How to Make Money Playing Video Games
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Gaming is big business. According to NPD Group, the video game industry pulled in revenues of $56.9 billion in 2020. By comparison, movie receipts totaled $32.2 billion, and the music industry's revenue was $12.2 billion. Video game revenue swelled 27% between 2019 and 2020 as COVID-19 lockdowns were in full effect and people were stuck indoors.
All of us have, at some point, played a game to kill time. But wouldn't it be nice to be able to monetize your gaming sessions? Professional gamers can make money playing video games; that's a well-known fact. But there are so many other ways to make money off video games. You could become a game tester, a video game journalist, start live streaming games, or become a game developer. Of course, all of these jobs come with being able to play games as an added perk.
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How to make money playing video games
Go pro
If you have an undying love for video games, you could consider playing them professionally. According to Comparably, people who make money playing games can earn as much as $187,000 in a year by competing in video game tournaments, although the median salary is about $45,000. Professional esports tournaments that involve games like League of Legends, Fortnite, and Call of Duty are big crowd pullers, and cash prizes often run in the millions of dollars. In addition to tournaments, pro gamers also make money through sponsorships.
On the flip side, professional gamers' career is short-lived, and most fail to remain relevant after throwing in the towel. Most pro players retire in their 20s amid diminished reflexes and agility. And because you're playing games 24/7, you can say goodbye to a social life. Pro games also experience many health issues because they stare at screens while sitting for more than 10 hours each day.
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Start streaming
If the downside of professional gaming has put you off, you could earn money by live video streaming. The recipe is still the same: you're still playing games, just not competing in tournaments as a pro. This allows you to dictate your schedule and be your own boss. Your goal is to build a large and loyal audience. People watching you play games can donate your money, and you can also monetize this large audience to earn ad revenue. Twitch is the biggest live streaming platform for fun, and an intermediate-level Twitch streamer can make between $500 to $1,500 per month, depending on a few factors. A giant Twitch streamer earned $9.6 million in 2021.
Create a YouTube channel
Got hot takes? You could share them on YouTube via a weekly or monthly gaming show. This show could take the form of a discussion, or you could interview various esports stars. A podcast on YouTube can be monetized with ads and sponsorships. However, before you get to that point, you'll have to build a large audience, and until that happens, you cannot expect to make any money.
Another idea for a YouTube channel is to share tips and tricks and tutorials on the games you play regularly. Anyone new to a game loves reading tips on bettering themselves as a gamer, especially those playing multiplayer games. But to be successful, you'll have to offer insight not available elsewhere.
Swedish YouTuber PewDiePie is arguably the platform's biggest gaming-focused star. He started his channel in 2010 and took odd jobs to finance his hobby after his parents declined to bankroll him. His net worth is estimated to be $40 million.
Related: How to Make Money on YouTube
Video game journalism
There are two ways you can go about this: either join an existing website as a freelance journalist covering the game industry or start your own venture where you can earn ad revenue.
If you decide to join any of the existing gaming sites, you'll likely be paid on a per-article basis and your day would revolve around writing spot news stories, taking interviews and providing analysis. You'll also be starting at the bottom of the food chain as you look to build a portfolio of published articles and make a name for yourself.
Regarding creating your own website, it'll likely take years of hard work before you can begin to monetize your traffic. On top of that, journalism can be intensive; you have to meet constant deadlines, and it can be mentally draining at times.
Become a game tester
Before a game is released to the public, it goes through years of development to quash bugs and eliminate any glitches. To ensure everything is working perfectly, game developers rely on game testers, who are tasked with ensuring everything is in working condition and document any bugs they come across.
A large part of a game developer's job is to check everything developers want you to look at. As a result, most of the time, a quality assurance tester is trying to break the game intentionally or visit the same place repeatedly. It soon becomes monotonous, and the pay isn't that great either. In addition, most game testing positions are for mobile games instead of the much sought-after PC or console games.
