I'm just on here today to inform you all that NESL is opening a LoL division with a prize pool as high as $35,000 dollars for 2011. You might even make a name for yourself in the process. I really suggest you guys head to this link and grab your buddies, form a team, and sign up ASAP.
NESL has put together the chance for 8 of the top qualifying teams (and possibly more in the future) to play against some of the top LoL teams by region in the EU for a chance to win up as much as 5000 Euros. Qualifiers for this are beginning soon so sign up quick. And not only is that not the only event, there are others running to win up to $100 a week. What it comes down to is: You could easily make a sizeable bit of cash on LoL and settle some of that US vs EU rivalry that's been brewing as of late.
The exact date of the events can be seen here:
Sign up quick as there's a scrim night coming up for the Wednesday, February 9th to get better seeding in the qualifier brackets. It is open to anyone so you can take your shots at all those high ELO jerks you guys in ELO hell are always talking about.
The prize money of just the first event is about $7000 and that's just the first to come, there will be more in the future.