How Do Chess Players Make Money?

Chess is a pretty cool game, and people who play it are often considered being intelligent. However, you might wonder how do these intelligent people make money out of a board game? Who actually pays them? What are their sources of income and blah blah blah?

Well, the most decent answer would be if you are the best at what you do. Money always follows, but that’s not the answer you are looking for, obviously. You are reading this post because you need the specifications. So let’s dive into it.

How do chess players make money?

There are various sources through which a chess player can earn money, but these may vary from individual to individual.

Salary from clubs

Just like any other competitive sport, chess also has clubs. A chess player gets paid to represent clubs in tournaments and individual matches.

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Some of the world’s renowned chess clubs are Greater London Chess Club, World Chess Club Moscow, Baden-Baden Chess Centres, etc.

Tournament and matches

These are the primary sources of a chess player’s income. The amount of money earned depends upon the size of the tournament and a player’s performance.

Sponsorships and endorsements

Chess is an international game, and its popularity is increasing with passing day. Companies pay top players high-end money for endorsing their products and services and also for being a face to their brand.

Literature and Movies

Many chess Grand Masters have written books on the subject and on their personal lives. Publishing a book could be one of the best ways to earn income in the long term. A chess player can also be a part of a film as a consultant, actor, writer, or whatever fits according to his potential.

Teaching

Being a chess coach is always an option for chess players. One could start a school, a club, or simply could teach students on a one-to-one basis. Teaching is the most common way of earning money for anyone who is good at something.

Organizer

Chess players often earn money by organizing chess tournaments and events related to chess. It’s more or less similar to organizing any other event.

Streaming

Online chess is the future of chess. Chess players are earning good money through streaming their match videos on Twitch and YouTube. Some players use these platforms to teach chess to a wider range of audiences.

Selling chess merchandise

You can create cool products related to chess and sell them online. Fans love merchandise and in recent years the industry has boomed substantially.

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So now that you know how chess players make money, you can go for any of the above-mentioned options if you are good at it.