Can You Make Money from Chess? 24 Exciting Options You Can Try
Chess is one of the oldest and most beloved games in the world. It is played by millions of people worldwide, from beginners to grandmasters.
But can you make money from chess? This question has been debated by chess enthusiasts for years, with some arguing that it is impossible to make a living from the game while others insist that it can be a lucrative career path.
You can make money from chess by becoming a professional chess player and participating in tournaments or by pursuing other chess-related jobs, such as coaching or content creation. The higher your chess skills (rating, title, etc)are, the more money you can make.
Keep reading to learn more about all the different ways you can make money from chess.
Can You Make Money from Chess?
Anyone can potentially make money from chess. While it may be more challenging for casual players, there are various opportunities available.
However, it’s important to note that making a significant income from chess often requires a high level of skill, dedication, and strategic pursuit of opportunities.
How Much Money Do Chess Players Make?
The amount of money that chess players make can vary based on their skill level, monetization of chess-related activities, and tournament success.
When it comes to Grandmasters, their monthly earnings can range from $2000 to $3500 through game participation only. Some grandmasters generate additional income by offering chess lessons, typically charging over $100 per hour, while Elite grandmasters may command rates as high as $500 per hour, depending on their expertise.
Keep in mind that not all professional chess players can achieve the same level of earnings as grandmasters, which prompts them to explore other avenues for monetizing their chess skills. While direct tournament winnings may not be the primary income source, they can still find opportunities to earn a substantial income from chess ultimately.
Can You Make Money Playing Chess If You Start Late?
You can make money playing chess even if you start late. While starting early and dedicating years to intense training may provide an advantage, there are opportunities for late starters as well; however, it may require extra effort to catch up with those who began at a young age,
24 Ways to Make Money From Chess
There are plenty of creative ways to make money from chess. You can come up with your own ideas, but to make things easier, here are some great ways to monetize your chess skills.
Participating in Chess Tournaments
Making money through tournaments is a common approach for chess players, although it may not yield substantial earnings for beginners or even professionals. However, winning can still provide a chance to earn some money.
The table below illustrates the average prize money based on chess skill level.
| Skill Level | Average Prize Money |
| Beginner | $100-$500 |
| Professional | $1000+ |
| Grandmaster | $30,000-$100,000 |
Generally, the higher the skill level, the greater the financial opportunities in tournaments.
Elite grandmasters have the potential to exceed $100,000 in earnings. They may also receive payment simply for attending chess tournaments.
While tournaments offer potential earnings, they are not a completely reliable income source, and the average player may not earn significant amounts. There is also the risk of not winning. So, even though relying solely on tournaments can lead to disappointment, it’s still worth a try for chess players.
An example of a recent tournament is the FIDE Candidates Chess Tournament held in Spain. It held great significance as the winner earned the opportunity to participate in the 2023 FIDE World Championship.
Here are the prizes for the 2022 FIDE Candidates:
| Placement | Prize Money | Prize Money in USD |
| First Place | €48,000 | $47,447 |
| Second Place | €36,000 | $35,585 |
| Third Place | €24,000 | $23,724 |
| Per Half Point Scored | €3,500 | $3,460 |
Participating in Online Chess Tournaments
The popularity of online chess tournaments is on the rise, offering players a chance to earn money similar to regular tournaments. However, the amount of money you can win depends on your skill level, with grandmasters، obviously, earning more than beginners.
One notable online chess tournament is the ongoing Champions Chess Tour, which commenced on February 19th and concludes on November 20th, 2022. It showcases some of the world’s finest chess players.
The tournament comprises two stages: Regular and Major, each offering different prize structures. In the Regular stage, 16 players compete against each other, and the winners from each round advance to the Major stage to face off against other Regular stage winners.
There are separate prizes for each stage. The regular stage has a prize pool of $150,000, with $60,000 distributed as indicated below:
| Rank | Prize |
| Winner | $250,000 |
| Runner-up | $15,000 |
| Semifinalists | $6,000 |
| Quarterfinalists | $20,00 |
The remaining portion of the prize pool, totaling $90,000, can be won throughout the tournament. For instance, $250 is awarded per point, $750 per win, and $250 per draw. Any remaining $250 from a draw is accumulated in a bonus pot.
Moving on to the Major stage of the tournament, the total prize pool amounts to $210,000. Each match point is valued at $2,500, and players with fewer than 2 match points receive $5,000. Only the prize money earned through match points is considered in the tournament.
