Logging in
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Start Streamlabs OBS. If you are not signed in, you will be greeted with this:
Sign into the desire platform you will be using. If you are streaming to youtube, log into your Youtube account. Same for Twitch.
For this example we will sign into youtube since park goes through two different sign ins
When asked if you would like Streamlabs to access your Youtube settings and stream key, click "OK"
In this example, after signing in, it lets me know my scenes are being imported from the cloud from this account so just proceed:
Interface
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We are now at the interface which is very simplistic, I will go through each area and how they function.
Dashboard, Themes, Editor and Live
In the top left red circled area are the 4 different views within StreamLabs.
Dashboard: Allows you to manage core parts of your stream from a backend perspective by installing new custom overlays, widgets, Alerts, customize sounds, ect.
Themes: Where you can find custom themes for your Stream, go to streamlabs.com and sign in to take a look but don't recommend it.
Editor: Change scenes which your viewers will see whatever is selected, allows you to also add new sources and change audio settings. This will have its own section explaining the areas of the Editor.
Live: Shows new alerts such as new subscribers, donations, sales in the merch store, ect. This is helpful for calling out new subscribers which will be a big deal for regular streaming.
As you can see, Editor and Live is where you will spend most of your time.
Options
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Here we will list the current options I have set for the Parkade Battlegrounds as we know it works and anyone in the Park network can view the stream. We can set the quality higher but this can be limiting for some users who don't have the internet speed to watch at the highest quality.
If by the time of this writing we become Twitch Partnered, then users will have options to lower down the quality of the stream on their own to avoid buffering issues.
General: Not much to touch here unless you have bizarre issues in which you can clear the Cache and Restart which can reset a lot of settings, do it if you can't figure anything out and need to start over.
Screenshot: 
Next is Stream: Here is where we can set the server, the service we are using (ie, Twitch, Youtube) as well as being able to change the Stream Key.
Stream key is crucial in this area, if the key doesn't match the service such as Youtube in this instance, then hitting Go live will start the stream but the actual stream isn't going anywhere. Meaning if you go to Youtube to your stream nothing is happening. Double check your stream key every time before you start your stream, and reset it if you accidentally reveal it even for a second because people can then hijack your stream by simply copying the same key. So keep it confidential. You can find the streamkey at your hosted platform's website. Twitch ahs theirs located in your account dashboard. Youtube is similar in its Streaming Live area.
Output: Handles the Bitrate (amount of data is sent to your stream, the higher, the better quality but that means the more your viewers need to download and the more you need to upload so you need to keep a balance. For reference use Twitch's guide and do your speedtests to figure out your network speed: https://stream.twitch.tv/encoding/
Our settings: For 1080p 60fps
Audio: Alright, Audio at the simple point. You do not need to touch besides double checking what your default audio device is. For Windows 10 do the following:
1: Right click speaker in bottom right corner of your desktop
2: Click "Sounds"
3: Click the tab that says "Recording Devices"
4: Select the device you want to use for your microphone. In our case it should be Blue Yeti USB.
5: Click "Make Default"
6: Go to Playback Devices, this list your speakers from where sound should be coming from. For our computers its generally Logitech Headset but could be your computer speakers built into a laptop (keep that volume low for your viewers to not here it through the mic.)
After that, do not touch the Audio options in Streamlabs
Video: This settings is all about what resolution you are outputting from your screen to the stream. If your native monitor is a resolution of 1920x1080, then you output at that resolution or lower. Lower you set it, the more blurry or pixelated it will look. For Park's current powerhouse gaming machines, use the following settings, if users are having issues loading the stream or you need more performance, drop the resolution to 1280x720.
You must also keep in mind FPS. FPS is Frame Per Second, and thats how smooth the stream looks. 30 is best performance and you should use this if your computer isn't powerful enough to run 60 (How do you know? Just try it and see if it looks horrible and you experience frame drops or stuttering or buffering issues which could be related to your internet connection.
Our settings: 
Advanced: If you don't know what it does, don't touch it, google it first and get the understanding of what it is and what it does before touching. In this area, for our purposes, you will only touch Streaming Delay. League of Legends tournaments require a 5 minute delay, in game is 3 minutes and we need to delay stream for 2 minutes so type in 120 seconds:
There is no other options I can think of on needing to mess with. I may add more later.
Editor
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Alright so in Editor mode, you need to be selecting the correct scene you want your viewers to see. I won't go into detail on creating new scenes and I will dive a little into Sources.
Scenes: In Scenes, we have some basic 4 scenes to change in between depending on how you want to orchestrate the stream. If you are starting soon, click Stream Starting and Go Live. I recommend muting your microphone for this purpose and playing some music (royalty free/copyright free).
Once ready, click "In Game" to show your viewers the game. Read the Quick Start Guide for specifics because its a touchy subject when streaming League tournaments.
Sources: In Sources, this shows you items that viewers will see. From top to bottom is the order of what is in front in the Scene. If we look at In-Game Scene's sources, we got two of them: Game Capture and LoL Client (These are renameable for easier use)
Game Capture is self explanatory Source, it captures your game applications. It is at the top of the order because if the LoL Client is no longer the focus because game started, the Full Screen application of Game Capture will show League of Legends, see this example of the Client and Full Game of League of Legends