Before asking how to make money from chess, many ask Are Chess Players Rich?
The answer is Yes. Super GMs (Grandmasters) and top players have made a fortune from the sport.
SEE THE 5 RICHEST CHESS PLAYERS AND THEIR NETWORTH HERE
However, it is significantly difficult for regular players or even Grandmasters to make good money from chess.
Does this mean there is no hope for regular players?
No! There is hope.
While you may not make a fortune like GM Hikaru Nakamura, you can earn an honest living in different ways from chess.
Here are some ways chess players make money.
Teaching and Coaching
One way Chess players make money is by teaching others how to play. You don’t need to be a Grandmaster to coach someone. You could teach kids or newbies the basics. Also, you can coach a player with a significantly lower rating. Furthermore, you could organize chess clubs/classes in local schools or summer camps.
How to Make Money from Chess: Playing for clubs
You can join a chess club in your area. If you are one of their top players, you could represent them in tournaments and chess leagues. Chess clubs also hire top players who aren’t members to represent them.
Playing in Tournaments
Chess tournaments have prizes for the best players. You could win a tournament or get a prize for outstanding performance. Nevertheless, the bigger the tournament, the bigger the prize you can win. Of course, it all depends on your skill.
How to Make Money from Chess: Hustling
Some players make it a habit to hustle with chess. Playing in bars, parks and other places with a financial stake can make you daily cash.
Writing or Blogging about Chess
Creating a chess blog or writing about chess on paid platforms is another great way to earn from chess. Also, you can write a chess book or course and sell it for cash.
How to Make Money from Chess: Youtube
Creating chess content on YouTube is a great way to earn. YouTube is one of the best paying platforms for content creators. Consequently, you can make chess your niche and earn money from it.
You could do tutorials, analyse matches, host interviews or post chess news. Also, you could create chess content on other platforms that pay.
Streaming Chess Online
Another way to make money from chess is by streaming your games live. You could stream live on Twitch, Youtube or any other streaming platform. GM Hikaru Nakamura has made a lot of money from streaming chess.
Play on paying sites
Some sites pay you to play chess online. chessmoney.com and VelocityChess allow you to win money from your online matches. Additionally, you could search for more sites like these and play there.
Get a job at a Chess Organization
You could work at a Chess Organization like FIDE or chess.com and get paid. You could be an Arbiter, Commentator, Content Creator, Blogger or Social media manager. Moreover, if you are a Developer or Programmer, you could work in the engineering departments of these organizations.
Selling Chess Merchandise
Sales of Chess Merchandise skyrocketed since the release of “The Queen’s Gambit“. You could earn by selling your merchandise or someone else’s as an affiliate.