Sure thing, and bear with me because this might get a bit wild. So, Riot Games just decided to let betting companies sponsor its esports events. Yeah, they finally caved. You know, I read this blog post by John Needham, who’s like the big cheese over there in publishing and esports. He says it’s all about making the gaming world a little less like a dystopian future and a lot more sustainable. Something like that.
Anyway, now teams for League of Legends and Valorant can buddy up with gambling firms. Needham’s saying betting is already a thing in esports; it’s just like, totally rogue and wild west-esque. So, might as well join the party, right? But they’re promising some ‘guardrails’—which, to me, sounds like safety rails on a roller coaster that’s seen better days. You know, like vetting these sponsors and giving teams a good ol’ integrity pat-down.
He gets it, though, not everyone’s gonna be throwing confetti over this betting thing. Some fans are probably flipping tables (metaphorically… or maybe literally, who knows). But the secret’s out: betting’s happening whether Riot’s on the guest list or not.
And here’s a fun tidbit: up until now, betting companies couldn’t lay a finger on Riot’s sponsorship list. Teams have been naggin’ on this for ages, and whaddaya know, after crunching numbers and some deep contemplation, they’re like, “Why not? More moolah for everyone!”
Sports betting’s like that one weird uncle at family gatherings—more folks are gathering around him every year. According to a report from Sportradar, betting turnover just from LoL Esports and VCT hit $10.7 billion in 2024. Yeah, you read that right, billion with a ‘b.’ But here’s the sticky part: 70% of those bets come from shady, unregulated bookies.
Riot thinks it’s wiser to engage and make sure everything’s above board rather than watching from the sidelines while things get even messier. I mean, maybe they’re right. Or maybe we all just love a good gamble, eh? Who’s to say?
