It is not a good idea.
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nostrabet.com
Riot Games believes that "constructing the future of esports suggests investing in a sustainable community, not just for today, but for the long run," Riot's president of publishing and esports John Needham said today, which's why the studio has decided to unlock to "wagering sponsorship chances" for Tier 1 League of Legends and Valorant groups in the US and EMEA.
" We understand sports betting isn't for everybody, and that some fans have strong feelings about it, and we respect that," Needham wrote in today's statement. "However, the truth is that betting activity already exists around our sports and will continue whether we engage with it or not.
" Historically, this has been a restricted sponsorship classification, and Riot has not engaged with wagering companies. Teams have asked us to reevaluate our stance, and after years of analysis to ensure we got it right, we agreed it was time to open this classification to create more profits chances for teams."
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There sure does seem to be a lot of cash on the table. Needham pointed out figures provided by "sports technology business" Sportradar saying the "overall wagering turnover" on League of Legends and Valorant esports hit $10.7 billion worldwide in 2024. But 70% of betting across all sports-not just esports-is made in unregulated markets with unlicensed bookmakers, and Riot figures it's much better for all involved if it relocates to permit betting sponsorships "thoughtfully, thoroughly, and with the right protections."
That means Riot needs to veterinarian and approve all possible wagering partners before they're enabled to form a relationship with a team