Housing prices in Western Canada high? Credit card debt in Ontario bad? You bet!

6 July 2006

With Alberta's average housing price leaping 35 per cent in the past year, it's not surprising that one in four Western Canadians are willing to risk doubling their mortgage - or earn mortgage freedom - in a single hand of poker, according to a national survey by online poker site PokerRoom.com. In Ontario, exactly half of those surveyed said they would take the opportunity to wipe out their credit card - or see it doubled - in a double-or-nothing poker hand.

The national survey conducted by research firm Synovate gauged the risk tolerance of more than a thousand Canadian adults. The survey revealed that Canadians lose their inhibitions the further west you travel. On a scale of 1 to 10, with one being the least risky and 10 the most, Quebecers and Atlantic Canadians said they were the least willing to take risks in life, while British Columbians and Western Canadians (Manitoba, Saskatchewan and Alberta) said they were the most willing. Most Canadians, 21 per cent, ranked themselves as a "five" on their willingness to take risks, while the next highest rating was a "seven" (18 per cent).

"Canadians are often seen as conservative and cautious, but many have a sensation-seeking side," said Glenn Cademartori, North American spokesperson for PokerRoom.com. "Canadians relish a little thrill and entertainment, including risking their mortgage or credit card debt in a winner-take-all hand of poker. For many, it's a dream to be debt free, but if you ever had the opportunity to go 'double or nothing', how many people would actually take that risk?"

In fact, when asked to choose which financial burden they would be willing to risk in a double-or-nothing single hand of poker, 45 per cent of Canadians said their credit card debt, 18 per cent said their mortgage, 18 per cent said income taxes, 13 per cent said personal or student loan and seven per cent said car loan or lease.

Amongst the other findings:

Machismo may be a factor in Canadians' risk tolerance. Only 14 per cent of Canadian men, compared to 33 per cent of women, considered themselves among the low end of the risk scale, or least willing to take risks in life.

The exuberance of youth: more than 37 per cent of those 18-34 years old gave themselves a rating of seven or higher on their willingness to take risks in life, while only 20 per cent of those more than 55 years old gave themselves a similar rating.

Wealth, or lack of it, appears to make some Canadians more cautious than others. More than one in three Canadians with household incomes of more than $ 75K placed themselves among the top end of the risk-taking scale, but only about one in four with household incomes of less than $ 25K classified themselves in the higher risk categories.

"Canadians take risks everyday: crossing the street, switching jobs, competing in sports or playing online poker. Each has an element of risk," said Cademartori. "The key to avoiding a letdown is to assess and then manage that risk. And Canadians are clearly smart risk takers: they are often among the top winners at PokerRoom.com online tournaments."

PokerRoom.com is the world's third largest online poker site with approximately six million players in nearly 150 countries. Initiated by two students with a passion for poker, PokerRoom.com now offers one of the safest and most entertaining online gaming experiences available, and has won numerous industry awards for its premium-quality graphics and ease of use.

About the Survey

The survey was conducted on behalf of PokerRoom.com by Synovate's eNation Panel from 5-9 January 2006. The panel questioned 1,027 randomly selected Canadian adults over 18 years old. With a sample size of a thousand interviewees, the error range of the survey data is +/-3.2 percentage points, 19 times out of 20.

About PokerRoom.com

PokerRoom.com offers high quality poker and casino games to customers around the world. Attractive and reliable games and related services, coupled with sophisticated design and a high level of service, have made PokerRoom.com one of the most reputable sites in the industry. PokerRoom.com is a brand of betandwin, one of the world's leading providers of online gaming entertainment. Further information about PokerRoom.com can be found on the Internet at www.PokerRoom.com.

The betandwin Group has over 10 million registered customers (including 7 million "play money" customers) in over 20 core target markets. Operating under international and regional licences in countries like Gibraltar, Kahnawake (Canada), Belize and Germany, Italy, Mexico, Austria and the United Kingdom, the Group has set itself the goal of becoming the number one address for sports betting, games and entertainment via digital distribution channels. The Group offers sports betting, poker, casino games and soft games. The parent company BETandWIN.com Interactive Entertainment AG has been listed on the Vienna Stock Exchange since March 2000 (ID code "BWIN", Reuters ID code "BWIN.VI"). Further information about the company can be found on its investor relations website at www.betandwin.ag.

For further information: or additional survey data, please contact Daniela Gentile or Martha Linton at Cohn & Wolfe, Tel: (416) 924-5700 or by e-mail at daniela_gentile@ca.cohnwolfe.com

newswire

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