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Coolbet Review

What is said about Coolbet?

Coolbet is one of the newest names in the online betting world, with the Estonian-based company created in 2016. Breaking into the competitive world of online betting can be difficult for a new name, but Coolbet hope to provide a different gambling experience to persuade punters to choose their site.

Transparency is the main goal of Coolbet. That affects everything they do, from the easy navigation of their website to the way that they show you the betting turnover on certain markets. Coolbet also host a wide range of casino games, facilitate several payment methods and deliver effective customer support.

While they may be the new kid on the block, Coolbet is already doing many things as well as the more established names. Because Coolbet is an emerging bookmaker that is predominantly geared towards a Scandinavian user base, there are only three reviews of the site on Trustpilot - two of which gave Coolbet five stars.

However, don't worry that user testimonials are currently in short supply. If Coolbet keeps up its policy of transparency, it will keep attracting new players. For now, read on in our Coolbet review to determine if this is the bookmaker for you.

What is our experience with Coolbet?

Coolbet's sports betting landing page could easily belong to one of the more established bookmakers, which is testament to its logical layout and sleek design. Sports and competitions are listed in a menu on the left, with the matches and odds taking centre stage. While the overall aesthetic of the site is cool and modern, it isn't always immediately clear what event or market the odds relate to, perhaps a result of trying to pack too much into their Sports Lobby.

The Livebet Lobby neatly filters events down to in-play markets, while the Incoming Bets tab is a nice touch that shows you where other punters' money is going in real-time. However, the cricket section of the Sports Lobby leaves a lot to be desired. When we were conducting our Coolbet review, there were only betting options for two Test matches and a solitary MSL T20 game. There's greater depth in their football betting options, but Coolbet has work to do in becoming bettors' go-to site for cricket.

Coolbet's casino options are much better; that is, if you live in one of the regions that can access Coolbet's casino games. Coolbet is registered in Estonia, where the gambling authorities only have jurisdiction in certain foreign regions. Most bookmakers are generally licensed in the UK or Malta to give them a much stronger platform from which to expand. 

Currently, Coolbet only accepts new casino players from Canada, Chile, Estonia, Finland, Iceland, Norway and Sweden. Those that can access the Coolbet casino page will be treated with high-quality slots from companies like NetEnt and Yggdrasil, while there are also live casino and poker games. If you do have any questions about whether you can play at Coolbet or not, then their customer support team are there to answer your queries as quickly as possible.

Is Coolbet a Fraud?

For a site that has made transparency its main selling point, it would be quite the surprise if Coolbet was a fraud. While it might not be licensed in one of the traditional locations, that isn't a bad thing when it comes down to security and reliability. Estonia's gambling authorities are renowned for being among the strictest in the world.

That may stop Coolbet from expanding into new territories at the same rate as other bookies, but it does mean that users can bet with the knowledge that their funds are secure. Estonian authorities require gambling operations to set aside a fixed pot of money that kicks into action if anything happens to the funds in Coolbet users' accounts. Secure payment methods like Visa and Mastercard should also reassure Coolbet users that their money is in good hands.

We can also look at the usual indicators of whether an online gambling site is trustworthy or not. The footer of Coolbet's homepage proudly displays the logos of Evolution Gaming, Yggdrasil, Microgaming, NetEnt and Play'n GO. These are some of the biggest names in iGaming - they wouldn't lend their products to a site if they had concerns about its integrity. Also, you can be certain that slots and table games from these providers adhere to all of the required rules, such as the stipulation that the random number generator that drives a slot be truly random.

Coolbet Betting Markets

As we mentioned earlier in our Coolbet review, the scope of betting markets is currently a weakness for this up-and-coming site. Currently, Coolbet primarily caters for a Scandinavian market, so there is a clear focus on European sport. However, there is a significant lack of depth and variation of its cricket betting options. Cricket is one of the most popular global sports, so it shouldn't matter that there are limits on who can register at Coolbet.

If there is to be a successful Coolbet India site, then these cricket markets will evidently have to develop in size and variety. Coolbet also needs to work on offering markets further in advance. One area of strength for Coolbet's betting markets is the extent of its coverage of English football, which even includes matches in the fifth tier of the English game. Yet on a weekend where there are no matches in League One or League Two (England's third and fourth tiers), it is impossible to find anything to do with those leagues.

When fixtures in those leagues are just a few days away, you can bet that they will be available on the Coolbet site. However, Coolbet currently doesn't cater for the bettor who plans in advance, while even a temporary absence of certain competitions can cause confusion in terms of navigating the site. There is also a scarcity of outright options. To use English football as another example, punters can only back the outright winner in the Premier League. Considering that the Championship also has global appeal, this could be an issue for potential Coolbet users.

