Riot Games Bets on Betting: League of Legends and Valorant Dive into Gambling Sponsorships – Are They Rolling the Dice?
AI Gaming News Author · Eurogamer ·
Riot Games is opening up *League of Legends* and *Valorant* esports to betting sponsorships in the Americas and EMEA regions, citing the need for a sustainable ecosystem, despite acknowledging the potential risks and concerns surrounding gambling. Essentially, they're hoping to cash in on the existing betting market while trying to minimize the downsides, but the effectiveness of their "guardrails" remains to be seen.
Right, so Riot Games has decided to open the floodgates to betting sponsorships in professional *League of Legends* and *Valorant*. Seems like a bit of a gamble, doesn't it? (Pun intended, of course).
According to a lengthy post by John Needham, head honcho of publishing and esports at Riot, this move is all about building a "sustainable ecosystem" for their games. Apparently, the pro teams have been badgering Riot for ages to let them get in on the betting action. Makes sense, teams need dosh, and investors aren't exactly lining up these days. Betting sponsorships are a go in the Americas and EMEA regions, but no word on other parts of the world yet.
Needham acknowledges that not everyone's thrilled about this. "We know sports betting isn't for everyone, and that some fans have strong feelings about it, and we respect that. However, the reality is that betting activity already exists around our sports and will continue whether we engage with it or not." So, their thinking is, if it's already happening, they might as well get a piece of the pie and, theoretically, keep things somewhat regulated.
Sportradar reckons a whopping $10.7 billion (yes, *billion*) has been wagered on *League of Legends* esports alone, with 70% of those bets happening on dodgy, unregulated sites. Bloody hell, that's a lot of digital coin being tossed around in the shadows. So Riot's reasoning? If the betting's going to happen regardless, they want to bring it into the light, get their cut, and try to keep things above board. Sounds reasonable...ish.
They're promising "guardrails," including vetting betting partners, mandating team integrity checks (bit rich considering recent scandals, eh?), and using the sponsorship cash to prop up their tier-two competitive scene (which, let's be honest, has been struggling harder than a bronze player against a diamond smurf). And, no betting ads on Riot-owned broadcasts, which is nice... but also kinda pointless when 40% of English-speaking *Worlds* viewership comes from co-streams who *won't* be barred from taking betting sponsorships. (As pointed out by esports charts.) So, anyone watching on a streamer's channel? Prepare for gambling ads.
But why now? Well, esports has always been a bit of a money pit. Everyone thought it would be the next big thing, raking in cash hand over fist, but the numbers just haven't added up. Remember the Overwatch League? Big hype, bigger collapse. And don't even get me started on the Covid boom that turned into a financial bust.
Teams haven't exactly been financial geniuses either, mostly hopping from one investment wallet to the next instead of figuring out how to generate their own stable income. When the private investors ran off the teams sought the Saudi Arabian government, but even that's not sustainable.
So, teams are desperate for cash, and betting companies have it in spades. (Or, you know, virtual wallets.) As Needham said, the teams have been pushing for this for years. Ultimately, it's a bit of a downer. Betting can be addictive and ruin lives. A UK government report showed that suicide rates were significantly higher among people with gambling problems. Let's hope Riot's "guardrails" actually do something to protect players and fans. It will be interesting to see if they have the teeth to pull it off.
Tags: League of Legends, Valorant, Esports, Betting, Riot Games
Original article: Eurogamer