Making the Most of Your Online Gaming

It is one thing to push forward and casually gamble online in the hopes of eventually winning big in a sea of losses - it is another story entirely to commit to winning while lowering overall risk. A lot of people think that gambling games mostly rely on luck to win, but most games have much more depth than it seems.

That said, it can be a little confusing to figure out how to lower the risk when it comes to gambling online. While there are plenty of ways to increase skill levels when it comes to sports, how do you ensure that you keep risks low when dealing with high-stakes gambling? Here are just a few ways you can make the most out of your online gambling platform.

How to bet effectively

Betting effectively is all about reading the room; or in the case of online gambling, making decisions based on the bets of your opponents. A good example would be poker, which is one of the staples when it comes to gambling in general.

Reading the bluff

In poker, a player will attempt to confuse you through their actions during the betting phase. If they have a good hand, they might proceed to place higher bets, forcing you to either match the bet or fold your cards. That said, they might attempt the move even with a bad hand. If they are slowly but surely raising the stakes, it would be a good idea to fold if you have a bad hand, as they are likely to have good cards. On the other hand, if they bet too high too quickly, it is typically a sign that they are bluffing. A good hand in such a situation would work in your favour if you match the bet.

Keep an eye on the actions of everyone you are competing with, and imitate the actions of those who look to be winning more often than not.

Going for the best online platforms

The best online casino will not necessarily have unique features but will have polished and reliable features. Having multiple payment methods is often a sign of quality, though it would be a good idea to read up on user reviews first. There are also special games such as Slingo Bingo that are always worth a look.

On the topic of cutting your losses

No matter how skilled you might be, understanding when to cut your losses and fold is one of the most essential traits to have in an online gambler. Even if there is a small chance that your decision to fold is something to regret, it saves you from losing a significant amount of money in short bursts.

By reading the room, understanding how players bluff, and learning how to cut your losses, it will be much easier to find success no matter which game you choose. Online gambling might look like a daunting task, but all it takes is a bit of determination!
3 Min Read

Five Essential Lessons to Keep in Mind When You're Starting Your Own Business

"How did you ever get into a business like that?" people ask me. They're confounded to hear that my product is industrial baler wire—a very unfeminine pursuit, especially in 1975 when I founded my company in the midst of a machismo man's world. It's a long story, but I'll try to shorten it.

I'd never been interested to enter the "man's" world of business, but when I discovered a lucrative opportunity to become my own boss, I couldn't pass it up—even if it involved a non-glamorous product. I'd been fired from my previous job working to become a ladies' clothing buyer and was told at my dismissal, "You just aren't management or corporate material." My primary goal then was to find a career in which nobody had the power to fire me and that provided a comfortable living for my two little girls and myself.

Over the years, I've learned quite a few tough lessons about how to successfully run a business. Below are five essential elements to keep in mind, as well as my story on how I learned them.

Find A Need And Fill It

I gradually became successful at selling various products, which unfortunately weren't profitable enough to get me off the ground, so I asked people what they needed that they couldn't seem to get. One man said, "Honey, I need baler wire. Even the farmers can't get it." I saw happy dollar signs as he talked on and dedicated myself to figuring out the baler wire industry.

I'd never been interested to enter the "man's" world of business, but when I discovered a lucrative opportunity to become my own boss, I couldn't pass it up.

Now forty-five years later, I'm proud to be the founder of Vulcan Wire, Inc., an industrial baler wire company with $10 million of annual sales.

Have Working Capital And Credit

There were many pitfalls along the way to my eventual success. My daughters and I were subsisting from my unemployment checks, erratic alimony and child-support payments, and food stamps. I had no money stashed up to start up a business.

I paid for the first wire with a check for which I had no funds, an illegal act, but I thought it wouldn't matter as long as I made a deposit to cover the deficit before the bank received the check. My expectation was that I'd receive payment immediately upon delivery, for which I used a rented truck.

Little did I know that this Fortune 500 company's modus operandi was to pay all bills thirty or more days after receipts. My customer initially refused to pay on the spot. I told him I would consequently have to return the wire, so he reluctantly decided to call corporate headquarters for this unusual request.

My stomach was in knots the whole time he was gone, because he said it was iffy that corporate would come through. Fifty minutes later, however, he emerged with a check in hand, resentful of the time away from his busy schedule. Stressed, he told me to never again expect another C.O.D. and that any future sale must be on credit. Luckily, I made it to the bank with a few minutes to spare.

Know Your Product Thoroughly

I received a disheartening phone call shortly thereafter: my wire was breaking. This horrible news fueled the fire of my fears. Would I have to reimburse my customer? Would my vendor refuse to reimburse me?

My customer told me to come over and take samples of his good wire to see if I might duplicate it. I did that and educated myself on the necessary qualities.

My primary goal then was to find a career in which nobody had the power to fire me and that provided a comfortable living for my two little girls and myself.

Voila! I found another wire supplier that had the right specifications. By then, I was savvy enough to act as though they would naturally give me thirty-day terms. They did!

More good news: My customer merely threw away all the bad wire I'd sold him, and the new wire worked perfectly; he then gave me leads and a good endorsement. I rapidly gained more wire customers.

Anticipate The Dangers Of Exponential Growth

I had made a depressing discovery. My working capital was inadequate. After I purchased the wire, I had to wait ten to thirty days for a fabricator to get it reconfigured, which became a looming problem. It meant that to maintain a good credit standing, I had to pay for the wire ten to thirty days before my customers paid me.

I was successful on paper but was incredibly cash deprived. In other words, my exponentially growing business was about to implode due to too many sales. Eventually, my increasing sales grew at a slower rate, solving my cash flow problem.

Delegate From The Bottom Up

I learned how to delegate and eventually delegated myself out of the top jobs of CEO, President, CFO, and Vice President of Finance. Now, at seventy-eight years old, I've sold all but a third of Vulcan's stock and am semi-retired with my only job currently serving as Vice President of Stock and Consultant.

In the interim, I survived many obstacles and learned many other lessons, but hopefully these five will get you started and help prevent some of you from having the same struggles that I did. And in the end, I figured it all out, just like you will.