Exergames are often considered an intriguing opportunity for promoting physical activity (PA) among various target groups. However, due to the large number of diverse products currently available under the term “exergames”, it is not appropriate to label exergames per se as promising tools for addressing physical inactivity. In this chapter, the authors aim to analyze current exergaming products from different perspectives to identify their strengths, weaknesses, potentials, and risks for PA and health promotion. Furthermore, this chapter provides a stimulus for thought, inspiration, and suggestions for researchers, game designers, and publishers dedicated to exergaming. It also gives a broad overview of the history of exergames, focusing on the publishers’ influence on product development and targeting (“gamification” versus “sportification”). Furthermore, the authors aim to provide a structured approach to clustering exergames based on the platforms or devices required to play them. Considering the current literature findings, the authors go on to summarize the physical, psychological, and cognitive effects of exergames and discuss the potential and limitations of current products regarding PA and health promotion. Subsequently, they provide research-based recommendations on what to consider when developing exergames by giving insight into a specific case. The work concludes with some possible future directions and an excursion into the metaverse.