Alibaba Invests $1,5m in Sports Betting in China

Sports betting in China is highly dominated by Alibaba Group currently. A new cooperation was founded by Alibaba and Handnice Group, a Chinese digital sports data company. The reason of their partnership is a $1.5 million-worth investment in Leida Sports.

This partnership deal is expected to attract more cooperation in the industry of sports betting in China. Leida Sports, which operates as a sports data and information provides, will join Sports Craze, which is also an inland operator with over five million active customers.

Based on the new agreement, the two Chinese companies (Leida Sports & Sports Craze) will work together on supplying data and wide variety of content to other sports content services throughout the country.

Bright Future of Sports Betting in China

As the co-founder of Leida Sports highlighted, the merger will result in cultivating both, sporting data and games in the field of the European basketball and football leagues.

The investment manager of Alibaba Group also commented that the promising collaboration, emphasizing that Alibaba Group and Alisports will also develop a partnership with Leida Sports. He added, he is proud of being a part of the business between Leida Sports and Sports Craze.

Customers Benefit From the Joint Venture

From the customer side, the deal means the availability of several virtual sports games and a sportsbook via the joint network of Leida Sports & Sports Craze. Furthermore, apropos of the Chinese Super League domestic club football competition, new betting services are expected to be added. All of the services would be available on the mobile application of the new site along with plenty of other betting apps targeted the eSports sector.

Alibaba’s activity in the field of sports betting in China has started last year, when they established a collaboration with a media firm in order to create Ali Sports. Later, Alibaba managed to convince a Chinese video streaming company to support the project.