I'm usually fine with $5/hour if the game is literally fantastic. Lower quality games I hope for more time out of it though.
Gaming
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Surprised I haven't seen monster hunter world / iceborn yet. Just a very good fun game to play
Spelunky 2 - $20. One of my all time favorites here. Over 200 hours in, don't regret any of them. I could easily double my playtime without seeing everything.
Dark Souls 1 - $30(?). Back in my teen years on the 360 I bought Dark Souls without knowing anything about it. I played through it with a buddy, passing the controller on death, and we had a blast. That first run transcends money for me, I would pay anything to keep that memory. Recently that same buddy and I replayed the game together and are now reworking our way through the series.
Racingmaybe - $3. This game is amazing. It's a turn based drag racing game with an upgrade system. This is the best driving game I have ever played, far and away. It's a hobby project by a solo developer. At it's $3 price point this game is well worth the money. Seriously, if you're reading this, buy it. Or drop your Steam name and I will gift it to you.
Mount & Blade: Warband - $20. This game is really starting to show its age but I still love it. Endless mod potential gives it tons of replayability.
I could go on forever but these ones came to mind first.
I hate games with very low playtime or just not very appealing to replay. Some of my best buys:
The ascent, Grim dawn, Shadow tactics blades of the shogun
Currently finishing Deperado's 3 (version 1 and 2 is not very good imo due to incompatible graphics updates).
@berg honestly, when it tells me a good story, either through traditional storytelling or when it's through my own emergent gameplay.
Games that aren't going to do that aren't even worth downloading for free.
Did a quick calculation and found that a 60$ game needs to be 35hrs to break even with movie prices edit: *where I live
Although I rarely think about game length when buying games. I find that what my gut says is a justified price is far more influenced by a game's reputation/store page/reviews/what kid of game I feel like playing at the moment. What I'm pricing is my perception of an experience, not an amount of enjoyment for an amount of time. After I buy a game then unless it's unexpectedly bad or broken I don't really think about whether it was worth the price. Edit: In fact for longer games I find myself thinking if it was worth the time more.
I think it's worth mentioning that I don't buy games with a hype wave behind them, so the "perception of experience" is closer to the actual experience than if you apply the same to new releases.
For game length, I find that left to my own devices I like when games are 10-20 hrs in length. For longer games I prefer when there's a driving story that I can strive for, and even then it gets boring around the 30-40 hr mark. Some open ended games captivate me for 100+ hours but that's not my expectation from a game.
I see that people are shouting out games in the comments, so I'll add one. Cyber Hook is a fantastic runner/platformer game. It's really fun (especially the beginning and dlc) and it's pretty cheap. It's not very long especially if you don't bother getting good times in levels but the experience alone is worth it. Although, for some reason it requires internet connection for game progression so take that into account when buying too.
I will buy a game when:
The gameplay is up my alley, or the experience is worth the time invested into it.
And
The final cost of the game after dlc is equal to or less than 1/10th the cost of my PC. Usually aim for 1/20th if I'm iffy about the gameplay.
When I got my PSX in 1997, the games sure felt like a good deal at $50 after paying $70+ for cartridges for years. I only got one new game per year at full price for my SNES. I also generally felt happier buying on PC because new games were also less than consoles for a while.
Now with the indie scene, there is a lot more variance, even though I also occasionally grab top-shelf releases. I still think FTL might have been the best $10 I've ever spent on a game. At the same time, I paid $60 for Persona 5 Royal right at launch even though I had played the original game, and I still thought it was incredible value.
For me, it's more about how much I enjoyed the experience than a simple dollars per hour equation or something. It's a very case by case basis for me.
I remember when Alien:Isolation came out, I told people I got my money's worth in just the first hour from how scared shitless I was the first few times the xenomorph came out to hunt you.
On the other side, I got Starfield for $20 off in the release week, but despite how many hours you can sink into that game, I found the entire experience rather bland and dull and regret buying it.