The Turkish esports news outlet Esporkolek recently claimed that Riot Games would soon make it practical for Valorant teams to have gambling sponsors in the future. This claim was made in the recent past. Two additional journalists have come forward to indicate that executives from Riot have refuted the claim made in the essay. Esporkolik published a report on the 15th of March stating that it is possible that Valorant teams would be allowed to have gambling sponsors in the near future. This will provide specific groups experiencing financial trouble with another opportunity to generate income for their organization.
In the past, gambling companies have provided financial support to esports tournament organizers as well as individual teams competing in games like CS:GO and Dota 2. Nevertheless, according to the regulations outlined in the worldwide rules for the VCT, betting companies are not allowed to support Valorant teams. Additional products that cannot be sponsored include alcoholic beverages, prescription medications, and firearms.
It is against the rules for tournament organizers in the Valorant sector to solicit sponsorship from gaming firms. Fans were left in a state of understandable confusion after reading the initial report regarding Riot’s adjustment in direction.
In the future, Valorant teams won’t have any sponsors from the gaming industry
Nevertheless, independent journalist Max Katz refuted the report after the initial news was published. He mentioned that a Riot Games representative had given him a statement saying that there had been no modifications to the sponsorship categories of the company. Katz made this observation after the initial report had already been published. George Geddes, a journalist for Dot Esports, claimed that he was also given the exact statement, which he believed validated Katz’s results. Geddes said Katz gave him the information.
Riot Games previously collaborated with the defunct cryptocurrency exchange FTX on the League of Legends Championship Series. FTX has since gone out of business (LCS). TSM, one of the LCS organizations at the time, was permitted to take part in the activity despite the fact that the rules stated that organizations were not allowed to associate with unregulated financial institutions or markets. Despite this, the laws did not prohibit TSM from taking part in the activity.
In the period that has passed since the failure of the company, FTX, TSM, and Riot have made steps to distance themselves from their former affiliation with the company. Riot Games has not yet stated in response to the report, but one is anticipated from them in the near future.