Casino Near Me in Canada: What the Math Actually Says in 2026

Searching "casino near me" in Canada returns two very different things: a provincial brick-and-mortar property with a regulated floor, and a cluster of offshore sites that accept Canadian players without a provincial licence. Both are real. Both take your money. Only one route gives you a paper trail when a payout goes sideways. This page breaks down the expected value of each option using published RTP figures, provincial tax rates, and the actual withdrawal terms buried in operator terms of service.

Ontario has 4 provincially regulated commercial casino operators plus 29 charitable gaming sites as of 2026. Alberta runs 27 casinos under AGLC. British Columbia licenses 31. Quebec has 4 Casino de Montréal properties plus the Espacejeux platform. Those are the physical addresses that show up when you type "casino near me" into Google Maps. The digital results are a different animal entirely, and the gap in expected return between them is wider than most players assume.

What follows is not a list of "best casinos." It is a cost comparison. Every dollar you wager has a mathematical destination, and the difference between a 96.5% RTP slot at a regulated Ontario property and a 94% RTP slot on an unlicensed Curacao site compounds fast. Run the numbers over 1,000 spins and the spread is not a rounding error.

How Do You Find a Casino Near Me in Canada?

Location search is straightforward for physical properties and deliberately muddy for online. Google Maps surfaces provincially licensed casinos because they have verified business listings, physical addresses, and provincial gaming corporation backing. Online operators that accept Canadian traffic without a provincial licence do not appear in local pack results. They rank through paid search and affiliate content instead.

The practical filter is licensing. A casino near you in the physical sense is regulated by the province it sits in. An online casino near you in the digital sense is regulated by whichever jurisdiction issued its licence, and that is almost never Canada. Curacao, Anjouan, and the Kahnawake Gaming Commission are the three most common issuers for sites targeting Canadian players.

Kahnawake is the interesting case. The Mohawk territory south of Montreal has issued gaming licences since 1996 and is recognized within Canada for certain operator categories. That does not make it equivalent to an AGCO licence, but it is a materially different risk profile from a Curacao sublicence issued three weeks ago to an operator with no track record.

What Licences Should You Look For on a Canadian Casino Site?

Three licence types matter for Canadian players in 2026. The Alcohol and Gaming Commission of Ontario (AGCO) issues iGaming licences for the Ontario market only, and operators holding one must register with iGO. The Kahnawake Gaming Commission licence carries weight because the territory sits inside Canada. Curacao eGaming licences are the most common offshore option and the weakest in terms of player dispute resolution.

An AGCO-licensed operator pays Ontario a 20% revenue share on gross gaming revenue. That is a real number and it shows up in the RTP. Offshore operators paying Curacao a flat annual fee of roughly $20,000 to $50,000 have no revenue-share pressure, which cuts both ways: they can offer higher RTP on some games, but they also have less incentive to maintain player trust when disputes arise.

Check the footer of any casino site. The licence number, issuing authority, and registered company address should be visible without scrolling past the fold. If you have to dig through three pages of terms to find the regulator, that is itself a data point.

Why Do Physical Casinos and Online Casinos Have Different Odds?

Physical casinos in Canada run table games with house edges set by provincial gaming corporations. Ontario blackjack runs a 0.5% house edge on a 6-deck shoe with standard rules. Online blackjack from providers like Evolution and Pragmatic Play often runs 0.4% to 0.6%, essentially identical. The real divergence is in slots and electronic games.

Provincial slot machines in Ontario, run by OLG, typically return 85% to 92% to players. That is not a typo. Land-based slot RTP is set lower than online because the provincial corporation takes a larger cut and the overhead of running a physical floor is higher. Online slots from NetEnt, Microgaming, and Hacksaw Gaming commonly sit between 94% and 97%.

Run the math. A $100 session at 88% RTP loses $12 in expected value. The same session at 96% RTP loses $4. Over a year of weekly $100 sessions, that is a $416 difference in expected loss. The online product is mathematically cheaper to play, assuming the operator pays out.

Which Casino Near Me in Canada Has the Best Expected Value?

Expected value depends on three variables: RTP of the game, house edge on the specific bet, and the probability the operator pays withdrawals without friction. The third variable is where offshore sites separate from regulated ones, and it is the hardest to quantify because operators do not publish dispute statistics.

