Bookies see the China sports market to be in its preliminary stage. Even Jiang Lizhang, president of Spanish football club Granada CF, agrees. Although the market is big, there are still opportunities left untapped.
Lizhang believes that there’s a big market for the Chinese soccer league due to the citizens’ consumption power. Despite having a huge market, it is still at its infancy stage according to sports news reports. That’s why the nation still needs to attract more overseas investment into the China sports market. That way investors can share their knowledge and experience in managing professional sports teams.
According to sportsbook pay per head reports, the sports industry market in China can grow up to $470 billion by the year 2025. The country attracted significant sports events that include the 2021 Club World Cup. Also, China wants to be the host of the 2030 FIFA World Cup.
Growing China Sports Market
Jiang Lizchang founded Hope Group that is connected with various soccer teams in China, Italy, Spain, and Portugal. He told sports betting solution reporters that the group has a 2030 plan. Also, he believes FIFA wants China to be the host of the 2030 World Cup.
When reporters asked him about China’s chances of hosting the event, Lizchang said that the country has ten years to improve themselves. Also, he has high hopes that FIFA will choose China as the host in 2030.
In 2014, the Chinese government came out with a policy document known as Number 46. It has the blueprints for developing the most significant sporting industry by 2025. Also, Beijing hopes to have more active fan bases for local teams by that time.
At present, China doesn’t have any professional soccer fields. However, many local governments expressed their desire to have one. Money is not a problem, but local governments don’t have the expert workforce to maintain the facilities.
However, you can’t open a sportsbook in China. All types of gambling are illegal in the country. The only exemption is the casinos in Macau.