Publish Date: 28/04/2021
Fact checked by: Sophie McCarthy
Sports betting operator Pinnacle has announced the launch of their second ever esports tournament. They have always been innovators in the international betting scene, in fact they were the first international bookmaker to offer odds on esports events.
Their first esports tournament was focused on the FPS Counter Strike: Global Offensive, the second will be the MOBA title, DOTA 2.
For their second ever esports event, they are kicking it up a notch. For a non-official DOTA 2 tournament, the prize pool of $100,000 is pretty big. They have some teams from the top DOTA 2 from all across Europe to compete for the lions share of the prize pool.
The event will follow a standard format. The tournament, which begins on May 5th, will start with a 10-team round robin stage. Then it will move on to a double elimination bracket that is played in a best of three format. Two teams will be invited to the playoffs from the elimination bracket. They will join up with the teams that qualified during the round robin. At the end of the month, the top two teams will compete in the best of five final.
Pinnacle is a sport and sports betting site, they are planning to offer a wide range of betting options for the event. They are offering odds on both pre match and live betting options. This is a great chance for fans of European DOTA 2 teams to watch them in action.
Paris Smith, the Pinnacle CEO, spoke about the upcoming DOTA 2 tournament: “After a fantastic start to the Pinnacle Cup, we are delighted to carry on this series with RELOG Media, expanding further into the sports ecosystem. The heart of what we at Pinnacle is engaging with the sports community, and with the introduction of the Pinnacle Cup – Dota, we plan to further reinforce that connection with the wider sports audience.
“There is no better way for us to continue this journey, than branching out into Dota 2, where we can continue offering fans the best connection to their favorite sports teams and players. We are ambitious and excited for what this tournament will bring and look forward to continuously setting the standard for these types of event."
Milutin Pecic, Relog Media CEO also spoke about their desire to invest in the DOTA 2 community: “As passionate Dota 2 players at Relog Media, it's an absolute pleasure to dive into the Dota 2 community with Pinnacle alongside us. We hope this is just the start of our offerings to the competitive teams across the globe. Pinnacle's track record and success in sports just made it an easy decision for us to go forwards. We also had a ton of fun in the CSGO edition of The Pinnacle Cup.
For an online sports betting operator, Pinnacle has a very long history. It isn't often that a site that operates sports events has also been running for over two decades. They began back in 1998 and grew their market share by offering a reduced margin pricing model. Basically, what boils down to is offering their customers better odds than their competitors and dealing with the lower margins. From that move early in their career, it was clear that Pinnacle was interested in taking risks and investing in the future.
For esports fans, they were the first global bookmaker to offer odds on esports events. Over a decade ago, the site began offering odds on pro gaming events as an experiment to see how they could expand their audience. Well, the experiment definitely paid off and by 2017, they had helped their customers place over 5 million unique sports bets. Esports has now become one of the biggest sectors of growth for the operator and their investment in the events is a clear indication that they are willing to expand it.