eSports has become a popular source of income among gaming enthusiasts, with top players earning in excess of $5 million for playing their favorite games. It also continues to skyrocket in popularity, both as far as participation and viewership are concerned. In 2020, the industry was estimated to be worth approximately $950 million. It has been projected that it will reach a net worth of as much as $1.6 billion by the end of 2023. Although not everyone who partakes in eSports will become a millionaire, there are a number of ways to make money in a thriving gaming market.
Leverage the power of content creation
Live streaming on platforms such as YouTube and Twitch has become extremely popular in recent years, thanks to celebrity streamers such as Ninja and Shroud. International eSport entity Faze started out as a YouTube channel, showcasing the Call of Duty skills of the original founders. Today it is worth millions of dollars, and is considered to be one of the biggest eSport groups in the world. While they do get paid a portion of the winnings of team members, they continue to use YouTube and other social media platforms as an income source. In order to make money on Twitch, you need to become a Twitch Affiliate. Although there are certain requirements that need to be met, it is well worth the effort, as it provides an avid gamer with a steady income source.
Enter lucrative competitions
If you consider yourself to be a top gamer, you could earn a substantial amount of money playing in various tournaments. Some of the biggest eSport tournaments in the world, such as The International, have been known to boast a prize pool of as much as $20 million. While professional gamers often compete in 30 live events every year, a rookie can get their foot in the door by searching for local and online events. Although these smaller contests do carry a smaller prize pool, they still provide an eSport enthusiast with the opportunity to earn money from their passion.
Consider becoming an investor
If you don’t think you possess the gaming talent to win money in tournaments, you can always consider hosting eSport games. Who knows, you might become the Conan O’Brien of eSports. Alternatively, if you have some money you would like to invest, consider becoming an eSport investor. Even if you do not have a huge amount of money, you can always start small and gradually invest more. There are a number of public stock options worth considering. These include Take-Two Interactive Software, NVIDIA, Electronic Arts, and Tencent Holdings.
While eSport can be a very enjoyable pastime, it can also turn out to be a very lucrative career or ‘side-hustle’. Explore all the avenues available to you, and decide on a possible income stream that will suit your needs and lifestyle the best.
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