How To Make Money in Esports
If you’re looking to get involved in the world of competitive gaming, you’re going to need to know how to make money in esports. Here are a few tips to get you started.
Introduction
The esports industry is booming, and there are plenty of opportunities for those looking to cash in. Whether you’re a pro player, streamer, or involved in the business side of things, there are ways to make money in esports.
Here are some of the most common ways to make money in esports:
-Winning tournaments and competitions
– streamed games on Twitch or other platforms
-Working as a coach or analyst
-Shoutcasting or commentating on games
-Working in the business side of esports (sales, marketing, management)
-Creating and selling esports content (tutorials, guides)
-Selling esports merchandise
The global Esports market
Esports is a rapidly growing industry with immense potential. And while there are many ways to make money in Esports, it can be tough to know where to start. In this article, we’ll explore some of the best ways to make money in Esports.
The global Esports audience
Esports is big business. In 2019, the global esports audience reached 454 million people, up from just under 300 million in 2012. This rapid growth is set to continue, with a predicted 646 million people tuning in to watch esports by 2023.
With so many people watching, it’s no surprise that brands are eager to get involved. According to one estimate, global spending on esports sponsorships will reach $865 million in 2020, up from $696 million in 2019.
One way brands can get involved in esports is by sponsoring professional gamers and teams. This can be a great way to reach a young, tech-savvy audience that is difficult to reach through traditional channels.
However, sponsoring an esports team or player is not cheap. The most successful teams can command sponsorship deals worth millions of dollars per year. For example, Cloud9’s Counter-Strike: Global Offensive team reportedly earns $1 million per year from sponsorships.
Another way for brands to get involved in esports is through advertising during live broadcasts of tournaments. This can be an effective way to reach an engaged audience that is already interested in gaming and technology.
Finally, brands can also sponsor specific esports tournaments or leagues. This provides a great way to generate positive associations with esportsyoung audiences around the world.
The global Esports economy
Esports is a form of competitive sport using video games, typically played between professional gamers. Esports tournaments are commonly organized by gaming publishers or communities, and Events are frequently sponsored by technology companies.
The global esports economy was valued at $696 million in 2017, a 41.3% year-on-year increase from 2016. This is expected to rise to $1.5 billion by 2020, according to Newzoo’s 2018 Global Esports Market Report.
There are a number of different ways to make money in esports. The most common include:
Sponsorship: Brands can sponsor teams or tournaments, with the placement of their logo on team jerseys or advertising during live broadcasts.
Prize money: Players can earn income from competing in tournaments and winning prize pools. The largest prize pool in esports history was $34 million for the 2017 Dota 2 International tournament.
Media rights: Live streaming platforms such as Twitch and YouTube Gaming generate revenue from advertising and subscriptions, which is shared with content creators like esports teams and players. Traditional broadcasters such as ESPN and Sky Sports are also investing in esports content.
Merchandise and ticket sales: Fans can purchase merchandise from their favourite teams or attend live events to support their players in person.
How to make money in Esports
The global esports economy will grow to $696 million in 2017, up 38 percent from last year, according to new research by Newzoo, an esports analytics and market research firm.
Sponsorships
Like any other sport, making money in esports comes down to a combination of prize money, salaries, and sponsorships. Players in esports earn money from tournaments, appearances, and team salaries much like traditional athletes. In addition, players can also earn revenue through content creation and sponsorships.
Tournaments
As with any sport, the majority of revenue for professional gamers comes from prize money earned in competitions. The largest esports prize pools rival those of traditional sporting events; The International, an annual Dota 2 tournament hosted by developer Valve, awarded over $34 million to its participants in 2019. For perspective, that’s nearly double the prize money awarded at the Masters Golf Tournament that same year. Players typically earn a majority of their revenue from tournament winnings.
Team Salaries
Beyond prize money, pro gamers also earn salaries from the teams they play for. These salaries are on par with those of traditional athletes; the average salary for an Overwatch League player is $50k per year while the average salary for an NBA player is $7.4 million per year. Of course, there is a wide range of salaries within each sport; some NBA players make as little as $525k per year while others make over $30 million per year. The best esports players can expect to earn salaries at the top end of this spectrum.
Content Creation
In addition to tournament winnings and team salaries, many gamers also generate revenue through content creation. Platforms like YouTube and Twitch allow gamers to livestream their gameplay to a global audience while also earning money from advertising revenue or subscriptions. Gamers can also generate revenue through sponsorships or partnerships with brands looking to reach a gaming audience. The most successful content creators can earn millions of dollars per year
Advertising
Advertising is a form of marketing that involves the promotion of a product, service, or brand.Companies in the gaming and esports industries use advertising to reach out to potential customers and promote their products or services.
There are a variety of ways that companies can advertise in esports, including through sponsorship, event sponsorship, digital advertising, traditional advertising, and product placement.
Digital advertising is one of the most popular forms of advertising in esports, as it allows companies to target a specific audience with precision. Traditional forms of advertising, such as television commercials and print ads, can also be effective in reaching out to potential customers who may not be familiar with esports.
