I posted this yesterday morning (UK time) but after 5 hours or so, pennystocks deleted the original post. A few people messaged me asking for it to be shared in a few High Tide specific pages. So here it is!
--
This is my first time posting a DD post – a friend of mine who moderates on SPACs has shared some analysis I have written previously, but I’m keen to share this here, and see if there is any appetite for sharing my own personal written DD I have on the 30 stocks I have across a number of different portfolios.
I have modified this format, as it was originally a script for a video which I created on the stock. If you prefer to listen – check it out here: https://youtu.be/qsjwU7kkPsw
Some of the market stats (market cap, current multiples, etc.) are correct as of Feb-06, and clearly a little outdated since the price movements.
Not a financial advisor, do your own DD. I am long HITI and have an expectation of a long term hold on this stock.
Overview

• High Tide Canada-based cannabis retail company, operating under multiple brands. It operates under 3 core divisions:

1. Brick and mortar retail – 4 key brands with just under 70 locations in Canada. Brands include: Canna Cabana, New Leaf, Meta Cannabis and Kushbar. Forecast to have around 115 stores by end of 2021
2. Online retail – has 2 brands, both of which attract millions of viewers per month – Grasscity.com and CBDcity.com
3. Wholesale – manufacturer of paraphernalia in US and Canada. Number of products are branded with various celebrities, Snoop Dogg, Paramount Pictures, Trailer Park Boys and many more

• Has good c-level execs and experienced executive board; hold significant stake in the business. CEO Raj Grover holds just over 21% of the shares
• Currently has a market cap of around $280m. Still significant upside to the valuation – see analysis later in post

Investment Merits
Very strong market growth:

• Business has demonstrated growth both organically (through new store openings, more online sales and greater wholesale sales), as well as inorganically through M&A
• Growth in markets which High Tide has a physical presence in is expected to be very strong. North American cannabis market (Canada and US) is forecast to grow by 30% a year to 2027 (source: research and markets)
• Analysts covering High Tide are forecasting growth in excess of this, which is positive to see and implies capturing market share
• New markets / geographies ‘opening up’, legalizing and regulating cannabis is also an exciting and realistic prospect for incremental growth:

1. The US federal legalization debate is on the table
2. Many other countries are considering this too and High Tide is well positioned for these; this is catalyzed by the fact that government debt has increased significantly as part of the response to the COVID-19 health crisis. This needs to be repaid somehow, and increasing tax rates on existing taxes is an unpopular political move. Finding new tax revenues is a more palatable way of increasing tax revenues for governments. This is especially important in countries where elections are upcoming.

• Personally I do expect to see this accelerate the agenda for the regulation and legalization of cannabis in many new countries
• Whilst predominantly Canada and US based, High Tide does have presence in some markets where cannabis is not regulated or legalized, the UK for example (~10% of Grasscity sales are made here) and so it is well positioned with a strong and established brand to capitalize on this opportunity, when / if the market ‘opens up’

Regulation

• High Tide benefits from the regulatory focus and overhang on the cannabis retail sector as it represents a strong barrier to entry, making it more challenging for new competitors to enter market
• Participants in the market need to have licenses and ensure consistent compliance with laws to continue operating – failure to comply can result in significant financial penalties
• Personally I normally don’t like investing into retail. There are usually fairly limited barriers to entry, minimal differentiation and negligible customer loyalty, however the cannabis market does have different characteristics in this respect and makes it a more compelling proposition
• Regulation also benefits those with scale, something High Tide has as the leading player in the market. It costs money to obtain and retain licences to operate and it costs money to ensure compliance with all the laws and regulations and that all staff are acting in accordance with these
• Some parallels in this respect which can be drawn to casino gaming in casinos; you don’t see new casinos popping up at the same rate which you see new restaurants or apparel stores opening

Demand

• There’s a lot to like about the demand dynamics for High Tide. It’s vice-nature means that demand is less correlated to disposable incomes. Given where we are in economic cycle, especially important consideration
• For those doubting this, check alcohol, tobacco or gambling expenditure across economic cycles historically, for a proxy

Strong performance throughout COVID-19 crisis

• Despite heavy weighting towards brick and mortar, (the most hard hit part of retail) it has effectively managed the shift to online, which is a positive
• Has relied on government support and financial assistance in the form of job retention schemes (address in more detail later in post)
• This demonstrates management are capable and have effectively navigated the challenging situation

Data

• Massively summarized from the video, (and my video on KERN) so check that out if interested in this point, however, they have unique access to supply chain data which could be monetized effectively and generate strong levels of recurring revenues
• Other established sectors have a trusted party with such unique access to data (e.g. alcohol, lithium, different foods, etc.) and the opportunity here is enormous
• I would like to see High Tide capitalize on this

Forecasts financials & analysts

• Currently 2 analysts covering High Tide, both have a buy rating on the business
• Their coverage is slightly outdated (expect this being updated soon and a further catalyst for positive price action) and their price targets are 60c; at the time their reports were published, they were forecasting a 4x upside (HITI was trading at ~15c)
• Same analysts also forecasting strong growth - 77% CAGR to 2022. They are forecasting revenues of around $250m and EBITDA of $46m. A reminder here, these are professional analysts, not YouTube students – these come from their financial models, the assumptions of which are discussed with management

https://preview.redd.it/nfq8h5fpvmg61.png?width=602&format=png&auto=webp&s=f48977ca9c0072003ac71206cef28b0a493dd583
Valuation

• Going to go quick here, its explained more slowly in the video but High Tide is currently valued at a significant discount to the other listed peers
• Looking at EV / FY+1 Sales multiples – EBITDA not meaningful as some of the peer group are EBITDA negative and High Tide itself has only recently become EBITDA positive

​
https://preview.redd.it/4t4n303rvmg61.png?width=342&format=png&auto=webp&s=636bca248743272bed283af97780d3e1e121312f

• Personally, I think Planet13 is the most comparable given its business model
• Taking both Planet13 multiple and peer group average multiple, this is then applied to High Tide’s forecast FY+1 sales to calculate an enterprise value – this is adjusted for net debt to get to a market capitalization and then divided by the share count to get an implied share price
• The table below shows the implied stock price valuations from this analysis

​
https://preview.redd.it/1mks0oxrvmg61.png?width=406&format=png&auto=webp&s=587ca8e2468b825103905931ebe7ab5b42314c6f
NB – assumed the following:

1. Net debt will change in coming year given the capital structure and a large number of convertible notes – this has been ignored given it will have small impact on the price
2. The share count will change as a result of dilution from various instruments – if this bothers you massively then look at the valuation discount on the basis of the enterprise value as it does not impact this (and only slightly on the market cap given minimal impacts to cash from instrument execution, etc.)
3. Not accounting for any stock split, consolidation or any other M&A deals
4. The FY21 financials are on the basis of the mean broker estimates from Thomson Reuters – Seeking Alpha has different and slightly outdated ones

Investment Risks & Mitigants / Outstanding DD points
Exposure to changing regulation

• US is only a small part of the market which High Tide addresses, while a change in regulation would have a big impact on the company, currently it is unlikely this would happen, given the discussions about potential federal legalization
• Canada regulation is established and not going anywhere
• Other countries likely to legalize and regulate cannabis, as outlined earlier

Dilution

• No escaping that there will be some significant dilution for shareholders, as pointed out in the table below, but this should be already priced into the stock
• Potential that new equity issuances could occur to help finance growth, but provided this growth is delivered, it should be accretive for the stock price

​
https://preview.redd.it/vkrb2ousvmg61.png?width=602&format=png&auto=webp&s=40f8f4c65b92efc15af0eba42bb873c774700eff
Potentially misleading cost basis information

