Coolbet Ontario Review

Legal in Ontario
Licence number: OPIG1231572

In 2020, Coolbet won the Mobile Sports Product of the Year award. Does the operator still deserve this award in 2022?

  • Sports Coverage4.0/5
  • Odds Quality4.1/5
  • RTP4.0/5
  • Safety & Fairness4.0/5
  • User-Experience3.9/5
Pros
  • Standing Out Live Betting Section

    Live betting has become so common among online sportsbooks that it is rarely a special feature, however, Coolbet’s wide selection of live betting markets makes it stand out.

  • Multiple Customer Support Options

    Bettors can reach out to the support team at Coolbet Canada via live chat, phone call, and email chat, 7 days a week which is more than you can say for most competitors.

  • Wide Sports Coverage

    There is no shortage of sporting events and leagues at Coolbet. The bookie offers the most popular picks plus a good number of niche sports.

  • Swift payout speed

    Payout speed is one of the main factors players consider when choosing an online bookie. Thankfully, Coolbet impresses in this area. On the site, players can be sure to receive withdrawals instantly, though payments can take up to 3 days via card transfers.

Cons
  • No Live Streaming service

    Bettors at Coolbet won’t be able to stream live matches even when betting live.

  • No Loyalty Program

    Coolbet doesn’t include any loyalty program. While it isn’t a necessity for a sportsbook, it does make it more attractive.

  • No mobile app

    Unlike top sportsbooks in Canada, Coolbet fails to offer a dedicated mobile app for Android and iOS users. Instead, the site provides a mobile optimized website which is quite sufficient for mobile gaming.

Product offer
  • Sports
  • Live Betting
  • Casino Online
  • Poker
Deposit methods
Withdrawal methods
Compatibility

Coolbet Ontario review by Canada Legal Betting experts. Up-to-date study on the bookmaker’s offer including opinions, comparisons, odds margin data & more.

How Coolbet Works?

FeatureAvailability
Number of sports>25
Number of markets>200
License numberOPIG1231572
Live bettingYou can bet live on games in Football, Tennis, Golf, Basketball, Soccer, Baseball, Hockey, and more.
Live streamingNo 
Customer supportExceptional customer service with several means for customers to reach out (live chat, e-mail or phone call).
Special featuresBet builder, combo bet, boosted odds, cashout
Mobile applicationNo dedicated betting app for mobile users

Coolbet is a fun-filled betting site created to impress sports betting fans and casino lovers in Canada. We visited the platform and found some interesting things to say about it.

First off, we were totally impressed with the sheer number of sports events on Coolbet. Unlike other bookies with limited numbers of sports, Coolbet takes things up a notch by offering over 25 sporting events and diverse leagues to stake on. Whether you’re looking to bet on football, basketball, ice hockey, or formula 1, there are tons of tournaments to look forward to.

Coolbet’s impressive payout speed is also something worth mentioning. Most payments on the platform are processed instantly though some withdrawals can take up to three business days.

But it’s not all hits without misses as Coolbet also has some areas it fails to meet our standards. For starters, the platform doesn’t offer a live streaming service. The live streaming feature allows players to enjoy the best of sports betting as they get to watch live games as they happen.

Unfortunately, Coolbet doesn’t offer such service yet which is a huge deal-breaker for us. Mobile players on Coolbet also have to stick with the site’s mobile website as there are no dedicated apps available at the moment.

While this can be easily ignored, the presence of a mobile app would have made online betting more enjoyable for users on Android and iOS.

Generally, we believe Coolbet has all the right features to keep sports bettors glued to their seats. There are more than enough sports to bet on and a diverse selection of betting markets available across all sporting events.

canada legal betting exlamation
Our expert opinion on Coolbet sportsbook

Coolbet Sports Ontario Overview 

Launched in 2016, Coolbet Sportsbook is one of the fastest-growing sportsbooks thanks to its sports offerings that match the competition in every way. The bookie has been operating legally in Canada since 2019, and officially acquired a gaming license in Ontario in 2022.

Coolbet Canada has made notable improvements to its sports betting platform since its launch. It has also expanded its sports coverage with 25+ sports events to bet on all year round. There is no shortage of betting markets on each sports event.

There are great odds on Coolbet. The sportsbook offers reduced margins which gives bettors better odds and a higher chance of winning their bets. In this area, the bookie does stand as a much more attractive choice. 

Probably the most outstanding features the bookie has to offer are its cash out, bet builder, and boosted odds features. Each area offers bettors easier ways to hit green on their slips.

