The online gaming and sports wagering brand, operated by Gan, known as Coolbet, has declared it will be exiting the regulated Ontario market on the third of April. This follows just one year of operations.
The company, headquartered in Estonia, stated it will be ceasing deposit options for all Coolbet accounts commencing on the twenty-first of March. Coolbet is urging users to utilize their remaining funds to engage in services after this date if their account balance is low, or to replenish their balance to withdraw all funds.
This is due to the implementation of a minimum deposit amount for withdrawing funds – the minimum deposit amount using the Interac payment platform is C$1, and the minimum deposit amount using the Trustly payment platform is C$0.01.
“We strongly advise you to withdraw your funds as soon as possible,” Coolbet stated in a message to users. “If you have not initiated any withdrawals previously, we will request you to verify the bank account utilized to pay out your remaining balance. Once you have applied for a withdrawal, kindly review your email for further instructions on how to finalize the verification.”
The company declared it will close its casino and sportsbook at the conclusion of the subsequent day (the twenty-second of March). If players’ wagers have not been settled before the deadline, because the outcome is still uncertain – including futures and parlays – Coolbet stated the wagers will be nullified and reimbursed.
Coolbet is closing its online platform and mobile application on the 3rd of April. If you have any funds remaining in your account, you should reach out to them via email.
Coolbet was acquired by GAN in January of 2021. GAN paid $175.9 million in cash and shares for the business. GAN stated at the time that this would make them a complete service provider for real money gaming in the US. They also mentioned it would make them a rival in some global markets.
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