• A risk that investors need to be aware with for all companies which have relied on government financial support during COVID-19 measures. Such support has resulted in the number of businesses going bankrupt decreasing massively – this is at a lower level than it ever normally is and is masking some real underlying issues within companies. As investors we need to be open eyed about this
• As High Tide has benefited from support in the form of the Canada’s Emergency Wage Support scheme, there is the risk that once this is lifted it may become apparent that the cost base has not been effectively managed
• Personally, I think this is mitigated by the synergy analysis conducted as part of the M&A. A full cost base analysis would have been conducted to calculate the potential $8.4m synergies so strong likelihood that this is under control, but should keep on our radar and reassess

Marketing expenses and celebrity licenses

• Need more information to ascertain whether these are underpinned by a compelling ROI. Seen a lot of people suggest this is a great positive, but the impact on sales volumes from these is unknown, as is the terms of these license agreements (e.g. split between upfront fee vs. volume-based fee)
• No escaping the fact that it is an increased cost and so need to understand the ROI this generates to determine whether it really is compelling
• Is there really more demand to pay a premium for Snoop Dogg bongs, Guns n Roses papers, Cheech & Chong grinders, or whatever they may be?
• So far management have suggested this has been helpful in driving new sales, but this is something to dig into more

If you want to check out the video, it would be appreciated: https://youtu.be/qsjwU7kkPsw

Reposting this DD after it was removed by mods first time around. Potential offending points have been removed.
---
Some of the market stats are a little outdated (market cap, current multiples, etc.) but are correct as of Feb-06. This was originally written for another purpose.
Not a financial advisor, do your own DD. I am long HITI and have an expectation of a long term hold on this stock.
Overview

• High Tide Canada-based cannabis retail company, operating under multiple brands. It operates under 3 core divisions:

1. Brick and mortar retail – 4 key brands with just under 70 locations in Canada. Brands include: Canna Cabana, New Leaf, Meta Cannabis and Kushbar. Forecast to have around 115 stores by end of 2021
2. Online retail – has 2 brands, both of which attract millions of viewers per month – Grasscity.com and CBDcity.com
3. Wholesale – manufacturer of paraphernalia in US and Canada. Number of products are branded with various celebrities, Snoop Dogg, Paramount Pictures, Trailer Park Boys and many more

• Has good c-level execs and experienced executive board; hold significant stake in the business. CEO Raj Grover holds just over 21% of the shares
• Currently has a market cap of around $280m. Still significant upside to the valuation – see analysis later in post

Investment Merits
Very strong market growth:

• Business has demonstrated growth both organically (through new store openings, more online sales and greater wholesale sales), as well as inorganically through M&A
• Growth in markets which High Tide has a physical presence in is expected to be very strong. North American cannabis market (Canada and US) is forecast to grow by 30% a year to 2027 (source: research and markets)
• Analysts covering High Tide are forecasting growth in excess of this, which is positive to see and implies capturing market share
• New markets / geographies ‘opening up’, legalizing and regulating cannabis is also an exciting and realistic prospect for incremental growth:

1. The US federal legalization debate is on the table
2. Many other countries are considering this too and High Tide is well positioned for these; this is catalyzed by the fact that government debt has increased significantly as part of the response to the COVID-19 health crisis. This needs to be repaid somehow, and increasing tax rates on existing taxes is an unpopular political move. Finding new tax revenues is a more palatable way of increasing tax revenues for governments. This is especially important in countries where elections are upcoming.

• Personally I do expect to see this accelerate the agenda for the regulation and legalization of cannabis in many new countries
• Whilst predominantly Canada and US based, High Tide does have presence in some markets where cannabis is not regulated or legalized, the UK for example (~10% of Grasscity sales are made here) and so it is well positioned with a strong and established brand to capitalize on this opportunity, when / if the market ‘opens up’

Regulation

• High Tide benefits from the regulatory focus and overhang on the cannabis retail sector as it represents a strong barrier to entry, making it more challenging for new competitors to enter market
• Participants in the market need to have licenses and ensure consistent compliance with laws to continue operating – failure to comply can result in significant financial penalties
• Personally I normally don’t like investing into retail. There are usually fairly limited barriers to entry, minimal differentiation and negligible customer loyalty, however the cannabis market does have different characteristics in this respect and makes it a more compelling proposition
• Regulation also benefits those with scale, something High Tide has as the leading player in the market. It costs money to obtain and retain licences to operate and it costs money to ensure compliance with all the laws and regulations and that all staff are acting in accordance with these
• Some parallels in this respect which can be drawn to casino gaming in casinos; you don’t see new casinos popping up at the same rate which you see new restaurants or apparel stores opening

Demand

• There’s a lot to like about the demand dynamics for High Tide. It’s vice-nature means that demand is less correlated to disposable incomes. Given where we are in economic cycle, especially important consideration
• For those doubting this, check alcohol, tobacco or gambling expenditure across economic cycles historically, for a proxy

Strong performance throughout COVID-19 crisis

• Despite heavy weighting towards brick and mortar, (the most hard hit part of retail) it has effectively managed the shift to online, which is a positive
• Has relied on government support and financial assistance in the form of job retention schemes (address in more detail later in post)
• This demonstrates management are capable and have effectively navigated the challenging situation

Data

• Massively summarized from the other purpose, however, they have unique access to supply chain data which could be monetized effectively and generate strong levels of recurring revenues
• Other established sectors have a trusted party with such unique access to data (e.g. alcohol, lithium, different foods, etc.) and the opportunity here is enormous
• I would like to see High Tide capitalize on this

Forecasts financials & analysts

• Currently 2 analysts covering High Tide, both have a buy rating on the business
• Their coverage is slightly outdated (expect this being updated soon and a further catalyst for positive price action) and their price targets are 60c; at the time their reports were published, they were forecasting a 4x upside (HITI was trading at ~15c)
• Same analysts also forecasting strong growth - 77% CAGR to 2022. They are forecasting revenues of around $250m and EBITDA of $46m. A reminder here, these are professional analysts, not YouTube students – these come from their financial models, the assumptions of which are discussed with management

https://preview.redd.it/csw4p0vpoxg61.png?width=602&format=png&auto=webp&s=143ac8f94e6fcd4df3d50d41f513da45367f28f1
Valuation

• Going to go quick here, however, High Tide is currently valued at a significant discount to the other listed peers
• Looking at EV / FY+1 Sales multiples – EBITDA not meaningful as some of the peer group are EBITDA negative and High Tide itself has only recently become EBITDA positive

https://preview.redd.it/zo0vr7vqoxg61.png?width=262&format=png&auto=webp&s=686be7e82e3fbfb3d7021823ed84f2cf795b49d2

• Personally, I think Planet13 is the most comparable given its business model
• Taking both Planet13 multiple and peer group average multiple, this is then applied to High Tide’s forecast FY+1 sales to calculate an enterprise value – this is adjusted for net debt to get to a market capitalization and then divided by the share count to get an implied share price
• The table below shows the implied stock price valuations from this analysis

https://preview.redd.it/qp6qea1soxg61.png?width=277&format=png&auto=webp&s=3333aa9ea7213961a44bc37e4292bad316872b48
NB – assumed the following:

1. Net debt will change in coming year given the capital structure and a large number of convertible notes – this has been ignored given it will have small impact on the price
2. The share count will change as a result of dilution from various instruments – if this bothers you massively then look at the valuation discount on the basis of the enterprise value as it does not impact this (and only slightly on the market cap given minimal impacts to cash from instrument execution, etc.)
3. Not accounting for any stock split, consolidation or any other M&A deals
4. The FY21 financials are on the basis of the mean broker estimates from Thomson Reuters – Seeking Alpha has different and slightly outdated ones

Investment Risks & Mitigants / Outstanding DD points
Exposure to changing regulation

• US is only a small part of the market which High Tide addresses, while a change in regulation would have a big impact on the company, currently it is unlikely this would happen, given the discussions about potential federal legalization
• Canada regulation is established and not going anywhere
• Other countries likely to legalize and regulate cannabis, as outlined earlier

