The purpose of this study was to determine if there are significant differences in the development of life skills, such as personal, educational, social, and work-related skills, between those who had and had not played in video game tournaments. Results from a survey of 203 students in a public research university are reported in the paper. Using Chi-square, statistically significant differences were found between students who had and had not participated in video game tournaments in the reported improvement of several life skills or abilities, such as arithmetic skills, giving directions to others, functioning as a member of a team, leading a group of people, coordinating the activities of other people, and ability to memorize information. The results show that playing in video game tournaments does have positive consequences.