Karsten Wenzlaff, Advisor
August 26th, 2025
Investor Research | April 23, 2025

Image from OSC Retail Investor and Social Media Study Interface
The story goes something like this... Maya wasn't looking for investment advice when she jumped on her phone and started scrolling through short videos when one caught her attention. A young finfluencer explained how he built a portfolio by investing a small amount each week. He showed screenshots, made it sound simple, and wrapped the message in personal success. It felt real and by the end of the clip Maya was thinking about following his exact steps. What she didn't realize was how many others were doing the same, by trusting only a short video.
Social media platforms have become a significant source of financial information for Canadians. According to the 2024 Canadian Securities Administrators (CSA) Investor Index, 53% of investors use social media for investment information (up 18% since 2020). Not surprisingly, among young investors aged 18 to 24, the figure rises to 82%. And to zoom in even further, 46% of investors report encountering investment opportunities on social media (up 17% from 2020).
On April 22, 2025, the Ontario Securities Commission (OSC) revealed their latest retail investor research, 'Social Media and Retail Investing: The Rise of Finfluencers' in collaboration with The Decision Lab. This post is data-driven look at how trust can turn into risk, and what the OSC likely plans to do about it.
The OSC surveyed 655 Canadian retail investors and found:
And those who acted on finfluencer advice, the following behaviours increased significantly:
The survey results suggest that a growing number of retail investors are relying on social media for online financial advisor, and based on their trust of finfluencers, investment advice found on social media often replaces traditional financial guidance which can lead to increased exposure to risk, especially among younger investors who are online frequently.
To better understand how social media and finfluencer content affects financial decisions, the Ontario Securities Commission ran an online study with 1,465 Canadians who use social media. Each person was randomly placed into different groups to see how different types of posts might influence what they would choose to buy in a simulated investment setting. Participants managed a simulated $10,000 portfolio and were exposed to promotional finance content modelled after real social media posts. Here's the rub:
These above results confirmed that exposure to financial content on social media can significantly impact investment decisions, especially among those with less experience.
The OSC ran tests to look at which behavioural interventions could be used to reduce the influence of influencer content including:
The results found that all of the above methods helped reduce the number of participants who purchased the promoted assets but none completely eliminated the influence of the original content.
The OSC's report suggests that the regulator supports continuation of regulatory oversight and targeted interventions to protect retail investors from finfluencer content, especially since social media is now integral to the distribution and/or access of financial advisor. In addition to the various Canadian regulatory guidelines below, the report confirms that authorities should consider additional measures to address these concerns that are now backed by evidence.
While some finfluencers provide valuable insights for investors, others can provide misleading or harmful advice. The OSC's findings are a cause for concern for regulators who are evaluating further oversight measures to protect retail investors from the potential risks associated with unregulated financial advice on social media platforms (or by finfluencers). Learn more about the OSC's study about the Rise of Finfluencers and Social Media and Retail investing.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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April 1, 2025

Image: Freepik/DC Studio
Online platforms have gradually become a major part of entertainment in Toronto. Many players explore digital libraries filled with various options, replacing the experience of physical venues. The range of online casino games has grown rapidly, giving players access to tables, reels, and studios from their own devices. A few titles and game types stand out as the most visited, based on player traffic and game features.
Slot machines are among the most visited online casino games in Toronto. These games usually use RNG (Random Number Generator) systems and offer mechanics such as free spins, bonus features, or expanding wilds. Themes vary from mythology to sci-fi, offering choices for many preferences.
Slots like Big Bass Bonanza, Legacy of Dead, and Starburst have steady traffic. Players can also try newer slots such as Wings of Horus and Witchy Poppins. These games often divide symbols into categories and use combinations like multipliers or scatter triggers to enhance gameplay. Slots are grouped by their volatility and hit frequency, which makes each spin carry different weight depending on the selected title.
Live dealer studios bring a different type of engagement. These sections are visited frequently by Toronto-based players, especially those interested in blackjack, roulette, or game show-style tables. These games are streamed live with real dealers. The goal is to create a bridge between traditional and online gameplay.
The platform offers multiple tables with varied limits and table designs. Gold Saloon tables feature live roulette and blackjack hosted by Evolution Gaming, including versions like VIP Extra, VIP, and Freebet Blackjack.
