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Coolbet[1] is an online entertainment company producing sports betting, casino, and poker since 2016. Coolbet is the B2C brand of GAN Limited [2], a provider of enterprise Software-as-a-Service (“SaaS”) solutions for online casino gaming, and online sports betting applications.
Corporate history edit
Born in 2015 in Tallinn, Estonia, Coolbet was founded by Jan Svendsen[3], who had built companies in the i-gaming industry, like Nordicbet, Triobet, and Tobet.
Initially launched in Sweden, Finland, and Norway, and followed by Estonia in 2016, the brand advertised itself as the fairest and most transparent gaming site and sportsbook software.
In 2018, the company widened its product portfolio and launched its third product, poker. The first Coolbet Open - an in-person poker tournament organized by Coolbet - was held in Tallinn attracting 317 unique players to the main and 26 side events, creating a prize pool of more than €200,000.[4]
In the same year, Coolbet started to offer its products in Iceland right before the FIFA World Cup.
In 2019, the company entered two new continents: the South American through Chile and the North American through Canada. Peru, Ecuador, and Mexico followed the expansion in the Americas in 2020, 2021, and 2023 respectively.
In January 2021, GAN Limited announced the completion of Coolbet’s acquisition for a total purchase price of €149.1 million (or $175.9 million). One of the strategic reasons for the acquisition was to integrate Coolbet’s proprietary sports betting technology into GAN’s Business-to-Business (“B2B”) technology, expecting broad availability of integrated offerings for the U.S. market.[5] In 2023, Coolbet launched the first Mobile Sportsbook B2B product in the US for the client WynnBet. [6]
Headquarters edit
In July 2023, the company moved to a bigger office with the capacity to accommodate up to 400 people in the Porto Franco area, an office development complex in Tallinn, Estonia.
Products edit
Coolbet owns and operates the coolbet.com website in ten languages via its operational headquarters in Tallinn, Estonia.
Events edit
[7]Coolbet Open is the company's proprietary poker festival held since 2018. The live poker tournament attracts hundreds of players and had its 2023 edition in Bratislava, at Banco Casino.
Awards edit
Coolbet was awarded by the [8]International Gaming Awards (IGA) as “Best Startup of the Year” for the first time in 2017. From 2019, and for three years in a row, was recognized as "Mobile Sports Product of the Year" and by 2021 recognized as "Innovator of the Year" for the first time. In 2022, won the “Mobile Operator of the Year”.
The weekly Danish sports magazine and the oldest football magazine in Scandinavia, [9]Tipsbladet, has awarded Coolbet as “Bookmaker of the Year” for 4 years (2018, 2019, 2021, 2022). Coolbet is the first company to be granted this recognition four times.
In 2023, Coolbet was recognized in the category “Sports Betting Supplier” and won the bronze in the “Operator of the Year” in its debuting nomination for the [10]EGR Nordic Awards.
Coolbet was awarded the Diverse Workplace Label “Respecting differences“ administered by the Estonian Human Rights Centre in 2022.
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References edit
- ^ "Coolbet website".
- ^ "GAN Ltda".
- ^ "Jan Svendsen, Coolbet's founder".
- ^ "Coolbet Open".
- ^ "Coolbet's acquisition by GAN".
- ^ "B2B Sports Betting solution by Coolbet".
- ^ "Coolbet Open: A New Chapter in Bratislava".
- ^ "International Gaming Awards (IGA)".
- ^ "Tipsbladet, the oldest football magazine in Scandinavia".
- ^ "The EGR Nordics Awards celebrate online gaming companies operating in the Nordics region".