8Bit Goldy Addresses Issue of Delayed Prize Pool Payments
In the rapidly growing esports industry, the number of tournaments being held has skyrocketed, with many event organizers focusing on games like Battlegrounds Mobile India (BGMI), Valorant, and Counter-Strike. The prize pools for these tournaments are substantial and play a significant role in fueling both the players’ and their organizations’ growth.
However, a recent issue has emerged with some tournament organizers not paying out the prize pool, even after several months since the end of the event. Lokesh “8Bit Goldy” Jain, Co-Owner of S8UL Esports, took to X (formerly Twitter) to express his disappointment and frustration with these organizers.
Disappointing to see few TOs blaming sponsors for delayed prize pools. Teams compete for fair rewards, not excuses. Even after 6-7 month and some more than a year . Transparency and accountability are crucial for the growth of esports. If we don’t receive the prize pools even…
— Lokesh jain (@8bit__goldy) January 12, 2024
In his post, 8Bit Goldy wrote:
“Disappointing to see few Tournament Organizers blaming sponsors for delayed prize pools. Teams compete for fair rewards, not excuses. Even after 6-7 months and some more than a year. Transparency and accountability are crucial for the growth of esports. If we don’t receive the prize pools even after so long, we will no longer participate in those tournaments organized by such Tournament Organizers. Next time it will be a direct call out by names. I see some of them are too active educating on various platforms. These people should first look in their own backyard and then educate others.”
Sharang “Sharkyy” Naiker, Founder and Managing Director of Reckoning Esports, also chimed in on the issue by adding:
“Imagine an org puts increments on the basis of how a team performs in tournaments and also allots bonuses towards the same. One of the major revenue sources for esports orgs in India is completely nullified by some Tournament Organizers who just love to talk endlessly about how they are building esports. I really wish people stop giving the [brand is delaying] excuse and stand true to what they commit. I know a few Tournament Organizers who actually share the prize pool even before the committed date, hopefully, others follow suit.”
This isn’t the first time an issue of delay in prize pool payments has occurred. In September 2023, Sushant “Ominous” Jha, Assistant Coach/Analyst of Bleed Esports, shared a post on X about Bleed Esports not receiving their prize money after winning the Skyesports SEA Championship, even 10 months after the event. Shiva Nandy, Founder and CEO of Skyesports, had responded stating that international payment challenges and multiple processes involved caused the delay.
As of now, 8Bit Goldy has not named specific tournament organizers responsible for the delayed payments but has urged for the issue to be resolved promptly, as it affects the integrity and growth of the esports industry.
Social handles for 8Bit_Goldy
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