Dilution

• No escaping that there will be some significant dilution for shareholders, as pointed out in the table below, but this should be already priced into the stock
• Potential that new equity issuances could occur to help finance growth, but provided this growth is delivered, it should be accretive for the stock price

https://preview.redd.it/aaslgozsoxg61.png?width=463&format=png&auto=webp&s=767bffe9d6906bf21340aecd884cfad5ec7219c4
Potentially misleading cost basis information

• A risk that investors need to be aware with for all companies which have relied on government financial support during COVID-19 measures. Such support has resulted in the number of businesses going bankrupt decreasing massively – this is at a lower level than it ever normally is and is masking some real underlying issues within companies. As investors we need to be open eyed about this
• As High Tide has benefited from support in the form of the Canada’s Emergency Wage Support scheme, there is the risk that once this is lifted it may become apparent that the cost base has not been effectively managed
• Personally, I think this is mitigated by the synergy analysis conducted as part of the M&A. A full cost base analysis would have been conducted to calculate the potential $8.4m synergies so strong likelihood that this is under control, but should keep on our radar and reassess

Marketing expenses and celebrity licenses

• Need more information to ascertain whether these are underpinned by a compelling ROI. Seen a lot of people suggest this is a great positive, but the impact on sales volumes from these is unknown, as is the terms of these license agreements (e.g. split between upfront fee vs. volume-based fee)
• No escaping the fact that it is an increased cost and so need to understand the ROI this generates to determine whether it really is compelling
• Is there really more demand to pay a premium for Snoop Dogg bongs, Guns n Roses papers, Cheech & Chong grinders, or whatever they may be?
• So far management have suggested this has been helpful in driving new sales, but this is something to dig into more
  TLDR
  

Despite the recent rally in stock price, the business remains undervalued on a relative basis versus its peers (analysis in body of post). There is a compelling investment case for High Tide where in my opinion the merits of the investment outweigh the risks. Clearly given the small cap nature of the stock, this is inherently more volatile than larger blue chip stocks and carries with it a degree of risk.

I posted this yesterday morning (UK time) but after 5 hours or so, pennystocks deleted the original post. A few people messaged me asking for it to be shared in a few High Tide specific pages. So here it is! Hope this is OK for the mods here?
--
This is my first time posting a DD post – a friend of mine who moderates on SPACs has shared some analysis I have written previously, but I’m keen to share this here, and see if there is any appetite for sharing my own personal written DD I have on the 30 stocks I have across a number of different portfolios.
I have modified this format, as it was originally a script for a video which I created on the stock. If you prefer to listen – check it out here: https://youtu.be/qsjwU7kkPsw
Some of the market stats (market cap, current multiples, etc.) are correct as of Feb-06, and clearly a little outdated since the price movements.
Not a financial advisor, do your own DD. I am long HITI and have an expectation of a long term hold on this stock.
Overview

• High Tide Canada-based cannabis retail company, operating under multiple brands. It operates under 3 core divisions:

1. Brick and mortar retail – 4 key brands with just under 70 locations in Canada. Brands include: Canna Cabana, New Leaf, Meta Cannabis and Kushbar. Forecast to have around 115 stores by end of 2021
2. Online retail – has 2 brands, both of which attract millions of viewers per month – Grasscity.com and CBDcity.com
3. Wholesale – manufacturer of paraphernalia in US and Canada. Number of products are branded with various celebrities, Snoop Dogg, Paramount Pictures, Trailer Park Boys and many more

• Has good c-level execs and experienced executive board; hold significant stake in the business. CEO Raj Grover holds just over 21% of the shares
• Currently has a market cap of around $280m. Still significant upside to the valuation – see analysis later in post

Investment Merits
Very strong market growth:

• Business has demonstrated growth both organically (through new store openings, more online sales and greater wholesale sales), as well as inorganically through M&A
• Growth in markets which High Tide has a physical presence in is expected to be very strong. North American cannabis market (Canada and US) is forecast to grow by 30% a year to 2027 (source: research and markets)
• Analysts covering High Tide are forecasting growth in excess of this, which is positive to see and implies capturing market share
• New markets / geographies ‘opening up’, legalizing and regulating cannabis is also an exciting and realistic prospect for incremental growth:

1. The US federal legalization debate is on the table
2. Many other countries are considering this too and High Tide is well positioned for these; this is catalyzed by the fact that government debt has increased significantly as part of the response to the COVID-19 health crisis. This needs to be repaid somehow, and increasing tax rates on existing taxes is an unpopular political move. Finding new tax revenues is a more palatable way of increasing tax revenues for governments. This is especially important in countries where elections are upcoming.

• Personally I do expect to see this accelerate the agenda for the regulation and legalization of cannabis in many new countries
• Whilst predominantly Canada and US based, High Tide does have presence in some markets where cannabis is not regulated or legalized, the UK for example (~10% of Grasscity sales are made here) and so it is well positioned with a strong and established brand to capitalize on this opportunity, when / if the market ‘opens up’

Regulation

• High Tide benefits from the regulatory focus and overhang on the cannabis retail sector as it represents a strong barrier to entry, making it more challenging for new competitors to enter market
• Participants in the market need to have licenses and ensure consistent compliance with laws to continue operating – failure to comply can result in significant financial penalties
• Personally I normally don’t like investing into retail. There are usually fairly limited barriers to entry, minimal differentiation and negligible customer loyalty, however the cannabis market does have different characteristics in this respect and makes it a more compelling proposition
• Regulation also benefits those with scale, something High Tide has as the leading player in the market. It costs money to obtain and retain licences to operate and it costs money to ensure compliance with all the laws and regulations and that all staff are acting in accordance with these
• Some parallels in this respect which can be drawn to casino gaming in casinos; you don’t see new casinos popping up at the same rate which you see new restaurants or apparel stores opening

Demand

• There’s a lot to like about the demand dynamics for High Tide. It’s vice-nature means that demand is less correlated to disposable incomes. Given where we are in economic cycle, especially important consideration
• For those doubting this, check alcohol, tobacco or gambling expenditure across economic cycles historically, for a proxy

Strong performance throughout COVID-19 crisis

• Despite heavy weighting towards brick and mortar, (the most hard hit part of retail) it has effectively managed the shift to online, which is a positive
• Has relied on government support and financial assistance in the form of job retention schemes (address in more detail later in post)
• This demonstrates management are capable and have effectively navigated the challenging situation

Data

• Massively summarized from the video, (and my video on KERN) so check that out if interested in this point, however, they have unique access to supply chain data which could be monetized effectively and generate strong levels of recurring revenues
• Other established sectors have a trusted party with such unique access to data (e.g. alcohol, lithium, different foods, etc.) and the opportunity here is enormous
• I would like to see High Tide capitalize on this

Forecasts financials & analysts

• Currently 2 analysts covering High Tide, both have a buy rating on the business
• Their coverage is slightly outdated (expect this being updated soon and a further catalyst for positive price action) and their price targets are 60c; at the time their reports were published, they were forecasting a 4x upside (HITI was trading at ~15c)
• Same analysts also forecasting strong growth - 77% CAGR to 2022. They are forecasting revenues of around $250m and EBITDA of $46m. A reminder here, these are professional analysts, not YouTube students – these come from their financial models, the assumptions of which are discussed with management

​
https://preview.redd.it/5pwznbe5xmg61.png?width=602&format=png&auto=webp&s=bb1be853d9db5eaa7dc3c7b26630a173bbd064cf
Valuation

• Going to go quick here, its explained more slowly in the video but High Tide is currently valued at a significant discount to the other listed peers
• Looking at EV / FY+1 Sales multiples – EBITDA not meaningful as some of the peer group are EBITDA negative and High Tide itself has only recently become EBITDA positive

​
https://preview.redd.it/l52oajp6xmg61.png?width=342&format=png&auto=webp&s=e31e1944101c6488a24f470bc3b91744f4c2dccf

