How Much Money Is Spent On Gaming

Online games have become so much more than what we once thought of gaming. The old stereotype of someone sitting alone in front of a big desktop set up is no longer; gaming is incredibly commonplace these days, with people of all walks of life enjoying games on their mobile devices, consoles, laptops and computers. They also include their own ways to spend really money — this has led to an incredible boom in the gaming marketplace with more people than ever trying to get in on the action and revenue.

But what is the current situation when it comes to gaming? And how much money is spent on online games?

Diversity of genres

Online games can be played alone, in multiplayer mode with friends and strangers or as part of a coop

The more mainstream gaming has become, the more diverse the selection has too. Gaming companies now need to appeal to a widespread selection of people of all ages and backgrounds. They need to be able to entice many audiences as possible to get into gaming and continue to play. Online games can be played alone, in multiplayer mode with friends and strangers or as part of a coop. The most popular genres of games are as follows.

Sports Games

Online sports games have been popular for ages and draw in, you guessed it, sports fans. Many different types of sports have been made into video games including team sports like football and hockey, track and field, extreme sports like skiing, skateboarding and racing as well as combat sports. In some games your job is to play the sport (think of the Madden NFL series) while in other games strategy and sport management is the emphasis — like in Football Manager.

Some of the most popular sport game franchises reflect real world annual changes to teams, coaches and players.

RPGs

Role-playing video games (also known as RPGs) are another very popular online game genre. In this game a player controls a character's actions while immersed in a world. The story and settings are very important to these games, as are the characters. Many RPGs involve explorations of the world as well as quests — tasks that must be completed to complete a game's story. Items and inventory, actions and abilities and experience and levels are all important to this type of game.

Casino and poker games

Casino and poker games are another much-loved (and played) type of online game. Many people who once played these types of games at land-based casinos are now enjoying playing versions online from the comforts of home. The new generation are able to play 7 card stud online through their smartphones and tablets, causing the industry to grow dramatically. The online gaming sector for casino games is massive when it comes to revenue — with many countries where it is legal benefiting from casino taxes.

The money, and time spent, going into gaming

Gaming sessions can last up to two hours every evening, usually between the hours of 6pm and 10pm

Many more people are now investing in gaming and spending money — whether that's on the games themselves or add ons and accessories that enhance the gaming experience. A study that polled 1,000 gamers in 2020 found that gamers spend up to three years of their adult life playing games online. This equates to 5% of the average adult lifespan. Gaming sessions can last up to two hours every evening, usually between the hours of 6pm and 10pm.

The study also found that online gamers will see about £252.77 being spent on their games including microtransactions, downloads as well as accessories. In terms of an average lifespan, this totals at £15,924. However, this figure could be much higher if consoles and single player releases were to be included. These are important figures to game-makers and those looking to get into the business of gaming as it shows how much revenue can be made by the industry — and how much it's grown over the past twenty years and more. Many people are using online payment methods like Paypal to purchase their games, as well as subscribing to gaming subscription services.

But not every gaming experience needs to be expensive

There are many casual games that don't require money to be spent on them. If you're looking beyond free games, other games such as FIFA, World of Warcraft and The Sims series usually require just one payment — the purchase of the game. Of course, most of these games have add ons available to purchase and special expansion packages to enhance the gaming experience for players. You aren't required to spend further money after the purchase of these games, but in order to prolong the enjoyment of the game it often becomes the default choice of players.

Whether you want to invest a great deal of money or time into gaming or just want to enjoy it casually, there is an option and genre out there to suit you. Gaming companies will definitely continue to produce an array of games to reflect all interests and levels of gaming experience, and it's likely they'll continue to tailor payments and include expansion packs to encourage more people to spend as part of their gaming experience. While no one can predict exactly how the industry will change in the next few years, it's likely that gaming will continue to be popular and an ever expanding marketplace.