Man, them youtube gamers could make a living for thousands of people. Check out PewDiePie on Youtube--he banks like 40,000 to 50,000 a DAY. Millions per YEAR. It's insane how much video games can get you these days. And trust me, he's not a very good gamer! He's only been doing it for 4 years.
Just based on traffic alone, Youtube will be a much larger earner than a blog. I've done a lot of research into this. If you feel brave, you can advertise your channel in some cities by printing QC codes on a sticker and pasting them in legal spots (like street lamp corners, power poles, etc) in populated areas. Buddy of mine did that and doubled his traffic!