Are you interested in playing video games? Do you want to make money online from playing those games? Yes, it is possible.
I have seen many people during the ’80s and 90’s who believe playing video games is meant for kids only; adults don’t play video games. Today, in 2022, some people still believe in that concept and think it is a waste of time and money. But, I have to tell you, those people were wrong that time, and they are still wrong in 2022! Being a gamer is not a piece of cake!
I can proudly say as a consumer finance attorney and financial expert, I love playing video games! I usually play with my grandkids and learn about games, gaming platforms, and the gaming industry from them. While playing video games, I grew interested in the financial aspect of the gaming industry, and I started doing some research on it. The data I got is outstanding.
The gaming industry generated almost $162.32 billion in 2020. By the end of 2020, the video game market generated a value of $162.32 billion in revenue. In 2021, the video game industry size in the United States surpassed 85.86 billion U.S. dollars, up from the all-time industry high in 2020 with 76.15 billion U.S. dollars. The gaming industry was valued at USD 173.70 billion in 2021, and it will probably reach a value of USD 314.40 billion by 2027, registering a CAGR of 9.64% over 2022-2027.
Now, you might ask – the video game makers are generating such a huge revenue, but what about the people who play the games? They are only spending some serious cash but not making any money out of it.
Practically, making money by playing games has been a realistic cash stream for many in recent years. The video game business has witnessed a significant surge in gamers with so many various platforms to pick from and wonderful titles coming out. Playing video games could be a fun stress reliever and an excellent way to make money online. There are a variety of online games that pay you to play them. Yes, it seems ridiculous and shady, but several excellent sites and apps allow you to earn money online or in other ways by playing games. Participants are compensated in various ways, including PayPal Cash, gift vouchers, local discounts, and points that may be redeemed for a range of items.
Don’t worry if you haven’t played many games before; some experience will undoubtedly help. You also don’t need to buy expensive gaming equipment. These games can be enjoyed on your laptop or PC using an Internet service instead of an Xbox, PlayStation, or another gaming device. If you’re ready to start earning money while having fun, look over the information provided below.
How much money can you make playing video games?
The sum of money you can earn playing video games depends on the games you play, the material you generate, the platforms you are using, and the amount of time you devote.
According to reports, players can earn anywhere from $20 to $200 per hour for playing video games, but there is no way to calculate an average. However, these revenues can be boosted by engaging in events such as game competitions, which typically provide monetary prizes and other incentives. Game tournaments can pay thousands of dollars per tournament.
Although this is a multibillion-dollar sector, income varies by role. For example, a video games journalist might expect to earn between $24 and $60 per hour or more (depending on your experience). As a typical video streamer, you might accumulate over $100 using Twitch streaming services (40+ members), as Twitch takes 50% of your revenue through subscriptions that start at $4.99 per sub.
As a pro gamer, eSports pro Johan “N0tail” Sundstein has amassed a net worth of $6.9 million by competing in and winning Dota 2 gaming events. So you can practically imagine the potential of playing games as a revenue generator. Income from gaming may solve a lot of your financial issues. The money earned from playing games can be useful to manage your financial needs, such as maintaining a household budget, paying off credit cards, opting for payday loan help, creating emergency funds, savings for your retirement, paying insurance premiums, paying for kid’s education, buying or renting a home, and many more.
How to Make Money online playing video games
a. Become a professional gamer
Professional gamers always participate in gaming events that are organized for worldwide gamers, such as MAGFest, Eurogamer Expo, the International Dota 2 championship, E3, IgroMir, Intel Extreme Masters, Tokyo Game Show, Gamescom, etc. and they win millions of dollars.
MLG has developed facilities across the country where live professional gaming competitions can be streamed. It even has online scouts and groups to find the best, undiscovered players.
One of the most excellent money making ideas via online gaming is to pick a game you are already good at and master it. Then, as a skilled gamer and a team player, establish your reputation. After that, take part in eSports games.
b. Get paid to live gameplay stream
Gamers can stream their gameplay in real-time to reach millions of people around the globe. So, as an aspiring gamer, you may target to get a large number of subscribers (earn cash via ads) or a typical individual followers (earn donations and subscriptions). But both of these options are difficult and time-consuming.
Twitch is the most popular streaming platform to earn money online via gaming. But you may also use YouTube as the next alternative.
You might get a very low amount of traffic or viewers for upcoming months, and you might take several years to cross the 1000 subscriber mark. If we check the overall scenario, we will see that a majority of online streamers never make it to that point.
To grab the viewers’ attention, you may need to do something extra that most gamers aren’t doing. You have to build a unique persona with a great sense of humor or personality or play games that others are avoiding or just came in recently.
It is preferable that you must use a good PC, popular games that others are interested in playing or watching gameplays, and good streaming software. Also, your internet speed plays a vital role in handling the stream as well as the game you’re playing.
The following are the three most popular live streaming sources for gamers:
● Twitch – Top Twitch streamers make a lot of money each year – for example, $1.2 million by xQcOW and $500,000 by Pokimane.
