The Estonia-based business announced that it will be discontinuing deposit options on Coolbet accounts starting from 21 March. Users with low balances on their accounts after this date are encouraged to either use the remaining balance on gaming services or top up to withdraw all funds. Minimum deposit amounts will be required for fund withdrawal, set at CA$1 for Interac payment platform users and CA$0.01 for Trustly payment platform users.
Coolbet advised its users to withdraw their funds as soon as possible. If no withdrawals have been made previously, users will need to verify their bank account for payouts of their remaining balance. Once a withdrawal request has been made, users must check their email for further instructions on completing the verification process.
The company further announced that its casino and sportsbook will be closed by the end of the following day, 22 March. In the event of unsettled bets, including futures and parlays, the wager will be voided and refunded.
Coolbet stated that its website and mobile app will be shut down starting from the end of the day on 3 April. Users with remaining balances are directed to contact the business via the support email for further assistance.
In January 2021, igaming solutions provider Gan acquired Coolbet for $175.9m in cash and stock. This acquisition positions Gan as a full-service B2B solutions provider for real-money gaming in the US and a vertically integrated B2C competitor in selected international markets.