• Personally, I think Planet13 is the most comparable given its business model
• Taking both Planet13 multiple and peer group average multiple, this is then applied to High Tide’s forecast FY+1 sales to calculate an enterprise value – this is adjusted for net debt to get to a market capitalization and then divided by the share count to get an implied share price
• The table below shows the implied stock price valuations from this analysis

​
https://preview.redd.it/2j51fwigxmg61.png?width=406&format=png&auto=webp&s=f678c5c66ced846ac45fa698c7e454f71a4232b6
NB – assumed the following:

1. Net debt will change in coming year given the capital structure and a large number of convertible notes – this has been ignored given it will have small impact on the price
2. The share count will change as a result of dilution from various instruments – if this bothers you massively then look at the valuation discount on the basis of the enterprise value as it does not impact this (and only slightly on the market cap given minimal impacts to cash from instrument execution, etc.)
3. Not accounting for any stock split, consolidation or any other M&A deals
4. The FY21 financials are on the basis of the mean broker estimates from Thomson Reuters – Seeking Alpha has different and slightly outdated ones

Investment Risks & Mitigants / Outstanding DD points
Exposure to changing regulation

• US is only a small part of the market which High Tide addresses, while a change in regulation would have a big impact on the company, currently it is unlikely this would happen, given the discussions about potential federal legalization
• Canada regulation is established and not going anywhere
• Other countries likely to legalize and regulate cannabis, as outlined earlier

Dilution

• No escaping that there will be some significant dilution for shareholders, as pointed out in the table below, but this should be already priced into the stock
• Potential that new equity issuances could occur to help finance growth, but provided this growth is delivered, it should be accretive for the stock price

​
https://preview.redd.it/t0im6idhxmg61.png?width=602&format=png&auto=webp&s=4bff366e68eeeadd5ac49ab5d97885685a327a6b
Potentially misleading cost basis information

• A risk that investors need to be aware with for all companies which have relied on government financial support during COVID-19 measures. Such support has resulted in the number of businesses going bankrupt decreasing massively – this is at a lower level than it ever normally is and is masking some real underlying issues within companies. As investors we need to be open eyed about this
• As High Tide has benefited from support in the form of the Canada’s Emergency Wage Support scheme, there is the risk that once this is lifted it may become apparent that the cost base has not been effectively managed
• Personally, I think this is mitigated by the synergy analysis conducted as part of the M&A. A full cost base analysis would have been conducted to calculate the potential $8.4m synergies so strong likelihood that this is under control, but should keep on our radar and reassess

Marketing expenses and celebrity licenses

• Need more information to ascertain whether these are underpinned by a compelling ROI. Seen a lot of people suggest this is a great positive, but the impact on sales volumes from these is unknown, as is the terms of these license agreements (e.g. split between upfront fee vs. volume-based fee)
• No escaping the fact that it is an increased cost and so need to understand the ROI this generates to determine whether it really is compelling
• Is there really more demand to pay a premium for Snoop Dogg bongs, Guns n Roses papers, Cheech & Chong grinders, or whatever they may be?
• So far management have suggested this has been helpful in driving new sales, but this is something to dig into more

If you want to check out the video, it would be appreciated: https://youtu.be/qsjwU7kkPsw

https://preview.redd.it/xjhrt7bmej261.png?width=600&format=png&auto=webp&s=ba0c5d69a3b70e0d4d94fd6a5443214a215081fe
"Final Report will add the analysis of the impact of COVID-19 on this industry."
Global “Gambling Market” share report highlights various trends and dynamics, new and innovative technology, and mergers & acquisitions that are expected to make a positive impact on the overall industry. Gambling market has been studied in terms of applications, specifications, and quality, which makes a positive impact on the growth of the businesses. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally and this report covers the current COVID-19 impact on the Gambling market growth.
Get a Sample Copy of the Report at - https://www.industryresearch.co/enquiry/request-sample/16170892
Global Gambling Market research report growth rates and the market value based on market dynamics, growth factors. The complete knowledge is based on the latest innovations in the industry, opportunities, and trends. In addition to SWOT analysis by key suppliers, the report contains a comprehensive market analysis and major player’s landscape.
The report also includes detailed information about the market players that are operating in the market. Some of the major industry players that are listed in the report include:

• Betsson Group
• Casino di Campione
• Galaxy Entertainment Group
• Camelot Group
• Paddy Power Betfair
• Betclic
• INTRALOT
• Bet-at-home.com
• The Casino at the Empire
• Casino Estoril
• MGM Resorts
• 888 Holdings
• Casino de Monte Carlo
• Resorts World Birmingham
• New York State Lottery

To Understand How Covid-19 Impact Is Covered in This Report - https://www.industryresearch.co/enquiry/request-covid19/16170892
A detailed examination is done on each of the segments and is provided in the Gambling market report. Based on the performance of the Gambling market in various regions, a detailed study of the Gambling market is also analyzed and covered in the study.
Gambling Market Segmentation by Types:

• Lottery
• Betting
• Casino
• Others

Gambling Market Segmentation by Applications:

• Offline
• Online

Questions Related to the Gambling Market Report:

• Which regional market is covered in terms of market share and size?
• Who are the most-established players in the global Gambling market landscape?
• What are the different strategies used by players to market their products during the COVID-19 pandemic?
• How are emerging market players expanding their presence in the Gambling market?
• What is the result of the SWOT analysis included in the report?

Inquire or Share Your Questions If Any Before the Purchasing This Report -https://www.industryresearch.co/enquiry/pre-order-enquiry/16170892
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate, historic and forecast (2015-2025) of the following regions are covered:

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America

The Gambling Market Report Provides:

• An overview of the market
• Comprehensive analysis of the market
• Analyses of recent developments in the market
• Events in the market scenario in the past few years
• Emerging market segments and regional markets
• Segmentation of market by regional level with types and applications
• Historical, current, and estimated market size in terms of value and volume
• Competitive analysis, with company overview, products, revenue, and strategies.
• An impartial assessment of the market
• Strategic recommendations to help companies increase their market presence