Players often visit this section during evenings when most tables are active. There are also TV-themed tables based on entertainment formats that allow participation without pre-qualified status or prior achievements. These games are structured to match standard casino rules but with visual additions.
Table-based casino games such as blackjack, roulette, and baccarat are available with RNG outcomes, meaning they are software-based rather than streamed with live dealers. They allow faster play, and some versions are available at all hours without wait times. The player interacts with cards or wheels through a digital interface.
Titles in this category include European Roulette, American Roulette, and Blackjack Classic. Some blackjack versions use side bets or multiple decks, while roulette games may include racetrack layouts and betting histories. These games offer clear rules and direct outcomes, making them suitable for shorter sessions or learning basic game mechanics.
Certain games see more visits because of trends, past popularity, or seasonal updates. In Toronto, demand has been high for Megaways slots and crash-style games. Titles like Gonzo’s Quest Megaways and Buffalo King Megaways consistently appear in rotation across user profiles. These slots use expanding reels and dynamic paylines to change outcomes with each spin.
Other games include digital versions of poker, such as Casino Hold’em or Double Double Bonus Poker. Table variants and digital card games are sometimes revisited by users who alternate between fast and slow-paced games. This section grows steadily with every new addition to the library.
Toronto players tend to explore casino games more actively when different access points are available. This includes demo versions of slots and tutorials for table games. Demo versions are offered for many titles, allowing trial spins without balance changes. These versions match the full version in appearance but cannot be used to place real wagers.
Bonus categories also influence game visits. Welcome bonuses are most often linked to slots, while cashback is sometimes tied to table games. Some users access game categories through VIP-level perks, which grant additional features or versions of standard games. There is also a separation between regular games and progressive jackpot titles. Progressives offer pooled prize options and appear in a separate section of the library.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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March 31, 2025

Image by millerjo via Pixabay
Canada has embraced online gambling with enthusiasm, and players across the country are logging in daily to test their luck and skill. With hundreds of platforms to choose from, Sol Casino has emerged as one of the favorites among Canadians—thanks to its rich game variety, secure environment, and CAD-friendly features. But what games are Canadian players most drawn to? Let’s explore the top casino games dominating the online gambling scene in Canada.
Slots remain the most played games among Canadians. With their fast-paced gameplay, stunning graphics, and huge potential payouts, it's no surprise they take the top spot. Players can choose from classic 3-reel slots to advanced video slots with bonus rounds and progressive jackpots.
At Sol Casino, Canadian players have access to hundreds of slot games from top providers like Pragmatic Play, NetEnt, and Play’n GO. Popular titles include Book of Dead, Gates of Olympus, and Big Bass Bonanza. The combination of exciting themes and fair RNG systems keeps players coming back for more.
Blackjack is a long-time favourite in Canada due to its low house edge and strategic depth. Players who take time to learn basic strategy can increase their chances of winning, making it one of the more skill-based games on any platform.
Sol Casino offers several variations of blackjack, including European Blackjack, Classic Blackjack, and Live Dealer Blackjack. The live tables are especially popular, giving Canadian users the feel of a real casino with professional dealers and real-time interaction.
Whether it’s the sound of the spinning wheel or the thrill of betting on a lucky number, roulette continues to be a top choice among Canadian gamblers. From red vs. black to betting on a single number, this game offers something for both risk-takers and conservative players.
At Sol Casino, players can enjoy multiple formats of roulette, including European, French, and American variants, all optimized for both desktop and mobile play. Live roulette is particularly appealing, offering a genuine casino atmosphere streamed in HD.
Baccarat has grown in popularity in recent years in Canada, particularly with the rise of online live dealer platforms. The rules are straightforward—bet on the Player, Banker, or a Tie—and the pace is fast.
Sol Casino’s baccarat tables are hosted by trained live dealers and feature low, medium, and high-stakes options, making it suitable for all types of players. The simplicity of the game, paired with quick rounds, makes it ideal for both beginners and veterans.
Live dealer games are a fast-growing trend in Canada, and Sol Casino is leading the way with its impressive selection. Canadians enjoy the interactive nature of games like:
These games bring the land-based casino experience to your screen, offering real dealers, real-time outcomes, and live chat functionality.
