Coolbet Ontario Sportsbook Review February 2023
The Coolbet Sportsbook is about to go live in Ontario on April 4, 2022! Online sports betting in Ontario is taking off with the legalisation of single-event betting on your favourite sports. Soon, you will be able to bet on your favourite teams, including NHL, NBA and NFL betting, as well as many more.
The Coolbet Ontario Sportsbook App: Coming Soon
Coolbet Ontario Sportsbook: Pros and Cons
Is Coolbet Sportsbook Currently Available in Ontario?
Coolbet isn't available in the Ontario sports betting market right now. Every Ontario betting site needs a licence to operate in this regulated market. However, we believe that Coolbet ON could soon gain licensing and go live in the near future. You can stay updated on this situation by following our Canadian gambling news.
The Coolbet Ontario Sports Betting Review
Coolbet has been serving the unregulated Canadian sports betting market since 2019. It's now interested in becoming one of the legal Ontario betting sites.
We can't say for sure features Coolbet will provide in Ontario. However, we have some examples of what they provide elsewhere, which we'll cover throughout this review. Specifically, you'll find out what to expect regarding Coolbet's reputation, odds, features, markets, banking option and more.
Overview of Ratings for Coolbet Ontario
- Overall Sportsbook Reputation 5/5
- Quality of Odds vs. The Competition 5/5
- Noteworthy Sportsbook Features 3/5
- Market Variety and Bet Types 5/5
- Deposit and Cash Out 4/5
- Mobile App Design & Performance 5/5
- Security & Trust 5/5
- OVERALL RATING: 31/35
1. Overall Sportsbook Reputation 5/5
Licensed with the Malta Gaming Authority, Coolbet launched in 2016 and has been nothing but reputable since then. It has a strong commitment to responsible gambling and offers knowledgeable 24/7 customer support. For good measure, Coolbet is an award-winning operator that captured "Best Mobile Sports Product" in 2020 (IGA Awards).
2. Quality of Odds vs the Competition 5/5
Coolbet develops in-house odds that are sometimes more favourable than the rest of the market. This situation can especially be true with regard to live betting, where oddsmakers must make quick decisions. That said, you can generally enjoy good prices here, especially if you focus on in-play betting.
3. Noteworthy Sportsbook Features 3/5
This online sportsbook doesn't offer any revolutionary features. It also doesn't provide live streaming, hence why we took some points off. Coolbet does, however, have an adequate number of features. It gives you the option to cash out bets early and also maintain helpful lobby navigation options.
4. Market Variety and Bet Types 5/5
We honestly want to give Coolbet a 6/5 in the market variety category. It's not only one of the best Canadian betting sites in this category, but also one of the best in the world. It covers 37 markets at the time of this writing. For comparison's sake, the average online sportsbook covers 20–24 sports. We normally consider it impressive if an operator offers 30 markets–let alone 37.
5. Deposit and Cash Out 4/5
This online sportsbook features six deposit methods and six withdrawal methods—both fairly average numbers. You can deposit with Visa, Mastercard, Neteller, Trustly, Skrill and bank transfer. The minimum deposit and withdrawal are both $10.
Normally, we'd give Coolbet a middle rating in this category. However, its withdrawals are so quick that we had to give it a 4/5. Coolbet sometimes processes cashouts within hours, meaning you can get payouts in 0–1 days with e-wallets.
6. Mobile App Design and Performance 5/5
Again, Coolbet won IGA's 2020 Mobile Sports Product of the Year award. It has a stellar layout, great functionality and runs lag-free. Simply put, Coolbet should be one of the best Ontario mobile sportsbooks.
The only catch is that Coolbet doesn't offer an app. We don't know if this will change and it'll feature a sports betting app in the Ontario market. Even without an app, though, Coolbet still shines in this category.
7. Security & Trust 5/5
Coolbet processes withdrawals quickly, boasts solid customer support and has won an award. This trifecta earns it a perfect rating in the security and trust category. It also holds licensing in Malta and could soon gain licensing and become one of the new betting sites that could enter the Ontario market.
Coolbet Ontario Closest Competitors
Coolbet ON will certainly face fierce competition once single-event sports betting goes live in Ontario. Let's take a look at some close competitors:
Comparison Summary
Bet365
- Favourable odds in some markets
- Lots of banking options
- Reputable brand
Betway
- User-friendly app
- Good features
Unibet
- Trustworthy brand with long history of success
- Many deposit and withdrawal methods
Coolbet would be competing with the likes of Bet365, Betway and Unibet in Ontario. These are all successful and notable brands, although maybe not in the absolute top tier of Ontario. We see Coolbet stacking up well to each of these competitors.