Become a coach
Just like professional sports have coaches offering tips on being a better player, the gaming world has coaches as well. A coach can command a per-hour rate of as much as $200. Of course, that depends on how good they are at the game and how in-demand their services are. Most of the coaches are retired pro-level gamers who impart knowledge to a new crop of gamers. But before you start a career in video game coaching, you'll need to have experience as a professional gamer.
Develop a game
Game developers can earn an average salary of $84,000 per year, according to Glassdoor. This job requires a very high level of technical knowledge, and you'll be working behind the scenes. But game development is a notoriously stressful job that requires working long hours, on weekends and even on holidays. But many video game companies are now looking to shed this image and have taken actions to de-stress developers.
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For the casual gamer
I get it: not everybody plays games religiously, and for some, the cost of investing in pro-level hardware doesn't make sense. As a result, many casual gamers play mobile games. But there are real money games you can play to earn some extra cash. And while you will be able to make some money through these games, you can't look at them as legit side hustles.
InboxDollars
InboxDollars is better known for paying users to take surveys. But there are other ways to make money through InboxDollars, like watching videos, browsing the web, and playing games. But to get a shot at winning some extra cash, you'll have to pay an entry fee with real money. InboxDollars doesn't just reward you with cash for playing games. Instead, each round you win goes toward your scratch and win progress, letting you scratch virtual lottery tickets for cash rewards.
Swagbucks
Swagbucks is a platform where activities like playing games, completing surveys, shopping, and watching videos earn you SB, an in-app currency. One SB is equal to $0.01, but that depends on how you decide to cash out. Turning to games, you can make money by playing online games, winning random rewards, making purchases within the app, or reaching a certain level in a specific timeframe. Every dollar you spend on in-app purchases lets you earn SBs redeemable for PayPal cash or gift cards.
Mistplay
While other real-money apps let you make money through other means, Mistplay only has games to offer. You can play video games like Candy Crush Saga, Fruit Ninja, and Super Mario Run. You're rewarded with points for your time on the app, which can be redeemed for cash or gift cards. You can also play games on consecutive days to earn bonuses and maximize your earning potential.
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- Over 5 Million Players, 4.5/5 Stars in App Store
- Prizes Include Amazon Gift Cards and Cash Payouts
- Use Code 'JOYWALLET' to Get $5 Bonus Cash On Your First Cash Game
- Deposit/Withdraw with Credit Cards or Your PayPal Account
- Cash tournaments not available in AR, CT, DE, LA, and SD
Pros and cons
Pros
- Potential to earn million of dollars.
- Playing games can be a legit side hustle or a full-time gig.
- Gamers enjoy a jet set lifestyle.
Cons
- Pro gamers develop health issues and as a result, they retire in their mid-20s.
- However you decide to earn through games, it will take a long time to build cred.
- It can be incredibly exhausting, and in some cases monotonous.
FAQs
What do I need to become a pro gamer?
First, you'll have to start early. Many of the pro gamers who compete in tournaments start in their early teens. In addition, you'll have to invest in expensive hardware.
How can I get started in video game journalism?
Look at open positions at gaming-focused news websites and have a writing sample ready. If you don't have one, consider first writing voluntarily to build a portfolio.
What are the pitfalls of pro gaming?
Pro gamers develop various health issues, and drug use is rampant. They practice 10 hours a day and don't really have a social life.
The bottom line
If you love playing games, think twice before considering a career in the industry. Games let us escape reality, but you lose this perk of escapism once you turn gaming into a full-time job. That said, gaming can be a highly lucrative career where you could potentially earn millions of dollars. But before that comes the grind. You can't expect to make a name for yourself in a few months; it takes years. But if you see it through, the juice might be worth the squeeze.
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Writer
Jasir Jawaid is Joy Wallet's Assistant Editor. He has more than 13 years of experience as a journalist covering Wall Street, equities, financial policy and regulation, and cryptocurrency and blockchain.
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