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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."
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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
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Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
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2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
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