What you can measure is withdrawal speed. Regulated Ontario operators process e-transfer withdrawals in 1 to 3 business days. Offshore operators range from 15 minutes (crypto) to 10 business days (bank wire), with a meaningful share of complaints concentrated in the 5 to 10 day bracket. Time has a cost, and a 10-day wait on a $2,000 withdrawal is not the same product as a 24-hour payout.

The RTP ranges are from published game provider data. Withdrawal times are from operator terms of service and independent player reports aggregated across Canadian-facing review platforms in 2025 and 2026.

How Much Does a 2% RTP Difference Actually Cost You?

Assume $5,000 in annual wagering, which is a moderate recreational figure. At 96% RTP, expected loss is $200. At 94% RTP, expected loss is $300. The $100 gap is the cost of playing a lower-return game. Scale to $20,000 in annual wagering and the gap becomes $400.

Now layer in withdrawal friction. If an operator charges a $30 wire fee and takes 7 days to process, and you withdraw monthly, that is $360 in fees plus the opportunity cost of funds sitting in limbo for a week. A regulated operator with free e-transfer withdrawals and 2-day processing costs you nothing in fees and 5 days less waiting per cycle.

Over 12 monthly withdrawals, the offshore route costs roughly $360 more in fees alone, before accounting for the RTP gap. That is the honest comparison. Offshore is not free money. It is a different cost structure.

Does the Welcome Bonus Change the Expected Value?

Bonuses change EV, but rarely in the direction players expect. A 100% match up to $500 with a 40x wagering requirement on the bonus amount means $20,000 in wagering before you can withdraw bonus-derived funds. At 96% RTP, expected loss on that wagering is $800. The bonus is worth $500. Net EV is negative $300.

Compare that to a 100% match up to $200 with 20x wagering on the bonus. That is $4,000 in wagering, $160 in expected loss at 96% RTP, against a $200 bonus. Net EV is positive $40. The smaller bonus with lower wagering is mathematically better.

Wagering requirements matter more than bonus size. A $1,000 bonus at 50x wagering requires $50,000 in play. A $100 bonus at 10x requires $1,000. The second is worth more in expected value terms, and it is not close. Read the terms before you claim anything.

Top Operators Accepting Canadian Players in 2026

The operators below are ranked by a composite of licensing strength, published RTP on flagship slots, withdrawal speed, and Canadian payment support. None of this is an endorsement of gambling as a profit activity. It is a ranking of cost structures for players who have already decided to play.

Ontario-licensed operators are listed first because they carry the strongest player protections. Offshore operators follow, with their licence jurisdictions stated plainly. If a site is offshore, this page says so. That is not a moral judgment; it is a fact you need before depositing.

Which Ontario-Licensed Casinos Are Worth Your Time?

BetMGM Casino holds an AGCO licence and runs on the Entain platform. Slot RTP ranges from 94% to 96.5% depending on the provider. Withdrawals via Interac e-transfer land in 1 to 3 business days. The sportsbook integration is a plus if you cross over between products.

Bet365 Casino is AGCO-licensed in Ontario and carries the same licence in several other regulated markets. Its proprietary slots sit at 95% to 96% RTP. The withdrawal process is the fastest in the Ontario pool at under 24 hours for e-transfer in most cases. The trade-off is a thinner game library than pure casino operators.

Unibet Casino operates under AGCO in Ontario and runs on the Kindred platform. RTP on flagship slots from NetEnt and Microgaming sits at 96% to 97%. Withdrawal times average 1 to 2 days. The loyalty program is one of the few that pays in real value rather than bonus credits.

LeoVegas Casino holds an Ontario AGCO licence and offers a game library of over 1,800 titles. RTP is standard across the portfolio at 94.5% to 96.5%. Withdrawals process in 1 to 3 days. The mobile app is the strongest in the Ontario regulated pool.

Party Casino is AGCO-licensed and runs on the Entain stack. Slot RTP sits at 94% to 96%. It is a legacy brand with a deep jackpot portfolio, including progressive titles from Microgaming. Withdrawal times are 2 to 4 days, slightly slower than Bet365.

Which Offshore Casinos Accept Canadian Players?

Stake Casino operates under a Curacao licence and accepts Canadian players. Crypto deposits and withdrawals process in under 15 minutes. RTP on its proprietary originals sits at 97% to 99%, which is genuinely high. The trade-off is no provincial recourse if a dispute arises, and no CAD banking support outside crypto.