Purchase this Report (Price 3500 USD for a Single-User License) - https://www.industryresearch.co/purchase/16170892
Detailed TOC of Global Gambling Market Research Report with Opportunities and Strategies to Boost Growth- COVID-19 Impact and Recovery
1 Market Overview 1.1 Product Definition and Market Characteristics 1.2 Global Gambling Market Size 1.3 Market Segmentation 1.4 Global Macroeconomic Analysis 1.5 SWOT Analysis
2. Market Dynamics 2.1 Market Drivers 2.2 Market Constraints and Challenges 2.3 Emerging Gambling Market Trends 2.4 Impact of COVID-19 2.4.1 Short-term Impact 2.4.2 Long-term Impact
3 Associated Industry Assessment 3.1 Supply Chain Analysis 3.2 Industry Active Participants 3.2.1 Suppliers of Raw Materials 3.2.2 Key Distributors/Retailers 3.3 Alternative Analysis 3.4 The Impact of Covid-19 From the Perspective of Industry Chain
4 Market Competitive Landscape 4.1 Industry Leading Players 4.2 Industry News 4.2.1 Key Product Launch News 4.2.2 M&A and Expansion Plans
5 Analysis of Leading Companies 5.1 Company 1 5.1.1 Company Profile 5.1.2 Business Overview 5.1.3 Gambling Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.1.4 Gambling Products Introduction 5.2 Company 2 5.2.1 Company Profile 5.2.2 Business Overview 5.2.3 Gambling Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.2.4 Gambling Products Introduction
6 Market Analysis and Forecast, By Product Types 6.1 Global Gambling Sales, Revenue and Market Share by Types (2015-2020) 6.2 Global Gambling Market Forecast by Types (2020-2025) 6.3 Global Gambling Sales, Price and Growth Rate by Types (2015-2020) 6.4 Global Gambling Market Revenue and Sales Forecast, by Types (2020-2025)
7 Market Analysis and Forecast, By Applications 7.1 Global Gambling Sales, Revenue and Market Share by Applications (2015-2020) 7.2 Global Gambling Market Forecast by Applications (2020-2025) 7.3 Global Revenue, Sales and Growth Rate by Applications (2015-2020) 7.4 Global Gambling Market Revenue and Sales Forecast, by Applications (2020-2025)
8 Market Analysis and Forecast, By Regions 8.1 Global Gambling Sales by Regions (2015-2020) 8.2 Global Gambling Market Revenue by Regions (2015-2020) 8.3 Global Gambling Market Forecast by Regions (2020-2025)
For Detailed TOC - https://www.industryresearch.co/TOC/16170892#TOC
Contact Us:
Name: Ajay More
Phone: US +14242530807/ UK +44 20 3239 8187
Email: [email protected]
Our Other Reports:
Clean-up Gel Permeation Chromatography Market Revenue, Business Growth 2020: Demand and Applications, Business Statistics, Competitors Strategy, Size, Share Forecast to 2026 | Industry Research.co
Fountain Machines Market Growing Business Factors 2020: | Latest Opportunities, Technological Advancements, COVID-19 Impact on Industry Size and Share Forecast to 2025
Sustainable Corn Oil Market - Trends, Revenue, Segmentation 2020 COVID19 Impact Analysis, Demand by Business Growth, Top Key Players Update, and Research Methodology by Forecast to 2025
Plastic & Biopolymer Antimicrobial Packaging Market Size and Growth Forecast 2020 to 2026 | Future Trends, Historical Analysis, Business Statistics and Regional Revenue of Manufacturers with Share Analysis - Industry Research.co
Flameless Explosion Vents Market 2020: Global Industry Size, Future Plans of Leading Manufacturers, Growth Key Factors, and Share Forecast to 2026 | Industry Research.co
Digital Enhanced Cordless Telephone Market Growth Rate and Business Share 2020: Global Industry Current Trends, Top Companies, Sales and Drivers Analysis Research Report to 2026 | Industry Research.co
Almond Market Revenue, Business Growth 2020: Demand and Applications, Business Statistics, Competitors Strategy, Size, Share Forecast to 2026 | Industry Research.co
Aviation Leasing Market Growing Business Factors 2020: | Latest Opportunities, Technological Advancements, COVID-19 Impact on Industry Size and Share Forecast to 2025
Bromobutyl Rubber Market by Key Insights 2020, Top Industry Trend, Size and Growth Factors, Segmentation by Key Regions and Future Scope Forecast till 2026 | Industry Research.co
Metal-Bonded Carbon Market Analysis with Impact of Covid-19 on Industry Size 2020 | Future Growth and Challenges by Manufacturers and Marketing Strategy Forecast to 2026 | Industry Research.co
Home Fragrances Market - Trends, Revenue, Segmentation 2020 COVID19 Impact Analysis, Demand by Business Growth, Top Key Players Update, and Research Methodology by Forecast to 2025
Sports Supplement Market Size and Share Analysis 2020: with Covid-19 Impact on Global Business Growth, Forthcoming Developments Forecast to 2026 | Industry Research.co

​
Rizk Casino free spins and no deposit bonus
Sign up with Rizk Casino and receive 50 no deposit free spins. This exclusive promotion is combined with a 200% match bonus on the first deposit. Deposit $50 and receive $150 to play for.
>> Get No Deposit Bonuses <<

An Overview of the Rizk Casino Online Game Selection

An online casino is only ever as good as its game selection, and to get ahead in today’s competitive market it’s crucial to have a healthy mix of new titles, golden classics, and live offerings. I was pleased while reviewing Rizk Casino online that it managed to strike a strong balance between genres and formats, while boasting an ever-expanding library of recent additions. In this section, I’ll be breaking down the operator’s games library and getting into the nitty gritty of its payouts, betting limits, and more.

Slots, Blackjack, and New Favourites

Slots remain one of the most popular game categories in online casinos, so it should come as no surprise that the operator has scores of slots on show. Rizk Casino games run the gamut from classic slot titles to newer variants, like the frightfully Hitchcockian Psycho, themed around the classic horror film of the same name. One of the site’s current rising stars is the Phantom’s Curse, another property of Universal’s, featuring the iconic Phantom of the Opera. If you’re not keen on a side of spookiness with your slots, you can always opt for the more light-hearted Secret Romance. All in all, players can expect to find over 500 slots to choose from, catering to every conceivable taste.
Though there’s a wealth of options to be found in the Rizk Casino online slots library, its table and card game selection is decidedly more limited. When it comes to its roulette and blackjack offerings, the site steers clear of flashy novelties and sticks with clear-cut, classic variations. Deal Or No Deal Blackjack is the lone themed game, with the rest strictly emulating the casino favourites we all know and love faithfully. All the games can be played for free, meaning you can try your hand at a number of different titles before putting any money on the line.
Disappointingly, Rizk doesn’t yet offer scratch cards or arcade games, though given the increasing popularity of both in the past few years it’s likely that they’ll be added to the roster in good time. If the lack of scratch cards is a deal breaker for you, you might be more interested in checking out BetVictor. What the site does offer, however, is its novel Wheel of Rizk. The Wheel of Rizk has proven to be one of the casino’s biggest draws, and a feature that sets Rizk apart from its many competitors. Players can steadily fill their power bar while playing games, and once it’s full they can spin the wheel for the chance to win a variety of exciting prizes. The more you fill the power bar, the more you level up, resulting in greater jackpots and superwheels being added to the wheel. Basically, the more you play, the greater your chance of winning big at the wheel.
>> Get No Deposit Bonuses <<

Live Gaming with Rizk

If you visit Rizk Casino online, you’ll find its live games are powered by not one, but two industry heavyweights – NetEnt and Evolution Gaming. Both developers pride themselves in providing crystal-clear streams and charming dealers, giving you the best online casino experience possible. In Rizk’s live casino lobbies you can take your pick from a host of different tables, game variations, and dealers, ensuring that every player can find a game that suits their needs. Play against other players, or against the casino itself in games like Caribbean Stud Poker.

Gaming on the Go

Let’s face it, most of us do everything from our phones nowadays. Thankfully, the Rizk Casino site is fully optimized for mobile, so you can enjoy a wide selection of its games no matter where you are. You can play Rizk Casino games straight from the mobile browser or download the Rizk app for free for both iOS and Android. Though not all of Rizk’s games are available on the casino’s mobile version, you can still enjoy 446 different slot games and the full scope of the live casino.

Limits to Suit Every Player

Now that I’ve given you the low-down on the game selection, it’s time to take a look at Rizk Casino’s betting limits. After all, what good is a game selection if you can’t place bets based on your budget? Whether you’re a high-roller or looking to take fewer rizks with your bank balance, you’re likely to be satisfied with Rizk’s limits. As you might expect, limits differ from game to game. Minimum bets on the slot games range from 1p to £1.50. Maximum slot bets range anywhere from 25p to a whopping £1,500.
Rizk’s live table games come with similarly broad limits. You can play a hand of blackjack for a mere £1 or, if you’re feeling lucky, take your chances at a VIP table for £300. Maximum limits for blackjack start at £40 and go as high as £2,500. If you’re hoping to strike big at roulette, however, be aware that the upper limit is capped at £1,500. Though the maximum bets don’t hit quite as high as some competitors, there’s still plenty of room at Rizk for players of all budgets.
>> Get No Deposit Bonuses <<
​

Examining the RTPs

If you’re a seasoned player, you’re probably already well-versed in the importance of RTPs, or “return to player” rates. For those of you just starting out, this refers to the percentage of money paid out by the casino to players over time. In the simplest terms, the higher the RTP percentage, the higher your chances of winning. For example, slot games usually have an RTP of 90-98%. That’s why it’s always a good idea to get a feel of a game’s RTP to get the most out of your gaming experience. Due to the volume of games in certain categories, RTPs are typically presented in averages ranging between different percentages. If you want to check the individual RTP of any particular game, you can do so in the “How to Play” instructions.
Like any other casino review, this review simply wouldn’t be complete without an overview of Rizk Casino payout rates. Thanks to the fact that the establishment is still fairly young, its RTPs are pretty competitive. This helps it to attract new players, and is ultimately good news for you, the player.
Generally, the payout rates for games like roulette and blackjack are better than those for slots, though Rizk Casino payout rates differ slightly from the norm. The casino’s video slots boast an RTP range of between 96.5% and 99.6%. Rizk’s roulette games, on the other hand, offer an RTP range of 94.5% to 97.3%, meaning that in this rare instance video slots could give you a better payout than a game of roulette. The best payout rates at Rizk, however, are in its blackjack games with a payout range of 99.4% to 99.5%.

