The spread of the COVID Pandemic throughout India resulted in an explosion of interest in playing Ludo online with friends, family, and loved ones. Surprisingly, the internet gaming business experienced exponential growth during the pandemic. However, did you realize that many ludo money app users made millions while also having a great time? Wondering how? Let’s explore.
The marketplace for online gaming has seen a significant transformation. The total value of the worldwide video game market was estimated at USD 195.65 billion in 2021, and analysts predict it will increase at a CAGR of 12.9% between 2022 and 2030. It’s looking more and more like a good bet as customer engagement, enthusiasm, and registrations rise.
The gaming industry brings in more money than the movie business, the music industry, and the major sports leagues combined. That’s a lot of money, right? The video game business is thriving, but it has also revolutionized our understanding of what it means to be entertained.
Globally, there are now more than 2.3 billion people who regularly engage in gaming. There are those who play games on their personal computers, mobile phones, and consoles.
How Do Competitive Gamers Make Money?
Making money through gaming has always been seen as a far-fetched fantasy. The eSports industry was in its infancy, with only a dedicated core of players and enthusiasts. Only a small but dedicated group of gamers knew what competitive gaming was.
The popularity of eSports has increased exponentially in recent years. As the popularity of video games has grown, so have the opportunities for people to make a living doing something that was once seen as little more than a distraction.
Professional gamers make their living from a variety of sources, including tournament winnings, salaries, endorsement deals, live streams, and Video-on-demand content.
- Prize Money
The most basic and traditional means for a professional player to earn money on the internet is through prize money. When a player performs well enough to win a share of the tournament’s prize pool, they receive that share.
After all, an esports player or team could lose money at a tournament if they don’t perform well. Professional gamers in the esports industry were becoming weary of the uncertainty that came with being part of a smaller team and wanted alternatives that provided more financial security.
Cloud9 and Team Liquid were pioneers in the esports business. For professional gamers, who had to rely entirely on prize money before, the security of a steady paycheck was a welcome respite.
If players were paid more than the competition, they wouldn’t have to worry about losing money if they didn’t perform well. The prize money was no longer the main source of income for the competing teams.
They are a widely used and highly profitable way for pros and streamers to make money in the gaming industry. As professional gamers and streamers gained mainstream visibility thanks to their massive fanbases, they began receiving sponsorship from companies previously uninterested in supporting video games or esports.
Beverage companies like Red Bull, Monster Energy, and Coca-Cola, as well as tech companies like Intel and AMD, all sponsor prominent players and teams. They get paid to play and stream in exchange for promoting their sponsors’ goods on Twitch and other platforms.
Streaming is the primary source of income for most gamers who are not professional eSports competitors. Gaming was undoubtedly the beginning of this rapidly increasing sector, and it proceeded to account for a substantial portion of overall traffic on streaming sites, even though it has extended to include in-person activities like cooking or simply chatting.
With more than 73% of the market, Twitch is clearly in the lead. The most frequent method for streamers to generate money on Twitch is to become a partner, which enables channels to offer users a payment for access to content.
Normal streaming video can be viewed without a membership, but subscribers enjoy perks such as the ability to support their favorite creators and access to exclusive content like custom emoticons.
To accommodate fans who are unable to tune in during the live broadcast, several esports commentators and streamers post abridged versions of their Twitch streams on YouTube. Professional gamers often supplement their income by selling video-on-demand clips on the video-sharing website YouTube.
Now, a professional gamer has far more financial security than individuals who tried to make a living from a gaming just a few years ago. Professional gaming teams and leagues now give guaranteed pay and perks to modern gamers, thanks to the popularity of esports and the live-streaming of gaming content. If you were told as a child that there are no careers in gaming, you may now tell your kids that this is a real option.