● YouTube – Unlike Twitch and Facebook Gaming, making money on YouTube is more difficult. You must first become a YouTube Partner to begin earning. Within 12 months, you should have at least 1,000 subscribers and 4000 hours of watch time on your channel. One of the popular streamers and well-known YouTube gamers is PewDiePie. He presently has over 106 million subscribers and over 4,000 videos on his YouTube channel. His estimated net worth is $15 million.
● Facebook – The income statistics about the top earners are tough to obtain, popular streamer Anthony Helm (Helms World) claims to make a quite fascinating living off Facebook Gaming alone.
c. Participating in big game tournaments
Remember how your mom and dad warned you that video games wouldn’t make you any money?
Well, it seems evident that while it may have been true in their time, there are currently game tournaments with prize pools in the millions of dollars.
For example, Kyle Giersdorf, a 16-year-old from Pennsylvania, was the first 16-year-old to win the first Fortnite World Cup, winning $3 million.
Tournament rewards in games like Call of Duty, League of Legends, Dota 2, Mortal kombat, Streetfighter, and Fortnite give millions of dollars every year. If you are a professional gamer who can play competitively and have the guts to win it, you can earn thousands, if not millions, of dollars. So, if your friends and family tell you that you’re skilled at video games, keep training and maybe participate in a competition in the future!
d. Become a game journalist
Do you aspire to be a writer? If Yes, then it can be helpful as one of the impactful money making ideas that you can use to earn via gaming.
You can join an established news site and start publishing news, reviews, and interviews about a specific game, genre, or industry in addition to playing games. As a freelancer, you can be compensated for each piece.
If you are a player who wants to work as a gaming journalist, it will provide you with an extra push and knowledge. Your enthusiasm will help you gain a deeper grasp of the gaming industry and enable you to work more enthusiastically on it. This may be a very successful career, with an average hourly wage of $24 but as high as $60 on the highest end.
e. Work as a quality assurance tester
In the end, video games are the outcome of computer programming. Developers are working on games to make them more attractive, the way new players want them to, appear suitable, and feel as real as possible. Not only do designers and developers have to know how consumers feel about a new game or enhanced design, but they also need to know how players experience it. They’re seeing how much more enjoyable a new or enhanced game is for gamers, than existing games.
QA testers don’t merely play a game to the maximum level possible. They play new designs, new builds, over and over until they can’t think of anything to report about and notify them that they had a good time.
Consider QA work as being compensated for solving many riddles. Any flaw, error, or other flaws in software must be reproducible so that developers can discover how to fix it.
They usually work on the following projects:
● Explore many designs; avatar builds, stages, and modes.
● Report any glitches, bugs, or mistakes that arise.
● Report how they feel when playing the game
● Actively try to “break” the game to identify where anything might go wrong for a user. Plays a game numerous times until any error is found
Because many QA jobs are based on contracts, don’t expect that you’ll earn a lot of money initially. However, it may give you between $10 and $15 per hour, better than a minimum-wage job.
f. Be a game tester
The most fundamental distinction among both a Quality Assurance tester and a “Game Tester” or “Beta Tester” is that QA works with a product that has already achieved a specific degree of quality as required by the developers.
Being a ‘Tester’ entails attempting to ‘break’ a game, as well as figuring out how to muck it up and analyzing why it might or might not be enjoyable to consumers.
Being a pro game tester necessitates a high level of analytical and detail-oriented thinking. Game creators have great expectations and expect a game tester to report all the glitches, problems, and detail that can irritate new players. They need to present game playing data to developers in a professional way, in addition to the numerous combinations of tests.
g. Create video game guides and tutorials
Many newbies to certain games, particularly multiplayer player-versus-player (PvP), need proper game manuals. So, game testers may also create such manuals and make money online by delivering relevant information to these folks.
You can make game guides in various ways, like developing a website for written manuals, providing YouTube tutorials on how to play video games, or publishing them as ebooks.
The first two are frequently monetized by advertisements and/or donations, while the ebook option is based on sales.
h. Become a video game developer
If you want to work behind the curtains and be a competent player and a game designer, being a video game developer may be the right career for you.
Working with game design businesses to build a new game is a great way to make money while contributing to the video game community. Game developers earn money by working for a video game firm with an average annual income of $60,000-70,000. You can look at job websites to see what qualifications are required for a game designer, as each company will most likely have its own set of prerequisites.
Hopefully, this article helped you find how much your interest in gaming can help you make money online. Whether it’s Youtube or any other platform, a successful gamers profile can not only make you rich but also inspire others to follow their dream and become wealthy.
Lyle Solomon has extensive legal experience as well as in-depth knowledge and experience in consumer finance and writing. He has been a member of the California State Bar since 2003. He graduated from the University of the Pacific's McGeorge School of Law in Sacramento, California, in 1998, and currently works for the Oak View Law Group in California as a Principal Attorney.