5 Ways To Make Money From Gaming

By Anonymous Ink

"Hey Google, what can I do to make money? ". We've all been there. This is one question that young people have asked and will no doubt, continue to ask. The answer to it typically varies; from learning a valuable skill such as copywriting or programming to answering paid surveys or even starting a YouTube channel. While these are all very valid, gaming or eSports in general, is largely ignored.

Electronic sports or eSports for short, has to do with competitive video gaming where amateurs, professional players and teams compete against each other in various video games for recognition, fame and prize money. The eSports scene has grown significantly over the years. According to Business Fortune Insights, the industry is valued at a staggering $1.72B as of 2023. Asia, Europe and the Americas account for the highest participant population in the industry.

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Wheres the money in it?

The revenue comes from various sources, including:

1) Tournaments and competitions: The most basic of avenues for making money from esports whether as a player or team is to enter or facilitate competitions and tournaments. In 2021, then professional Call Of Duty player, Scump, won a $100k from one single tournament match. The tournament had a prize pool of about $1.2M at the time. The 2022 League Of Legends world championships had a prize pool of $2.2M. Those are some mind shattering digits when converted to the Naira.

2) Sponsorship and advertising: Major brands and companies sponsor events, players and teams seeking exposure to the large and engaged audience that esports attracts. Atlanta Faze, arguably the biggest esports team in the world, has had sponsorships with companies such as Nissan, McDonalds, Nike and even Manchester City.

3) Streaming and content creation: Popular players and personalities often stream their gameplay and create content on platforms such as Twitch or YouTube earning income through subscriptions, donations and advertising.

4) Merchandise and apparel: Many esports teams and players sell branded merchandise and clothings, catering to their fanbase and generating more income.

5) Ticket sales and live events: live esports events attract large crowds and ticket sales contribute to revenue. Online ticketing and virtual events became more popular during the Covid-19 pandemic.

However....

A dominant eSports presence could really change the way the Nigerian society functions and alter the way we see gaming as just a pastime. For one, asides the fact that eSports essentially pays one for playing games, it instills values such as unity and cooperation. It teaches you how to work with diverse people and achieve your goals as a team. Valuable social skills such as communication and critical thinking are also developed (yes, gaming involves critical thinking too).

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Also, it can be used as a tool of poverty alleviation. less privileged people who are good at various games can use this as an opportunity to make money for themselves and make new connections. It would provide an alternative for those who are thinking of going into fraudulent activities such as cyber crime. Diaz Biffle is a 20 year old American streamer who has made over $250k in tournament winnings alone! 

Despite all the pros mentioned above, our Nigerian reality poses some critical problems:

Our cultural orientation is one that supports formal vocations and occupational skills. A gamer will most likely not be taken seriously by members of the society. This would force people to refrain from active participation. 

Important too, is the fact that there is little to no social infrastructure to support the development of eSports. Infrastructure here denotes essentials such as constant electricity and stable and reliable internet services. To some people, these things are a luxury.

It's high time we identified the opportunities that abound in eSports as a tool of self empowerment.