Coolbet Leaving Ontario in April, Other Operators In Crowded Market May Follow

Written By C.J. Pierre on March 22, 2023 - Last Updated on March 29, 2023
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The legal Ontario online casino and sports betting industry will celebrate its one-year anniversary on April 4, but one notable operator won’t be there for the party.

Coolbet will be leaving the Ontario online gaming market in early April.

The company, based in Estonia, will still be available outside of Ontario in Canada’s sports betting grey market. However, the operator has no plans to enter the US sports betting market.

With Coolbet’s exit in an already crowded market, could more operators also choose to make their way out of Ontario?

What Coolbet’s exit means for players

The Coolbet online sportsbook and online casino turned off all deposit options on March 21 before closing its gaming operations on March 22. Bets with unknown outcomes will be voided and refunded.

“We strongly encourage you to withdraw your funds as soon as possible,” the operator said in a blog post. “In case you have not made any withdrawals before, we would require you to verify your bank account that will be used to pay out your remaining balance. Once you have requested the withdrawal please check your email for further instructions on how to complete the verification.”

The sportsbook is also waving play-through requirements for bonus funds, allowing customers to withdraw remaining bonuses as cash. The website and mobile app will shut down on April 3, when its registration with iGaming Ontario expires.

Amanda Brewer is the Canada country manager for Kindred Group that operates Unibet in Ontario. She spoke on the Gaming News Canada podcast about what Coolbet leaving the Ontario market could mean for other operators.

“There are a lot of costs that come with being in this market,” said Brewer. “And if you are a smaller operator, if you are an operator who didn’t have any grand market presence ahead of time, if you’re an operator that didn’t come in equipped to manage all of this then I think it’s going to be unfortunate, but Coolbet is probably not going to be the first operator we see exit.”

Will more sports betting sites leave Ontario?

Coolbet was among the first wave of operators to launch in Ontario in April 2022. At that time, there were 17 mobile apps or websites available. However, the market being that small in size didn’t last long.

With Coolbet’s departure, there are over 46 live gaming operators running some 70 gaming sites.

Ontario’s ultra-competitive market

Ontario’s sports betting and online casino market is the only one of its kind in Canada. However, the competitiveness of Ontario’s online gambling market could mean that Coolbet’s exit from Ontario is just one of several.

Mansion Group, a Gibraltar-based company with two casinos licensed in Ontario under the ‘casino.com’ and ‘mansioncasino.com’ brands, is seemingly planning to leave the province at the end of this month. Mansion has made no formal announcements about leaving Ontario. But one customer who tried to deposit funds at ‘casino.com’ was sent a letter telling them not to because the company will be ceasing operations at month’s end.

There are signs of a trend building. Some smaller operators in the province may be feeling a financial pinch. Operators must pay about a fifth of their revenue, along with a $100,000 annual regulatory fee for each site. Those and other costs can add up, especially for smaller operators.

List of Ontario live gaming operators:

NumberOperatorLaunch Date
1.888April 4, 2022
2.Amazon SlotsLate 2023
3.Apollo Entertainment
(Captain Cooks, Casino Classic, Golden Tiger Casino, Grand Mondial Casino, Luxury Casino, Yukon Gold Casino, Zodiac Casino sites)
Oct. 28, 2022
4.Bally BetJuly 20, 2022
5.Bet99Oct. 31, 2022
6.Bet365April 4, 2022
7.BetanoOct. 17, 2022
8.BetMGM Casino OntarioApril 4, 2022
9.BetRivers Casino OntarioApril 4, 2022
10.BetsafeMarch 2, 2023
11.BettyMarch 10, 2023
12.BetVictorSept. 27, 2022
13.BetwayAug. 1, 2022
14.bwinApril 12, 2022
15.Cadtree
(Jackpot City, Royal Vegas, Jackpot City, Ruby Fortune, Spin Casino sites)
Aug. 10, 2022
16.Caesars Palace Casino OntarioApril 4, 2022
17.CanPlay CasinoOct. 28, 2022
18.Casino DaysJan. 24, 2023
19.CasumoOct. 28, 2022
20.ComeOn!June 13, 2022
21.ConquestadorJan. 10, 2023
22Deal Or No Deal CasinoFeb. 17, 2023
23.Delta BingoEarly 2023
24.DraftKings Casino OntarioMay 18, 2022
25.FallsviewAug. 4, 2022
26.FanDuelApril 4, 2022
27.FitzdaresFeb. 6, 2023
28.High Flyer CasinoDec. 8, 2022
29.LeoVegasApril 4, 2022
30.Lucky CasinoNov. 24, 2023
31.Lucky DaysNov. 2, 2022
32.Mansion Casino
(Play-ON casino.com, Play-ON mansioncasino.com sites)
Nov. 2, 2022
33.NorthStar BetsMay 9, 2022
34.PartyApril 12, 2022
35.PinnacleOct. 25, 2022
36.PointsBetApril 4, 2022
37.PokerStars Casino OntarioJune 28, 2022
38.PowerPlay Casino OntarioApril 2023
39.Proline (OLG)*August, 2021
40.RivalryApril 4, 2022
41.Rootz
(Wildz Casino Ontario, Caxino, Spinz,Wheelz Casino Ontario)
Feb. 2, 2023
42.Royal PandaApril 4, 2022
43.SkillOnNet
(PlayOJO Casino Ontario, Slots Magic Casino Ontario, SpinGenie, KnightSlots sites)
June 13, 2022
44.Spin AwayNov. 2, 2022
45.Sports InteractionAug. 29, 2022
46.Stardust CasinoLatter half of 2023
47.STXJuly 26, 2023
48.theScore BetApril 4, 2022
49.TonyBetApril 2023
50.TWHG
(Casigo, Casimba, DreamVegas, FireVegas, Gate 777, Hello Casino, Jackpot Village, Playzee sites)
April 4, 2022
51.UnibetApril 4, 2022
52.Video Slots Ltd. (Video Slots, Mr. Vegas)June 19, 2023
53.WSOPSept. 30, 2022
Photo by Coolbet
C.J. Pierre Avatar
Written by
C.J. Pierre

C.J. Pierre is a Lead Writer at Play Canada. He has been covering news and sports for over a decade for both online and TV broadcasts. He was born and raised in Minneapolis, MN and is an alum of Minnesota State University: Moorhead. He recently dove into tribal casino and online gambling news. He also covered the launch of sports betting in Arizona. C.J. has experience as a reporter and videographer and has covered high school, college and professional sports throughout his career, most notably following Arizona Cardinals, Phoenix Suns, Minnesota Vikings and North Dakota State University football.

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