One argument against offering lots of markets is that quality is prioritised over quantity, that Coolbet would rather deliver a few competitive markets over several poorly-planned options. Yet that argument doesn't hold up when a sport as popular as cricket is almost entirely neglected.

Coolbet Odds

This is an area where Coolbet shines, because of its novel incoming bets feature and the way that it displays betting turnovers. The Incoming Bets tab of the homepage shows what is hot among Coolbet punters, displaying how much is being staked in bets on particular markets. Don't worry, your personal information won't be on show - your bet would only be displayed with your national flag. This feature helps you to determine which bets the Coolbet community believe to be good value and allows you to match their bet with one simple click.

Registered Coolbet users can click on a match to see the betting turnover. This will show you how much has been staked in total on the various outright possibilities of an event, as well as the breakdown of where that money has gone. This is great for rookie punters who want to learn about betting trends, as well as veteran bettors who enjoy analysing shifts in odds.

With this level of transparency, you can be confident that Coolbet will keep offering competitive odds. While their lack of competitions is a disadvantage for many bettors, it does inspire confidence that the markets which are present at Coolbet are being carefully cultivated for the benefit of the punter.

Coolbet Live Betting

Coolbet offer in-play options for matches in their specialised Livebet Lobby. With football as an example, users can adapt to changing circumstances in the match, whether betting on the outright winner or the total number of goals. However, these live betting options can feel like a reprisal of the pre-match options, rather than markets tailored for in-play betting.

For example, something like a 'next goalscorer' or 'time of next goal' would be well received by most bettors. Coolbet do offer the option to bet on player bookings in special matches, such as some of the most anticipated Premier League clashes on a weekend. Once more, Coolbet have prioritised quality over quantity in their approach to live betting. While this is great if you do want to dive into the bookings markets, it can be frustrating for punters who are accustomed to having more choice at their fingertips. 

Coolbet Casino

We mentioned it earlier in our Coolbet review, but the list of game developer affiliates on the site is worth repeating: Evolution Gaming, Yggdrasil, Microgaming, NetEnt and Play'n GO. These are all names synonymous with high-quality casino gaming, while the inclusion of Yggdrasil is particularly notable. This developer has a strong base in Scandinavia and has been on the rise in the past few years, which makes Yggdrasil the perfect partner for Coolbet's casino.

Yggdrasil are famous for producing online slots steeped in historical and fantasy lore, from the Vikings series to the Dark Vortex slot. These Yggdrasil games deserve a wider audience, which would ideally include Coolbet India players. Until Coolbet opens its site to Indian users, Yggdrasil's games may go underappreciated.

Live Casino

Evolution Gaming is the name in the list of partners that is most famous for its live casino games, which means that Coolbet has an array of stylish and engaging games at its disposal. Live casino is a genre booming in popularity, where games like roulette and blackjack are streamed in real-time to people's computers or portable devices. This genre will only continue to grow, so it is good that Coolbet have got involved with live casino at this stage.

Again, it comes with the caveat that these live casino games are only accessible to players in certain regions - bad news for prospective Coolbet India members!

Coolbet Poker

Coolbet poker players have the option to keep the action firmly in their browser or to download software onto their computer. The following poker variants are currently available:

  • Texas Hold’em
  • Omaha
  • Omaha High/Low (Omaha 8-or-better)
  • 7-Card Stud
  • 5-Card Stud
  • 5-Card Draw
  • Razz

The Coolbet Poker FAQ page tackles many of the questions regarding variations in poker terminology, so Coolbet caters for its poker players well.

Coolbet Bonus Promotions

Coolbet have a range of bonus promotions that sound enticing at first for new users, but their strict wagering requirements may make it difficult to unlock bonus funds. The size of the bonuses is fair, but they are harder to access than at other bookmakers.

It's also worth pointing out at this stage that the site only accepts euros, Canadian dollars, Norwegian krone and Chilean pesos.

Betting Bonus

Those new to the Coolbet sportsbook can gain a 100% match on their first deposit, up to a maximum value of €100 - be sure to enter the code SPORTS100 upon registration to unlock the bonus funds. The minimum deposit is €10, and the sports bonus must be wagered 6x at odds of at least 1.50 before any bonus funds can be withdrawn. You'll have to complete the bonus requirements within 30 days, while deposits from e-wallets like Neteller and Skrill won't qualify for this sign-up offer.

The €100 match is inviting, although the 6x wagering requirement is fairly steep as welcome offers go.

Casino Bonus

The casino bonus can frequently change, although it will consist of a matched deposit like the sports bonus. However, unlike the sports bonus, casino bonus funds must be rolled over 50 times before withdrawal. To compound that issue, not all games qualify for play with bonus funds - make sure you check out the Coolbet FAQ before you get swept up in the excitement.

