Competitive video gaming has evolved from a niche hobby into a global spectacle, and investors are taking notice. This year’s biggest esports tournament, currently underway in France, features a staggering $75 million prize pool and draws over 2,000 players from more than 100 countries. The event is expected to pull in over 750 million viewers worldwide, dwarfing the estimated 220 million who tuned into this year’s flagship American football championship. With several more major tournaments planned before year’s end, each projected to attract audiences in the tens of millions, the financial footprint of competitive gaming has become impossible to ignore.

For investors wondering how to capitalize on this boom, the options are broader than you might expect. Esports stocks encompass publicly traded companies that build the infrastructure behind these events, and they span several categories. Game developers like Electronic Arts, Microsoft, Tencent, Roblox, and Take-Two Interactive create the titles that competitors actually play. Hardware makers such as HP, Dell, Logitech, Apple, and Corsair Gaming supply the desktops, headsets, and peripherals used in competition. Then there are the graphics card manufacturers like Nvidia, AMD, and Intel, whose components power the high-performance rigs essential to professional play. Streaming platforms also play a crucial role, with Amazon’s Twitch and Alphabet’s YouTube broadcasting tournaments to massive global audiences.

Investors who want broader exposure without betting on individual companies can turn to specialized exchange-traded funds. Options include the VanEck Video Gaming and Esports ETF, which tracks companies involved across various stages of esports production, and the Global X Video Games and Esports ETF, which follows firms engaged in game development, streaming, team ownership, and hardware manufacturing. The Roundhill Video Games ETF offers another avenue by focusing specifically on companies that develop video games.

As with any sector play, there are important trade-offs to weigh before diving in. Buying individual stocks carries higher risk because your returns depend heavily on the fortunes of a single company, where management decisions, earnings reports, or regulatory headaches can move shares dramatically in either direction. Funds and ETFs spread risk across multiple companies, which can soften the blow when one stumbles but may also cap your upside potential compared to picking a winner. Skeptics also note that while esports viewership numbers are impressive, popularity hasn’t always translated into profitability for individual teams. Still, believers argue that competitive gaming holds a unique advantage: it reaches Gen Z and millennial audiences who are increasingly tuning out traditional sports broadcasts entirely.