Coolbet bows out of Ontario this April

The initial rush for sports betting and gaming opportunities in Ontario, Canada has quieted down a little and as the dust settles, some operators have decided to take their leave from the market – once touted as the potentially most lucrative iGaming market in North America. Coolbet, a prominent operator, has revealed that it will be among the companies to wind down operations in the province and not be available from April onwards.

Coolbet confirmed the news last week, saying that it would not offer any Ontario sports betting starting early in the next months. All deposit options will be shutting down on Tuesday, March 21, and gaming operations will wrap up on March 22. The company is pulling the plug on the mobile app and its web-based version on Monday, April 3.

The company has urged consumers to withdraw their funds "as soon as possible." Any outstanding payments will be honored, but the operator expects you to verify your bank account before the company can forward the money. The statement reads:

"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."

Further instructions will be provided to players withdrawing their money via email as they complete their verification. Ontario launched interactive online gambling in April 2022 and it saw an influx of suppliers, operators, and betting companies make a play for the province. Many touted Ontario as the future of iGaming in North America, owing to the province’s population, the largest in a single jurisdiction.

Over the past years, a number of companies have expanded their global reach with an entry in Ontario. Among them is Casumo Casino. Casumo is not the only operator to have done so over the past months. In February, Betsafe became among those to join the regulated gambling market. Shortly after its entry, Betsafe sought to strengthen its responsible gambling policies and practices in the province by teaming up with Neccton.

So far as suppliers go, among the companies to join recently or increase their presence have been BF Games and Greentube, both of which remain firmly focused on the betting and gambling market.

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