As a long-time gamer and follower of the esports scene, I must admit that Riot Games‘ recent announcement has left me both intrigued and cautious. On one hand, it’s refreshing to see a shift in policy that could potentially open up new revenue streams for teams, which is always beneficial for the growth and sustainability of the industry.
Last week, I covered a rumour suggesting that Riot Games was preparing to make a major policy change. It was said that the gaming titan was about to allow VALORANT and League esports teams to accept betting companies as sponsors for the first time.
According to TopMob’s confirmation from Riot Games, League of Legends esports teams and VALORANT Champions Tour teams based in the Americas and EMEA regions are permitted to pursue such partnerships starting from 2025.
Cultural Shift
Riot Games has consistently refused to work with sponsors who are associated with gambling or operate using cryptocurrencies within the esports community they support.
According to the COO of Riot Games Esports, it’s been announced that changes are on the horizon.
A few weeks ago, we announced to our League of Legends Esports and Valorant Championship Tour teams in the Americas and EMEA regions that starting from 2025, they can enter into partnerships with betting platforms that have been approved by Riot Games. This decision was not taken lightly; it follows a thorough analysis and strategic planning to find a solution that will create new income streams for the teams, while ensuring the competitive fairness and enhancing the fan experience.
Here are two important things to know:
Channels owned by Riot Games will remain free from betting-related content. You won’t see any betting brands featured in our broadcasts, social media posts, or team uniforms.
2. Prior to any partnerships in betting, Riot ensures that all potential partners adhere to our principles of honesty, openness, and fan interaction. All sportsbooks collaborating with teams must comply with local regulations and licensing norms and align with Riot’s standards regarding content and promotions in the relevant category.
As an enthusiast, I’m thrilled about our team venturing into a fresh sponsorship realm for our esports. We’re committed to treading carefully and learning as we go. If at any point this partnership threatens the authenticity of the sport or diminishes the exceptional gaming experience our fans enjoy now, we’ll make adjustments. Based on the success of this initial phase, we’ll assess potential growth opportunities or refinements for our strategy in the future.
Of course, this announcement sparked criticism from enthusiasts of competitive scenes who strongly oppose betting on events.
It’s no big secret that esports betting makes up around 50% of the industry’s global revenue, but that doesn’t mean everyone agrees with the notion of it.
For more of the latest esports news, stay tuned to TopMob
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2024-12-16 09:17