For aspiring grandmasters still on their journey, Chess.com’s Legends Arena provides a more fitting chess competition. Monthly blitz arenas allow players to compete for 90 minutes, with cash prizes awarded to the top three players in each blitz category.
Prizes are categorized based on the player’s Chess.com blitz rating, which is calculated at the end of each Arena. The three categories are “open,” “U1800,” and “U1200.”
| Category | Rank | Prize Money |
| Open | First Second Third | $200 $100 $50 |
| U1800 | First Second Third | $200 $100 $50 |
| U1200 | First Second Third | $200 $100 $50 |
While participating in online tournaments may not yield significant earnings unless you are a grandmaster, competitions like the Legends Arena can be a viable option for professional or beginner chess players. Online tournaments also offer valuable practice and the opportunity to progress to the next level of your chess journey.
Participating in a Chess Club Tournament
Chess clubs encompass a range of skill levels and sizes. As a beginner chess player, joining one of these tournaments offers a favorable opportunity to win since you won’t be facing top players worldwide.
More experienced players can opt for higher-tier chess clubs that align with their skills. The size and skill level of the chess club directly impacts the potential prize money available to participants. So, engaging in a tournament hosted by a chess club is undoubtedly a venture worth pursuing.
Here is a list of average first-place prizes based on the type of chess club:
| Type of Chess Club | Average Prizes for First Place |
| School chess clubs | $50-$100 |
| Small chess clubs | $100-$300 |
| Well-known chess clubs | $500-$1,000 |
| National chess clubs | $1,000+ |
Starting a Chess YouTube Channel
Chess enthusiasts can seize the opportunity to monetize their passion through YouTube. The beauty of starting a YouTube channel lies in its cost-free nature, granting creators complete autonomy over their content.
On YouTube, revenue is generated through ads, with earnings increasing as viewership grows. To accrue a substantial income, it is necessary to cultivate a sizable and engaged audience. Numerous YouTube channels monetize chess by featuring gameplay, discussions, and instructional content.
Regardless of whether you’re a grandmaster, professional, or beginner, launching your own chess YouTube channel is within reach. Many chess players have already established their channels and successfully generated income by sharing their love for the game through videos.
Here are a few examples of popular chess YouTube channels and their estimated monthly earnings:
| YouTube Channel | Estimated Earnings Per Month |
| GothamChess | $31,500 |
| GMHikaru | $15,600 |
| Agadmator’s Chess Channel | $13,800 |
| BotezLive | $7,830 |
| Samay Raina | $7,100 |
| Chess.com | $6,210 |
| Chess Talk | $5,940 |
| Saint Louis Chess Club | $4,700 |
| chess24 | $3,220 |
| Magnus Carlsen | $1,660 |
Among these YouTube channels, some are created by grandmasters who found inspiration in sharing their knowledge and love for chess. Other channels are crafted by casual players who simply enjoy the game.
As a result, even novice chess players have the potential to monetize a chess YouTube channel, provided they amass a substantial audience interested in their content. While building such a following may require time and effort, it is entirely achievable.
Live Streaming Chess Games on Twitch
Another avenue to explore is starting your own Twitch live stream.
Similar to video game streamers, Twitch streamers who play chess can generate income by streaming chess games, offering lessons, and providing tips. The best part is that you don’t need to be a grandmaster to launch your own Twitch channel.
It’s important to note that streaming on Twitch may not guarantee a stable source of income. Viewers contribute by subscribing to your channel, with the freedom to choose the amount they wish to pay. Numerous renowned grandmasters and casual players earn money through this platform.
Here is a list of notable Twitch streamers and their estimated earnings from subscriptions:
| Twitch Streamer | Approximate Earnings From Subscriptions Per Month |
| GMHikaru | $6,172 – $9,482 |
| GothamChess | $3,645 – $6,867 |
| Chessbrah | $4,300 – $10,761 |
| GMNaroditsky | $1,495 – $3,013 |
| AnnaCramling | $1,036 – $2,332 |
Starting on your own Twitch channel is straightforward, and the potential earnings make it worthwhile. However, building an audience may require some time and effort.
Having a background in chess and presenting engaging content can greatly assist in growing your viewership. Once you have built a dedicated audience and garnered a sufficient number of viewers, you can consider becoming affiliated with Twitch. This affiliation opens opportunities for your audience to send virtual gifts or subscribe to your channel in exchange for financial support.
