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Online gambling giant Betfair's co-founder Ed Wray had encouraging words for delegates to the Entrepreneurs Summit this week, telling them that although he had yet to see evidence of the business 'green shoots' heralding the beginning of the end of the world recession, he remained confident, and it was still a great time to do business.
"Some businesses in this room will fail", said Wray, but he opined that it was a useful reality check.
"Don't read or believe that we are out of this recession," he said. "I won't believe in green shoots until I see the whole plant."
Wray said that this was his first recession, adding that although the times were tough when he started Betfair in 1999, it was a "walk in the park" compared to the current situation.
Commenting that raising finance to found the Betfair concept back then had been difficult despite the dotcom boom, he said that trying to obtaining financing today was nigh impossible.
Ending on a positive note, Wray said he was nevertheless confident for the future. "If you build your business to survive these times, once the economy turns you will fly," he concluded.
"Some of the businesses in this room are the household names of tomorrow."
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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