User Reviews

Coolbet is an all-inclusive betting platform used by millions of players across the globe. For some players, Coolbet is the best betting site ever, but for others, the platform doesn’t stack up to their taste. In this section, we’ll highlight some of the opinions shared by users about the sportsbook. 

Positive Reviews 

“Good odds, very trusted and customer friendly staff. Nice colours, nice option where you can lock your withdrawal. One of the best nowadays”@Jason

This comment from Jason clearly indicates that Coolbet ticks all the right boxes when it comes to online sports betting.

“I played coolbet for a while now
its really awesome site and i like odds very much
just yesterday withdrew 800$ and i got it on my bank account in less than 24 hours
great overall
[…] – @Kristian

Looking at this message from Kristian, we can conclude that Coolbet handles withdrawals in the shortest time possible. Normally, bank transfers on other platform take up to 7 days to be processed.  

Negative Reviews 

“This trash recently was approved to be used in my province. Lets start off with the MASSIVE red flags that it needs to know your location every 5 minutes and if it cant verify it your banned. The deposit methods are horrendous, as for withdrawal? Who knows no one i know of the circle of friends who used it since launch have ever won anything and the guy that did had his winnings taken because of “system errors.” @Lalo G

This message says a whole lot about Coolbet. We hope the support team addresses all the issues stated by Lalo.  

“I was live betting NHL games yesterday and made $1271CAD. The next day this money was stripped from my account due to “system issue” causing “palpable error”.
Absolute joke.
Willing to provide screenshots if anyone is interested to prove what I am saying is true.”
@Calum

While we have our doubts about this comment, we’re sure the support team at Coolbet will take this issue up. 

How To Use Coolbet Sports?

Despite its few lapses, Canadian players on Coolbet are assured of an exciting betting experience in the sportsbook section. Here are some impressive sports betting features to expect.  

Bet Builder

Coolbet’s bet builder feature is an outstanding feature that allows players to merge multiple betting markets within the same event. The more markets you add to your bet, the higher your payouts if everything turns green.

Cash Out Early

Coolbet is among the leading sportsbooks that offer players a chance to cash out on single or multiple bets. With this feature, players don’t have to lose all their wagers made on certain games. Simply click the “Cash out” button for bets not going as expected. Bets that support the feature will be indicated by a button on the ticket.  

Live Betting 

Coolbet features around-the-clock live betting which allows players to wager on matches happening in real time. The live betting feature is available on popular sports like basketball, ice hockey, soccer and many more. A tap of the “LiveBet Lobby” on the main menu will take you to the live betting section.

Here is how Coolbet’s the most common sports features availability looks like in comparison with other legal bookies in Ontario:

CoolbetBwinBet365 Unibet
Cash Out YesYesYesYes
Bet Builder  YesYesYesYes
Live Stats YesYesYesYes
Live Streaming NoYesYesNo 
Live BettingYesYesYesYes

Sports Betting Online At Coolbet

Coolbet Ontario offers pretty much every sport imaginable as a part of its sports category. Among its sports offers, you will find the most popular leagues like NHL and NFL as well as less popular betting options like snooker, darts, Aussie rules, and handball.

Pros 

  • Extensive betting markets 
  • Wide sports coverage 
  • Nice selection of eSports

Cons 

  • No props on hockey games 
  • No live streaming

When it comes to sports betting at Coolbet, here are the most popular sports events:

Hockey | Average Odds Margin: 15.05%

coolbet review hockey

Coolbet’s hockey online betting section is a lot more extensive than what other bookmakers have to offer. As usual, you will find online betting markets on the NHL, but there are also offers on the AHL. Moving from North America to other countries, the bookie allows bets on leagues in Finland, Norway, Germany, Sweden and more.

When it comes to betting markets, there are more than enough. You can make use of Moneyline, Totals, Spread, Draw No Bet, Home-Tie-Away, Double Chance, and more (check our guides on specific types of online bets). The odds on each game can be mind-blowing in some cases or just about the same with every bookie out there. 

Basketball | Average Odds Margin: 11.49%

basketball coolbet

Nothing screams basketball more than the NBA, but you don’t always have to look towards the biggest basketball league in the world when placing your bets. Coolbet offers other smaller leagues from Spain, Argentina, Austria, and Brazil. 

Within each league are numerous basketball betting online markets against very competitive odds. You can start your gaming session with the likes of spread, total points, money, and totals.

