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The announcement came straight from the President of Publishing & Esports at Riot Games, John Needham.
Betting sponsorships for League of Legends and VALORANT teams
Needham acknowledged that fans may have strong opinions about sports betting and that they respect it. “However, the reality is thatbetting activity already exists around our sportsand will continue whether we engage with it or not,” said Riot. They also disclosed that LoL Esports and VCT reached a total betting turnover of $10.7 billion last year, according to Sportradar. Instead of letting unregulated markets and bookmakers continue, Riot thought it was better to engage with them in a more official capacity.
He said that Riot will put all potential sports betting partners under a microscope before approving them. “It’s important to us to bring the same razor of scrutiny to all betting brands interested in our teams.”
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