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Get a Heads up of Probable Issues Before Becoming an Entrepreneur

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Starting your own work is lucrative. Everyone who has worked in a job knows the woes of it. There is a hierarchy and so is an unsaid slavery towards the company. But with every action comes a consequence. So, is the case with entrepreneurship. It too, has its own risks and needs a greater focus, hard work and longer working hours (approx. 12 hours daily).

This journey of becoming a successful entrepreneur has many obstacles. One such obstacle is the necessity of a fat wallet. For the initial six months of business one has to have complete working capital saved. If your costs exceed your revenue it can be stressful. Some entrepreneurs have a comforting backup plan. While, for others having a regular cash flow gets tough.

To run a business one must know how to multitask. You have to master HR, Marketing and sales, R and D, or financial management. And some tasks need to be outsourced, like going for a virtual receptionist service. Since, your working hours are uncertain a lifestyle change is also needed. One of the safer ways to get into entrepreneurship is to start with a franchise model of a successful business. Franchise model comes equipped with training for staff, product launch material, advertising material, benefit of trademarks and business guidance from a founder who is already successful in a business.

Having said that, franchising isn’t such a hunky dory affair. Much like any other business it also needs hard work, responsibility and long working schedules. One cannot improvise on the business at will as there are strict guidelines from the parent company. To deal with all these things one needs a lot of maturity. As we said before, with every action come consequences.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

The Digital Gambling in China and Asia is Booming Rapidly

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The Guangdong Club at Costa Rica in China is a famous online gambling platform. Hundreds of sessions for popular games as baccarat and blackjack, lotteries, and sports betting are offered here. A game of barely 30 seconds easily ropes in betting volumes around 75,000 yuan ($10,500) at any single baccarat table. The gambling out here has a digital twist in it as it allows the Chinese to bet without traveling to Macau or Las Vegas.

Gambling is an on growing trend in China. It seems the transactions are draining hundreds of millions of yuan from the country. Moreover betting is also considered as a tool that pumps in social unrest. However, Chinese law is against gambling and prohibits it on the mainland. Even online gambling has a strict no from the law. The Chinese government has issued many regulations for online gambling like telecommunication fraud and citizens being lured to work illegally in the Philippines.

But still the Chinese bettors somehow do manage to flock in to the digital gaming halls thereby fueling growth in Asia’s online gambling sector. According to market researcher Technavio, this year the sale is expected to reach $24 billion. The Chinese government is finding it hard to stop websites registered and operated abroad.

Several virtual casinos are operated out of Cambodia as well as other places licensed in the Philippines by the Guangdong Club. They host especially in countries where gambling sites like decasinos.de catering to international players are permitted. Costa Rica which seems to be the head office of the club however does not have an industry regulator or laws banning online casinos that provide gambling services overseas.

According to the club’s website, the gamblers can deposit money and receive their winnings via accounts at several Chinese banks such as Bank of China Ltd and Industrial & Commercial Bank of China Ltd as well as a few others. Some platforms do allow the gamblers to use popular online payment systems from Tencent Holdings Ltd and Ant Financial Services Group.

In this tough fight to restrict gambling portals from overseas China has managed to gain support from its neighbors. Cambodia has assured of not issuing any new online gambling licenses and also promises that they won’t renew existing ones when they expire. Philippines will also stop accepting applications for new licenses for some time.

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