What You Need to Know About Rizk Casino’s Software

In the interests of leaving no stone unturned in this review, I made sure to give the website a thorough look. With that in mind, I wanted to spare a moment to discuss Rizk Casino software. At first glance, the site is laid out super cleanly. Super being the operative word, as it’s here that you’re likely to become quickly acquainted with the operator’s mascot, the spandex-clad superhero Captain Rizk. The superhero theme continues throughout the descriptions of all Rizk Casino games, which often include fun references to the Captain and his faithful sidekick, Lucky the Superdog. This attention to detail, paired with the easy-to-navigate layout of the casino, makes a welcome change from other online casinos that can often present their games in a way that’s confusing and overwhelming to new players.
All titles are grouped neatly into categories on the homepage. This includes a category for recent arrivals, so you never have to look far for fresh new games to play. Sadly, Rizk Casino is restricted in a long list of countries, most notably the United States and Australia. If you’re lucky enough to be living in the UK, you have the option to play in any of the following languages: German, Swedish, Norwegian, and Finnish.
As mentioned previously in this review, Rizk Casino’s live games are powered by NetEnt and Evolution Gaming, and this commitment to high calibre developers is evident throughout the casino. Its other games come courtesy of such big names as Play’n GO, Scientific Games, and Microgaming, all of whom have made their marks as some of the best developers in online gaming today. Though it may be young, Rizk Casino’s software is on par with that of older, more established casinos online, marking it as a true contender.
>> Get No Deposit Bonuses <<

An Overview of Rizk Casino’s History

As I’ve already mentioned in this Rizk Casino review, Rizk are a fairly recent addition to the world of online casinos. Since its founding in 2016, it has been operated by MT SecureTrade Ltd, part of the Gaming Innovation Group. The Gaming Innovation Group holds the honour of being one of the largest iGaming product suppliers in Northern Europe and has offices across 35 different countries.

Notable Facts About the Casino

As part of the MT SecureTrade family, Rizk Casino is a sister company of Guts Casino and Betspin. Not bad company to be in, considering Guts took home the 2014 award for Best Casino at the Casinomeister awards. Success obviously runs in the family, as Rizk nabbed both the Best New Casino and Best Player Experience awards at the 2016 Casinomeister awards. It followed this success by racking up nominations at 2017’s EGR Nordic Awards, including Best Casino Operator and Socially Responsible Operator. Its rapid rise to popularity and critical claim stands as testament to the quality of the products and services it provides to its user base.

How Does Rizk’s Customer Support Measure Up?

No casino is ever totally perfect, so if ever you have complaints or queries it’s important that you can contact customer support quickly and effectively. For the most part, the site’s customer support is pretty strong. You can contact Rizk Casino online via a live chat option, which can be found alongside the casino’s main categories. You also have the option to contact customer support via email. Support is offered through all of the languages currently available on Rizk too, so nothing is likely to be lost in translation. One area where Rizk’s customer service could stand to improve, however, is through the addition of a customer service phone number. For those of you who prefer to solve issues over the phone, or simply desire the reassurance of a human voice to guide you through your query, Rizk’s lack of phone support might come as a bit of a disappointment.

Security and Safety

In this Rizk Casino review I’ve touched on the game selection, RTPs, and customer support, all of which are important elements to consider when looking at a casino. However, arguably the most important aspect of any operator is its safety and security measures. Ensuring that the casinos you visit hold valid licences should always be your highest priority. All information on a casino’s licences should be readily available on its website. The company holds licences from both the Malta Gaming Authority and the United Kingdom Gambling Commission. Both regulatory bodies are known for their strict standards, and a licence from the UKGC is a requisite for any casino operating in the UK.
Rizk has made every effort to ensure the safety and protection of its customers’ data. It utilizes Secure Sockets Layer (SSL) encryption in handling sensitive data, so players can enjoy complete peace of mind. That said, there’s more to player safety than just data protection, which Rizk knows all too well. There’s a reason why it was nominated as a socially responsible operator, and a great deal of that is down to its commitment to responsible gaming. This commitment includes a zero-tolerance policy when it comes to criminal activities like money laundering, as well as providing players with resources for help and support. If, at any point, players become concerned about their own gaming habits, they can set financial limits, and opt for time out periods or self-exclusion. Players can also avail of a reality check, where the casino will send them a reminder of how much time they’ve spent playing.
>> Get No Deposit Bonuses <<

Bonuses and Benefits

Winning a best player experience award in your first year of operation is no easy feat, yet Rizk confidently established itself as the hero players need and deserve. Its overall popularity has been helped in large part by its attractive bonuses. As a welcome bonus, players can avail of a free spin of the Wheel of Rizk after registration. You’ll also get 50 extra spins on Second Strike, which are distributed over the course of five days at ten spins a day. Once you’ve got things rolling, you can also enjoy an additional 100% welcome bonus on deposits between £10 and £100. Just be aware that you have to wager this bonus amount 40 times before you can withdraw your money.
When it comes to special games, the site earns full marks thanks to its comprehensive array of slots and frequent new additions. Beyond welcome bonuses, Rizk is a casino that really rewards loyalty. Rather than relying on a VIP club which charges for exclusive membership, Rizk Casino rewards its returning players with more chances at the Wheel of Rizk. The wheel effectively gamifies the entire site, allowing the player to rack up more opportunities to win big the more they play.

Bottom Line – A Worthwhile Up-And-Coming Casino

Ultimately, Rizk Casino is definitely not a casino you want to miss out on. I had a lot of fun looking playing through its games for this Rizk Casino review, and it’s clear that it has what it takes to become a popular destination for newbies and seasoned players alike. Its straight-forward, no-nonsense site layout echoes its “Real Rewards, No Bullshit” mantra, marking it as a refreshingly accessible and frank online casino.
Rizk’s mobile capabilities are also worthy of praise. It’s obvious that the operator understands the current market and the needs of players really well, and it shows in its dedication to mobile flexibility. Being able to choose between the mobile browser or the official app is a huge advantage for players, especially those who might want to give the casino a test spin before sacrificing some precious RAM by downloading the app.
As it currently stands, Rizk’s biggest weakness is probably its lack of customer support phone call. While not a huge mark against it, Rizk could probably benefit from adding a phone number. Its live chat is a top-notch service, but to truly satisfy the needs of customers it could do with diversifying its customer service options a bit more. Like I said, it’s just a small quibble with an otherwise innovative and interesting casino that’s sure to continue to attract fans. If you’re interested in finding more highly-rated online casinos, you can check out my page for casino reviews.
>> Get No Deposit Bonuses <<

