Video games are big business, and chances are they're the perfect holiday gift for somebody on your list.

Here are things to know about gaming's Big Three and hot titles released in the past year:

PlayStation 3

The PlayStation is a powerful gaming machine that also doubles as a Blu-ray player (high-definition DVDs). It's also the most expensive console available, though prices have dropped recently.

Here are things to consider when buying a PS3:

Hard drive space. Versions of the system can have from 20GB to 160GB of memory. If you're planning on downloading games and other items from the PlayStation Store, you'll want to have a decent amount of space, preferably 60GB or above.

Backwards compatibility. Older versions of the system could play PlayStation and PlayStation 2 games. Newer versions can't, or have limited compatibility. Check on this before tossing your PS2.

Price. This can vary depending on the version and any bundled software. Plan on likely $400 to $500.

Games. New games run $59.99, though some are cheaper. Popular system-exclusive titles: "Metal Gear Solid 4: Guns of the Patriots" (rated Mature), "Resistance 2" (Mature), "LittleBigPlanet" (Everyone), "Valkyria Chronicles" (Teen), "Hot Shots Golf: Out of Bounds" (Everyone).

Xbox 360

Microsoft's system competes with the PS3 as far as quality, and the two systems share a lot of the same games. The 360 is popular with those who want to play online because of its Xbox Live service ($50 a year), which provides dedicated servers for online play and a few other perks.

Things to consider:

Hard drive. The 360 doesn't have a built-in hard drive. If you plan to download games or take advantage of a recent update that allows games to be installed, you'll want a hard drive. Versions of the system are available with hard drives that are 20GB, 60GB or 120GB in size. Memory cards also are available, though they hold only a fraction of the space.

Price. Depending on the presence and size of a hard drive, the system ranges from $200 to $400.

Backwards compatibility. The 360 can play some older Xbox titles, but not all of them. A complete list is available online; just Google "Xbox 360 backwards compatible."

Games. New games usually are $59.99. Popular system-exclusive titles: "Gears of War 2" (rated Mature), "Fable II" (Mature), "Tales of Vesperia" (Teen), "Halo 3" (Mature), "Scene It? Box Office Smash" (Teen).

Wii

If you don't know what a Wii is, you've been living under a rock. Nintendo's system has become more widely available but likely will still be hard to find this holiday season.

The Wii is the best system for children because it by far has the most games rated Everyone and Everyone 10+. Many games are intended for a group of people such as a family.

Unlike the other systems, there is only one version of the Wii, which comes with the game "Wii Sports" and sells for $250.

Things to consider:

Extra controllers. Because many Wii games are multiplayer, you'll likely want to pick up a few more sets of controllers. The remote sells for $40, while the Nunchuk is $20.

Backwards compatibility. The Wii can play all GameCube games and even includes ports to plug in GameCube controllers. So don't toss those yet.

Games. The Wii's best games are those created by Nintendo. New games generally run $49.99. Popular system-exclusive titles: "Wii Fit" (with balance board; rated Everyone), "Super Smash Bros. Brawl" (Teen), "Mario Kart Wii" (with wheel; Everyone), "de Blob" (Everyone), "Wario Land: Shake It!"

DS and PSP

The two handheld systems have a share of the market as well.

The DS Lite, available in many colors, is $130. It tends to be better for younger children because of its near-indestructibility. It also has far more choices for games.

Games are usually $30 to $35. Some popular recent choices: "Chrono Trigger DS" (rated Everyone 10+), "The World Ends With You" (Teen), "Professor Layton and the Curious Village" (Everyone).

The PSP, which is great for those who want to watch movies on the go, exists in three versions, though the original probably is online only or used. The PSP-2000 is a slimmer, redesigned version of the original and can be found for $170. The PSP-3000 has a brighter screen and runs for $200 in a bundle with a game.

Games tend to be $40. Some popular recent titles: "God of War: Chains of Olympus" (Mature), "Crisis Core: Final Fantasy VII" (Teen), "Patapon" (Everyone).

Other titles

Many games are available on multiple systems. Music/rhythm games are popular now, especially "Rock Band 2" and "Guitar Hero World Tour." Each game can be bought individually or with a bundle that includes a guitar controller, drum set and microphone. Bundles cost around $180.

Other big games available on multiple platforms: "Fallout 3" (rated Mature), "Grand Theft Auto IV" (Mature), "Burnout Paradise" (Everyone 10+), "Dead Space (Mature), "Call of Duty: World at War" (Mature), "Need for Speed Undercover" (Teen), "LEGO Batman" (Everyone 10+).

A lot of the popular video games are rated Mature, which means buyers must be at least 17. For information useful in deciding whether to buy a Mature-rated title for a child or teenager, visit the useful site WhatTheyPlay.com.