making money for playing lol posssible?

Only if you're among the best players in the game and/or have qualities that make people want to watch you stream or upload videos.

So it's possible, but the odds are very, very poor.

Maybe if you’re on a pro team? Or if you make interesting streams.

It is possible, if you manage both streaming and youtubing. But you can see the trend that everybody is using overly exaggerated clickbait names and/or photoshoped fake thunbnails for league videos to attract viewers these days, and that in terms of streaming people have already long made up their minds on who they will typically watch; so while you CAN make money off playing League, but don't expect much, the market is saturated as it is.

Unless ofc, you manage to get into pro tournaments to win the prize pool, then it's a different question.

Become a female (if you are one already that's a bonus), shove some fruits in your bra (scale up the size for better results), and enjoy the mad cash :)