Chinese Investors Back GPL To Succeed In Chinese Poker Market

Chinese Investors Back GPL To Succeed In Chinese Poker Market November 9, 2016 November 9, 2016 Tim Glocks
Posted on  Nov 9, 2016 | Updated on  Nov 9, 2016 by Tim Glocks

Global Poker LeagueInvestors in China are betting that poker will be one of the non-traditional sports that is likely to take off in the country.

Ceyuan Capital based out of Beijing and Head and Shoulders Capital based in Hong Kong are among those who have invested US$4.9 million into Alex Dreyfus’ Mediarex Sports and Entertainment.

The company’s goal is to sportify poker and popularize it with the younger generation that is largely attracted to eSports.

Mediarex earlier this year launched the Global Poker League (GPL) to freshen the appeal of poker. The GPL started with 12 league teams battling for ultimate honors in an innovative format and Dreyfus hopes that it will reach the status and popularity of the NBA or UEFA Champions League worldwide.

Global Poker Index

Both Dreyfus and his Chinese investors are confident that the game of poker will soon become a mainstream game in the Chinese market.

In a statement Dreyfus said,

Texas hold’em is not part of the cultural roots of Chinabut this has changed in the last few years thanks to the introduction of free poker applications on mobile phones .Therefore, you have new generations of white-collar, educated and influential individuals that love the game and play regularly

Claiming that nearly 100 million Chinese have downloaded mobile games, Dreyfus believes that the market is ready for growth. He also pointed out that poker is a game of skill that involves mathematics and statistics. With the Chinese renowned for their expertise in these areas, he said that they have the potential to dominate the game.

One of the investors into Dreyfus’s company Head and Shoulders is owned by Stanley Choi, who is among the top Asian poker players having won one of the biggest payouts of all time, which was US$6.4 million in a Macau tournament in 2012.

Another Chinese company working on the push for poker is Sina Sports, a media firm that is also Mediarex’s official digital media partner. The company intends to develop a dedicated channel having customized content to educate the Chinese on the game. The company is also planning to create a mainland league with local teams.

Several attempts to turn poker into a sporting event in China have failed earlier. Bur Dreyfus and his investors believe that the timing is now right for the GPL, given the rapid penetration of mobile phones and increasing popularity of live streaming .

Tim GlocksAuthor

Tim Glocks is a retired professor, he currently contributes to Tim enjoys playing poker and has taken it up as a hobby since his retirement. He has taken part in many online tournaments and has become a veteran in a short space of time. Visit Tim’s google + page here