Roobet Casino holds a Curacao licence and targets Canadian traffic. Crypto withdrawals process in under 30 minutes. RTP on originals is 97% to 98%. It is a crypto-first platform with no Interac support. If you do not already hold crypto, the friction of getting in and out is real.

FortuneJack Casino operates under a Curacao licence. It offers both crypto and fiat banking, with CAD support through third-party processors. RTP on slots from Pragmatic Play and Hacksaw Gaming sits at 94% to 97%. Withdrawal times range from 15 minutes (crypto) to 3 days (bank transfer).

BitStarz Casino holds a Curacao licence and has operated since 2014, which is a long track record in this segment. RTP on flagship slots is 94% to 97%. Withdrawals process in under 1 hour for crypto and 1 to 3 days for fiat. It supports CAD through Interac via a third-party processor.

7Bit Casino operates under a Curacao licence and accepts Canadian players. It supports CAD deposits and withdrawals via Interac and crypto. RTP on slots is 94% to 97%. Withdrawal times are 15 minutes for crypto and 1 to 3 days for fiat. The game library exceeds 7,000 titles.

BC.Game Casino holds a Curacao licence and runs a crypto-first model with a large originals library. RTP on originals sits at 97% to 99%. Withdrawals process in under 30 minutes for crypto. Fiat support is limited, and CAD banking is not available directly.

Betpanda Casino operates under a Curacao licence and accepts Canadian traffic. It supports crypto and limited fiat banking. RTP on slots is 94% to 97%. Withdrawal times range from 15 minutes (crypto) to 5 days (bank transfer). The welcome package is aggressive, which usually means high wagering requirements.

Betplay Casino holds a Curacao licence and offers a broad game library from Pragmatic Play, NetEnt, and Evolution. RTP is 94% to 97%. Withdrawals process in 1 to 3 days. CAD support is available through third-party processors, though fees apply on some methods.

Wildz Casino operates under a Malta Gaming Authority licence, which is a step above Curacao in terms of regulatory rigor. It accepts Canadian players. RTP on slots is 94% to 96.5%. Withdrawals process in 1 to 3 days. The MGA licence gives it a stronger dispute resolution path than Curacao-only operators.

Casinia Casino holds a Curacao licence and accepts Canadian players. RTP on slots is 94% to 97%. Withdrawals process in 1 to 5 days depending on method. It supports CAD through Interac and crypto. The loyalty program is tiered and pays in bonus credits rather than cash.

ZetCasino operates under a Curacao licence and has a substantial game library. RTP is 94% to 97%. Withdrawals process in 1 to 3 days. CAD support is available via Interac and crypto. The sportsbook integration gives it cross-product appeal.

Vulkan Vegas Casino holds a Curacao licence and has operated since 2016. RTP on slots is 94% to 97%. Withdrawals process in 1 to 3 days. It supports CAD through Interac and crypto. The game library exceeds 5,000 titles from providers including Pragmatic Play and Microgaming.

Rolling Slots Casino operates under a Curacao licence. RTP on slots is 94% to 97%. Withdrawals process in 1 to 3 days. CAD support is available through Interac and crypto. The welcome package includes free spins with 40x wagering, which is on the high side.

Slotbox Casino holds a Curacao licence and accepts Canadian players. RTP on slots is 94% to 97%. Withdrawals process in 1 to 3 days. It supports CAD through Interac and crypto. The game library is smaller than the category average at around 3,000 titles.

Spin Casino operates under a Kahnawake Gaming Commission licence, which is the strongest offshore option for Canadian players. RTP on slots is 94% to 97%. Withdrawals process in 1 to 3 days. CAD support is available through Interac and credit card. The KGC licence gives it a meaningful edge in dispute resolution.

Jackpot City Casino holds a Kahnawake Gaming Commission licence and has operated since 1998. RTP on slots is 94% to 97%. Withdrawals process in 1 to 3 days. CAD support is available through Interac and credit card. The longevity is a real signal in a segment where operators disappear regularly.

Royal Vegas Casino operates under a Kahnawake Gaming Commission licence. RTP on slots is 94% to 97%. Withdrawals process in 1 to 3 days. CAD support is available through Interac. The game library is powered primarily by Microgaming and Evolution.

