How to Make Money in the iGaming Business?
The iGaming sector is one of the fastest growing industries in the world with an annual revenue cap of $91.5 billion! Whether you’re an avid gamer or an entrepreneur, this growth brings plenty of opportunities to make money and even create an enduring career.
In this article, we’re going to dive into some of the money-making opportunities in the iGaming sector that you can take advantage of today.
Opportunities in the iGaming Business
The iGaming industry is made up of several divisions, each offering its own set of opportunities, such as the following:
- Selling Video Games
- Building games
- Rental services for video game players
- Video game production companies
- Video game centres- either online or physically
- Reality shows based on iGaming
- Training services for people that want to learn video game development techniques
- Video game podcasts/ YouTube channels and TV shows
Some of these opportunities require some form of start-up capital, while others require no up-front investment at all except maybe your time and energy. For example, you could opt for a video game podcast or YouTube channel with minimal start-up cash. All you’d require is a point and shoot camera or your smartphone camera, a gaming laptop (which you probably already have) and enough know-how about the iGaming industry. You can keep your listeners or views enthralled with the latest statistics on iGaming trends, game reviews and the latest industry developments etc.
Alternatively, you can start building games using affordable software from a platform like Mobzway Technologies. They provide customizable iGaming software, smooth game-play, nice graphics and year-round support.
If you’re looking to setup a virtual or live gaming center, be sure to do your research and look around for different gaming vendors. Some will charge you a fortune in setup fees while others will offer you quality games for free, in exchange for exposure.
Let’s take a closer look at a few more of these opportunities, shall we?
As gaming enthusiasts will tell you, playing with your mates amplifies the fun and injects some exciting friendly competition into the experience. However, in order to do this, gamers must create a shared server which can be a time-consuming and costly exercise
You can start a server service tailored specifically for gamers that want to enjoy multi-player games. Or you can take it a step further and customize your server to a particular game that’s wildly popular like Minecraft.
There are literally millions of gamers that play Minecraft every day and your company can help them to keep the empires that they’ve built intact. You can even create different packages for players with exclusive features and to suit different budgets.
Produce Video Games
You can also make money in the iGaming business by producing video games. As a video game producer, your job is very simple; all you have to do is manage the administrative duties of the video creation process, while other team members get on with actually creating the game.
This is a great opportunity for anyone that wants to be a part of the iGaming industry but doesn’t necessarily have the technical know-how or developer skills to create a game from scratch. You’ll be providing a very valuable piece of the puzzle because you’ll act as a project manager that takes care of functions like budgeting, licensing, marketing, project workflow and human resource organization.
This is just one of many administrative jobs that are available in the iGaming sector, and unfortunately, a lot of people are unaware of them. There’s a lot of demand for people with a background in project management and administration to manage the back-end of the video production process.
Become a YouTube Gamer
iGaming YouTubers are some of the most highly paid creators on the platform, and PewDiePie is a good example of this. What PewDiePie did was to leverage his passion for gaming combined with his Swedish humour to attract raving fans. So far, he’s grown his channel into a million dollar empire and most of what he does is just upload videos of himself playing video games.
You too can realize the same success by starting your own YouTube gaming channel. Sure, it will take some time and patience to develop a following but your success is inevitable when it comes to this niche. Just be sure to upload videos consistently, only play high-profile game releases, share your content on social media and engage with your users regularly across all the different social platforms.
As with any business, the results that you get on your iGaming venture will be tantamount to the amount of time and energy that you put into it. If you’re thinking of developing games from scratch make sure that you get a relevant gaming license first, specifically one for gaming developers. Be sure to get professional help with the online gaming license application, as it can be a daunting experience if you do it on your own.