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Coolbet Sportsbook Review

Why Coolbet?
  • Aims to provide the best betting odds
  • Very fast withdrawals processed in 6 hours
  • The first transparent online sportsbook
Covers Gold Seal
Payout Speed:
0-3 days
BetSmart Logo BetSmart Rating: 3.8
Bonuses & promotions
Banking & payout speed
Key features
Security & trust
Customer support
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Coolbet Review

Learn more about this unique and transparent betting site in our full Coolbet review!

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Coolbet launched in 2016 with an online sportsbook and an online casino. The Estonian-based network originally targeted European and Scandinavian markets but is getting quite popular in Canada. Coolbet comes with a modern interface and offers a high level of transparency where bettors can actually see what bets the bookmaker is taking.

Hits & misses

  • $200 welcome bonus for Canadian users
  • Rich schedule for live betting
  • Award-winning mobile sports product
  • Reduced sportsbook margins of just 2-3%
  • Great coverage of international sports and events
  • Limited working schedule for customer support
  • Doesn’t currently offer live streaming of matches
  • Not that many Coolbet Sports promotions

Coolbet bonuses & promotions

Since Coolbet Sports offers reduced margins so that bettors benefit from better odds, the sportsbook doesn’t have that many bonuses and promotions.

Sign-up bonus
The Coolbet welcome bonus for Canadians is actually very impressive. It is a 100% match on your first deposit that only requires the Coolbet bonus code CAD200. The bonus funds will be added to the balance right away and the winnings can be withdrawn after betting the bonus six times at minimum odds of -200 (1.50).

On-going promotions and bonuses
There is an entire list of boosted odds at Coolbet Sports. These markets come with improved odds and promise better returns. You can browse all of them on the dedicated page on the site. The operator will also launch limited promotions around big events from time to time. Most deals consist of risk-free bets for selected leagues.

Coolbet deposits & withdrawals

Deposit options
The cashier now supports banking in CAD and also comes with several online payment methods that are popular among Canadians.

Deposit Method Fee Process Time Minimum Deposit
VISA Logo FREE Instant $10
Mastercard Logo FREE Instant $10
Maestro Logo FREE Instant $10
Interac Logo FREE Instant $10
paysafecard Logo FREE Instant $10
MuchBetter Logo FREE Instant $20

Withdrawal options
Coolbet has some of the fastest withdrawals you can find. Most requests are processed within six hours if the account is fully verified.

Withdrawal Method Fee Process Time Minimum Withdrawal
VISA Logo FREE 1-3 Banking Days $20
Mastercard Logo FREE 1-3 Banking Days $20
Maestro Logo FREE 1-3 Banking Days $20
Interac Logo FREE 1-3 Banking Days $20
Bank Transfer Logo FREE 1-3 Banking Days $20
MuchBetter Logo FREE Within 24 hours $20

Coolbet key features

The Coolbet Sportsbook definitely has some unique features that can actually help bettors make better selections and win more money. It is known for its innovation and transparency.

Live betting

Live betting is of course available from this award-winning online sportsbook. The LiveBet Lobby is always filled with markets and betting lines. The user-friendly interface allows clients to easily browse the most popular events for the top sports and place instant bets on live betting odds.

Early cash out

Many events are eligible for early cash out at Coolbet Sports. You can use the feature from the dedicated Cash Out tab on the betting menu. Here is where you can view your active bets and the option to cash out at the current rates. An early cash out can be used to guarantee a win on your bet before the event reaches its natural conclusion.


Although many sports betting sites nowadays have a few casino games included on the platform, the Coolbet Casino is actually outstanding. The online casino can be accessed from the same account and it has around 1,200 games in total. This massive library has all of the best slots, along with many table games and other options.


Coolbet joined the Microgaming Poker Network in 2018. The Coolbet poker room still has its elegant design while benefiting from the good traffic that comes with the network. New players are eligible for up to $2,000 in bonuses when joining the action. There are also other poker promos and rewards to claim here.

Complete transparency

Coolbet claims to be the first fully transparent online sportsbook. It allows registered users to see players statistics, incoming bets, and recent winners. For example, you can select hockey and see the actual turnover for the big games. Check out how the other users are betting and how much money is at stake.

Coolbet sports available

Coolbet covers most of the sports that bettors can ask for. There are only a few missing from the list but this shouldn’t be a major concern.

15 active markets including:

Horse Racing
Motor Sport
Ice Hockey
Table Tennis
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Coolbet bet types

Coolbet is one of the top sportsbooks in Europe. so it accepts all types of bets commonly placed on sports. From the classic pre-game lines to alternative spreads, Coolbet has it all.

  • Spread
  • Moneyline
  • Total
  • Props
  • In-play / Live betting
  • Futures
  • Parlays
  • Teasers
  • Asian handicap
  • Derivatives
  • Alternative spreads
  • Alternative totals

Coolbet security & license

Covers Security Badge

Coolbet offers encrypted connections at all times. It uses 128-bit keys to keep users safe and their personal details private. The site is operated by Polar Limited, a company with a registered address in Malta. It is licensed and regulated by the Malta Gaming Authority. The sportsbook also promotes responsible betting and encourages users to always "stay cool".

Malta Gaming Authority

Coolbet customer service

The customer support at Coolbet is definitely quick and very useful. However, it gets a lower rating in our Coolbet review because the service is only open from 2 am to 7 pm ET. Phone support has also been closed indefinitely and so the best contact option is via Coolbet live chat.

  • Live chat available 2 am - 7 pm ET
  • Email:
  • Phone: n/a
  • Support languages: English + 7 others
  • Twitter: @CoolbetCanada

Coolbet mobile app

Coolbet won the award for Mobile Sports Product of the Year in 2020 and that is saying a lot. Although the sportsbook doesn’t have native apps for mobile devices, the entire website has been designed to run on different platforms. As a result, mobile bettors can access the same betting options and features directly from their smartphones and tablets. The Coolbet mobile sportsbook is fully compatible with iOS, Android, and Windows.

Coolbet review conclusion

Coolbet Sports may not be as popular as other online sportsbooks in Canada but it definitely deserves to be checked out. It has won multiple awards for its excellent services and innovative features.

User-friendly site
The sportsbook interface makes everything seem very familiar and it is easy to navigate the many sports and markets available. Everything is just a few clicks away and even beginners can feel welcome here.

Top mobile sportsbook
For bettors who place a lot of bets on the go, Coolbet Sports is definitely one of the best options out there. The mobile site is very secure and it allows you to place bets within seconds, from any location.

Unique features
Coolbet is definitely unique in some aspects. It allows users to see recent bets and easily copy them onto their own tickets. There is also an increased transparency for the turnover on pre-match markets.

Coolbet FAQs

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