The Coolbet Ontario Sportsbook Top Features & Experience
- ⭐ Dozens of betting markets
- ⭐ Quick withdrawals
- ⭐ Self-assessment test for responsible gambling
Nobody beats Coolbet in the market variety department, as it covers an outstanding 37 sports. Coolbet also shines regarding processing speed, which means your winnings will reach you must sooner. This is the first online sportsbook we've seen that offers a self-assessment test to determine if you're an at-risk gambler
Popular Sports Bets at The Coolbet Ontario
Coolbet Sportsbook offers all the common bet types that are available at other top-tier online sportsbooks. You can enjoy anything from moneylines to futures bets here. The most-popular bet types at Coolbet Ontario would include:
- Moneyline - Highly popular and common, a moneyline calls you on to correctly pick the match winner. Of course, the favourite and underdog have different odds.
- Spread - With a spread bet you wager on either the favourite or underdog covering their respective point total.
- Totals (over/under) - A totals bet is a bet on two teams collectively scoring over or under a given point total.
- Live bets - A live wager comes up in the middle of a game and is usually only available for a few moments.
Mobile Sports Betting Experience with Coolbet
This mobile sportsbook lives up to its award-winning status by offering a user-friendly layout and smooth functionality. We experienced no lag when moving from section to section. Helpful options are available, such as a search bar, bet recommendations and popular leagues. The latter lets you quickly move between MLB, NFL, NHL and NBA betting with no trouble.
Depending upon your preferences, you may want a Coolbet sports betting app instead of in-browser wagering. Unfortunately, no Coolbet app is available at this time. We don't really see the need for an app, though, when considering how well the in-browser version works.
The Coolbet Ontario: How to Register and Play
Ontario bettors can quickly get started at Coolbet through the following 4 steps:
- ✅ Select the Register option.
- ✅ Enter your email, password, phone number, country and currency.
- ✅ Confirm your age and agree to the terms and conditions.
- ✅ Enter your name, address, birth date and complete registration
Can You Download The Coolbet Sportsbook App in Ontario?
Coolbet doesn't offer an app at this time. We don't know if this situation will change when Coolbet enters the Ontario iGaming market. However, Ontario users should be just as happy with the stellar in-browser betting at Coolbet.
Depositing and Withdrawing Money at The Coolbet Ontario
You can deposit at Coolbet through major credit cards and e-wallets. You have to fund your account with at least $10 to play. Withdrawals are available through major credit cards and e-wallets, along with bank transfer too.
Deposit & Withdrawal Options:
How to Deposit and Place your First The Coolbet Ontario Wager:
- ✅ Make sure that you're registered.
- ✅ Visit the cashier area.
- ✅ Choose one of the payment options.
- ✅ Enter how much you want to deposit.
- ✅ Verify the transaction.
The Coolbet Sports you can Legally Bet on in Ontario
You'll have access to more markets at Coolbet than anywhere else. Of course, North American favourites like MLB, NBA, NFL and NHL betting are available. What separates Coolbet from the pack, though, is its more-obscure markets. It covers less-common sports, such as:
- Badminton
- Curling
- Futsal
- Lacrosse
- Rally (cars)
- Speedway
- Volleyball
We don't know if all of these markets will be available at Coolbet Ontario. Whatever the case may be, though, lots of options should be at your fingertips.
The Coolbet DFS Betting in Ontario
Coolbet doesn't cover daily fantasy sports. Instead, it offers casino games and online poker in addition to sports gambling.
The Coolbet Sportsbook in Ontario vs Other Provinces
Ontario is the first province to legalize and regulate single-game sports betting (versus just parlay bets). Therefore, it already has a first-mover advantage on future provinces that'll legalize single sports bets.
Ontario also has an advantage over other provinces regarding its size (14.6 pop. million) and economy ($860 million). In short, Coolbet stands to make far more money in Ontario than any other province. It'll be putting a lot of focus on this market if it gains licensing.
The Coolbet Official Partners in Ontario
Coolbet may partner with local Ontario sports teams when/if it launches. After all, developing partnerships with pro sports franchises is common in legal betting markets. When the time comes, potential partners could include the Toronto Blue Jays, Maple Leafs, Raptors, Argonauts and FC.
