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Today, many gaming enthusiasts are capitalizing on their skills to earn real money. With a good combination of experience and luck, earning money from your gaming skills can be possible.
Many gamers want to turn their passion into something profitable but don’t know where to start. To give you an overview of this endeavor, let’s explore the online gaming landscape, the types of profitable online games you must try, and the virtual economics of online games, among many others.
Ways to Earn Money Through Online Gaming
If you are wondering about the ways how you can earn money through online gaming, we have outlined the possible options for you so you don’t have to.
Online Casino Games
We may have known someone who play live casino online. Well, it’s no surprise because the online gambling industry is one of the most attractive options for many people. From 2021 to 2018, the online casino industry is expected to grow at a rate of 13.70%. Moreover, it is forecasted to reach 144.74 billion in revenue in 2028.
For the most part, online casino games are based on luck. However, there are also specific games that require strategy and experience. Many love playing online casinos because of the convenience it offers. You can just play it from a compatible device as long as you have an internet connection.
In addition, there are many online casinos you can choose from. Each features unique sign-up offers and bonuses, so you can shop for the best by just browsing.
Online casinos are also secure and safe. It operates through advanced technology that protects players’ identities and bank balances. Most importantly, online casinos promise hefty payouts. Unlike brick-and-mortar casinos that need to pay utility bills, rent, and staff service, online casinos don’t have to worry about these overhead costs. Thus, they offer better and bigger prizes for players.
Trading and Selling Virtual Items
This is also called player-to-player trading. Players can trade things like in-game currency, items, services, accounts, and real-world money to their fellow online gamers. Players can sell accessories, equipment, weapon, materials and resources, and cosmetics for in-game items, among many others. But if you want to sell in-demand items, you can try selling or trading the following:
Rare Legendary/Epic Tier Equipment- There are rare and extremely rare armors with superior stats, and acquiring one makes you stand out from the large population of gamers. These armors equipment can be sold at high prices in the marketplace.
Limited Edition Items- Some items can only be acquired for a limited time. Beyond that specific period, gamers can no longer avail of them.
Materials and Resources in Bulk- There are materials and resources that you can acquire through consistent grinding and farming. However, buying it somewhere can be an option for those who don’t want to undergo the process.
Cosmetics- Of course, games with features that allow players to upgrade their character’s look offer cosmetics. If you have specific cosmetics that other players would want to have, consider trading them or selling them for a good price.
Professional Gaming and Esports
Many professional gamers are millionaires. Of course, their potential earning would depend on their skills, type of game, competition, and team size, among other factors to consider. Professional gamers could earn from prize winnings, skin sales, individual brand partnerships, and merchandise sales.
For elite players, professional Esports is a lucrative career to take. However, some professional players are unsigned. Being unsigned means getting fewer benefits from those currently signed to organizations.
Some organizers would pay for the travel expenses of unsigned players to compete, but this isn’t the case for everyone. Many would spend personal money to travel and compete.
Content Creation and Streaming
To interact with their audience, gamers would share their gameplay through streaming. Many online platforms like Twitch and YouTube Gaming are popular among streamers. Donations, sponsorships, and ad revenue are the most common ways to earn from streaming and content creation. When you consistently stream and produce relevant content, you can potentially grow your following and double your income in no time!
Many content creation and streaming tips work for many successful gamers. For instance, you can hype up live events, such as streams of your fellow gamers and other trending competitions and announcements.
You can also collaborate with other content creators so you can explore a new audience and drive them to your own platform. Also, make time to empower your audience to market you on your behalf. You can do shoutouts during the live stream or share their user-generated content.
Lastly, a humorous brand voice is also a rage today. You can post memes to boost post engagement and following.
Game Testing and Bug Reporting
Game development companies work with experienced game testers so they can note errors and bugs and find ways to address them before releasing the game to the public. Once the error is fixed, testers will verify if it’s actually working properly by playing the game.
Many game testers earn a decent amount of money while they work from home. Whether you’re an IT or non-IT gaming enthusiast, this career could be viable.
Exploring the Online Gaming Landscape
There has been an upward trend regarding the growth of the online gaming industry. In fact, in 2020, the online gaming landscape yielded $21.1 billion revenue in the United States. This is a 21.1% growth from the recorded revenue in 2019. The onset of the pandemic prompted this massive development, where many people are stuck in their homes, trying out many things to connect with others and entertain themselves.
As of November 2022, there are approximately a billion online games worldwide. A significant percentage of this statistic comprises online gamers from China, Japan, and South Korea. By 2025, the online gaming population worldwide is expected to reach 1.3 billion.
The gaming industry promises a thriving future. This is why many gamers look at different ways to earn money from this growing industry. With the examples we have included in this guide, we hope you can now start with confidence and motivation. Regardless if you’re a rookie or a pro, there’s something for you to get started with.