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How to Make Money from eSports

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Electronic sports, meaning digital games, are fun to play and have also become suddenly mainstream. It’s not just the nerds in their moms’ basements who play video games anymore. The popularity of multiplayer video games, such as Halo and Overwatch, have given rise to an eSports sector that is akin to major league sports in its profitability. The sector is predicted to surpass the billion-dollar mark in 2018. By 2020, eSports would have revenue similar to European Ligue 1 football. While the sector currently lags behind NFL or MLB in terms of revenue, it’s catching up fast.

This is a trend that even entrepreneurs and traditional investors, like Jason Sugarman, have been closely observing. Mr. Sugarman, a private equity investor with decades of experience, has made investments in the major eSports league Team Liquid. It paid off when Team Liquid recently won the annual Dota 2 championship and took home a winning prize of more than $10 million. The sector is definitely showing amazing opportunities for both sports and tech investors. If you are interested in making money through eSports, here are several tips for doing so:

Invest in a Well-Regarded Team

Investing in eSports can be similar to investing in regular sports, in that people can place money on teams, explains Jason Sugarman. As he did with Team Liquid, small-time investors can find a great team to invest in. A good eSports team would have a great dynamic between players and a history of winning. Observe the team for talent and see what type of talent the team displays toward the game. Finding teams specializing in a game or two would be better than teams that play in everything.

Consider Star Players

Unlike traditional sports teams, eSports teams are not contract-bound as of yet. Therefore, some teams may see players come and go frequently. If this puts you off investing in a team, then consider investing in star players. There are definitely star players in the sector who perform incredibly on many teams. Investors can back these players and win as they do. It’s not so different from investing in a star player like Ronaldo.

Don’t Forget the Merchandise

Merchandising is extremely strong in eSports, perhaps even more so than in traditional sports. Investing in merch is definitely a great way to earn excellent returns in the sector. But don’t bet on traditional merch like T-shirts and caps, though they matter as well. Digital sports fans are more likely to purchase tech-oriented merch, like supporting apps or gear. Investors can definitely earn a killing with tech gear in the eSports sector. Keep in mind that the console market is growing, which indicates a significant uptick in the type of merch eSports fans prefer.

There are also eSports stocks to consider. E-sports stocks are a great way to invest traditionally in a non-traditional sector. The stocks belong to companies that develop games like Activision or Blizzard. If a game does well, the company stocks go up. In general, invest in the stocks of companies with legacy titles that have remained popular for years. For example, Microsoft’s Halo is a lucrative legacy title. Blizzard has a number of titles, including Overwatch, Hearthstone, and Starcraft, which have remained popular for decades. If the informed predictors are right, then stocks of these companies will dramatically rise in the coming years.

What Is a Trust Entity Type?

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A trust entity is a structure that a trustee can use to carry out business on behalf of an individual to administer, manage, and transfer assets to beneficiaries. The trustee can be a person or a business. Many people create trusts so that they can transfer property or money to beneficiaries without probate. Trusts are also a great way to increase privacy, avoid estate taxes, and protect property from creditors. If you have more questions about how trusts work or how to handle taxes for a trust, keep reading.

Two Types of Trusts

 

There are two different types of trusts:

  • Revocable trust: This trust includes provisions that may be changed or terminated by the grantor (the person who creates the trust).
  • Irrevocable trust: A trust that can’t be terminated or modified unless there is permission given by the beneficiaries. When a grantor creates this type of trust, he or she gives up ownership rights to the assets inside of it.

No matter which type of trust is established, there are advantages for liability, assets, and income distribution.

Paying Taxes for a Trust

 

If you’re a trustee, you have a lot of responsibilities. You must pay the expenses incurred while administering the trust. These costs may include trustees’ fees, accounting fees, and taxes. If you are administering a revocable trust, you will use the grantor’s Social Security number for tax identification purposes. However, a separate tax identification number such as an EIN is required for irrevocable trusts.

Administering a trust and obtaining a tax ID number for it can be confusing. But with IRS-EIN-Tax-ID Filing Service, you can easily apply for a trust tax ID number online. If you need to find the existing number, you can conduct a tax ID number lookup. If you have more questions about trusts and taxes, contact the team at IRS-EIN-Tax-ID Filing Service for answers.

 

Trading With Ameritrade and Thinkorswim

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Day trading is a fantastic method for increasing your bank account without competing for boring corporate jobs that you don’t even want. Do you want to be financially independent? Do you want a career without a boss and without annoying co-workers? Then you need to try day trading. And for that you are going to need an interactive broker like Ameritrade.