Baseball | Average Odds Margin: 7.39%

coolbet review baseball

Baseball betting on Coolbet Ontario is mainly on the MLB though you will find betting options on NCAA Baseball and the Mexican League. Betting markets on Baseball are just as robust as other sports events. The bookie offers moneyline, run line, totals, and player props. 

Soccer | Average Odds Margin: 3.14%

coolbet review soccer

Soccer is the biggest game in the world with numerous leagues which translates to a never-ending supply of betting options for soccer lovers.

At Coolbet, you can bet on just about every soccer league that exists on the planet. From the biggest names in Europe to the lesser-known leagues in South America. 

You can also bet on African leagues and international competitions. The Canadian Premier League and the MLS USA are given special attention on Coolbet.

All sports leagues, popular or not, offer an extensive selection of betting markets. You will find home-draw-away, total goals, spread, draw no bet, double chance, both teams to score, and many others.

Football | Average Odds Margin: 2.13%

Football is America’s sport, but it sure draws a crowd in Canada. The NFL remains the top league and the only offering on Football at Coolbet. You also get to bet on the NFL Hall of Fame Game and NFL Drafts if you wish to take the risk on such bets.

Betting markets on regular NFL games include moneyline, spread, totals, futures, and props. To learn more, read our guide on how to bet on NFL in Canada.

We compiled Coolbet’s odds margin against leading online bookies in Canada. Here are our results:

SportsbookNFLNHLMLBNBAEPL
Coolbet0.06%11.73%4.47%9.27%-12.76%
FanDuel41.75%-14.20%32.77%-13.68%2.24%
Bet3659.72%-9.53%32.58%-3.69%0.03%
Unibet18.39%3.40%37.79%2.63%-6.50

Live Betting

Live betting is one of the main attractions at Coolbet Sportsbook. If you want to catch the game while it is in play, there are a wide variety of sports to choose from. Top picks like basketball, baseball, hockey, soccer, football, tennis, and golf are always available for live betting once the game is in play. Several other sports options are limited but they do pop up once in a while.

Live betting gives you the chance to watch your wagers and improve your position with the flow of the game (learn more). The cashout feature is limited on bets made while the game is in play so you might want to be more decisive on your bets to minimize your losses.

When compared to other bookies in the industry, Coolbet Ontario is on par. Live betting is available in major sports with a well-planned live betting section that allows you to easily navigate through the betting markets and place your best bets in the nick of time.

Pros

  • Live betting available in tops sports
  • Wide selection of betting markets 

Cons 

  • Cash out feature is limited

Live Streaming

Unfortunately, live streaming is one of the areas Coolbet is looking to make improvements on. Presently, there is no live streaming feature on the platform. As the brand expands, we’re hoping it would include live streaming as part of its offers. The likes of Bet365 rule the industry in this regard. 

Bet365’s live streaming feature is available to new and eligible customers, allowing you to watch your bets unfold as well as make better decisions on your live bets. Bet365 streams over 140,000 events live to your PC in a single year giving you coverage of top games in the soccer leagues and the likes of the Masters Series Tennis tournaments. 

To be eligible to use the live streaming service, bettors must have funded their account or placed a bet in the last 24 hours. Hopefully, Coolbet can boost the in-play excitement with this feature and announce itself as a serious competitor in the industry.  

How To Bet At Coolbet Ontario?

  1. Create a player account

    To place a bet at Coolbet Ontario, you will have to register an account. Once registered, your account will have to be verified before you can start betting.

  2. Choose your sports and game

    With your account fully registered, navigate to the sports section. Choose your preferred sports and league. From here, you can choose to bet on pre-game wagers or go to the live section to check which games in the league are playing live.

  3. Choose your betting markets

    Once you’ve found your preferred games. Click on the odds you wish to add to your bet slip. Above the odds, you can find the betting market which tells you the outcome you’re betting on.

  4. Place your bet

    You can add several games from different leagues and sports to your bet slip using a combo bet. When you’re done adding the games you want, go ahead to place your bet.

Coolbet Casino Online Offer

Coolbet has its sportsbook and casino offerings on one platform making it easy for fans of both to switch between both options. Checking out the casino, we found about 600 games to choose from featuring the best of slots, table games, and live casino.

Operator’s casino games come from the top providers in the industry. This means you get only the best games with the best quality. We checked out each software provider and found the likes of PlayN’Go, Evolution Gaming, Relax Gaming, QuickSpin, No Limit City, NetEnt, Red Tiger Gaming, and Microgaming offering the bulk of its casino games. 

