The Money Business Behind The Gaming Industry

The gaming industry is constantly growing. In 2019, the global video gaming revenue was estimated to be $140 billion. Needless to say, once the pandemic came in to disrupt our plans for 2020, you can be sure that a lot of households have swapped vacations and trips for video games. Indeed, games such as League of Legends, a multiplayer online battle arena, gain new players every year. League of Legends alone pulls about $1.6 billion per year. On the mobile platform, Candy Crush makes almost a billion a year with in-app purchases.

The bottom line: It pays off to develop a game. But what if you are not a game developer? Well, there are other ways to make money in the gaming industry.

Unsplash - CC0 License

Yes, you could play for money

Have you considered playing online games for cash prizes? While it’s not a strategy that works for everyone, some players can create a reliable source of secondary income. The secret is to know when to stop. Indeed, in the long term, little gains are more effective and sustainable than seeking one big win. Why so? Because you’re more likely to make a lot of little gains than you are to win a big sum at once. The pursuit of the impossible big gain could drive your capital dry!

Or you could study games to learn the tricks

Money games need to convey a clear message in a short time. They need to make a good first impression so people are more likely to play. A game such as Domino99 has managed to turn the simple and somewhat childish design to its advantage, by building a platform that uses colors, shapes, and font to establish trust. These design tips may appear simplistic, but they are more likely to keep players engaged and confident. You could act as a game tester, helping teams develop the right platform for the right audience. This allows you to put your understanding of design best practices into perspective.

Creating upgrades for games

You don’t need to be a developer to understand how to turn an active community into a money-making venture. A game such as Skyrim, for instance, has plenty of downloadable mods that make it more accessible. While mods tend to be free or low-cost, you can create a membership-based community platform to keep players in the loop. The community can share spoilers about future games, tips to beat challenging bosses, and some of the best mods available. If you make everything free in the community, you can use a package membership to monetize your contribution.

Becoming professional

Professional gamers earn $1,000 to $5,000 per month on average. Some even receive a regular salary for their games. When you include sponsoring, prize money, bonuses, and streamlining earning, some gamers can replace their full-time jobs. Even if you need to maintain your professional career along, you could still make a lot of money by joining local gaming competitions.

The gaming sector is full of opportunities for entrepreneurs and skilled players. Whether you want to support other players or to play for money, there’s more than one way of monetizing games. More importantly, you can use your skills to earn money, even if you’re not a developer or a player!