Gen.G’s status as the pre-tournament favorite, anchored by Chovy’s elite laning and consistent statistical dominance in LCK playoffs, underpins the market’s tight clustering around 10-15% for the leading names. Ruler and Canyon benefit from the same roster synergy and recent title-winning form, while Knight, Zeka, Peyz, and Xun draw support from strong LPL and LCK squads with realistic paths to the grand final. Because the award hinges on standout individual play in a single best-of-five rather than season-long metrics, traders price in substantial uncertainty across more than 50 candidates; any team reaching the final can produce an MVP depending on patch, draft, and series momentum. This dynamic keeps implied probabilities bunched despite Gen.G’s edge.