Coolbet

About Coolbet

Coolbet operates as the business-to-consumer (B2C) arm of GAN Limited, providing an online platform for sportsbook, casino, and poker. Founded in 2015 by iGaming veteran Jan Svendsen, who previously founded NordicBet, the company was established with the goal of creating a sportsbook centered on transparency and a superior user experience.

The company's journey began in Tallinn, Estonia, with an initial focus on Northern European markets. It has since expanded its footprint to serve customers in Canada and several Latin American countries, including Chile, Peru, and Ecuador. A significant milestone occurred in January 2021, when GAN Limited completed its acquisition of Coolbet's parent company, Vincent Group, for approximately $175.9 million. Following the acquisition, Svendsen continued to oversee the B2C operations.

Coolbet's business model is centered on providing real-money online gambling services directly to players. Revenue is generated from the net win from players' wagers, also known as Gross Gaming Revenue. The platform operates on proprietary technology developed entirely in-house, which allows for greater flexibility and control over its product offerings. This includes a team of over 50 odds compilers who develop tailor-made sportsbook products. A key differentiator is the platform's transparency; it displays anonymized data on incoming sports bets, allowing users to see what others are betting on in real-time and even copy a bet with a single click.

The platform offers a comprehensive suite of products. The sportsbook provides a wide array of betting options with a focus on competitive odds. The online casino features thousands of games from more than 60 different providers. Additionally, Coolbet offers a poker client that includes private tournaments and the 'Coolbet Open,' a live poker series. The company has received numerous industry accolades, including being named 'Start-up of the Year' in 2017 and winning multiple International Gaming Awards for its mobile products and innovation.