As many of you know, Lootbear is currently the biggest site in the world for renting (and renting out) Counter Strike skins. It works in a pretty simple way, letting users rent skins from other users, so called ’suppliers’. The users get to use high-value CS:GO skins for a pretty low price, and the Suppliers get paid for renting out skins they do not use.
I started renting out skins on Lootbear about a year ago. Now I think it’s time to share how much I have made, as well as cover how much you can expect to earn, if you wish to become a supplier on Lootbear.
How much money do I make on Lootbear?
As you can see, in my first year on Lootbear I brought in about $60. $60 isn’t a lot, you might be thinking – but considering my low inventory value, that’s actually pretty impressive! I started out with only a Bayonet Stained, and worked my way up, adding more items gradually. In the last month alone, I made almost exactly $10, meaning that I currently expect to make about $120 per year. Considering the fact that my inventory value is about $450, I make 26% on my invested money yearly. Not bad compared to other investments!
Do you want to try renting out your skins on LootBear as well? Or maybe you want to spice up your own CS:GO inventory without spending a fortune? Click this link to get a 10-day free trial!
Maximize your Lootbear earnings
When I started renting out skins on Lootbear, I didn’t really take it that seriously. There are a bunch of things I could have done differently to bring in even more revenue.
I believe the best way to make as much money as possible on Lootbear is to purchase the skins with a discount, rather than buying them straight off the Steam market. This can either be done by looking for skins on Lootbear’s own market, where people post their skins cheap in order to cash out a little quicker. Another great place to find cheap CS:GO skins is on other third party sites, such as bitskins.
Further, any skins valued at $400 or more will require extra validation on the end of the renter, which only a few percent of users have. This greatly reduces the amount of users who are able to rent your skin, meaning your nice expensive skin or knife, will likely be rented out less often. These more expensive skins might not be all bad though, as some user’s might be looking specifically for a more expensive knife, for example.
Generally, I believe the best strategy is to go for skins valued between $150 and $300. Try to get as good of a discount on these skins as possible, to further increase your return on investment. These skins will likely be rented out almost all the time, maximizing the time your skin is making money for you. Also, you might want to check a potential skin’s availability on the Lootbear site before you buy anything. If there are already hundreds of the exact skin you are looking at, you might want to go for something more rare.
Lootbear guarantees a 3% monthly return on investment, so if your skins are continuously rented out, a skin worth $100 will return $3 monthly. This might sound low, but if you purchase your skins a little cheaper than Steam’s market value, the monthly return could be much higher. Furthermore, with the wonderful effect known as compound interest, a 3% monthly return will give you 43% yearly if you choose to re-invest your profits into new skins.
Lootbear themselves often recommend promoting your store to find new potential customers. Personally I doubt that this will do much for your store’s revenue, since people who click your link are unlikely to find your specific skin appealing enough to go through the extra work of renting it from you. Instead, they can sign up, and find another skin of the same type for the exact same price. Of course, this does not apply if you have something really special, but for most people I don’t think it is worth the extra hassle of branding and promoting your store. For Lootbear on the other hand, it is a great way of getting extra promotion for free.
Update as of March 2021:
Since I wrote this article, I left my skins on loot bear untouched for another 6 months, and I thought it would be a good time to revisit this article and update the information. I have not promoted my store in any way, nor have I added or removed any skins. I’ve only spent a few minutes now and then, logging in and checking my earnings, maybe once a month.
My skins have continued to generate about the same amount of money every month. You could say not much has changed, so why would an update even be necessary? Well, this shows the stability of loot bear’s platform. Even though a lot of time has passed, and thousands of new user’s have joined loot bear, you can still make about as much as suppliers did one year ago. With a lot of people being stuck at home right this passed year, the demand for CS:GO skins have risen, and the same goes for the supply of skins available to rent.
Furthermore, the overall quality of Lootbear’s platform has improved steadily, with a more user friendly interface, less buggs and a more helpful customer support team.
Interested in trying lootbear for yourself? Click this link to get a 10 day free trial and test it out!