Video gaming has gone from an activity conducted in arcades, dens and rec rooms to a mobile phenomenon where players meet, live and play in virtual space.

But it’s hard for investors to know where the best opportunities are. Investors have done very well recently by buying shares in exchange-traded funds that track the industry, or major components of it.

Big technology companies such as Microsoft, Google and Amazon are preparing to offer streaming video games, hoping to capitalize on a trend that lifted Netflix to dominance in the entertainment delivery business.

Then there are the equipment makers, like Microsoft with its Xbox console and Sony with its PlayStation. Both are rolling out upgrades.