transfer funds to a regulated sportsbook such as Coolbet.
Many online casinos still struggle with time-consuming withdrawal processes and waiting times. However, Coolbet has managed to bypass most challenges and now boasts one of the fastest withdrawal times, sometimes as low as 6 hours.
This feature makes the company an attractive option in its betting and casino markets. In addition, you can withdraw money using all the deposit methods mentioned above except credit cards.
Online banking is the most convenient and fastest method of withdrawal. All options are free, but you must make a $20 minimum withdrawal.
|Deposit Method||Min. Deposit||Max. Deposit||Deposit Time|
|VISA/MasterCard||C$10||N/A||Up to 10 Minutes|
|Interac e-Transfer||C$10||N/A||Up to 10 Minutes|
|Paysafecard||C$10||N/A||Up to 10 Minutes|
|Withdrawal Method||Min. Withdrawal||Max. Withdrawal||Withdrawal Time|
|PayPal||C$5||N/A||Up to 24 Hours|
|Interac Online||C$5||N/A||1 – 3 Business Days|
|Visa||C$5||N/A||3 – 5 Business Days|
|ApplePayDirect||C$5||N/A||3 – 5 Business Days|
You will receive the money within 1-3 banking days. If your account is verified, your withdrawal can take about 6 hours or so.
Coolbet recently faced some minor issues because of its customer service. The company had not added its service line to the contact page. After several customer complaints, they quickly corrected the problem and are now readily available if a client needs assistance.
You can reach their team via 24/7 live chat, email, or service line.
This information is available on the company’s contact page. It’s worth mentioning that Coolbet is currently ahead of many competitors with its 24/7 live chat assistance option.
|☎️ Toll-Free Number||Not Available|
|📞 Helpline||Not Available|
|💬 Live Chat||Available 24/7|
|⭕ FAQs/ Contact form||FAQS Available|
Questions about the security and safety of an online gambling site inevitably pop up, especially when an operator enters new markets. Coolbet has done everything to ensure that they gain the trust of prospective bettors by following the proper licensing and legal operation channels.
The firm established itself in Ontario, Canada, in 2019, after expanding from its Estonian market, which only targeted Scandinavian and European clients.
While the firm is still on the way to gaining a significant market share like other well-known brands in Ontario, CoolBet is gradually making its way to the mainstream in Canada.
The operator can now run a licensed betting site and casino in Ontario after getting the approval of the Alcohol and Gaming Commission in Ontario.
The firm also has licensing records in its home country Estonia, which takes licensing very seriously. On top of that, the site also has approval and proper licensing from Sweden.
Are you worried about a data breach? CoolBet, has you covered. The firm offers top-level encryption software to provide a sense of safety to its users. Even in its overseas operations, the company’s track record shows it is ready to serve its clients by holding itself up to the high regulatory standards in Ontario.
Coolbet is licensed to operate legally in Ontario, Canada, for the foreseeable future. While the company might be a reasonably new sportsbook and casino in Canada, it has managed to get approval from the strict Alcohol and Gaming Commissions of Ontario.
Its approval helps the authorities and Canadians feel safer wagering with a recognized brand. It also means that the personal information, funds, disputes, and more, are all taken care of and that gamblers have recourse if they run into any issues.
Similar Casinos & Sportsbooks
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The casino and sports site provides a fair and transparent betting platform and focuses on product development. Deposit and withdrawal periods are attractive if you can’t help waiting to receive your winnings. You also stand to benefit from the competitive pricing offered by Coolbet.
Instead of the traditional apps, Coolbet uses a progressive mobile compatible version. This solution can be accessed through your mobile browser and has all the functions available in a typical app. In addition, its web-based design allows the app to be even faster. Follow these simple steps to enjoy access to Coolbet on your device.
Coolbet is perfectly legal in Ontario. It is licensed by the AGCO and is a partner of iGaming Ontario. You must be at least 19 and located in Ontario to use Coolbet.
Dominic is an experienced gambling industry professional of well over a decade across a variety of operational and product roles. He has launched retail sportsbooks and online wagering sites for gaming giants across Africa and Southeast Asia. Much of his content focuses on the North American iGaming scene, specifically the newly licensed Ontarian market, including casino & sportsbook reviews and local gambling laws.