Spin Palace Casino holds a Kahnawake Gaming Commission licence and has operated since 2001. RTP on slots is 94% to 97%. Withdrawals process in 1 to 3 days. CAD support is available through Interac. It is part of the same group as Royal Vegas and Jackpot City.

Luxury Casino operates under a Kahnawake Gaming Commission licence. RTP on slots is 94% to 97%. Withdrawals process in 1 to 3 days. CAD support is available through Interac. The brand is positioned as a premium option within the same group.

Yukon Gold Casino holds a Kahnawake Gaming Commission licence. RTP on slots is 94% to 97%. Withdrawals process in 1 to 3 days. CAD support is available through Interac. The welcome bonus is structured around free spins rather than a match deposit.

Grand Mondial Casino operates under a Kahnawake Gaming Commission licence. RTP on slots is 94% to 97%. Withdrawals process in 1 to 3 days. CAD support is available through Interac. The game library is powered by Microgaming and Evolution.

What Does the Math Say About Casino Near Me Payouts?

Payout percentage is the single most important number on any casino site, and it is the number operators bury hardest. Regulated Ontario operators must publish RTP on individual games, and providers like NetEnt, Microgaming, and Pragmatic Play list RTP in the game info panel. Offshore operators are less consistent about this.

If a slot does not list its RTP in the game info panel, that is a red flag. It takes five seconds to check. Open the game, click the info icon, and look for "Return to Player" or "RTP." If it is not there, the operator has chosen not to disclose it, which tells you something about their priorities.

Provincial land-based slots are the worst offenders on disclosure. OLG does not publish per-machine RTP in a way that is accessible to players on the floor. The published range is 85% to 92%, but the specific machine you are sitting at could be at either end. Online, you can check before you spin.

How Do You Calculate Expected Loss on a Casino Session?

Expected loss equals total wagered multiplied by (1 minus RTP). If you wager $500 on a 96% RTP slot, expected loss is $20. If you wager $500 on an 88% RTP land-based slot, expected loss is $60. The difference is $40 on a single session, and it compounds.

Worked example: you deposit $200, claim a 100% match with 35x wagering on the bonus, and play a 96% RTP slot. Total wagering required is $7,000. Expected loss on that wagering is $280. The bonus is worth $200. Net expected value is negative $80. The bonus is a cost, not a gift, unless the wagering is low.

Now the same $200 deposit with no bonus, played straight through at 96% RTP. If you wager the full $200 once, expected loss is $8. If you wager it 10 times over, expected loss is $80. The bonus changed nothing about the underlying math; it just extended your playtime and added a withdrawal condition.

Does Game Choice Matter More Than Operator Choice?

Yes, and it is not close. The gap between the highest and lowest RTP slots on the same platform is often 4 to 6 percentage points. The gap between operators, once you control for game selection, is usually under 1 percentage point. Game selection is the lever that actually moves your expected value.

Hacksaw Gaming slots frequently run at 96.5% to 97% RTP. Some Pragmatic Play titles run at 96.5%, but the same provider also releases titles at 94% or lower depending on the market configuration. NetEnt's flagship titles like Starburst run at 96.1%. Microgaming's Mega Moolah runs at 88.12% because the progressive jackpot contribution comes out of the RTP.

Progressive jackpots are the clearest example of RTP trade-off. You are paying 8 to 10 percentage points of RTP for a shot at a life-changing payout. The math is not in your favor on a per-spin basis. It is a lottery ticket wrapped in a slot machine, and that is fine if you understand what you are buying.

What About Table Games and Live Dealer?

Table games have far lower house edges than slots, and the RTP is closer to 99% on the best bets. Ontario-regulated blackjack runs a 0.5% house edge. Baccarat banker bet runs 1.06%. European roulette runs 2.7%. These are published, stable, and do not vary by operator.

Live dealer games from Evolution run the same house edges as their RNG counterparts, but the pace is slower. A live blackjack table deals roughly 50 to 60 hands per hour. An RNG blackjack game can deal 300 or more. Slower pace means less total wagering, which means lower expected loss per hour even at the same house edge.

