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How to Earn Money in Sim Racing - Simplace

How to Earn Money in Sim Racing

, by Alex Myastan, 10 min reading time

From going pro to Youtube videos to winning small leagues, there are many options for making money in Sim Racing. How much do you make in each? How do you choose which to focus on?

Last updated: 23 January 2024.

INTRODUCTION

Is it not the dream to make money from the thing you love doing? Yet, it’s not so straightforward as that. The Japanese principle of Ikigai brings some clarity. Doing what you love is one of four factors in living a life of purpose.

You need to also do what the world needs, what you can get paid for and what you are good at. The holy grail might be to win a competition like the F1 Esports Series, a championship with a $750,000 prize pool in 2021. The world loves watching competitions as entertainment. And if you’re both talented and dedicated, you’ll be good enough to get paid very, very well.

What is the path to that upper echelon of Esports? And if that is not your destination, what are the other options you have to get paid for doing what you love?

A full formula one esports team at an event with multiple professional sim racing setups.

A team’s setup at the F1 Esports Series 2018. (Photo: Esports F1 series by Gamepare licensed under CC BY 2.0)

 

JUMP TO SECTION

 

THE FUNDAMENTALS

As you carve out your journey, you’ll be faced with several decisions. Do you want to go full time or are you alright with things being part-time? Should you drive in iRacing or F1? Whatever your choices may be, there is one fundamental to remember: Do what you enjoy most.

That’s what will drive you to drive your car, time and time again. Whichever path you choose, dedication is critical. To be a top Esports driver takes 1000s of hours. To grow a Youtube channel takes years of constant uploads. If you do what you love, your dedication shall not fade. Follow the fun(damentals)!

GOING PRO

The above fundamentals advice is especially relevant when you are going Pro. Your hobby will become the skill you get paid for. You must be prepared to train, smartly and efficiently. You need to be ready to negotiate with various organizations, some with an eye for exploitation.

Tobin Leigh provides a quick but comprehensive guide to the pro career 

Usually, the way it works is that if you show pace and consistency at a high level in any competitions, certain organizations will be looking to pick you up. They will pay you a salary with certain bonuses if you win, but they receive the prize money before redistributing it.

If you do make the top leagues, there is good money to be made. Here are the top prize pools for the top sim racing games:

Game Cup Year Prizepool
Asseto Corsa V10-R League 2021 $161,662
F1 F1 Esports Series 2021 2021 $750,000
Forza Motorsport ForzaRC IS 2019 Finals 2019 $250,000
iRacing 2021 eNASCAR iRacing Series 2021 $260,000
rFactor2 2017 Las Vegas eRace 2017 $1,000,000

 

Since this is such a nascent industry, there are no hard or fast rules for salaries and earnings, even if you drive hard and fast. Some pay you nothing, but you get their brand to strengthen yours... Some pay $5,000 if you get drafted into a league. Others may pay you $3,000 per month.

The most important thing here is to know what you are worth. Remember this crucial figure: 59% of Esports money comes from sponsorships! So, if you are intent on being a Pro, remember that the audience you draw in is just as valuable as your driving skills. Even if you aren’t the best driver, if you can develop a following, that’s money baby.

CONTENT CREATION

Since we are on the topic, what about content creation? If you’re going Pro, this serves as negotiation leverage, but if you’re not, this remains a viable option to make money with Sim Racing. So what does it look like?

Creating videos and live streaming are the ways to go, ideally both. That’s what will build your following and with a following, there are various ways to earn money. The foremost are affiliate links. Fanatec has a strong affiliate program, where you can earn €80 for example, if someone buys a wheelbase with your link. (I can’t remember correctly, I think the program is called OnlyFanatecs…?)

Jimmy Broadbent has done exceptionally well in the Sim Racing content creation space. See his video where he races against Norris and Verstappen!

Another stream of income is monthly subscriptions. On Youtube and Twitch subscribers would pay you around $5/month, of which you earn around 60-70%. Patreon is another platform where you can get subscribers, but there the norm is to justify someone joining with exclusive content of some kind.

Streamers tend to also get donations, while videos can earn you money through ads. The hard truth here is that it is tough to make enough money to go full-time. For example, one small Youtuber revealed that on his small channel of 1000 subs, he earns $46 from 13k views per month. 

