Riot Games, the developer of popular video games, has announced that Tier 1 eSports teams for League of Legends (LoL) and VALORANT (VCT) can now secure betting sponsors. Despite expecting some backlash from fans, John Needham, President of Publishing & Esports at Riot Games, acknowledged that betting around these sports is already prevalent and will persist regardless of their involvement.
Needham expressed confidence that partnerships with betting companies can be successful if handled thoughtfully, with proper safeguards. He believes that a well-planned sports betting program will offer vital revenue to eSports teams, support the establishment of regulations and education programs to maintain game integrity, and bolster competition standards.
Riot Games outlined four methods for engaging with sports betting partners. Firstly, potential betting sponsors will undergo a thorough vetting process before partnering with eSports teams. Secondly, all betting partners must utilize the GRID data platform for eSports information. Thirdly, teams are required to implement their own internal integrity programs and evaluate them regularly. Lastly, revenue from Tier 1 LoL and VCT teams will be distributed to Tier 2 teams to assist their growth.
A key decision by Riot Games is that while teams can have betting sponsors, there will be no gambling promotions on Riot-owned broadcasts or social media channels, unlike traditional sports which frequently feature gambling ads. Additionally, teams cannot display betting sponsor logos on the front of players’ jerseys.
Needham concluded by acknowledging potential challenges with the new initiative and stressed Riot Games’ commitment to doing right by players, teams, and fans, ensuring the sustained success of their eSports experience.
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com
