Can you make money from online gaming? Absolutely! But it's not as simple as you might first think and, because it's a very competitive market, finding a niche or a different angle is critical to success.
Four popular money-making options
There are a few ways to look at creating an income. The most obvious approach is to think about how to make money from playing video games and there are several options available including:
- Live streaming using community platforms such as Twitch or DLive or hosting a youtube channel. Of course, everyone wants to be the next PewDiePie, earning tens of thousands of dollars a day. However, building a brand takes time; it's almost impossible to become a sensation overnight, so this option is really for those who have patience and are not in a hurry to create an income stream.
- Become a professional gamer by winning tournaments and, of course, securing sponsorships. Again, this is something that won't happen overnight so a long-term view is essential.
- Testing or reviewing games. It's relatively easy to find job opportunities online for research and testing although competition will be tough. A quick search of one job portal in the UK showed over 230 live vacancies for testers. It's also worth noting that games reviewing opportunities may not be paid in cash but in alternatives such as Swagbucks.
- Freelancing: if you have good writing skills then consider writing content for blogs, tutorials or guides. Many of these opportunities are available to freelancers or those looking for a second income.
Gaming or gambling?
Of course, games can also include gambling such as online video poker and that's really down to your appetite for risk and card skills. Although it's still possible to find some of the best online casinos in Canada with no deposit bonuses, you'll still need to stump up some cash to start with. However, because many online casinos offer welcome bonuses and other promotions, there is money to be made from matched betting, which is probably the safest way to earn money if your card skills are not up to scratch.
If you've got entrepreneurial traits then there's another way of earning money from gaming. One of the main outcomes of the massive growth in online and social gaming is the emergence of big data based on user activity. If you've got analytical skills and knowledge of a specialist market or game, then setting up a company to analyse that data or using your writing skills to offer insights could be lucrative. Think about the motivation behind Microsoft's purchase of Minecraft for example; today's data is most definitely tomorrow's gold.
Ultimately, the opportunity to make money from online gaming depends on your skills, attitude to risk and ability to think a little differently from your competitors. It's not enough to set up another youtube channel for example, but consider how you can be really unique and differentiate yourself from other companies or individuals. How could you link it with other social channels, focus on a particular type of audience or deliver it in a different language? Could you start with small steps in matched betting or think really big and dig into data instead?
Can you make money from online gaming?