For those who enjoy thinking through their moves but want faster gameplay than table games offer, video poker is a go-to option. Titles like Jacks or Better, Deuces Wild, and Aces & Faces are widely played in Canada.
Sol Casino provides several high-quality video poker games with clear rules, strategic potential, and crisp interfaces—especially appealing to players who enjoy analytical games.
Canadian online casino players have diverse tastes, but certain games stand out thanks to their excitement, accessibility, and rewarding nature. From the spinning reels of slots to the strategic challenge of blackjack, and the immersive world of live dealer games, there’s something for everyone.
With its massive game library, secure platform, and support for CAD, Sol Casino has positioned itself as a top destination for Canadians seeking fun, fairness, and variety. Whether you're a seasoned player or just starting out, you’ll find your favorite games waiting at Sol Casino.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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March 18, 2025

Image: Freepik
The iGaming industry is one of the fastest-growing sectors in the world, driven by innovation, technology, and changing consumer behavior. As online casinos, sportsbooks, and gaming platforms continue to expand, industry professionals must stay ahead of trends, regulations, and emerging technologies.
This is where an iGaming conference becomes essential. These global events bring together industry leaders, game developers, regulators, and tech innovators to discuss the future of online gambling.
An iGaming conference is a professional event where industry experts gather to discuss the latest developments in online casinos, sports betting, esports, and gambling technology. These events typically feature:
🎤 Keynote speeches from industry giants
📈 Panel discussions on gaming trends, regulations, and market growth
🤝 Networking sessions for operators, affiliates, and service providers
🎮 Exhibitions showcasing the latest casino games and iGaming technologies
💰 Investment opportunities for startups and gaming entrepreneurs
iGaming conferences are held worldwide, attracting thousands of attendees from different sectors of the online gambling industry.
There are several must-attend iGaming conferences that bring together the best minds in the industry. Here are some of the top events:
📍 Location: London, UK
📅 Date: Annual (February)
🌍 Why Attend?
ICE London is the largest iGaming event in the world, featuring thousands of exhibitors, industry leaders, and gaming innovators. It covers casino gaming, sports betting, blockchain technology, and artificial intelligence in gambling.
📍 Location: Malta
📅 Date: Annual (November)
🌍 Why Attend?
SiGMA (Summit of iGaming Malta) is a leading European iGaming conference focusing on gaming regulation, affiliate marketing, and emerging technologies like VR casinos and crypto gaming.
📍 Location: Las Vegas, USA
📅 Date: Annual (October)
🌍 Why Attend?
G2E is the biggest gambling expo in North America, covering both land-based and online gaming innovations. It attracts casino operators, software developers, and investors from around the world.
📍 Location: London, UK
📅 Date: Annual (February)
🌍 Why Attend?
This event is perfect for affiliate marketers and digital advertisers in the iGaming industry. It focuses on SEO, lead generation, and affiliate partnerships for online casinos and sportsbooks.
📍 Location: Barcelona, Spain
📅 Date: Annual (September)
🌍 Why Attend?
The SBC Summit is dedicated to sports betting and online gaming, covering payment solutions, responsible gambling, and AI-driven betting strategies.
Attending an iGaming conference is more than just a business trip—it’s an opportunity to boost your knowledge, expand your network, and stay ahead in a competitive industry. Here’s why you should consider joining:
The online gambling industry is evolving rapidly with new technologies such as:
🔹 Blockchain & Crypto Casinos – Secure and anonymous betting options
🔹 Virtual Reality (VR) & Augmented Reality (AR) Casinos – Immersive gaming experiences
🔹 AI & Big Data in Gambling – Personalized gaming and fraud detection
🔹 Esports Betting – The booming market of competitive gaming wagering
iGaming conferences bring together:
🤝 Casino operators looking for new game providers
🎮 Game developers showcasing innovative casino games
📈 Affiliate marketers seeking profitable partnerships
💳 Payment providers offering secure transaction solutions
🏛️ Regulators & legal experts discussing compliance and licensing
Whether you're launching a new online casino, looking for game suppliers, or expanding into new markets, iGaming conferences help you connect with potential partners and investors.