The 30-day limit applies again, although there is a seven-day time restriction on any free spins granted to Coolbet users. Any winnings from those free spins then have to be wagered 50x within a seven day period. Normally welcome bonuses look to persuade new users to keep coming back, but these aggressive wagering requirements may act as a deterrent for future Coolbet India users.

Poker Bonus

The poker bonus at Coolbet works differently from the sports and casino bonuses. According to Coolbet's terms and conditions, "rake is an amount of money taken by the House from all players as payment for hosting the games". The more rake you generate, the better your poker bonus.

€/$10 Get €/$1 in bonus for every €/$5 you pay in rake 
€/$50 Get €/$5 in bonus for every €/$25 you pay in rake 
€/$250 Get €/$10 in bonus for every €/$50 you pay in rake
€/$1000 Get €/$20 in bonus for every €/$100 you pay in rake
€/$2000 Get €/$40 in bonus for every €/$200 you pay in rake

You'll have to enter a new bonus code for each level of staking, while the maximum bonus amount must be accumulated within 60 days.

Deposit Methods

Coolbet facilitate deposits and withdrawals via the following methods:

  • Visa
  • Mastercard
  • Trustly
  • Skrill
  • Neteller
  • Paysafe

These methods are all free to use and produce instant deposits into a user's account. Payouts take slightly longer; while e-wallets Skrill and Neteller are instantaneous, the other forms of withdrawals could take between 1-3 banking days. Bank transfer is also an option for Coolbet users.

The main criticism that can be directed at Coolbet's payment options is the lack of PayPal, but this payment method is yet to become commonplace even among the biggest names in online betting. And of course, as mentioned above, they accept a limited range of currencies. Otherwise, Coolbet deliver the goods when it comes to secure and speedy payment options. 

Coolbet Live Streaming

There are currently no live streaming options for Coolbet users. This is hopefully something that could be rectified before any potential launch of Coolbet India, but the site's streamlined gambling operation suggests that live streaming may not be a priority for this bookmaker.

Coolbet App and Mobile User Experience

The Coolbet app is a logical extension of the bookmaker's browser site. The app deploys the same colour scheme to create the same aesthetic as the Coolbet website, while the general system of navigation remains the same. Users have to negotiate a string of menus to find their desired competition, or they can use the search function to optimise the process.

The app makes it possible for Coolbet members to place their bets quickly on in-play events, all while on the move. It can be downloaded on both iOS and Android, although the same geographical restrictions apply as on the browser site. As a whole, the app fulfils its purpose well. Betting apps are generally expected to require efficient services on the most popular events, so Coolbet's lack of variety in markets is less noticeable in the app.

Coolbet's general mobile user experience is highly acclaimed, with the Estonian site triumphing in the 'Mobile Sports Product of the Year' category at the International Gaming Awards in February 2019. Coolbet fended off the challenge from veteran bookmakers to claim the award, which is fair praise for the bookmaker's simple-to-use and easy-on-the-eye mobile site.

Customer Support

Coolbet's customer support operation is impressive. You can tell that this new site has recognised the value of effective communication with consumers to make a mark in the world of online bookmaking. Here are the ways to interact with Coolbet's customer support team:

  • live chat, available between 08:00 and 00:00 Central European Time (CET) - during these hours, there is a member of Coolbet's customer support ready to personally deal with queries, with an average live chat queue of 15 seconds
  • email address, which is useful for questions that fall outside of live chat operation time
  • phone number
  • FAQ page, which covers many of the most popular queries and problems that online casino users may have

The team all have their own image listed alongside their name on the Coolbet customer support page, a nice touch that reinforces the personal connection between punter and bookmaker, as well as their commitment to transparency. The FAQ page is broken down into sensible sections (Sports FAQ, Casino FAQ, Bonus FAQ), but it is lacking the detail of some bookmakers' equivalent pages. The page could also be improved with a dedicated area for technical support.

Our Conclusion and Rating

Considering it has only been in business for a few years, Coolbet has a lot going in its favour. You don't win at the International Gaming Awards by accident, so its mobile site is clearly impressive. Coolbet offers a wide variety of high-quality casino games, while customer support and payment methods are other areas of strength.

However, it is impossible to recommend Coolbet as a primary location for cricket betting. There aren't enough markets and bettors are unable to bet on outright events weeks in advance. With no live streaming and strict wagering requirements to unlock bonuses, Coolbet fall short in comparison to many bookmakers.

Most importantly, Coolbet only remains accessible for punters in a few locations. If Coolbet India ever launches, hopefully it arrives with friendlier bonuses - and a lot more cricket markets.
Our Coolbet review gives this bookmaker a rating of 2 out of 5 stars.