The League of Legends World Championships will be handing out over $2 million USD in prize money this year, a somewhat smaller amount compared to Valve's DOTA 2 The International Championships which raised over $10 million in funding.

Riot's World Championships will bring together 16 of the best League of Legends teams from around the globe to compete. Starting with the group stages on September 18, teams will begin fighting it out until only two remain. The two finalists will then play a best of five in Seoul, South Korea to determine the World Champions on October 19th.

Those who compete in the Group Stages will also receive some winnings. Fourth will take home $25,000 and third gets $45,000, while first and second advance on to the Quarterfinals. Should a tie arise between third and fourth, the winnings will be split with each taking home $35,000.