WHICH GAMES ARE THEY?
The main reason that traditional playing cards first spread across the world is due to their primary use: for playing card games. But you don't need others to play card games, courtesy of solitaire card games. These have existed for decades, going back as far as the 19th century. But there's no doubt that the arrival of the personal computer into office spaces and homes has had an enormous impact in introducing these classic games of patience to the masses, and in popularizing them.
Arguably the single biggest reason for this is Microsoft. Microsoft first began packaging a simple version of Klondike Solitaire with their operating systems with Windows 3.0, which was the third major release of Microsoft Windows, and came out in 1990. At the time, desktop computers had only just become a staple in homes and work-places. Part of the rationale for including a solitaire card game was to assist new users in learning how to use a mouse, and to help them become familiar with features like dragging and dropping, and the overall graphical interface of a personal computer. As Microsoft continued delivering new versions of their Windows operating system in later years, a couple of other solitaire card games were added, notably Spider and FreeCell.
This development single-handedly revolutionized office-culture around the world. It's a little known fact, but sources within Microsoft have stated that Solitaire is in fact the most used software program in the entire Microsoft family, even ahead of programs like Word and Excel. At the time, it even led to debates about whether introducing computers into the workplace would actually decrease productivity, due to real concerns that Microsoft Solitaire was leading to many hours of time wasted by employees.
​
https://preview.redd.it/yw9nk8tvdmc51.jpg?width=600&format=pjpg&auto=webp&s=338bc8b84aaac968213494c002299ea9152872f3
What accounts for this tremendous success? First of all, digitizing what was already a popular game meant that it removed the practicalities and constraints involved in using a physical deck of cards. By eliminating the hassles of shuffling, dealing, and physically moving cards, and taking away the requirement for a reasonable amount of table space, all the book-keeping and tedious elements of the game were instantly eliminated. Now solitaire card games could be played much more quickly and easily.
Software versions also created new opportunities for the game that didn't previously exist. Digital implementations made it possible to record percentages of wins, best times, and win streaks, all of which give additional incentives to return to the game. They also made possible forms of the game that - for logistical reasons - would be difficult or impossible to play in real life with a physical deck. Digital versions of solitaire were also easier to learn, given the enforced rules, automated layouts, and instructional tutorials that typically accompanied them. And of course, solitaire has an addictive quality about it, given the inherent challenge of trying to win from a deal. Being able to easily and quickly play a game of digital solitaire makes it a highly attractive time-filler. Despite the advent of flashier and more impressive games, people keep returning to the simplicity of dragging cards around for a quick five or ten minute fix of Solitaire.
But this also explains how the three most played solitaire card games in the world accomplished this status. As Microsoft Windows was slowly conquering the world and asserting its monopoly on the global market of operating systems and personal computers, their versions of solitaire were the ones that became firmly established into homes and offices. So we have Microsoft to thank for making Klondike the solitaire game that nearly all of us are familiar with. For many people, this is the game that they identify "Solitaire" with.
With Microsoft adding Spider and FreeCell in later years, these two games were quickly adopted and became beloved by solitaire fans as well, causing them to leapfrog many other classic solitaire games in popularity, and make them the most commonly played versions of solitaire behind the evergreen Klondike. With the release of Windows 8 in 2012, this trilogy of titles was rebranded under the name "Microsoft Solitaire Collection", as part of an ad-supported freemium package that also included two new solitaire additions: Pyramid and TriPeaks.
While there are many other classic solitaire games that exist and are played around the world, in terms of the sheer number of games played, Microsoft's holy trinity of Klondike, Spider, and FreeCell unquestionably reigns supreme. As proof of its success, Microsoft Solitaire was inducted into the World Video Game Hall of Fame in 2019, alongside other greats like Doom, Donkey Kong, Tetris, Super Mario Kart, World of Warcraft, and The Legend of Zelda. To get there, it had to meet criteria that included being widely known and remembered, having enduring popularity, and not only influencing other games but culture in general. It's estimated that it has been installed on over a billion devices, localized in 65 different languages, and is considered to be instrumental in paving the way for the growth of the casual game market.
​
https://preview.redd.it/x2473u9ydmc51.jpg?width=600&format=pjpg&auto=webp&s=059922b3200f4e0d679ab3b8ed61ebc623a3857a
Of course today there are many more ways to enjoy these popular solitaire greats. Besides apps for your mobile device, all you need is a web browser, and sites like Solitaired.com enable you to play them for free online wherever you are in the world, as long as you have an internet connection. Besides dragging and dropping cards with the click of a mouse on your personal home or office computer, touch screens have only helped to increase the number of ways you can play solitaire, especially on mobile devices. So let's take a closer look at the three most popular solitaire card games.
KLONDIKE
Overview: Klondike is the solitaire game most of us will be familiar with from our personal computer, or that we've seen bored staff playing in the office. It's the quintessential solitaire card game that everybody should at least try once, and is the game most people have in mind when they think of "solitaire". Its name has its origin in the late nineteenth century gold rush in the Klondike part of the Canadian Yukon, where prospectors would play the game in order to help pass the time. It sometimes goes under other names like Canfield (in the UK), although this latter name is technically incorrect, and actually refers to a different solitaire game.
Game-play: Using a single deck, the aim is to arrange all 13 cards of each suit in a complete sequence from Ace through King. These sequences begin with the Ace as the foundation and build upwards, hence games like this are typically described as builder type solitaire games. Cards are placed in an area called the tableau, and the initial deal involves laying out seven piles, ranging from 1 to 7 cards on each, and with only the top card of each pile turned face up. These cards can then be arranged within the tableau by building downwards in alternating colours, and moved between columns to in order to access other cards. Only a King or column built down on a King can be transferred to a free space in the tableau. Unlike an open game where all the cards are visible and face-up from the start of the game, Klondike is an example of a closed game, because not all the cards are known, and slowly become revealed as you make them available.
Variations: The most common way of using the stock is to deal three cards at a time, but many people also play with an alternative rule in which you deal one card at a time, which is sometimes called Las Vegas Solitaire, and even played as a gambling game in some casinos. This gives you access to many more cards and increases your chances of completing the game successfully. To make the game harder, you can also limit the amount of passes through the deck to just three times, or only once.
My thoughts: Depending on which variation you're playing with and how many redeals you allow, a skilled player should be able to win standard game of Klondike nearly half of the time. It is very satisfying to finish a game and get all the cards onto the foundation, but be warned, because it's also very addictive! Once you're familiar with how the game works, you can polish off an entire game in as little as five minutes, making it an ideal choice for a casual game to keep returning to. It's also a game you can get better at, and for some excellent suggestions on improving your strategy, check out the article 7 Strategies to Win Solitaire.
​
https://preview.redd.it/kqy0hgm6emc51.jpg?width=600&format=pjpg&auto=webp&s=42a61300151e622f01739680d0cd37c9d5c6ba3e
Related games: If you want an easier Klondike style game that you should be able to win nine times out of ten, try Westcliff, which has ten columns; or Thumb and Pouch. There's also the easier two deck version of Klondike called Double Klondike, as well as Gargantua and Harp; while the two deck game Lady Jane is even easier yet, and you should be able to win 99% of the time. If you enjoy Klondike and want to try similar games, variations worth trying include Agnes Bernauer and Agnes Sorel. Easthaven adds a tricky Spider-like method of dealing the stock, while Blind Alleys and the closely related Pas Seul use a 6x3 tableau.
Many other Klondike-inspired builder games exist which change more significant things about the game-play. One of the more popular ones is Yukon, in which the entire deck is dealt at the outset, and where you can move columns of cards even if the cards being moved aren't in sequence. This gives you easier access to cards, but the columns consist of more cards to begin with.
Two players: For a version of Klondike that enables you to play competitively with another player using two decks of cards, take a look at Double Solitaire. Players have their own deck and tableau, and the aim is to be the first to play all your cards to eight foundations piles which are shared. As well as turn-based play, this can also be turned into a real-time race game of frenzied simultaneous solitaire.
