In recent years, the growth of skill-based games is significant. Be it mobile video gaming, card games, or fantasy sports, in every department skill-based game is touching new heights. Last year’s COVID pandemic has increased the gaming value especially in the gaming countries like India and the USA. As the game is growing day to day it is expected that the owners may get high revenues in the coming years.
Definition - It is a kind of game where the involvement of money is real and it is played on online platforms or online digital media.
Talking in general, it is a type of game where the real money is wagered but played on many online platforms. In this type of game, the involvement of money is real and the winner will be rewarded with real money if he wins a particular tournament or competition. Here, you have to buy chips/coins to play the game. However, if the player loses, all the invested money will vanish. Each chip/coin has a monetary value and the winner can redeem the chips/coins and withdraw the real money.
Some examples of real money games: Rummy, Callbreak, Pool, Poker, Ludo, Carrom, and some fantasy sports app like MPL, Dream11, etc.
Fantasy sports is one of the fastest-growing skill-based games. Believe it or not, Dream11 has held 90% of the share of the gaming market. The main reason behind this is IPL seasons and more international matches. There are many fantasy sports available in the market. The fantasy sports apps generate revenues according to which season of the game it is. If football leagues are going on then the fantasy apps related to football will gain more users and generate huge revenue.
Well, we all have played fantasy sports at least once and if you haven’t, you should try at least once. It is much more than entertainment and fun. The skill-based game apps have been rising at a rapid speed and it is gradually increasing day to day. The reason why fantasy sports are so popular is they indirectly depend on live matches. People choose their favorite players, make a team and after the end of the match, they earn money.
Now, let’s understand the ways how owners generate revenue through skill-based games.
Whenever a user enters any game and pays an entry fee to play, a game owner automatically earns a commission (mostly mentioned in terms and conditions) on any amount of money spent by the user. Whether the user uses those coins or chips to play/ not, the owner has already earned!
A game admin can arrange special tournaments for the players where they have to pay and join the tournament. They use their skills, play the tournament and earn a healthy amount. Tournaments are organized with different entry fees. The more expansive entry-free is, the bigger will be the winning rewards. The organizer can also vary the winning amount based on top 3, top 5, or top 10. It means only the top of the leaderboards can win the prize only and the remaining players can't get anything. However, the owner should have players who understand the value of the tournament and have that craze otherwise, the plan might be worse.
The skill-based game company can regularly generate revenue and let skilled players earn money through in-built competitions. This is one of the most common and easier ways to generate revenue for skill-based games. Competitions require just a little amount to enter into the game. Here there is only one winner and the owner can generate good revenue through a single competition between just a few players. Here, the owners earn their shares as the players have paid the fees to compete.
Advertising is probably one of the best ways to earn revenue. Even free games earn money using this way. Many consider it indirect income. Generally, third-party ads are in the header and footer sections of the game screen. When a player taps on it, a certain amount will be transferred to the owner’s account. However, the amount is very low. That’s why skill-based game owners don’t waste more time in such types of ads.
You might have experienced and have seen ads on the whole mobile screen many times in apps, but you don’t know the name of these kinds of ads, right? It is called interstitial ads. These are the interactive and catchy ads that cover the whole screen of the mobile screen. These ads appear suddenly when you complete one level or take a pause while playing the game. A single click on the ads can increase the revenue count of the game owner.
As this generation indulges themselves more and more in gaming, the scope for entrepreneurs has been becoming wide and creating a bunch of opportunities to generate revenues in a short time with less effort. We are in an era where everyone wants to play online games irrespective of their ages. That means you can build an app suitable for any age to succeed. Well, skill-based games are rising at a lightning speed and one thing that might surprise you is most people don’t play games just for entertainment purposes. Gamers take skill-based games as a source of earning while having fun. The opportunities for game entrepreneurs in this field are higher than in any other industry.
The gaming world is rising at a rapid speed and the next decade will be the best for all the gaming industries. Take a step in the industry, gain some knowledge and if you are afraid of losing, it’s ok. You can’t succeed if you don’t fail. Explore more about gaming, and be an owner of a well-reputed skill-based gaming company.