Product placement is another form of advertising that can be used in esports. This involves placing a company’s products or services within an esports event or broadcast in order to reach out to the audience watching.
Companies can also sponsor teams and players as a way to advertise their products or services to the esports audience. This can be done through direct sponsorship, where a company pays a team or player to wear its logo or use its products, or through indirect sponsorship, where a company provides funding for a team or player without any direct association being made between the two.
Media rights
Media rights are the bread and butter of traditional sports, and they’re quickly becoming the same for esports. In 2019, media rights revenues are expected to hit $251 million, an increase of 26% from 2018. This is being driven by the ever-increasing price paid for broadcasts as well as the addition of new platforms, such as Facebook Watch.
The majority of revenue still comes from advertising, however. In-game advertising, such as billboards and product placements, is expected to generate $173 million in 2019. This is followed by sponsorship, which is predicted to bring in $359 million this year.
Merchandise
One of the most popular and effective ways to make money in esports is through selling merchandise. This can be done in a number of ways, such as setting up a shop on a site like Teespring or Redbubble, or through setting up your own online store.
Selling merchandise is a great way to make money in esports because it allows you to capitalise on the popularity of your favourite teams and players. It also gives you the opportunity to connect with your fans and create a more personal relationship with them.
Another way to make money through selling merchandise is by setting up a stall at conventions and events. This can be a great way to meet other fans and connect with potential customers.
So if you’re looking for a way to make money in esports, selling merchandise is a great option!
Ticketing
Event tickets are one way that hardcore fans can show their support for their favorite teams and players. While prices for mainstream sporting events can be expensive, preventing casual fans from attending, esports events are often much more affordable. This is due in part to the lack of expensive physical stadiums, but also because esports organizations want to encourage as many people as possible to watch their product. As a result, attendance at live events is growing rapidly, with some tournaments selling out arenas designed for tens of thousands of spectators.
With the growing popularity of esports, ticket prices are likely to increase in the future. However, for now, they offer a great opportunity for fans to get involved in the scene and support the teams and players they love. Tickets can be bought through official tournament websites or directly from team websites.
The future of Esports
With the recent surge in popularity of Esports, many people are wondering how they can cash in on the trend. While there are many ways to make money in Esports, some are more viable than others. In this article, we’ll explore a few of the best ways to make money in Esports.
The continued growth of the global Esports market
The global Esports market is forecast to grow from $1.1 billion in 2019 to $1.8 billion by 2022, according to data from Newzoo. This growth is being driven by a number of factors, including the increasing popularity of online gaming, the rise of mobile gaming, and the growing interest in competitive gaming.
This growth is also being fuelled by the continued development of Esports infrastructure. For example, more and more countries are now investing in Esports facilities and arenas, and there are an increasing number of professional teams and leagues. This is making it easier for players to pursue a career in Esports, and helping to generate more interest in the sport.
As the global Esports market continues to grow, so too will the opportunity for players to make a living from playing games.
The rise of mobile Esports
The rise of mobile Esports has been meteoric. In just a few years, the genre has blown up in popularity, with titles like PUBG Mobile, Free Fire, and Call of Duty: Mobile attracting millions of players from all over the world.
And it’s not just the games that are popular – mobile Esports tournaments are now some of the biggest events in the gaming calendar, with huge prize pools and millions of viewers tuning in to watch the action.
With such a huge potential audience, it’s no surprise that brands are starting to take notice of mobile Esports. According to a report from Newzoo, brand investment in mobile Esports will reach $174 million this year, and it is expected to grow to $213 million by next year.
So what does this mean for those looking to make money in Esports? Well, there are a few different ways to cash in on the growing popularity of mobile Esports.
One option is to become a professional player. While the prize pools for mobile tournaments are not yet on the same level as those for PC or console tournaments, there is still money to be made – especially if you’re good enough to compete at the top level.
Another option is to become a streamer or content creator. Due to the lower barriers to entry, mobile Esports is an ideal platform for content creators looking to get into the world of gaming. If you can build up a following on platforms like Twitch or YouTube, there’s potential to make some serious money from sponsorships and advertising deals.
Finally, you could also look at working behind the scenes in mobile Esports. With so many new tournaments and leagues popping up, there’s a need for people with knowledge of the industry to help things run smoothly. If you have experience working in Esports or traditional sports, you could be well-placed to take advantage of this growing area.
The growth of Esports betting
The global esports betting market is expected to grow from $12.9 billion in 2020 to $19.3 billion by 2025, according to a report by Market Research Future.
This growth is being driven by the increasing popularity of esports, the growth of online gambling, and the legalization of sports betting in the United States.
The Esports Betting Report 2020 found that the majority of esports bettors are male (70%), and the majority are between the ages of 18 and 34 (70%).
The most popular types of bets are on match winners (61%), followed by handicap bets (19%), and props/specials (10%).
The report also found that the majority of esports bettors are from North America (40%), followed by Europe (30%), Asia-Pacific (20%), and Rest of World (10%).
