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Can I Make Money Playing Online Games?

Many gamers are already spending at least two or more hours a day playing the latest Internet-enabled multiplayer games like Mean Street Mafia and are starting to ask themselves if they can use the time they spend doing something they love to bring in some extra cash when all is said and done.

If you were asking this question just a few years ago the answer would be an unequivocal NO! But thanks to recent gains in the popularity of gaming and broadband Internet access you can now make real money by playing PC games--real games--Online Games like TheWiseGuyMafiaLive, Mobz-War, Extreme-Mob-Wars and others.

I'm not making this up. In 2001, economist Edward Castronova calculated the wealth generated by gamers in just one game (Everquest) to be over 130 million US dollars a year1. And more recently, in 2006, another game academic estimated the total MMO economy for all games to be 20 billion US dollars, nearly a billion of that being openly traded over the Internet for real cash2. That means hundreds of millions of dollars are being exchanged within games--and I'm not talking about the game companies! I'm talking about a billion dollars worth of products and services being sold by gamers to other gamers for cold hard cash.

Doesn't making money with online games involve tedious "gold farming"?

Gold farming, in which players accumulate in-game currency that they then turn around and sell to secondary markets, is the OLD WAY to make money with online games. Because more of the world's resources are now being spent on gaming, new game businesses have sprung up, frequently out of nowhere. The new variety of income opportunities has even sparked the interest of CNBC. The December 2007 edition of Business Nation featured Second Life account holders who were making $85,000 to $180,000 annually, at home, using their avatars. CNBC estimated the GNP of these Second Life services to be 365 million dollars a year.

So while it's true gold farming used to be the only way to make money playing games there are so many more business models out now you won't be spending all day clicking on a mountain, unless you like doing that sort of thing...


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