Ameritrade is an online broker that allows traders to put money into a brokerage account and to trade securities on the market. The Thinkorswim platform allows for traders to use state of the art research tools and risk analysis tools to find stocks on the market and trade them for profits. The Thinkorswim platform also offers livestreaming investment news and third-party research that can really make the difference with winning trades.

Before you start trading with Ameritrade though, you want to make sure that you are as prepared as possible to be a day trader. You need to take online day trading classes. The classes, along with time spent in day trading chat rooms will give you the foundation that you need to make money as a day trader. The strategies and techniques are there for you to learn and absorb, so that you can go out there and make profits. They have been hammered out over the years of trial and error by veteran day traders who have lost chunks of money and made the mistakes so you don’t have to.

Veteran day traders that have been through the ringer are really the best kind of instructors. Those are the ones that have logged enough screen time to be able to tell you exactly how to avoid the risky trades that will kill your monthly profits. Keeping a profit:loss ratio of 2:1 is key to being a successful day trader. You need to be able to search for home run trades that will double your money, while keeping your losing trades to as low a level as possible. The risk management of losing trades is very important.

No matter what broker you start with as a day trader, whether it is Ameritrade or some other one, you want to make sure that you have logged enough time as a paper trader. Paper trading is trading virtual currency in a simulated environment. The benefits are myriad. You want to be able to practice all aspects of being a day trader without losing any real money. And simulated trading environments will allow you to get used to the stock market and the speed of trading with little risk. It is a win-win.

When you finally open your Ameritrade account, you need to keep in mind one thing. The amount of commissions that Ameritrade charges might put a real dent in your actual profits. When Ameritrade racks up the commissions, that means that making lots and lots of trades on a daily basis can be bad for your bottom line. While the research and tools might be top notch for new day traders, the commission’s might not make the best business decision.

Why it Really Pays to Consolidate Your Debts

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Bloomberg reported that credit card debt levels in the US recently exceeded the levels at the peak of the Global Financial Crisis. Consider that US consumer credit card debt hit an all-time high in June 2017 when it topped out at $1.02 trillion according to the Federal Reserve Bank. Major US banks and lenders in the form of JPMorgan Chase & Company, as well as Citigroup Inc. are vying for their slice of credit card customers with existing balances. In an era of extraordinarily low interest rates, customers are being enticed with credit card offers to try and get them to sign up with big banks and credit card companies. Fortunately, the status quo is far more favourable to US households in 2017 than it was in 2008/2009 when interest rates were significantly higher.

Additionally, the unemployment rate is at multi-decade lows, coupled with low inflation and an otherwise ‘booming’ economy. Back in 2008, the housing bubble burst and trillions of dollars were wiped off global bourses. The financial meltdown that ensued threatened to upend economic stability around the world. Were it not for bold initiatives by the Federal Reserve Bank, the Bank of England, the Bank of Japan, and the European Central Bank, a meltdown most certainly would have occurred. In the US, the crisis resulted in banks eliminating some $100 billion+ in credit card-related loans from their books. This all took place within a 2-year period. In February 2017, the total outstanding debt on credit cards in the US breached the $1 trillion level.

Credit Card Companies Happy to Lend Money Out

Concerns mounted as major credit card companies such as Synchrony Financial, Capital One Corporation, and Discover Financial Services posted results of write-offs (credit card debt that would not be recovered): unrecoverable bad debts in Q2 2017 increased sharply. Equally concerning is the fact that US household credit card debt is now at its highest level in history. Outstanding revolving credit card debt now exceeds the worst levels seen since April 2008 when it was also at $1.021 trillion. For those wondering why credit card debt levels are growing so rapidly, there are several factors to bear in mind:

  • Interest rates are at historic lows, despite the Fed’s push to raise the federal funds rate as inflation begins to rise
  • The US economy has turned the corner since the financial crisis and things are markedly better, although there is room for improvement
  • Lenders are eager to snap up as many borrowers as possible with low interest rate credit card offers

Lower Spending Limits on Credit Cards

However, it should be borne in mind lenders have put limitations on credit card balances. Nonetheless, it’s important to pay close attention to outstanding balances, and the interest-related payments that must be made. While interest rates are currently low, the APR (annual percentage rate) of credit cards ranges from 15% through 28% and this means that customers are paying interest on their interest. At such high rates, it’s important to manage credit card debt before it overwhelms your household budget.

