Do you love playing online games? What if we tell you that you can earn by playing it? Surprising, right? 

Well! Yes, you can certainly earn money by playing online games. Today, video games have become a big moneymaking industry with an anticipated top valuation of $300 billion by 2025. And, if you are aware of the techniques of earning an appropriate amount of money, you can get that slice of the pie. 

This blog will provide you with is a detailed list of techniques you can use to make money in the gaming industry. So, without further ado, delve deep into it. 

Glimpse Of The Gaming Industry

Before moving straight into the ways, let’s just have a look at the overall gaming industry. 

At an initial stage, the gaming industry generated around $138.7 billion in revenue last year, which is an unbelievable number. In addition, this industry’s growth has been rising steadily for five years. In 2020, some of the analysts even predicted the industry’s growth by about 9 percent that will further reach its revenue by about $152.1 billion.  

The number has made many people opt for gaming as their professional career. While some are in this industry to make money, some are also improving their social skills and exercising their brain through gaming. 

Gaming As A Career

With the popularity of games in today’s world, it is not just the game development companies that are getting all the financial benefits. But, gamers are also playing a bigger role in it. There are even young gamers that make millions of money by playing games online. 

Let’s take the example of a professional Dota 2 athlete, popularly known as KuroKy. He made more than $3 million during the course of his professional gaming career. And, what is most surprising is that he is just 26 years old. 

So, gaming is the best option for you to make money.  

Ways To Make Money In The Gaming Industry

Become A Game Developer

If you feel nervous playing games on social channels, then you can consider becoming a game developer. If you have appropriate knowledge about coding, then no one can stop you from earning money in the gaming industry. Also, the average cost of producing video games differs from $1 to $4 million. 

However, you need to have the right people, like programmers, graphic designers, etc., to create a game. Other than that, you might also require a project manager, who will look and deal will all the administrative tasks such as licensing, marketing, and budgeting.

Furthermore, for developing a game, you can obtain the necessary funds via crowdfunding or pitching to an investor. Also, note that developing a game cannot be completed in a snap. It might take several years or months. But, the profits will be higher than the actual investment. 

Apart from investment and development, you also need to take care of licensing the game. A licensing cost will be the addition of yearly developer fees, some profit cuts, and total expenses, which will not be small. Therefore, ensure to work keeping in mind all these aspects. 

Become A Youtuber

If you are a professional gamer, you can start your Youtube channel to increase your earnings. It is one of the best platforms for gamers to put up their commentary on games. There are a lot of things to do on Youtube. Some of them are live-streaming, reviewing new games, or offering your thoughts on industry gaming. 

For example, PewDiePei, one of the most successful gamer make money from Youtube. With 100 million-plus subscribers on his channel, he earns more than $500,000 per month and more than $12 million in a year. 

Therefore, you just have to create a channel and begin dropping amazing content in it. However, amassing an audience into your channel might take some time and earn money. It is because, for new creators, youtube constitutes some qualifying criteria. 

After your channel begins gaining traction, you can even reach gaming companies and other industry-related partners to sponsor your videos. 

Speed Up With Streaming

You can become a game streamer. However, you have to be an exceptional player. Apart from it, you also had a good skill of entertaining people. Several big streamers earn more money than the actual professional players. As we discussed above, you can stream games on Youtube as well as on Twitch. 

Moreover, you can earn money via paid subscriptions, bits, ads, donations, merchandise, and sponsorships. Paid subscriptions are the best option for partnered streamers as they allow viewers to subscribe to a particular streamer for just $5 to $25. 

Another option is bits that can be used to support a streamer people like watching. Bits are the digital goods on Twitch. One bit is equal to a penny. However, you need to note that a large part of your subscription income will go on Twitch.

Sponsorship is another option to earn money in the gaming industry. In it, a specific brand sponsors your stream. It is considered the most profitable way of making money in the industry. It is because, in this option, we make a deal directly with a company. The only challenge in sponsorship is that you need to be famous to earn it. 

Other options include donations and merchandising. They give a unique way of gaining exposure and generating passive income. 

Publishing Your Game

Some people do not want to develop video games nor did they want to play. They are always involved in publishing games. It is a costly venture as it subsidizes game development and even covers the cost of marketing activities. Additionally, the marketing budget is twice the initial cost of developing a game.

Now, if you are wondering what the game budget actually covers? Then, take into consideration promoting a game using banner ads, discs, manual books, print ad posters, gadgets, TV and radio commercials, in-store promotions, and displays. Moreover, selling a game in a digital format might cover digital distribution fees. 

On top of that, you need to create a distribution network among wholesalers or retail businesses. It consumes a lot of your time, money, and even effort. Therefore, you need to work on establishing a good relationship with them. Although the entire process is very costly, once the game becomes a hit, you will eventually forget about the initial investment.

Compete In Gaming Tournaments

With gaming evolving as a big business, people are organizing various gaming tournaments for popular games like Fortnite and Call of Duty. the tournament happens globally. However, registering for the tournament is not a full-time occupation, and you might not be able to enter every competition.

But, once you get in, you can earn a lot of money effortlessly.

Conclusion

Now, you no longer have to carry the weight of parents’ time-worn admonition of getting a “real job”. The gaming industry has opened a door for quite a few youngsters. In fact, we can even witness the older generation jumping into the industry. 

Therefore, whether you are thinking of becoming a professional gamer or online streamer, know that you can create a future and earn sufficient money in the gaming industry. 

Also Read: How To Become A Pro In Gaming?