Writing for Chess Websites
Several renowned chess websites offer opportunities for writers to contribute, including this one! (Reach out to me here if you are interested and I’ll get in touch).
Compensation for writing for chess sites typically ranges from $50 to $100, depending on the specific website and its requirements as well as the type of articles and how experienced you are. Some websites may require evidence of your chess expertise before considering you for a writing position.
For most websites, you don’t necessarily need to be a grandmaster or professional player. However, these companies generally expect you to demonstrate sufficient chess knowledge to write engaging blogs and articles.
Additionally, proficiency in English is crucial for this type of job in order to maximize your earning potential. You can write for chess sites in languages other than English, but you are probably going to get paid less.
Writing For Chess Magazines
In addition to website writing, another avenue to explore is writing about chess for magazines, which can be a rewarding way to earn money. While extensive chess knowledge is not always a prerequisite for magazine writing, the focus is often on presenting chess news in an engaging manner.
Securing a position as a magazine writer for chess can be challenging unless you have established yourself as a well-known commentator or player. However, if you do manage to secure such a role, compensation typically ranges from $50 to $100, depending on the magazine and the scope of work assigned.
Becoming a Chess Hustler
Engaging in chess hustling presents an opportunity to earn a modest sum, typically ranging from $15 to $100. A chess hustler is someone who plays chess publicly with a willing stranger, and the agreed-upon amount of money goes to the victor.
Experienced hustlers often seek out individuals in public who may be open to higher stakes and select them as opponents. These seasoned hustlers often emerge victorious, offering you a potential avenue to earn some extra cash.
Performing at Chess Exhibitions
Chess exhibitions, on the other hand, typically require a level of renown or professional standing as a chess player. In this approach, you would compete against multiple opponents in a single day, each paying an entry fee for a chance to defeat you.
Working as a Chess Commentator
To pursue a career as a chess commentator, possessing a prestigious title or professional experience is advantageous.
Commentators are sought after for grandmaster chess games and online chess events, although the demand for this profession is relatively limited unless it involves elite and privileged competitions.
Working as a Chess Photographer
Photography plays a significant role in capturing the essence of chess tournaments and competitions. While a photography degree may not be necessary, having relevant experience and a portfolio showcasing your skills is essential. Depending on the nature of the tournament, photography earnings can range from $50 to well over $1,000.
Here are six renowned chess photographers:
- David Llada
- Lennert Ootes
- Amruta Mokal
- Maria Emelianova
- Alina l’Ami
- Niki Riga
Interviewing Chess Players
Conducting interviews with chess players can be a straightforward task that doesn’t require professional chess expertise. The key is to be friendly, attentive, and genuinely interested in the players’ insights.
Typically, interviewers engage with chess players after a game, asking them a series of questions. As a chess interviewer, you have the potential to earn a few hundred dollars, depending on the prestige and significance of the competition or tournament.
Working as a Chess Arbiter
The role of a chess arbiter encompasses ensuring adherence to the rules, preventing cheating, and closely monitoring individual games. Arbiters must possess a superior understanding of chess rules and tournament formats compared to the players.
Becoming a grandmaster chess player is not a prerequisite for being a chess arbiter; rather, one must have a comprehensive knowledge of the rules, along with patience, modesty, and keen attentiveness.
As an arbiter, you can expect to earn around $30 per hour, with the potential for higher compensation depending on the tournament’s caliber and scope.
Becoming a Chess Second
A chess second serves as the assistant to a top-tier player, primarily focusing on analyzing openings and anticipating the games their player will face. However, securing a role as a grandmaster’s second often requires influential connections in the chess community.
Here is a list of grandmasters’ seconds, along with their estimated net worth:
| Grandmaster | Chess Second | Chess Second’s Net Worth |
| Peter Svidler | Nikita Vitiugov | $1 million – $5 million |
| Magnus Carlsen | Peter Heine Nielsen | $1 million – $2 million |
| Viswanathan Anand | Rustam Kasimdzhanov | $1 million – $5 million |
Getting Appearance Fees
Grandmasters and renowned players often receive appearance fees when they attend chess tournaments, serving to enhance their reputation. The amount of money granted as appearance fees varies widely, ranging from hundreds to thousands of dollars, contingent upon the grandmaster’s level of fame.
