How Esport teams get money
The environment in esports is constantly evolving and growing everyday, especially compared to other traditional sports such as soccer or baseball. However, this growth comes with great challenges, but there are also many potential solutions available to those who are willing to put in the effort to find the best way to approach them.
One of the biggest challenges that all professional esports teams are facing is how to obtain consistent and reliable financial support in order to compete in different leagues and tournaments. With so many people becoming passionate about esports over the past few years, it has become much easier for teams and players to obtain the support they need to stay on top. However, getting the money they need is not always an easy task.
What are the most common ways of obtaining funds for an esports team? Are there some options that are more common than others?
How to get money for your esports team
Lets list and explain a few ways that you can start getting money for your up and coming esports teams:
- Crowdfunding Esports Team : This is a great option if you are trying to raise a relatively small amount of money to finance your team. You can set up a crowdfunding campaign through websites like GoFundMe or Kickstarter and find a lot of support for your efforts. Make sure to post your video online and send it out on social media to increase visibility and attract people to your campaign.
- Esports Investors: This could be yourself or your team alone, perhaps friends and family who are interested in supporting your goal. Its like crowdfunding but a little more exclusive. If you go this route be sure to be realistic with letting everybody the amount of risk and potential reward they could get. Be honest and upfront with everybody.
- Esport Grants: This is a common way to fund just about anything these days, but especially something new and innovative like the growing world of esports. You can look for government grants as well as private ones from companies looking to support the growth of esports. Depending on where you live there might be some that could be applicable to your needs but since the industry is new and competitive it may be hard to find specifically esport ones.
- Esport Sponsorships: This is probably the most common way that teams are financed today. A lot of major organizations are starting to sponsor teams and are looking for opportunities to get involved. Getting your name out there is essential in the esports industry and having an organization backing you up can really make a big difference in the success of your team. Just be sure your proposal is clear and concise so you can get their attention.
- Esport Sales: Selling merchandise can be a great source of income for any team and can be an easy way to finance your operation and get fans excited about your products. Make sure that you have a good inventory of popular items so that you can hit the ground running as soon as you start your business. You can create your own shop or sell on amazon. Keep in mind having a strong brand helps push more sales.
- Streaming: Putting up your own stream is a great way to get the word out about your brand and connect with people in your area and around the world. Its a great way to showcase your skills and grow a loyal following of fans who are rooting for your success. There are a wide range of platforms you can use to broadcast your stream like twitch and YouTube so be sure to do your research and choose the one that makes the most sense for your team.
- Tournaments: Participating in tournaments is a great way to fund your operations and expand your reach within the community. It can also help you gain exposure and attract sponsors who might be interested in supporting you in the future. There are a lot of different tournament options available so do some research and figure out which one is the best fit for your particular situation.
- Donations: This is a good way to ask for support if you feel confident in your ability to attract donations from other sources. Set out your goals for the donation and explain what it is you plan to do with it so that it can be put to good use.
You can always be more creative and try to find other ways to make money to fund your team. Its important at the beggining stages to really focus on building up a viable business plan. Don’t worry, its sounds harder than it is. A plan just keep you in line to make sure you are meeting your goals and milestones.
For opportunities in esports check out here for current opportunities.