As we trundle through the remainder of January, plenty of us will be starting to feel the pinch as payday remains frustratingly far away. If you’re looking for a way to stretch your budget until the end of the month, it might be worth rooting around in the loft for an old video game console you no longer use.

According to new research from Virgin Media O2, the UK is home to around 49 million consoles that are sitting unused. Valued at £4.14 billion, that’s a lot of cheddar gathering dust.

Sales data from the tech seller indicates that console sales figures rose significantly over Christmas 2025. With households replacing old consoles with newer ones, they’re often relegated to a drawer instead of trading them back in for a bit of money.

However, there’s an easy way to recycle your old gaming hardware. Not only is it better for the planet, but you’ll get paid for your efforts, too.

O2 has a recycling scheme that will take your old consoles in return for cash. It can be found over on O2’s site with a search bar to find the console you want to get rid of.

Of course, modern consoles will fetch the highest prices. Here’s how much you could get for a recent system depending on its quality:

• PlayStation 5: Up to £160
• Nintendo Switch OLED: Up to £92
• Xbox Series X: Up to £110

Older consoles are accepted, but fetch a much smaller price. For example, O2 will only reward you with £8 for a Wii U, or £4 for an Xbox 360.

Still, it’s better than nothing – especially if these consoles are just taking up space in your attic.

Speaking about the O2 Recycling system, chief sustainability officer Dana Haidan said: ““With millions of new consoles taking pride of place in gamers’ homes this January, we know it can be overwhelming for Brits to know what to do with their unwanted gaming gadgets.  

“That’s why O2 Recycle exists – to keep consoles and other tech in use for longer, whether that’s refurbishing and reselling them so they can be enjoyed by other gamers, or by ensuring they’re responsibly recycled when reuse isn’t possible.”

It’s worth noting that other services are available for trading in your own tech. For example, a PlayStation 5 in good condition will fetch £180 in cash at CEX, while the high-street trader will give you £108 for a Switch OLED in its original packaging.

However, prices at these stores often depend on the condition of the item you’re trading in. A pristine console that’s been well looked after will fetch a much higher price than one that’s taken a beating.

As such, I’d advise gamers to shop around for the best price for their unused tech. Selling on your old hardware remains a great way to stretch your January budget a little further, though – especially if Chrismtas saw a brand new console replace your old one.