GPI Aim to Sportify Poker Receives $4.9 Million in Funding

The Global Poker Index (GPI) announced that private investors have anted up funds totaling $4.9 million that will go toward developing the game of poker as a sport.

GPI parent company Mediarex Sports & Entertainment issued a press release detailing the new round of funding that came from investors around the world, including Asia and Europe. The nearly $5 million investment has been set aside for the purpose of expanding GPI's reach in the world of poker and to "build new consumer, fan and player-facing experiences" with the goal of becoming "a commercial governing body for the sport of poker."

GPI's intent to sportify poker is the brainchild of company CEO Alex Dreyfus, who likens poker to other sports such as golf or tennis and believes that the game's growth can be huge if promoted correctly - as a sport.

“Poker is an old game, but a young industry," Dreyfus stated. "It’s a game that continues to grow too. We want poker to be more mainstream, to be more legit and to be bigger."

Despite the sentiments of some pros and observers that poker is dying, Dreyfus points to statistics that show the game is growing on a global scale. Live tournament entries increased by more than 9% in 2014 from the previous year.

Online poker's growth has been stunted by the lack of regulation in the U.S., as no new states have enacted legislation since 2013. But the lack of growth online in the U.S. does not hold true in other parts of the world where interest in the game is rising and some potential customer bases remain untapped.

"China will likely be the epicenter of the next poker boom and this time the boom looks to be powered by eSports, the video game, media and sports industries," Dreyfus added. "Thanks to our new investors we’ll be able to reach new strategic partnerships in China to help develop the sport of Poker there, creating a domino effect that has globally positive effects.”

The GPI has formed a number of partnerships with media in addition to becoming the authority on ranking players for the largest poker tours in the world. The company also controls the Hendon Mob database, where live tournament results of festivals and players are meticulously published soon after the events have been completed.

Those alliances and holdings are key to continued growth, with an aim of "aggregating the game’s currently fragmented audience" that is estimated to be over 100 million worldwide. To further pull that audience together, the GPI launched the live competition Global Poker Masters earlier this year and will roll out the Global Poker League in 2016. The GPL will be the very first professional league of poker.