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As a would-be chess professional, you may be wondering what to expect when it comes to earning potential from chess. You might have an idea of the different prizes that one can win in tournaments and competitions as well as other ways to earn money from playing chess competitively. <\/p>\n\n\n\n
Chess players can make money playing competitions and tournaments, with coaching services, YoutTube channels, streaming, and commentating on chess games on Twitch. Chess players can even make money by writing about the sport they are an expert in.<\/strong><\/p>\n\n\n\n In this article, we will explore the various expectations for earning one might have, depending on the level of chess player they are. We will also touch on how much money can be earned outside of competition through books<\/a>, coaching or broadcasting games live with commentary.<\/p>\n\n\n\n The game of chess has a long history<\/a> as a gambling game and it still is today. But that’s not the only way you can play for money in chess<\/a>, or win cash prizes. There are also tournaments with monetary prizes and professional players who earn their living just by playing games of chess! Let’s talk about how to get started earning some dough from this great board game!<\/p>\n\n\n\n How much money you can make as a grandmaster in chess is not actually reflective of chess ability, but more about business acumen and marketing. that said, Magnus Carlsen<\/a> can earn half a million dollars from sponsorship alone, before $60k for an exhibition. Prize money doesn’t even register for his annual income with a max $110,000 on offer to win the World Championships. So that doesnt answer the question of how much a grandmaster does make, so let’s take a look.<\/p>\n\n\n\n An average chess grandmaster is going to make around $20,000-$50,000 a year based on income streams including, Coaching, Writing, Exhibitions and Prize-Money. There are new way for Grandmasters<\/a> to create income on Twitch and YouTube these days.<\/p>\n\n\n\n This article is going to look into the various possible income streams for chess players and enthusiasts alike, and what differences your ability to play chess and official FIDE rating<\/a> might have on your earning potential.<\/p>\n\n\n\n If you want to make a living from playing competitive chess, it might not be a great idea to live in the western world or have expensive taste. Whilst there is money to be made by playing competitive chess, the competitions with good prize money are few and far between, not to mention, fiercely competitive.<\/p>\n\n\n\n Factor in traveling expenses and things start to get a little tight on the profitability of trying to earn a living in this way. That is unless you can go and win the World Championship<\/a> of Chess.<\/p>\n\n\n\n This is the prize money pool allocation from the competition from 2019<\/p>\n\n\n\n A grand total of $1.6m to be played for and shared between the top 128 players making an appearance at the final. All will be grandmasters, but there are over 1700 rated Active Grandmaster in the world right now, so the vast majority are not going to get anywhere near this sort of available prize money.<\/p>\n\n\n\nHow Much do Grand Masters make playing Chess?<\/h2>\n\n\n\n
Play Competitive Chess<\/h2>\n\n\n\n
Stage Reached<\/th> Players<\/th> Prize Money<\/th><\/tr><\/thead> Round 1 – last 128<\/td> 64<\/td> $6000<\/td><\/tr> Round 2 – Last 64<\/td> 32<\/td> $10,000<\/td><\/tr> Round 3 – Last 32<\/td> 16<\/td> $16,000<\/td><\/tr> Round 4 – Last 16<\/td> 8<\/td> $25,000<\/td><\/tr> Round 5 – Last 8<\/td> 4<\/td> $35,000<\/td><\/tr> 4th Place<\/td> 1<\/td> $50,000<\/td><\/tr> 3rd Place<\/td> 1<\/td> $60,000<\/td><\/tr> Runner-Up<\/td> 1<\/td> $80,000<\/td><\/tr> Winner<\/td> 1<\/td> $110,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n