Ever wanted to make money playing Madden or FIFA? The Xbox Tournaments with Virgin Gaming app allows you to do just that, and it now offers even more ways to cash in.

Launched earlier this year, the Xbox Tournaments app lets Xbox Live Gold members play in cash tournaments for Madden 13, FIFA 13, NHL 13, NBA 2K13 and Far Cry 3. The app is totally free to get started and is accessed via the Xbox 360 dashboard. Instructions on how to sign up can be found here.

Many of the app’s tournaments are free to play, with winners receiving around $1 for three-round tournaments. With the newest update, players can now play buy-in tournaments as well. The real money, though, is earned through climbing the worldwide leaderboard. Since its launch in April, Virgin Gaming has awarded 360 players with nearly $100,000 in cash prizes.

Speaking of worldwide, the app was initially launched in the US, UK, and Canada, but is now available in New Zealand, Australia, Ireland, Sweden, Finland, Denmark, Norway and Mexico. In celebration of this expansion, Virgin Gaming is offering one randomly drawn player an Ultimate Gaming Lounge. The prize package includes a big screen TV, a surround sound system, a mini fridge, and, strangely, an Xbox 360 console. Sign up before June 25th to be included in the drawing.

Lastly, the app now allows players to wager their own cash on FIFA 13 matches. More of these cash challenge titles will be added in the future.

While this doesn’t seem like a “quit your day job” opportunity, playing in international video game tournaments from your living room is a swell idea. Making a few bucks here and there is just icing on the cake.