Coolbet to Exit Alberta Ahead of Province's Regulated iGaming Launch

Coolbet Confirms Alberta Exit

Coolbet will stop offering its services in Alberta before the new market opens. The company said it will leave because Alberta is changing its online gambling rules. Those new rules begin on July 13 and require operators to follow a new licensing system.

Coolbet has already stopped new player registrations and deposits. Alberta players will lose access to its sportsbook and casino services on July 12. They have until Aug. 31 to withdraw any money left in their accounts. The move comes only days before Alberta opens its regulated online gambling market. It also shows how companies must now decide whether to apply for a licence or leave.

New Rules Change the Market

Alberta wants all online gambling companies to work under the new regulated system. Operators that want a licence must stop offering unregulated services by July 13. Some companies may receive extra time until Oct. 13 in limited cases.

After the market opens, Alberta is expected to take action against companies that continue operating without approval. The goal is simple — move players to licensed casinos that meet the province's rules. Nevertheless, some companies have chosen not to enter the new market.

Coolbet Has Seen These Challenges Before

Coolbet has already worked in a regulated Canadian market. The company entered Ontario when the market opened in April 2022. However, it left about one year later after facing strong competition.

Parent company GAN Ltd. later said high marketing costs and tough competition made profits difficult. Several other companies reached the same conclusion. Those companies included:

• Betiton

• Casumo

• Conquestador

• Fitzdares

• Rivalry

• Unibet

• Wildz Group

Many Companies Still Plan to Enter Alberta

Some operators have decided to stay, while others have chosen to leave. More than 30 operators have already registered with the AGLC, covering over 50 online casino and sports betting brands. The group includes Bally's, bet365, BetMGM, BetRivers, Betway, Caesars, DraftKings, FanDuel, PointsBet, and theScore Bet.

Meanwhile, LeoVegas also decided not to join Alberta's new market. Instead, the company will keep its focus on growing its business in Ontario — showing that not every operator sees Alberta as the right next step.

Hence, Alberta's market launch marks an important moment for Canada's gambling industry. Many well-known brands are ready to begin, while others have decided to walk away. The coming months should show whether Alberta can build a strong and lasting regulated market.