What are the monetization models in online gaming?
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You have developed your game and it’s ready to be launched. However, just launching your game, making it famous, and getting a lot of users are not enough.
You must also find the best way to monetize your game and maximize your profits. To do that, you must select the most suitable monetization model(s) for your gaming platform.
In this blog, we will show the four most popular and effective monetization models in online gaming that can help you maximize your revenue generation capabilities.
Let’s dive in.
1. In-app purchases
In-app purchases, or IAPs, are one of the most frequently used monetization models in online gaming. This model allows players to buy game-related items through the app using real money.
Players can use their credit cards to buy in-game currencies, character levels, tokens, new avatars, extra lives, and other exclusive features. You can use this monetization model to give players what they need the most to enjoy the game or clear new levels.
For example, if the players find a particular quest to be very difficult, you can offer unique time-limited weapons and potions that they can exchange for money.
This way, players can easily clear the next rounds, experience premium gaming products, and be happy. And your gaming app can make money. It’s a win-win situation!
2. Freemium
Freemium is yet another widely used model of monetization in online gaming. This model allows the players to install, sign up, and play games for free.
However, apps that use this monetization model usually offer a premium version of their games that is unavailable to free users.
For example, the premium version may have more powerful characters, more exciting quests, better weapons, and faster level-ups than the free version of the game.
To access the premium version, the players may have to buy a monthly subscription or make other in-app purchases, making it a solid monetization model for online gaming businesses.
3. In-app advertisements
This monetization model shows advertisements from various brands to the players to generate revenue.
To use this model, you, first, need to build a sizable player base and then contact various brands willing to showcase their products on your gaming app.
After that, you can charge the contracted brands a fee for showing their ads to every one thousand players or a fixed fee if the players click on the ads.
You can use various popular ad models in your gaming app, such as native banner ads, interstitial ads, reward video ads, playable ads, etc.
As long as your gaming app has a large player base who spend their time playing your games, this monetization model can bring you a significant amount of revenue.
4. Betting model
This monetization model is widely used by gaming apps and platforms that offer casino, sports, color prediction, dice, and other betting-related games.
For each round, the players will place bets to begin the game. If the players are lucky and win, they will earn money according to the preexisting betting standards. If the players lose, then your gaming platform can secure the betting amounts.
iGaming has an active global player base of hundreds of millions of people. So, as long as your gaming platform offers many interesting games and a generous RTP rating, you can attract many betting enthusiasts and generate a lot of revenue.
Final words
There are many ways for you to monetize your online gaming app and platform.
Apart from the four most popular monetization models mentioned above, you can also use other methods to generate revenue, such as the subscription, paid game, and hybrid monetization model.
Evaluate all monetization models to find which one suits your gaming app well. You can even use multiple models if they work well with your gaming platform. Do that and you will start generating revenue in no time.
