Payment Labs Featured on Esports Insider: Esports Prize Pools Are They Declining, and Why Are There Payment Issues?

Han Park, CEO of Payment Labs, recently sat down with Esports Insider for an article and podcast on the topic of the esports payment dilemma.

At its core, competition is the most important part of the esports ecosystem. Across a vast number of games, there are tournaments that range from grassroots to international events.

The goal of these events is to find out who the best players are in their discipline, whilst also engaging with the game’s fans and, from a business perspective, marketing the title as a result. 

However, one area that has always fascinated fans when it comes to events, particularly larger esports competitions, is the topic of prize pools. In some cases, there are also correlations made by the community between the size of the prize pool and the quality of the event. Million-dollar events garner media attention, often having notable sponsors and attracting major organizations to compete.

Whether it’s fair or not, prize pools are also used by the esports community as an indicator of an esports ecosystem’s health. When prize pools are increased, there is more optimism. When the prize pool is lowered or delayed there are concerns over the esports ecosystem’s health — hence the emergence of payment solutions like Payment Labs.

Read the full article here.

Listen to the podcast here.

Payment Labs is a global payments platform for esports businesses that accept payments and payout to prize winners, contractors and vendors. It is the #1 payout solution to distribute prize money in esports, created by esports veterans. Learn more about the solution here.

Reach out to the team to see how it works in action today!