The aim of this paper is to examine the relationship between the time that higher education students spend playing video games during exam periods and their average grades in one Eastern European country. Moreover, the authors wanted to explore the differences among students with regard to their age, gender, year of study, and employment status in relation to video game-playing habits. Four research questions were generated and a quantitative survey among students (N = 233) was conducted at two universities in Serbia in December 2021. The results showed that, on average, students who play more games may have slightly lower grades than students who do not play games. In contrast, the time devoted to studying during the exam period is to some extent related to students' average achievement. In research sample, the best students spend the least time playing video games and the most time studying compared to other students.