The esports industry is valued at over a billion dollars, creating multiple channels of income for pro players. But these income sources are not restricted to pro players only; you can also earn money as an average fan of esports in different ways. These include participating in local tournaments, creating content, working in affiliated esports industries, and coaching.
In recent developments in the esports scene, you now play to earn crypto tokens with some video games. But this practice is yet to have sure footing in the industry. However, in this article, we’ll discuss the better-established ways by which you can earn money on esports.
How Huge Is The Esports Industry?
The esports industry has come a long way from ordinary competitive gaming amongst friends with a few personal items at stake. With the evolution of technology, video games have transformed from a means of fun to a source of income for several gamers. The success of games and tournaments like CS: GO Majors, Dota 2 The International, and several others have shined the spotlight on the gaming industry over the past years.
As of this year, the esports industry is worth over 1.3 billion dollars, raking revenue from sponsorship deals, advertising, merchandise sales, broadcasting rights, and tournament ticket sales. From reports, about 400 million individuals participate in the esports industry directly or indirectly. A substantial fraction of this number is making a good income from this industry, and you can be part of that fraction, too, in the ways highlighted below.
How To Make Money From Esports
Esports has made players and fans quite wealthy, with incomes ranging from thousands to millions of dollars. For example, in the pro gamers scene, Johan “N0tail” Sunstein has earned over $7 million from tournaments, partnerships, and sponsorships. But Johan is not the only high earner in the industry as there are about a hundred more high earners in millions of dollars in the industry. The best part is it’s not only from pro-gaming that you can make these numbers. Some of esports’ money-making avenues are discussed in the following headings.
Train As A Professional Player And Participate In Tournaments
This is the goal for most people in the esport industry, hoping to climb the steep ladder and become a high earner like Johan “N0tail” Sundstein. It’s no easy feat to become a pro gamer in esports, but the results will always compensate heavily for the efforts. However, before you get to the level of earning millions, you can also perfect your skills at games and partake in local tournaments.
You’ll find several online tournaments with prizes of up to $10,000 and more on established games like Dota 2, CS: GO, League of Legends, Valorant, and even mobile games. If you know you’ve perfected your skills at any of these games, you can always enter for these competitions to try your luck. As you win these games and gain popularity in your region, you have a better chance to be picked up by big teams and participate in tournaments on a global scale. However, this will require patience, dedication, and skill mastery.
You’ll find thousands of esports betting sites where you can make predictions and take advantage of lucrative odds to make money. Although this might not be a steady source of income with risks attached, esports bets are one of the easiest and simple ways to earn winnings off your passion for gaming. Even with the risks attached, you can make an informed esports bet with the wealth of data and history of many of these esports teams. Features like history, welcome bonuses, and positive reviews should guide you in picking the best site for esports betting. These have worked for several esports lovers over the years, earning them thousands of dollars in withdrawals from wagers on coming and live tournaments.
Become A Streamer/Content Creator
During the global lockdown, a couple of years back, the esports industry experienced an all-time spike in content creators and streamers. The momentum gained since then has remained strong, with Twitch (a prominent game streaming platform) reporting more than 140 million users monthly in 2022. In addition, you’ll observe similar figures over platforms like DLive, Facebook Gaming, and YouTube, showing that there is no better time to be a streamer or content creator for esports than now.
If you choose to be a streamer, you need to have a skill level in a chosen game that stands out from the crowd. Your streaming channel should have a unique quality to it that makes people want to watch, subscribe, and in turn, earn you money and get sponsorship deals. If you choose to be a content creator, you have a wider spectrum to choose from. You can produce content on gaming clips, esports stars, events, special game items, and so much more.
Asides from the above-listed income opportunities, you can explore several other options attached to the esports field. These jobs can come as monthly-paying jobs or contracts that can earn you thousands of dollars. For instance, you can get a job planning and managing esports events, working as an agent for an esports star or team, journalism, influencing, sales, and so much more. You can even sign up on freelancing websites to coach people on how to play esports games if you have that skill.
These are some of the areas you can explore to make money in the esports scene. Asides from betting, most of the other areas require dedication and consistency till you hit a big break. However, you can have a fulfilled long-term career with esports, and it’s feasible from any of the above-listed means.