If your goal is minimizing expected loss per hour, live dealer blackjack at a 0.5% house edge with 50 hands per hour at $10 per hand is $2.50 in expected loss per hour. An RNG slot at 96% RTP with 600 spins per hour at $1 per spin is $24 in expected loss per hour. The gap is nearly 10x.

What Are the Legal and Tax Realities for Canadian Players?

Canada does not criminalize individual players for gambling at offshore sites. The Criminal Code prohibits operators from running unlicensed gaming operations from within Canada, but it does not target players. That is the legal reality, and it has been stable for years. It is not a green light; it is a description of enforcement priorities.

Tax treatment is where it gets interesting. The Canada Revenue Agency does not tax gambling winnings for recreational players. If you are a professional gambler, winnings are taxable as income. The CRA has pursued professional gamblers in tax court, and the determining factors are whether the activity is pursued systematically and whether it is a primary source of income.

Ontario players have an additional consideration. The AGCO prohibits Ontario-licensed operators from accepting players who have self-excluded through iGO. If you self-exclude, you are removed from all Ontario-licensed platforms for the duration you select. Offshore operators are not bound by this, which is a real gap in the protection system.

Is It Legal to Play at Offshore Casinos From Canada?

Playing at an offshore casino from Canada is not a criminal offense for the player. The Criminal Code targets operators, not participants. That said, offshore operators have no legal obligation to pay you, and your recourse if they do not is limited to the regulator that issued their licence, which is usually outside Canada.

Kahnawake-licensed operators are the exception. The Kahnawake Gaming Commission has a dispute resolution process that Canadian players can access. It is not equivalent to a provincial regulator, but it is a real process with real outcomes. Curacao and Anjouan offer weaker dispute mechanisms with longer timelines.

Practical guidance: if you play offshore, keep records. Screenshot your balance, your withdrawal requests, and any communication with support. If a dispute arises, documentation is the difference between a resolved complaint and a lost deposit.

What Payment Methods Work for Canadian Players?

Interac e-transfer is the dominant payment method for Canadian players at regulated Ontario operators. It is fast, low-cost, and supported by every AGCO-licensed platform. Deposits are instant. Withdrawals process in 1 to 3 business days.

Credit and debit cards work at most operators, but Canadian banks have been increasingly restrictive about gambling transactions. Visa and Mastercard deposits are often declined at the bank level, not the operator level. This is a bank policy, not a legal restriction.

Crypto is the fastest route offshore. Bitcoin, Ethereum, and Litecoin deposits confirm in 10 to 60 minutes depending on network congestion. Withdrawals from crypto-first operators like Stake and Roobet process in under 30 minutes. The trade-off is volatility between deposit and withdrawal, plus the friction of converting CAD to crypto.

Paysafecard and MuchBetter are supported by some operators. Both work as prepaid or e-wallet options and avoid direct bank exposure. Fees vary. MuchBetter charges a small percentage on some transactions; Paysafecard charges a flat fee at purchase.

Responsible Gambling: What You Need to Know

Gambling is a form of entertainment with a negative expected value for the player over time. That is not a moral position; it is arithmetic. The house edge exists, it is published, and it does not care about your strategy. Play with money you can afford to lose, and set limits before you start.

The legal gambling age in Canada is 18 in Alberta, Manitoba, and Quebec, and 19 in Ontario, British Columbia, Saskatchewan, Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador. It is 19 in the Northwest Territories, Nunavut, and Yukon. Offshore operators often set their own minimum at 18, which does not override provincial law.

If gambling stops being entertainment, help is available. The national problem gambling helpline in Canada is 1-800-463-1554. Ontario residents can also access ConnexOntario at 1-866-531-2600. Both are free, confidential, and available 24 hours a day.

Self-exclusion is the strongest tool available. Ontario's iGO self-exclusion program removes you from all Ontario-licensed online and land-based gambling for a period you choose, from 6 months to 5 years. You can register through the iGO website or at any Ontario casino. It does not cover offshore operators, which is why self-exclusion plus account closure at offshore sites is the more complete approach.

Practical limits that work: set a deposit limit at the account level, not a mental note. Set a session time limit and honor it with a timer. Never chase losses with increased stakes; the math does not change because you are behind. If you are playing to recover money rather than for entertainment, stop and call the helpline.

How Do You Set Deposit Limits That Actually Work?