SPIDER
Overview: One of the two games that lurks most closely in Klondike's shadow is Spider. Along with FreeCell, it has risen into prominence courtesy of Microsoft Windows, and chances are good that you've seen a version of it on your home computer along with other common games like Chess, Minesweeper, Hearts, and Spades. It is said to be a favourite of president Franklin D. Roosevelt. Many consider it to be the best solitaire game since it gives a lot of room to overcome the luck of the draw by skillful play, and comes with a good chance of winning the game. According to Gregory Trefry's Casual Game Design, by 2005 it had outstripped Klondike and become the most played game on computers that had Microsoft Windows, largely due the increased challenge it offers over the more luck-based Klondike.
Game-play: A game of Spider uses two decks of cards, and the game starts after dealing out 54 cards out in a tableau of ten piles. Like Klondike, the aim is to get cards of the same suit in order from Ace through King, but in this case there are no foundations. Columns of cards remain in the tableau until you line up a whole column of a suit in order, descending from King down through Ace, at which point they are removed from the game. Cards can be moved within the tableau in a somewhat similar fashion to Klondike, but whenever you need fresh cards, the 50 cards remaining in the stock are dealt out 10 at a time across the entire tableau.
Variations: In the standard form of the game, which is the hardest way to play, you play with all four suits, and while descending columns of alternating colours can be built, you can only move a stack if they are all of the same suit. This is generally considered the more Advanced form of the game, while an Intermediate form of Spider uses two suits and makes the gameplay easier by only using Spades and Hearts. The one suit game only uses cards from a single suit, and can be considered the beginner version, and serve as an excellent introduction to Spider. Officially all spaces in the tableau must be filled before dealing from the stock, but a more relaxed form of the game is possible by removing this requirement.
My thoughts: Unlike Klondike, in Spider all the building happens within the tableau, so that immediately gives it a different feel. Winning Spider, especially in its standard form, can prove quite a challenge. But it's also one of the best solitaire games in view of the analysis and skill it allows for. New players should begin with one suit Spider, and you can always progress to the more difficult and strategic versions later. Single suit Spider is easily winnable most of the time, and is a more relaxing way to play. But even an easier game of Spider will take two or three times as long as a game of Klondike. While taking longer to play, it gives more room for skill and thoughtful play, and comes with the reward of increased chances of completing the game successfully. Microsoft's versions of Spider incorporated a scoring system, so that players could use "undo" in order to discover hidden cards and use this to determine their choices, but with a small point penalty.
​
https://preview.redd.it/nmgcto1aemc51.jpg?width=600&format=pjpg&auto=webp&s=a80aea462f885f3f6ce642c9161c44d16e909ac5
Related games: Given the popularity and success of Spider, many other solitaire games exist that take over its basic concept, such as Mrs Mop, which has all the cards dealt face-up at the outset, and Beetle. Tarantula and Black Widow both make Spider easier by allowing you to move sequences in the tableau that are of the same colour (Tarantula), or of any colour (Black Widow). Spiderette is a single-deck version of Spider, and uses just seven columns Instead of ten, which are dealt out in a triangular style much like Klondike. Like the standard game, the way the cards are dealt can play a big role in whether or not a particular deal is solvable. Other common one-deck Spider games include Will o' the Wisp (which has a 7x3 tableau) and Simple Simon.
Special mention should be made of the popular game Scorpion, which allows stacks to be moved within the tableau even if they aren't arranged in order, in the style of games like Yukon. It's not easy to win, however, and the Wasp variation increases your chances significantly by allowing any card or stack to be placed in an empty space in the tableau, not just Kings. Three Blind Mice is another favourite Scorpion variant, and uses a 10x5 tableau.
FREECELL
Overview: FreeCell emerged out of relative obscurity in 1995 as a result of its inclusion in Microsoft Windows 95. Even though it was created by Paul Alfille already as early as 1978, it was only when it was brought into the public eye with the help of Windows, that it quickly became an addictive pastime for many, and gained a loyal following. Just a few years later it was included along with Minesweeper in the chapter "Computer and Online Games" of the published version of Hoyle's Rules of Games. Fan websites were even created for it with information about the different deals, and strategies.
Game-play: At the start of the game, a single deck is dealt face up into eight columns. There are four foundation piles, and as in most solitaire games, the goal is to build cards from each suit in ascending sequence from Ace through King. But in addition to these foundation piles, there are four storage cells that can be used to temporarily store a card from the bottom of any column, and that's where the real fun of FreeCell lies. Cards in the tableau are arranged down in alternating colours, and such sequences can be moved between columns - but only with the help of available cells - while a space created in the tableau can be filled with any card.
Variations: FreeCell has inspired many variants and related game, which are too many to list. Several of these are true to the basic concept, but simply increase the number of cards in the game. For example, there is also a two-deck version called FreeCell Duplex. There is also a version with three decks and one with four decks.
My thoughts: FreeCell has the distinction of being a solitaire card game that lends itself particularly well to a digital implementation. In the Windows version, each unique deal was assigned a different number, nearly all of which were solvable, and people could use this number to attempt the same deal as other players. The computer could also calculate which moves were possible and which were not. While later versions came with over a million unique deals, the original Microsoft FreeCell supported 32,000 numbered deals, dubbed as the "Microsoft 32,000". In the hey-day of FreeCell in the mid 1990s, a crowdsourced project assigned all these deals to different people, successfully completing all but one of them. Given that all the cards are visible at the start of the game, FreeCell is an open game and you have perfect information to work with from the outset, so there are no surprises awaiting you. Winning requires sheer skill, and there is very little luck.
​
https://preview.redd.it/sdpdz9rcemc51.jpg?width=600&format=pjpg&auto=webp&s=8ad1347423b051900ca92b1bacdc1e5f28ba1808
Related games: FreeCell has among its ancestors Eight Off and Baker's Game. In both games you build down in the same suit instead of in alternating colours. Eight Off gives players the added advantage of having more storage cells to use. It was the novel use of alternating colours that helped make FreeCell a big success, but these two predecessors are also very good.
Given its tremendous popularity, FreeCell has inspired many other games of its kind, many with small twists to the setup or rules. One popular take on this style of the game include Art Cabral's excellent Seahaven Towers, which has a different starting layout. Also highly recommended is David Parlett's Penguin, which has seven reserve cells, and gives you three of your starting foundation cards but buries the fourth one at the bottom of the first column in the tableau; this is the "penguin" that you must free.
CONCLUSION
The above three solitaire games can all be described as builder-type games, and there are many other builder-type solitaire games that have been inspired by them or are related to them. The most popular ones besides the trilogy covered here include: Baker's Dozen, Beleaguered Castle, Canfield, Forty Thieves, La Belle Lucie (Lovely Lucy), Scorpion, and Yukon. Each of these games is in turn a representative of its own family of games that provides variations of the same theme. So it's worth trying each of these other titles too, to determine which ones you especially enjoy playing, and then exploring further within each family.
But despite the tremendous diversity, these three reign supreme: Klondike, Spider, and FreeCell. Nearly everyone who has had a Microsoft Windows operating system on their computer at some point in their life will be familiar with one or all of these three solitaire games. This is particularly going to be true of those who were the early adopters of personal computers in homes and offices. Those who found themselves behind an office computer in the 1990s, lived in an era when video games weren't nearly as advanced, impressive, or varied as what they were today. This was a time when social media didn't yet exist, and when the world wide web consisted largely of text based websites that were accessed with slow dial up modems. In this environment, solitaire was the ideal companion for a lonely and boring day behind the computer, and a welcome distraction.
The positive reception of Klondike, Spider, and FreeCell by this audience, has ensured that these three brands of solitaire will continue to have an enduring legacy, far beyond what even Microsoft ever imagined when first making them our friends. Almost 30 years on, these solitaire games have already stood the test of time, and will undoubtedly continue to be enjoyed by future generations.
Where to play them? Head to Solitaired.com and try a game of Klondike, Spider, or FreeCell!
​
https://preview.redd.it/agaaitzfemc51.jpg?width=600&format=pjpg&auto=webp&s=dadb71579e685996511dd1e9bcf6f2cc0e768fcc
Author's note: I first published this article at PlayingCardDecks here.