Getting a Chess-Related Scholarship
This aspect primarily appeals to ambitious players striving for recognition. Engaging in a scholarship program can offer a viable avenue for earning money. Although age limitations are typically absent, spaces may be limited.
Getting a Sponsorship
Esteemed players, recognized for their excellence, attract the attention of diverse brands seeking sponsorship opportunities.
Noteworthy grandmasters like Hikaru Nakamura, sponsored by Red Bull, and Magnus Carlsen, endorsed by Clothing Lines, accrue substantial earnings solely through sponsorships, amounting to thousands of dollars annually.
Writing a Book About Chess
With the advent of modern technology, individuals now have greater accessibility to self-publishing books on a wide range of topics. The realm of chess is no exception, allowing you to craft your own book encompassing valuable tips, tricks, or the artistry of the game.
By selling your book on platforms like Amazon, you can effortlessly generate an income ranging from $10 to $20. Additionally, producing a physical copy of your chess book can prove advantageous and yield a similar financial outcome.
Coaching Chess
Embarking on a career as a chess coach is relatively straightforward, contingent upon your depth of knowledge in the game. Attaining grandmaster status is not a prerequisite for coaching; rather, an exceptional understanding of the game’s intricacies, rules, and gameplay suffices.
For those at the pinnacle of chess prowess, annual earnings as a chess coach can reach up to $103,500.
Here are the annual salaries of chess coaches categorized by their skill level:
| Skill Level | Annual Salary |
| Beginner | $20,000 |
| Professional | $39,500 |
| Grandmaster | $72,500 |
| Top player | $103,500 |
Developing a Chess App
This opportunity is ideal for app designers and developers. Designing a chess app that incorporates subscription models, informational products, or other monetized content can be a lucrative venture.
Noteworthy chess players like world champion Magnus Carlsen have ventured into creating their own chess apps and achieved financial success. While the earnings may not be consistent, developing a chess app offers a viable avenue to make money through the game.
Selling Chess Photos
Another excellent avenue for earning income from chess involves selling stock photos of chess. You can achieve this by uploading your images to free platforms and receiving donations or establishing your own website to sell the photos.
Alternatively, you can explore premium networks where you earn commissions when someone purchases your photos. The potential earnings in this field are entirely within your control. Moreover, you may receive specific offers for particular types of chess photos.
Selling Chess Products
If you possess chess-related products such as chess clocks, boards, sets, or even antique chess pieces, you can sell them for a substantial sum. These items hold particular appeal to schools, chess clubs, and enthusiasts of the sport.
Selling Chess e-Books or Courses
Similar to writing a book about chess, creating an e-book or course offers a chance to generate income, albeit with heightened competition and the need for distinctive content.
Numerous grandmasters have released courses and e-books on mastering the game, but presenting your own unique perspective can capture your attention.
To effectively sell your e-book or course, it is crucial to align with reputable platforms like Amazon or Shopify. The revenue you generate hinges on factors such as pricing your content and the frequency of purchases by customers.
Playing Chess on Apps
You can also profit from playing chess through mobile apps. The beauty of these platforms is that you don’t need to possess grandmaster-level skills to participate. All you require is a genuine passion for the game and a solid understanding of its intricacies.
Big Time Chess
Big Time Chess offers a complimentary app that enables you to engage in chess battles against real opponents while earning actual money online.
Each game you play on the app grants you a ticket that enters you into cash prize draws. The more games you play, the more tickets you acquire, thereby increasing your chances of winning real cash rewards.
GameColony
GameColony presents a remarkable website where you have the opportunity to earn real money by playing chess.
You can access online gameplay for free and earn tickets to compete in tournaments or redeem them for actual currency. Additionally, you have the option to purchase tickets for a chance to participate in these tournaments and vie for enticing cash prizes.
PlayChessOnline: AskALink.com
PlayChessOnline, available on AskALink, provides a diverse array of games, including chess, with the added incentive of winning real money.
To enter tournaments, a nominal entrance fee ranging from $0.50 to $100 is required, and the victorious participant claims the entire prize pool.
Conclusion
In conclusion, the world of chess offers numerous avenues for individuals to turn their passion for the game into a source of income. Whether you’re a grandmaster or a dedicated enthusiast, there are various opportunities to capitalize on your chess skills and knowledge.
The key lies in embracing your passion for chess and exploring the avenues that align with your strengths and interests. With determination, creativity, and a love for the game, you can find your own unique path to monetizing chess and potentially turning it into a fulfilling career.
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