The Coolbet Betting Locations in Ontario
Coolbet doesn't have any retail sportsbooks in Ontario. In fact, no traditional brick-and-mortar sportsbooks exist in the Land of a Thousand Lakes. The Ontario Lottery's PROLINE is the closest thing since it sells lottery-style sports betting products in this province.
Operators with a major land-based presence, such as Caesars and BetMGM, may open Ontario retail locations someday. However, we don't see Coolbet opening retail betting anywhere in the Canadian market.
Legal Sports Betting at The Coolbet Ontario
Coolbet is selective on where it operates, currently serving Canada, the Scandinavian market and a few South American countries. It now looks to add the province Ontario to the list. As covered earlier, this online gambling site will need an iGaming Ontario license first. Assuming Coolbet gets approved, it'll be able to legally serve this province.
You'll have to be at least 19 years old to place your first deposit and bet here. Furthermore, you'll need to be within Ontario's borders before depositing and betting.
Other Ontario Sportsbooks Expected to Launch in 2022
If Coolbet launches in Ontario, it'll join a crowded market that includes many big names. Some other notable operators that'll be launching Ontario sports betting sites this year include:
- 888sport
- Bet365
- BetMGM
- BetRivers
- Caesars
- DraftKings
- FanDuel
- LeoVegas
- PointsBet
- PROLINE (part of Ontario Lottery)
- Royal Panda
- TheScore Bet
- TonyBet
- Unibet
Responsible Gambling with the The Coolbet Ontario Sportsbook
The Canadian Gaming Association is a major advocate of responsible gambling and implements certain standards that each operator must follow. Therefore, Coolbet and other Ontario online sportsbooks must have strict protocols in place to protect gamblers.
Coolbet won't need to make any adjustments in this regard when transitioning to Ontario. It offers every responsible gambling tool under the sun, plus the rare self-assessment test. You can see all of these tools below:
- Self-assessment test - Take a test to determine if you're in the danger zone regarding problem gambling.
- Loss limit - Set a limit on how much you can lose over a certain time period
- Deposit limit - Limit how much you can deposit here over a certain period.
- Time Out - Temporarily exclude yourself from Coolbet's sportsbook, casino and online poker for a while.
- Permanent exclusion (by Coolbet) - Coolbet reserves the right to permanently exclude anybody they think has a serious gambling problem.
Our The Coolbet Online Sportsbook Ontario Verdict
Coolbet Sportsbook offers unique propositions that not every Ontario operator has. First off, it covers more markets than pretty much every online sportsbook in the industry It also has some of the fastest withdrawal processing anywhere. The lack of live streaming is a notable downside. However, Coolbet is still a very worthy option when considering its impressive selection and payout speed.
Coolbet Sportsbook ON FAQs
Is The Coolbet legal in Ontario?
No, Coolbet is not available in the Ontario market yet. This Canadian province features a regulated and requires operators to hold licensing. However, Coolbet has gained licensing elsewhere and could soon do so in Ontario.
When will Coolbet launch in Ontario?
The Ontario sports betting market launches on April 4, 2022. At this point, any operator that holds licensing with the Alcohol and Gaming Commission can launch a sports betting site. Coolbet doesn't currently have a license, but it may obtain one soon. After gaining approval, it can go live in this province.
Why choose The Coolbet sportsbook in Ontario?
As stressed in our Gambling.com review, Coolbet excels in two key areas: markets and payout processing speed. It covers 37 sports, as opposed to 20–24 by the average mobile sportsbook. As for processing payout request, it sometimes does so in just a few hours.
Where can I use The Coolbet sportsbook in Ontario?
Assuming Coolbet Ontario becomes available, you'll be able to bet at it anywhere within the province. The key, though, is that you're within Ontario's borders when placing wagers. Coolbet and other ON operators will use geolocation software to make sure you're not located elsewhere when betting.
Can you bet on football at The Coolbet Ontario?
Yes, Coolbet offers a wide range of football odds for both college and NFL betting. You should find hundreds, or even thousands, of football betting opportunities at Coolbet each week during the fall.
What is the minimum age to wager at The Coolbet ?
Coolbet requires that all sports bettors be at least 18 years old. However, it also notes that players must be mindful of and follow their local jurisdiction's laws. For Ontario sports bettors, this means being at least 19 years old to legally place wagers.
What are the banking options for The Coolbet Ontario?
Coolbet accepts deposits through Visa, Mastercard, Trustly, Neteller, Skrill and Paysafecard. You need to deposit at least $10 to wager here. This bookmaker allows withdrawals through Visa, Mastercard, Trustly, Skrill, Netller and bank transfer.
