Homophobia is not a problem in league
In every community behavior discussion Riot likes to use the word homophobia as a reason to ban people, but apparently they aren't entirely aware of the meaning.
A phobia is a fear, and homophobia is a fear of homosexuals or homosexuality in general. Calling someone a "%%%" in chat is not an example of a fear of homosexuality. It may be insensitive, or not politically correct, but it certainly isn't a phobia.
Riot, call things what they are. Don't throw around buzz words that make things seem like something they are not. If you want to ban people for derogatory speech towards gays, go ahead, but be honest about it.