Pros

  • Hundreds of live dealers games – When it comes to live dealer games, you’d probably find less than 50 titles at other online casinos. Coolbet stands out in this regard giving you hundreds of options so you never have to wait till someone leaves the table. 
  • High RTPs – The RTP (return to player) of a game refers to the winning possibility of a game. This is represented as a percentage. The closer to 100 percent the RTP is, the higher your chances of winning on every bet. Coolbet offers RTPs that are significantly higher than other casinos. 

Cons 

  • No free play – Free play allows you to familiarize yourself with the game and its rules before throwing real money at it. This helps to reduce losses for most players. Unfortunately, this feature isn’t available at Coolbet.

Types Of Coolbet Casino Online GamesSlots

Slots

slot games

Slots take up more than 50 percent of the game offers at Coolbet Casino. We counted each one and found over 300 games to choose from in this section. New games are usually introduced so you can expect that number to go even higher by the time you start playing.

Checking the casino lobby, you will find tons of slots with the RTP boldly written on them. As we’ve said, the RTP gives you insight as to how profitable your spins will be. The closer to 100 percent, the better for your player balance. The Tombstone RIP, Immortal Romance and Dazzle Me features the most appetizing RTPs.

Table Games

There are many variations of these table games to choose from. If you’re all about strategy, then you would love the table game section. Here, you can walk away a winner taking a shot at the Blackjack table or maybe you fancy a gaming session in the Baccarat session.

Roulette is also available though this game is all about luck. The abundance of options does increase your chances as some games tend to offer more luck than others.

Live Casino

videopoker

The live dealer section is bustling at Casino Coolbet. You will find regulars like blackjack, roulette, and baccarat, however, the coolest offers here are somewhat rare at other online casinos. You can start with your choice of Coolbet poker or try to get lucky with other tiles like Monopoly Live, Dream Catcher, Crazy Time, and Super Sic Bio.

The live casino section is actually packed with hundreds of games thanks to Evolution Gaming. As usual, you will find the RTP of each variation displayed on the game.

How To Sign Up At Coolbet In Ontario?

Creating a player account at Coolbet is very easy and straightforward. The bookie gets a thumb up for offering a one-page registration process which saves them.

For most people, registering an account will take less than 5 minutes. Keep in mind that you need an active mobile number to receive your verification SMS and verify your account.

  1. Visit Coolbet Ontario

    In your browser, visit the Coolbet Ontario website and click on the Register button.

  2. Enter your details

    Provide your details – email, password, and mobile phone (this will be needed to verify your account). Choose your country and preferred currency.

coolbet register
  1. Agree to the terms and register

    Tick to confirm that you’re at least 19 years old and agree to the terms, privacy policy, and cookie policy. When done, click “Register”.

  2. Verify Your Account

    Once registered, you will receive a verification SMS. Enter the verification SMS in the box provided to verify your account. With that done, you’re fully registered at Coolbet.

Coolbet Sport Mobile App

For a bookie that won the award for Mobile Sports Product of the Year in 2020, it might come as a surprise that Coolbet doesn’t offer a native app...

Well, that shouldn’t worry you, because we checked and found its mobile platform to be an even better offer. You won’t find any Android or iPhone app for Coolbet sportsbook or casino, but you get a fully-optimized mobile betting platform. This can be accessed straight from your mobile browser on your iPhone, Android and Windows device:

coolbet mobile app

Checking out the mobile site, we have no complaints. Placing bets as well as live wagers was quite easy. Performing other activities like making payments or playing casino games was just as seamless. The mobile platform simply mimics the desktop site but this time, it gives you the freedom to bet on the go.

Pros

  • User-friendly mobile betting
  • Optimized for iOS, Android, and Windows devices 

Cons 

  • No native mobile app

Coolbet Payment Methods

Now, let’s take a deeper dive into payment methods available at Coolbet sportsbook

Deposit

Payment ProviderTypeMinimumFeeProcessing Time
MuchBetterE-walletC$10FreeInstant
InteracBankC$10FreeLess than 1 hour
Visa/MasterCardCredit/Debit CardC$10FreeInstant

Payout

Payment ProviderTypeMinimumFeeProcessing Time
MuchBetterE-walletC$20FreeInstant
InteracBankC$20Free1-3 bank days
Visa/MasterCardCredit/Debit CardC$20Free1-3 bank days

How To Withdraw Money From Coolbet?

