Prize money in chess

I was going to play in the Southwest Open, but after calculating all the expenses decided it's just not worth it. Spending $800-$1000 dollars round trip for a chance to win $2000 seems kind of ridiculous.

Most of the big tournaments in the U.S this year seem to have a prize of about this much. I would have to be the only winner for it to be profitable. Even tying for first would be break even. I am pretty confident in myself, but not that confident. I understand doing it for fun and seeing it as a vacation, but I am in the business of making money with where I am in life right now. 

Does anyone have any insight to this or any advice for someone who wants to play chess profitably? I am going for NM, but don't want to just lose money along the way.

I mean I would pay a higher entry fee for a chance to win more money. The problem is when you calculate traveling expenses and everything it takes a huge chunk out of it. Frankly it seems impossible to make decent money in this game without coaching or having a youtube channel or something. I still play because I love it, just wish there was more potential to make money.

Running events had associated costs. Trying to find a balance of entries to cover all expenses,  provide a prize fund high enough to pull in a sufficient number of players, and low enough to not turn away too many, is hard. 

Some larger events are ran as a business, with employed staff too. It's rarer to find events with some kind of donated prize fund that doesn't have to worry about loss.

Well I'm sure many tournament organizers would wish they had more money to put in the tournament as well. Unfortunately chess is just not profitable.

I am surprised that you are just learning this now?

@1

"I was going to play in the Southwest Open, but after calculating all the expenses decided it's just not worth it. Spending $800-$1000 dollars round trip for a chance to win $2000 seems kind of ridiculous."
++ Chess is a game. It is meant to be fun. You pay for pleasure. It is a hobby, it costs.

"Even tying for first would be break even." ++ The winners are usually titled players and they get some perks like no entrance fee, or free accomodation, or even a small appearance fee.

"I am in the business of making money with where I am in life right now" ++ Not chess then

"I am going for NM" ++ Only strong GM 2700+ can live from chess.

@9

You can earn some money with streaming, with coaching, with videos or books,
but even for that you should better be a GM.
Chess is a great game, but a lousy profession.

@stassneyking 

That was a really nice joke by you! According to your live ratings on chess.com you should be even by far below 2000 USCF. And 2000 USCF is a nothing level at chess world. You're too weak as a chess player to even dream about making money playing chess tournaments.

@tygxc is right that if you want to earn decent money playing chess you should be 2700+ FIDE. If you want to earn some money from time to time you should be at least a GM level otherwise you have no chances. And you're what, 1800-2000 online and want to earn money winning chess tournaments? What a joke!

"I am going for NM, but don't want to just lose money along the way."

Who cares about what you want? Take you pink glasses off!

Sorry for me being a bit harsh with you but somebody has to tell you the truth.

Because the chess world is run by dinosaurs who have no idea how to utilize chess' current popularity.

Chess streamers can earn money, like other streamers, depending on how much audience they have and so on. If they are not strong players, they have to have something else going for them, to be interesting to watch or instructive to beginners, or both.

That is not the issue. Being a coach can earn some money as well. And one doesn't have to be GM to be a streamer or a coach. Of course, it doesn't hurt.

But as far as playing goes, top 100 in the world can earn their living by playing, and probably that is a bit of a stretch, probably only people over 2 700 don't have to supplement their income with coaching or something else. So earning money by playing chess, is not really possible for an amateur player.

Chess is a poor mans game, generally people who are losers in life play it moving wooden pieces around on the board , trying to salvage their ego and poor self image by thrashing the ego and hurting an other poor soul like themselves, the misery of a chess masters life is proverbial, even the best ended up in mental asylums eg Steinitz and planinc, committed suicide eg vitolins and lembert oll , or died of hunger eg schechter, or were just burned out eg Fischer and Morphy, even great aleknine died penniless without enough money even to buy cigarettes , always remember the golden words chess is a good mistress but a bad master, if you become its slave it will rot your life so keep it as a hobby not a profession 

how does this contribute anything to this post?

It doesn't.  Don't respond to crackpots like this.  They are not worth the time or energy.

That goes for gosuz too.  Get a life you two. stay off or be productive.  

I suggest you become a siding salesperson, you’ll make a living at least. Play chess rather than make it your work. Wish you the best either way.

Expecting to make real money from chess tournaments when you're not a top 100 Grandmaster is more ridiculous.

Outside of the top GMs, the people who travel to play chess don't do it for the money. They travel to play because they wanted to visit the particular city anyway, or they want to play against a higher level of competition (or different competitors) than what is available where they live, or they don't have many (or any) tournaments available where they live.

It's a similar thing with other hobbies and sports. 99.95% of the people who travel to run in the Boston Marathon have zero hope or expectation of winning a dollar; they travel to run it for other reasons.

Beside poker, which activities have large prize pots for tournaments on smaller level than national - international - world? My local chess tournament has 600 - 700 euro as prize for first place and some smaller sums for second - fifth, which is pretty good but you can probably get as much by working Saturday - Sunday without having to compete. 

The fox and the grapes

I found out pretty early on that unless you are WINNING events with prize funds bigger than that it isn’t sustainable alone, outside of top 100 (and that’s a stretch sometimes) classical players you either have to have a day job, get creative with the tournament playing or coach/start a YouTube or stream

we all wish there was more potential and I think that there is an increasing potential every year