Industry veterans share their insights on:
📊 Market trends & forecasts
📜 Gambling regulations & compliance
🎰 Game development & innovation
💡 Affiliate marketing & traffic strategies
From AI-powered chatbots for customer support to live dealer studios streaming in 4K, iGaming conferences showcase the latest advancements shaping the industry.
The iGaming industry is constantly evolving, and these trends are set to redefine the future:
More online casinos are integrating Bitcoin, Ethereum, and other cryptocurrencies for fast, anonymous transactions.
With the popularity of games like CS:GO, Dota 2, and League of Legends, the esports betting market continues to expand.
VR casinos offer a realistic gaming experience, allowing players to walk through virtual casino floors and interact with live dealers.
AI is being used to enhance player personalization, detect fraud, and optimize marketing campaigns.
With more players using smartphones and tablets, mobile-optimized casino platforms are now a top priority for operators.
The iGaming industry is one of the most dynamic and competitive sectors in the world. Attending an iGaming conference is an excellent way to stay informed, network with industry leaders, and discover new business opportunities.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Report | Feb 20, 2025

Every year, Crowdfund Capital Advisors led by Sherwood Neiss, publish their annual report based on investment crowdfunding data captured and analyzed. Their report represents one of the most comprehensive views of crowdfunding markets in the U.S. and includes deal activity, trends, insights and analysis. This article shares a few highlights. Download the free 209 page PDF report for a full review of the 2025 State of Investment Crowdfunding.
Investment or Equity crowdfunding continues to demonstrate that it's a powerful capital raising tool for startups and scale-ups, helping businesses access capital and driving innovation across the country. Over the past decade, it has enabled thousands of companies to raise capital outside traditional financing channels, offering companies choice.
As of the end of 2024, investment crowdfunding platforms collectively raised over $2.8 billion since inception, funding 7,894 issuers across 2,234 cities. This movement is not just about raising capital—it has created 437,000+ jobs and injected $9.5 billion annually into local economies. Since the launch of equity crowdfunding in 2016, the numbers clearly demonstrate impact and growth, with more upside to come:
The industry has seen rapid growth, maintaining a compounded annual growth rate (CAGR) of 32.5%. It took five years to reach the first billion dollars in investments but the second billion was raised in just 23 months.
Investment crowdfunding markets are still competitive but a few platforms continue to lead in total capital raised (see ranking in table below)
| Rank | Platform | Offerings | Capital Raised | Investors |
|---|---|---|---|---|
| 1 | Wefunder | 276 | $268.5M | 106.4K |
| 2 | StartEngine | 169 | $83.8M | 50.8K |
| 3 | Dealmaker | 56 | $43.2M | 30.2K |
| 4 | Republic | 50 | $25.0M | 21.0K |
| 5 | Honeycomb | 138 | $9.5M | 8.6K |
Recently, more capital is flowing into companies with proven revenue models. In 2024, 63% of successfully funded companies were post-revenue. This is a departure from the earlier years when riskier, pre-revenue startups dominated investment crowdfunding markets.
Investors are becoming more selective, resulting in larger check sizes but fewer deals being funded. This trend reflects a maturing market where investor confidence hinges on financial performance and strategic growth opportunities.
Technology startups in artificial intelligence, machine learning, and fintech are attracting the highest levels of investor interest. AI firms raised $312 million in 2024 alone with fintech companies following closely behind. This aligns with broader market trends where digital transformation and automation are leading investor priorities. Also, crowdfunding platforms themselves are integrating AI tools to improve decision-making and potentially increase transparency while reducing risk.
Regulation remains a hot topic as policymakers consider raising the Regulation Crowdfunding (RegCF) cap from $5M to $20M. This change could unlock larger capital raises, making equity crowdfunding a more viable option for high-growth companies. Further, discussions around tokenized securities and blockchain integration could introduce new levels of liquidity and investor participation which would further bridge the gap between private and public markets.
Investment crowdfunding has proven its ability to democratize access to capital, stimulate job creation, and fuel economic growth. With institutional investors showing increased interest and platforms refining their strategies, the next decade will likely see even greater adoption and innovation in the space.
2025 is expected to bring further growth, with the number of deals projected to rise to 1,600-1,700 offerings. Artificial intelligence investment tools and tokenized securities could provide more liquidity for investors.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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