Offshore Sites Take Larger Share of Canadian Wagers as Stake Leads Brand Ranking

Offshore gambling platforms are handling a larger volume of Canadian wagers despite attracting a smaller share of players. A new CasinoCanada analysis also places Stake at the top of the country’s gambling brand ranking.

Latest Blask figures cited by CasinoCanada show that 66.47% of Canadian gamblers use licensed operators. Offshore platforms account for the remaining 33.53%.

Spending reveals a different insight. Offshore sites handled CAD 712 million ($512 million) in wagers, compared with CAD 484 million ($348 million) across licensed operators.

The figures point to a gap between player reach and betting value. Licensed sites serve the larger audience, while offshore customers generate the higher wagering total.

Stake Leads a 301-Brand Ranking

CasinoCanada reviewed 301 gambling brands active across Canada as part of its research. Stake received the highest estimated market value at CAD 2.50 billion ($1.8 billion). The crypto-focused operator is classified as offshore in the study.

Four offshore names therefore sit inside Canada’s top 10, despite operating outside provincial licensing systems.

Crypto and Prediction Markets Remain Offshore Advantages

Some of that demand comes from products that are difficult to access through regulated operators. Ontario rules require player balances to be kept in Canadian dollars and handled by authorised financial service providers. Crypto gambling does not fit within that framework.

Prediction markets are another example. Provincial gambling rules were not built around the product, while offshore sites have already moved into the category.

CasinoCanada points to two sharp increases:

Rainbet’s Canadian business rose 621% year on year;
Offshore prediction market activity increased 161%.

For offshore brands, those products offer another route to Canadian customers beyond conventional sportsbook and casino games.

Provincial Results Tell Different Stories

The size of the offshore sector also varies heavily across Canada. Older Blask estimates cited in the research put offshore leakage at:

93% in Saskatchewan;
88% in Alberta;
88% in Manitoba;
83% in Quebec;
Around 49% in British Columbia.

Ontario is the clear exception. An Ipsos study published in 2026 found that 91.1% of recent online gamblers there had used regulated websites.

The numbers come from different periods, so direct comparisons need some caution. Alberta’s 88% figure, for example, was calculated before the province launched its competitive regulated iGaming market in July 2026.

Offshore Spending Remains the Bigger Issue

Player numbers alone give an incomplete picture of Canada’s gambling market. Licensed operators attract most users, but the wager data show that offshore customers are spending heavily. That is what makes the Stake ranking significant. Offshore brands are competing for a smaller pool of players, yet some have built substantial Canadian businesses. Product availability, especially around crypto and prediction markets, gives them room to keep doing so.