The Sheer Economic Worth of the Esports Market

The Sheer Economic Worth of the Esports Market

With time, there has been a steady increase in the adoption of gaming as a serious hobby. In the beginning, gaming software was made to help wave off the boredom of programmers who had access to PCs – a costly affair at that time. With the passage of time, electronic devices have become much cheaper, and gaming has attracted a wide cult of players from varying backgrounds – all of whom come together to enjoy their games. Some of these players gradually discovered the economic potential of the games they are playing – turning their hobby into everyday work that makes money. Video games designed to be competitive by nature were hence called “esports” or electronic sports. The esports market is expected to reach 2174.8 million dollars in valuation by 2023 – a big number indeed! The big question still remains – how exactly do players make money by playing video games? Does a Djinn from some hidden land magically hand them the greens as a prize for their perseverance in an online tournament? Well, in 2022, esports isn’t restricted only to the professional players – it is also a market for the watchers as well as content creators.

Professional teams hire players who have proved their worth in a particular competitive game, pitting them against players from other teams in adrenaline-fuelled tournaments where the best team comes out on top. Being good at any video game such as PLAYERUNKNNOWN’S BATTLEGROUNDS, Counter Strike: Global Offensive, DOTA 2, League of Legends, or Valorant means that you might have talent scouts watching out for you. Many DOTA 2 players like Johan “N0tail” Sundstein and Anathan “ana” Pham have made almost 7 million and 6 million dollars respectively playing the game as part of professional teams. Players generally get a section of the prize pool won from tournaments, as well as a monthly salary. If you’re playing as part of some of the more established organizations like Fnatic, Team SoloMid, Team Liquid, or Cloud9, you’re bound to get even more benefits besides a monthly paycheck. It’s no mean feat to be the best in these competitive games, but it certainly pays if you play well.

If you’re part of the audience who like to watch esports and cheer their favorite players on (pretty much like me!) – then there are earning opportunities for you as well. Monetization of free-to-play games has created a market of cosmetic items among the more casual players of the game. One of the easiest ways to earn money definitely is by gambling with the help of these cosmetic items. Gambling websites use these cosmetics instead of money to set the stage for a game of jackpot. Of late, even the casual gaming market has started incorporating elements of gambling to give players a chance to risk it all. Knowing how and where to put your money while gambling is crucial for any casual player who wants to earn some money. You can check out the beginners guide to roulette rules here.

Of course, without the right experience, or without the sweet kiss of Mother Luck, you might end up losing a lot of money – so be sure to keep your gambling addictions in check while engaging in any such game! Another way to make money is probably by betting on professional matches – either cosmetics or with real money. This had become a big industry back when Counter Strike: Global Offensive and DOTA 2 were in their prime – following which Valve had to step in and curb the more unruly players in the market who were misusing the game’s image to make more money. Of course, fantasy esports do exist – allowing casual players to make a team of their favorite players and see them dash it out in virtual tournaments with a lot of prize money at stake (just like the actual esports tournaments). You can check out everything you need to know about online casinos here. With the growth of free-to-play esports games, fantasy esports has also witnessed a lot of growth, making more avenues for players to make some quick bucks.

If you’re more intrigued by making content for video games, you also stand to make a lot of bucks. Starting out, you’ll mostly be looking to livestream your games to a very closely-knit audience who know you very well. Later on, you’ll be moving on to making videos of your game-winning plays with the fanciest video editing techniques in the market. Everything a content creator needs is that one lucky break – that one video that breaks over a million views. Once that’s done – it sets the tone for the production of other content like podcasts, video opinion pieces, gameplay showcases, and so much more! If you can afford to buy a domain and host your own website (which is very cheap and affordable nowadays) – you can also start writing guides and opinion pieces for your favorite games. Once the SEO strikes right and that one lucky piece records a few million views – you’re set for the life of an esports writer. Getting established in content creation is very hard, but it’s very rewarding by nature. Most importantly – it’s actually achievable by people who are willing to stick to it.

The esports market has grown without showing any signs of pause. With many games having new players in their ranks thanks to the COVID-19 pandemic, the gaming industry is nowhere slowing down – it’s on the way up. Today, any player can establish themselves in the industry and earn their big break if they really want to. The dream of earning a living by swiping away at tablets, smartphones, PCs, or consoles is now achievable for a lot of people.

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