First rule of thumb is to register your players for some kind of tournament every week.
Juniors should play junior tournaments unless/until they're so good that they breeze through them without picking up enough fatigue/experience to make it worthwhile. But even then, it's fun winning titles.
As for game speed, the rate is what you explain. More practically, to micromanage effectively, you want to be able to check in on your players weekly (in game speed) to ensure they're getting enough play in. Normal worlds progress at the rate of 1 game week/real day; Fast worlds at the rate of 1 game week/6 hours (Saturdays/Sundays are half speed).
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