Gamification and IoT (Internet of Things) are the most emerging trends in computer science domain in these days. Gamification is a rising drift which can be applied in various fields such as education, business, health-care, service, organizational management etc. IoT simply refers to the scenarios where network connectivity and computing potential extends to the various devices, objects, sensory units and along with these our day to day appliances which are being allowed to generate, automate, exchange and consume data without or less human interference. This paper reviews several empirical studies to examine the status of current research in Gamification. Along with that the possibilities of empirical role of Gamification in various existing IoT based applications.