How Laurence Escalante went from Broke To $115 Million in the six months

Laurence Escalante is an entrepreneur and the founder of VGW, a company that operates online social gaming platforms. Here is a brief case study of his entrepreneurial journey:

Laurence Escalante started his career as a lawyer in Australia but soon realized that he was more interested in entrepreneurship than law.

Undeterred, Escalante decided to try his hand at online gaming, an industry he had some experience in. In 2012, he founded VGW, a company that develops and operates social gaming platforms. VGW’s flagship product is Chumba Casino, a social casino platform that allows players to play casino games using virtual currency. The platform has been successful, and VGW has since launched other social gaming platforms, including Global Poker and LuckyLand Slots.

VGW’s success can be attributed to its innovative approach to online gaming. The company operates in the social gaming space, which is less regulated than traditional online gambling, and allows players to play for fun without risking real money. VGW uses virtual currency, which can be purchased with real money but cannot be converted back into real money. This approach has allowed the company to operate in markets where online gambling is illegal or heavily regulated, such as the United States.

Today, VGW has over 1 million registered players and employs over 400 people worldwide. Laurence Escalante’s entrepreneurial journey is a testament to the importance of perseverance and innovation in the face of challenges. today laurence total networth is 2.68billion dollar

Laurence Escalante failure story:

While Laurence Escalante has been successful in his entrepreneurial journey with VGW, he has also experienced failure along the way. One notable failure was his first venture, a social media platform for sports fans, which he started in 2010. Despite investing a significant amount of time and money into the platform, it did not gain traction and ultimately failed. Escalante had to shut down the venture, and this was a setback in his entrepreneurial journey.

However, Escalante did not let this failure discourage him. Instead, he learned from his mistakes and went on to start VGW, which has been a successful venture. This failure highlights the importance of resilience and perseverance in entrepreneurship. Even the most successful entrepreneurs have experienced failures along the way, but what sets them apart is their ability to learn from their mistakes and keep moving forward.

How Virtual Gaming Worlds (VGW) Makes Money,

1. trSale of virtual currency – VGW’s social gaming platforms use virtual currency, which can be purchased with real money. Players use this virtual currency to play casino games or participate in poker tournaments. VGW generates revenue from the sale of this virtual currency.
2. In-app purchases – In addition to buying virtual currency, players can also make in-app purchases to enhance their gaming experience. For example, they can buy virtual items such as avatars, game skins, and other virtual goods.
3. Advertising – VGW also generates revenue from advertising on its social gaming platforms. Advertisers pay VGW to display ads to its users.
4. Sponsorship – VGW’s social gaming platforms also offer sponsorship opportunities to brands. For example, a brand can sponsor a poker tournament or a casino game, and VGW will promote the brand on its platform.

Overall, VGW’s revenue model is based on the freemium model, where the basic use of the platform is free, but users can pay for additional features or virtual goods. This revenue model has been successful for VGW and has allowed the company to operate in markets where online gambling is illegal or heavily regulated.

Laurence Escalante advice for young entrepreneurs:

Laurence Escalante has experienced both success and failure in his entrepreneurial journey. Here are some of his advice for young entrepreneurs:

1. Pursue your passion: Escalante believes that pursuing your passion is crucial for success in entrepreneurship. If you’re not passionate about what you’re doing, it’s hard to stay motivated and overcome the challenges you’ll face along the way.
2. Learn from failure: Failure is a part of the entrepreneurial journey, and Escalante believes that it’s essential to learn from your mistakes and use them as an opportunity to grow and improve.
3. Surround yourself with the right people: Escalante emphasizes the importance of building a strong team and surrounding yourself with people who share your vision and can help you achieve your goals.
4. Focus on innovation: Escalante believes that innovation is key to success in entrepreneurship. Instead of following trends or copying what others are doing, he advises young entrepreneurs to focus on creating something unique and innovative.
5. Be patient: Escalante advises young entrepreneurs to be patient and persistent. Success in entrepreneurship takes time and effort, and it’s essential to stay committed to your vision and keep working towards your goals.