Deposit limits set at the operator level are enforceable. Mental limits are not. Every regulated Ontario operator offers deposit limits that you can set in the account settings, and once set, they cannot be increased for 24 hours. That cooling-off period is the point.

Set the limit at a number that does not affect your rent, groceries, or savings. If $200 per month is the number, set it at $200. If you hit the limit and feel the urge to open an account elsewhere, that is a signal worth paying attention to. One account with a hard limit is better than three accounts with soft ones.

Session limits work the same way. Set a time limit of 60 minutes and log out when it triggers. The operator will remind you, but they will not force you out unless you have configured it that way. Configure it that way.

What Are the Warning Signs of Problem Gambling?

Betting more than you planned, chasing losses, hiding gambling from family, borrowing money to gamble, and feeling anxious or irritable when not gambling are the standard markers. None of them are subtle. If two or more apply to you, the helpline is the next call.

Problem gambling is not about willpower. It is about the same dopamine loop that makes slot machines profitable for operators. The variable ratio reinforcement schedule is the mechanism, and it is deliberately designed. Understanding that does not make you immune, but it removes the illusion that you are just unlucky.

ConnexOntario reports that gambling-related calls make up a meaningful share of their total helpline volume, and the median age of callers has been trending younger over the past five years. Online gambling accessibility is a contributing factor. The earlier you set limits, the easier they are to keep.

Frequently Asked Questions

Is it legal to use "casino near me" searches to find offshore sites in Canada?

Searching is legal. Playing at an offshore casino from Canada is not a criminal offense for the player, since the Criminal Code targets operators rather than participants. The practical risk is not legal; it is the absence of recourse if the operator refuses to pay. Kahnawake-licensed sites offer the strongest dispute path for Canadian players.

What is the average RTP of a casino near me in Ontario?

Ontario-regulated online slots run 94.5% to 96.5% RTP on average. Provincial land-based slots run 85% to 92%. The gap is roughly 5 to 10 percentage points, which translates to a $50 to $100 difference in expected loss per $1,000 wagered. Online is mathematically cheaper per dollar wagered.

How long do withdrawals take at Canadian casinos?

AGCO-licensed Ontario operators process Interac e-transfer withdrawals in 1 to 3 business days. Kahnawake-licensed operators run 1 to 3 days. Curacao-licensed operators range from 15 minutes (crypto) to 10 business days (bank wire). Crypto withdrawals are fastest; bank wires are slowest.

Do I have to pay tax on casino winnings in Canada?

The CRA does not tax gambling winnings for recreational players. If you are classified as a professional gambler, winnings are taxable as income. The CRA has pursued professional gamblers in tax court, and the classification depends on whether the activity is systematic and a primary income source.

What is the minimum age to gamble at a casino near me in Canada?

The legal gambling age is 18 in Alberta, Manitoba, and Quebec. It is 19 in Ontario, British Columbia, Saskatchewan, and the Atlantic provinces. It is 19 in the three territories. Offshore operators often set their own minimum at 18, which does not override provincial law where you are physically located.

Which game has the best odds at a Canadian casino?

Blackjack with standard rules runs a 0.5% house edge, the lowest on the floor. Baccarat banker bet runs 1.06%. European roulette runs 2.7%. Slot machines run 4% to 15% depending on the game and jurisdiction. Table games with published rules beat slots on expected value every time.

Can I self-exclude from all Ontario casinos at once?

Yes. Ontario's iGO self-exclusion program removes you from all Ontario-licensed online and land-based gambling for 6 months to 5 years. Registration is available through the iGO website or at any Ontario casino. It does not cover offshore operators, so account closure at those sites is a separate step.

What is the national gambling helpline in Canada?

The national problem gambling helpline is 1-800-463-1554, available 24 hours a day, free and confidential. Ontario residents can also reach ConnexOntario at 1-866-531-2600. Both connect callers to local treatment resources and crisis support.

The honest summary: a casino near you, whether physical or digital, is a business with a published house edge. Regulated Ontario operators run 94.5% to 96.5% RTP on slots and pay Ontario a 20% revenue share. Offshore operators run similar or slightly higher RTP but offer weaker recourse and slower payouts.

The math favors regulated platforms for players who value certainty, and offshore platforms for players who prioritize game selection and crypto speed. Pick the cost structure you can live with, set a deposit limit before you play, and treat every session as an entertainment expense rather than an investment.