  1. Request a payout

    Make sure you’re logged into your account and click on the payout button at the top right-hand corner.

  2. Choose a payout option

    Choose a payout option. Coolbet requires that you withdraw to the same method/account you deposited from. Once you’ve made your choice, follow the instructions to make your withdrawal.

  3. Wait to receive your funds

    Depending on the withdrawal method, you can receive your payment instantly or within 3 banking days.

Coolbet Customer Support

Coolbet Sportsbook Ontario offers several means for customers to reach out for help. First off, you should check the FAQ section. This will provide you with info on payment methods on deposits and withdrawals, and much more. If you want to get in touch with an agent, there are several methods available. 

You can reach out via email chat, phone chat, and live chat on the platform. Considering the available options, we would have ranked Coolbet as one of the best bookies out there when it comes to customer support. 

Unfortunately, there is an issue with reliability. Coolbet customer support is not available 24 hours a day though customers will get help 7 days a week. This isn’t welcomed, especially for a bookie that hopes to compete with the top dogs in the industry.

Regardless, the response time on the support options does redeem the casino image. Using the live chat, we did get a fast response. The email support took a couple of hours. On average, you should expect a reply in two hours. Phone chat was swift and the easiest option of all. 

Overall, Coolbet’s support system is almost flawless with the exception of not being available 24 hours a day. 

Operating Hours 

  • Monday – Sunday: 2 am – 7 pm
  • Phone Support: 2 am – 7 pm

Customer Support Options

  • Live chat: Typically replies in 15 seconds
  • Email Support: support@coolbet.ca, typically replies in 2 hours 
  • Phone Chat: +3726751562

Responsible Gambling

While gambling is all fun and games, some people tend to get addicted to the thrills it offers. This can lead to a serious addiction problem that could have repercussions on your mental health and finances. Coolbet prevents this from happening in several ways.

For example you may:

  1. Set limits on your account

    These limits can be on your deposits which will stay in place for a time period.

    For example, if you set a deposit limit of $1,000 for 60 days, and you make that deposit in a week, you won’t be able to make another deposit until the 60-day period elapses.

    This prevents you from chasing losses and you get to cool down till you’re ready to bet responsibly.

  2. Run a self-assessment test

    You will be asked a series of questions related to problem gambling or gambling addiction.

    Your answers to these questions will help you determine if you need professional help before it becomes a serious problem.

  3. Use the specialists’ advice

    Within this section, you will find useful info on how to control and overcome gambling addiction as well as prevent it from ever occurring.

    There are also links to help organizations dedicated to helping people with gambling addictions. You will find their contact information within this section, so you can get the help you need.

Our Verdict

Coolbet Ontario is no doubt a solid bookie for Canadian bettors. We found the bookie to be on par and even more advanced than most of its competitors in the industry. There are some areas that it does wonderfully well in our opinion. The sports coverage and betting markets will be stunning to any player.

While the bookie is great in many areas, it still needs improvement in some. Its customer support is professional and reliable but players still need that 24-hour support it is yet to offer. Also, live streaming will be a welcomed addition to its betting features. This feature might be added in the future, so we’re definitely hopeful.

Overall, Coolbet is a superb betting platform with well-rounded betting offers for sports bettors and casino players alike.

FAQ

Launched in 2016, Coolbet is an online casino and sportsbook offering bettors a chance to have fun and win while at it. This bookie offers a wide selection of sports events plus hundreds of casino games which ensure that the fun never stops.

Since Coolbet is a legal bookie with the right licenses to show, this makes it a legal operator. In Ontario where it requires a license, Coolbet is one of the 16 bookies with a gaming license operating in the Ontario iGaming market.

To withdraw from your player account on Coolbet, log into your account and click the payout option. Choose your preferred payout option which should be the same as your deposit option. Follow the instructions and enter the amount you wish to withdraw (the minimum withdrawal amount is 20 CAD). Click to withdraw.

Coolbet does not offer an IOS or Android app at this time. This means you won’t find a Coolbet app for its main service or Coolbet Ontario. In its place, there is a responsive mobile website that replicates the functionality of an app. It will adjust to suit your screen size while still giving you access to the bookie’s betting on the go.

No. Coolbet Ontario is a legit sportsbook and casino. The bookie is not yet as popular as some of the biggest names in the industry, but it still remains one of the top picks for serious bettors. Most users have no complaints about the bookie and have left positive reviews about their experience.