Blockchain May Break The Traditional Horse Racing Industry

The Hong Kong Jockey Club has confirmed its first historic mainland China race meeting at Conghua Racecourse in China will take place on Saturday, 23rd March 2019 to provide a Hong Kong's world-class horse racing experience for people in Mainland China.

 (Photo Credit: Kenneth Chan, SCMP)

Five exhibition races, in total, will be run under the governance of rules of racing of the Hong Kong Jockey Club, with the participation of only Hong Kong-based horses, trainers and jockeys. On these exhibition races, all of the sampling, laboratory analysis, veterinary regulation and other controls in place will be based on a Hong Kong-standard.

 

Due to the regulations and policies in Mainland China, for this exhibition raceday, the Hong Kong Jockey Club will not provide gambling arrangements. The events will not be live broadcast. The broadcast of each race to Hong Kong will be a 15 minutes delay and one-hour delay for designated medias in the Mainland China.

 

“This is a historical step forward for China’s horse racing development after its official announcement to develop horse racing industry in Hainan.” Said Mr. Liao Yizhen, RacingLand Committee Member, “The development of China’s horse racing has been gone through a very tough journey, and today, we see the dawn this growing industry. Both China’s and overseas’ companies, organizations had already gotten ready to join this revolutionary development.”

 

“RacingLand has also started it footprint in China in Q4 2018, seeking for more partnership regionally. With a team of horse racing professionals, we are targeting to contribute our efforts in this new market by bring successful experience and help China’s horse lovers to get connected with the global market.” Liao added.

 

In the near future, people in Mainland China will be much easier to engage in horse racing. However, the range and depth of engagement is still very limited if we cotunnite to follow the traditional horse racing path. From an international perspective, about 70-90% of the horse bets are returned to the lottery, 0-15% as taxes, 5%-10% as bonuses and stadium operating expenses. Judging from the size of the $30 billion annual bet of 100 million people in Japan, if China's horse is up to 500 billion yuan a year, then it can have a bonus of 250-500 billion yuan to encourage the horse owners to raise horses. The rewards that horse owners can get are not limited to this, horses with excellent performance on the field can charge high breeding fees and also can enjoy the benefits of horse appreciation.

 

Due to the limitation of cross-boundary transaction and communication, horse raising resources are mostly controlled by the upper class. However, this might change with the help of blockchain technology. RacingLand is a horse racing business based on the blockchain, which committed to creating the world’s first most transparent and open platform. There are multiple services provided on the platform that would create a horse racing eco system, including Horse Racing Media, Racing Ownership, Horse Exchange and Racing Game.

 

In addition, with the help of tokenized model, race tokens would be introduced onto the platform and would be known as “RACE”. With the implementation of these tokens, people can own a horse by purchasing the share using token and horse shareholders can also enjoy the benefits of sharing the bonuses of a race, tournament, as well as the appreciation of the horse. Here in RacingLand, owners or players can feel more at ease and engaged when using the platform and would also get the chance and experience to own their very own stallions and gain much joy during their period of ownership. 

 

For media enquiry and their recent activities, please contact RacingLand Team at pr@racingland.com.

Media Contact: 

Name: BT
Company: RacingLand
Email: pr@racingland.com

Hong Kong

Tweet

More News From digitalpressnetwork.com

Trump: G7 summit going 'very well' despite trade tensions

Aug 25, 2019

BIARRITZ, France — President Donald Trump disputed reports Sunday that he faces a tense reception from world leaders at the Group of Seven summit in France, as they meet amid mounting anxiety of a global economic slowdown. Trump is trying to use the summit to rally global leaders to do more to stimulate their economies, as fears rise it could soon affect the U.S. ahead of his re-election. But his counterparts, including British Prime Minister Boris Johnson are trying to convince him to back off his trade wars with China and other countries, which they see as contributing to the...

Luck announces retirement following Colts loss to Bears

Aug 25, 2019

INDIANAPOLIS — Andrew Luck watched one last game from the sideline Saturday. Then he said goodbye to the NFL. The Indianapolis Colts quarterback heard boos as he walked away from the field, then walked to the podium and made the surprise decision official. The oft-injured star is retiring at age 29. "I'm in pain, I'm still in pain. It's been four years of this pain, rehab cycle," Luck said. "It's a myriad of issues — calf strain, posterior ankle impingement, high ankle sprain. Part of my journey going forward will be figuring out how to feel better." Luck wasn't planning...

Cervelli sparks Braves to 9-5 win over Mets in Atlanta debut

Aug 25, 2019

NEW YORK — Just about every newcomer to the Atlanta Braves has made an immediate impact lately. Francisco Cervelli fit right in Saturday night. The newly signed catcher had three hits and three RBIs in his Atlanta debut, and the Braves beat the New York Mets 9-5 for their seventh straight victory. "He was excited about getting here — and it showed," Braves manager Brian Snitker said. Ronald Acuña Jr. hit a tiebreaking single in the eighth inning, and recent addition Billy Hamilton dashed home with another run on the play thanks to a mental lapse by Mets left fielder...

Vogt hits three-homer as Giants beat his former A's club

Aug 25, 2019

OAKLAND, Calif. — Stephen Vogt's three-run homer highlighted an eight-run eighth and broke it open against his former club, Kevin Pillar hit a tiebreaking, two-run double in San Francisco's biggest inning of 2019, and the Giants beat the surging Athletics 10-5 on Saturday night. Brandon Crawford homered in the fifth and hit an RBI single in the eighth, when San Francisco tied it on a wild pitch by A.J. Puk, before Pillar's double to right. Evan Longoria had RBI singles in the sixth and eighth off loser Yusmeiro Petit (3-3). Sam Coonrod (3-0) recorded two outs for the win. Marcus...

Dodgers beat Yankees 2-1 in matchup of baseball's best

Aug 25, 2019

LOS ANGELES — Kenley Jansen escaped a bases-loaded jam in a bizarre ninth inning that saw both managers on the field trying to figure out what happened, and the Los Angeles Dodgers held off the New York Yankees 2-1 Saturday. Jansen struck out Mike Tauchman and pinch-hitter Gary Sánchez to end a matchup between the teams with the best records in baseball. But it was the play right before that to load the bases that left most everyone in the ballpark wondering what was going on. There were runners at first and second with one out when Gio Urshela hit...

Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH