You’ve probably heard the term “lol” or “laugh-out-loud” before, but this is the kind of “LoL” you should be concerned about for 2020.
LoL or League of Legends is one of the most played and followed eSports video games on the competitive circuit and certainly one of the most profitable. Every year millions of dollars are invested into teams, who will compete for big bucks at the various events and tournaments running throughout the season.
The popularity of the game and the vast swathes of sponsors throwing money at players and gaming organizations haven’t gone unnoticed and the growth of the eSports industry has given rise to a huge eSports betting market.
Most of the major sportsbook providers are now posting eSports betting odds and betting markets, including live ‘in-play’ markets, which are gaining a lot of traction – not just with eSports fans, but also hardcore online bettors
LoL Leads the Way
A recent study carried out shows that real money LoL betting leads the pack, commanding 38% of the market. While this is very encouraging, many people are still put off by the lack of clarity regarding eSports betting and how the games work in general. But, simply put, placing a bet on eSports League of Legends games doesn’t have to be such a palaver.
Sportsbook users can now get updates on teams, detailed results and look into future predictions, giving them value in their eSports bets. LoL betting is no different from how an NBA fan reads up (on an almost daily basis) on how their team is performing and make an informed bet based on what they’ve read.
The developers of LoL, Riot Games, have been pioneers in the competitive eSports scene, creating an entire LoL universe that comes to life at the major events (Splits, IEM and then Mid-Season Invitational) and at the annual showdown between the top-flight teams – the League of Legends Worlds.
The LoL ‘Worlds’ event marks the end of the competitive season, at which point a winner is crowned. At present, the market is dominated by Asian teams, particularly China who now boast four A-tier teams, in the form of JD, Top Esports, Invictus Gaming and the reigning world champions Fun Plus Phoenix.
While it’s true the Chinese are staking a claim to being the country producing the best LoL talent in the world, legendary player and LoL icon Faker is still playing. He is currently the captain and Midlaner for SKT T1 Telecom, who were long thought to be the best team in the world – having won Worlds a record three times.
Europe & US to Follow
It’s in the U.S. and Europe, where we see the biggest development in the competitive League of Legends industry. Major hardware sponsors, as well as an array of food delivery companies, are sponsoring teams, profiting from streaming services through advertisements and success in competitions.
It appears the online betting industry has no intention of slowing down on their commitment to providing the best eSports betting markets possible. So, don’t let it pass you by and take advantage of this booming market today.