Perhaps your content creation can fund your Sim Racing hobby… Hey! That’s a pretty good deal, but to go full-time you’ll need to dedicate a couple of years to grow your following.

COMMUNITY LEAGUES

There is yet another option to make money. There are loads of leagues for all the games, each with its own prize pool. There are platforms, like The SimGrid and World Sim Series, that list leagues and events for you to choose from. For example, The SimGrid has listed over 450 events across multiple games.

These platforms show loads of relevant information to make it easy to find the right fit. For example, on The SimGrid you can find the game you want to race in: by game, by the registration fee, by spots left and more. See the track you’ll race on and the cars you can choose from. Each event will have its own etiquette and rules. Make $500 here, lose $20 there. If you are going Pro, this is a great way to place yourself in competitive scenarios and to learn from better players.

If you don’t think you’re good enough to make money from sim racing, why not start your own league? It’s a different skill set, perhaps better suited to you. You’ll need to be good at project managing, you’ll need to solicit sponsorship and you need that political nous to wrangle all the interested parties together, in peace and harmony. (If you’re interested in that, why not also look at Esports management?)

MIX, MATCH AND MASTER

Here’s an interesting story. You spend 15 years trying to be an IRL racing driver, all the while your soul mate stares at you longingly: It’s your PC. You’ve spent thousands of hours with this true love, but your head was elsewhere. Finally, one day, you come to your senses and declare your undying commitment. 

It’s a match made in heaven! You find a team to drive for. And now that your head has followed your heart, you start a Youtube channel to supplement your income. But then, Covid hits…

What do you do? Despair? Nay, a bond that deep provides you with endless inspiration! You start a coaching academy. Why stop there? You start a website that lists leagues for players to create and join. You’ve mixed your income streams, you matched with your love and you master your path.

That’s the story of David Perel (more or less, excuse the dramatization). He’s the founder of SimGrid, mentioned earlier. Out of his passion and dedication for Sim Racing, he’s built an intriguing career. You can too.

IT'S AN ENDURANCE RACE

Use the concept of Ikigai to find your niche in the Sim Racing world. The world wants entertainment and will pay for it, that’s the source of the money. You love Sim Racing, so all that’s left is to find what you’re best at in that world. 

Do you take the perfect lines in every corner? Go pro. 

Do you speak the perfect lines when you are on camera? Make content.

Do you draw the (perfect) line when managing people? Start a league.

Or, do all three.

We have plenty of Black Friday and Cyber Monday deals, from a variety of manufacturers including Moza Racing, Cube Controls, Sim-Lab and more. Check out this article with tables that specify which products and brands have discounts, and how much those discounts are. It also contains some general tips for tactically approaching the Black Friday craze.


Editor's Note: This was first published in mid-2022 and then migrated to our new site in early 2023. We updated it in early 2024.


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We aim to create a comprehensive repository to help you make your sim racing gear decisions. Check out some of our other detailed articles:

> A Beginner's Guide to a Sim Racing Setup: This article provides an overview of your entire setup.

> Best Sim Racing Cockpits: This article recommends the top ten cockpits for all budgets and compares ~70% of all the cockpits on the market in a simple table.

> The Wheel Base Guide: A comparison of every single wheel base on the market. We show the torque, platform compatibility, price and other relevant information in tables. We also have an article that analyses the value of entry-level direct drives, and one that recommends Xbox wheel bases.

> The Steering Wheel Guide: See types of wheels and the other considerations when buying one. We also have one that ranks the 12 Best F1 Steering Wheels.

> The Wheel Compatibility Guide: See the bolt patterns and QR Hubs of all the major wheel and wheel base brands.

> The Shifter and Handbrake Guide: A comparison of every sim racing stick shifter and handbrake on the market.

> The Pedal Guide: A comparison of all the budget and entry-level pedal sets, and the most popular mid-range and high-end pedal sets on the market.

> How to Earn Money in Sim Racing: An overview of the various ways in which you can get income from your favourite hobby.

We've started a series of posts where we spotlight different brands. To start off with, check out our spotlight on Moza Racing, and our spotlight on Simons Gaming Solutions, an up-and-coming manufacturer.

We also publish sim related news, like analysing the value of the Fanatec ClubSport DD, reviewing the Fanatec QR2 or looking at the latest WRC updates. You can also find articles about us, like this article about our visit to the recent ADAC Sim Racing Expo.

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