 

One way to do this is debt consolidation – the process of grouping together similar debt like credit card debt and paying it off with a loan through another lender at a lower interest rate than the credit card debt. The benefit of debt consolidation is that you can immediately pay off high-interest debt with a low interest loan and use the money saved to pay down other debt or use as savings.

 

According to the New York Federal Reserve Bank, US household debt spiked over $1trillion in March 2017, a worrying trend. The bulk of US household debt remains locked in the following areas: mortgage debt, student loans, automobile loans, credit card debt, and medical debt. The rise in student loans and automobile loans is disturbing. Household income is not growing as quickly as the rising costs of medical coverage, and other expenses. At two thirds of overall household debt, mortgage debt is the most pressing concern. However, it is regarded as good debt since the real estate is an asset with a value proposition.

Debt Relief 101: What Is It and How Can You Achieve It On Your Budget

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Debt is an extremely normal part of anyone’s financial life. However, we can’t deny that having debt feels like a nerve-wracking experience as well. It’s frustrating to know that we have dues that can impede our savings. However, knowing that debt is a regular occurrence in our lives means we can experience debt relief as well. Here are some necessary things you need to know about debt relief and some easy ways to start achieving it.

Study, Assess Your Debt

Sometimes, it’s all about a matter of looking at your debt and planning accordingly. You can’t correctly understand just how much debt you have and how you can pay it without looking at everything properly.

  • Try to collect all your account statements within a specified period of time. Search online or call creditors to inquire just how much you owe them and if there are interest rates. Also, ask how much is the minimum pay requirements for each kind of debt you owe. Place everything on a spreadsheet to view accounts at once.
  • If there are questions about your debt that you need to be clarified, always feel free to ask your creditors. The more you know about your debt, the easier it will be for you to formulate the right strategy.

Remember, the first stage in having debt relief is to know your situation first. This means assessing all your debt properly.

Pay Above, Beyond the Minimum

It’s important to understand that creditors will try to make more money off you if you only plan to pay the minimum each month. This is because interest stays the same, and this is where the difference is. If you pay more than the minimum, not only will the total debt decrease, but the interest will be lowered as well.

  • Try your best to pay above the minimum to decrease the time you need to pay for your payments. The less time you have, the less you will have to pay in the long run.
  • Have a plan to get extra money for debt payment, gain access to those funds and make additional payments. The more you pay, the lesser debt youwill have in the long run. 

Try to Focus on the Lowest or Highest Debt

When you have a list of unsettled dues, things can sometimes get a bit overwhelming. To keep things in order, try to establish a debt priority. You can choose to focus on the lowest debt then followed by the highest one, or vice versa.  Both methods can work depending on your financial situation. Take a look at these two scenarios:

 

  • The debt snowball starts by identifying which of your debt has the lowest balance and focusing on this. The goal here is to remove this debt as quickly as possible. The quicker you do this, the more extra money you will have to focus on other debt. The trick is to realize that the “small” money you’re going to pay for the lowest debt will be used on other debt, given the lowest debt has been paid. This tactic “snowballs” until you get a lot of “extra” money to pay off the larger

 

  • The debt avalanche method is the opposite, where you choose to work with the highest interest rate instead. This will, of course, take a bit of time, but it will eventually decrease the total payment you have to pay each month.

Some people rely on the debt snowball because it’s a faster strategy to get extra money for their other debt plans. However, the avalanche system will probably help you save more money in the future – of course, provided you are willing to take your time.

Extra Income, Extra Budgeting

Sometimes, the best way to make more money for your debt is also to gain extra sources of income. Here are some methods to do these:

  • Try to ask for a raise from your boss. Some people are afraid to leverage on their abilities as an employee, and forget that they can actually try asking for an increase. If you explain your situation carefully, your boss may give you a raise – or give you tasks that can qualify as a raise.
  • You can also try selling older stuff that you’re not using. This will help you understand the inherent value of objects around you as well, helping you budget more efficiently when buying new things.
  • You can also try to get a part-time job to obtain extra income.

At the same time, you should also try to budget more and spend less. You should start becoming smarter as to how you balance your monthly expenses and things you do for leisure. There are ways for you to pay less by buying alternatives, opt for those options.

Conclusion

If the above items are any indication, then debt relief is, in fact,a possible thing. It just takes a lot of time and effort on our end. It may feel as if we’re not making any progress in the beginning, but if these tactics are paired with a good financial strategy, then you’re on your way to a brighter financial future.