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

Latest News

6 die in Indonesia riots; Widodo says he won't allow unrest

May 26, 2019

JAKARTA, Indonesia — Indonesian President Joko Widodo said authorities have the volatile situation in the country's capital under control after six people died Wednesday in riots by supporters of his losing rival in last month's presidential election. The clashes began Tuesday night when supporters of former Gen. Prabowo Subianto tried to force their way into the downtown offices of the election supervisory agency and have continued unabated since then. More than two dozen vehicles were burned as rioters took over neighborhoods in central Jakarta, throwing rocks and Molotov cocktails at police who responded with tear gas, water cannons and rubber...

US ambassador in China makes rare visit to Tibet

May 26, 2019

BEIJING — The U.S. ambassador to China is making a rare visit to Tibet to meet local officials and raise concerns about restrictions on Buddhist practices and the preservation of the Himalayan region's unique culture and language. The U.S. Embassy in Beijing said Terry Branstad is visiting the Tibetan Autonomous Region and neighboring Qinghai province from Sunday through Saturday. Qinghai is a traditionally Tibetan region also known as Amdo and the birthplace of the Dalai Lama, Tibet's exiled Buddhist leader. Branstad's visit will include official meetings along with visits to religious and cultural heritage sites, schools, and "other places of...

Boeing 737 Max 8 woes crimp Asian airlines' growth plans

May 26, 2019

SINGAPORE — Asian airlines are cutting routes, revamping their schedules and leasing extra aircraft to fill gaps left by the grounding of Boeing 737 Max 8s after deadly crashes in Indonesia and Ethiopia killed 346 people. So far, regional carriers have managed to avoid major disruptions, but analysts expect that idling the Max 8s, a fuel-efficient update of Boeing's popular 737, will crimp growth plans in the near future. As investigations into the crashes continue, Boeing anticipates a $1 billion increase in costs related to the 737 Max, including fixing software implicated in the disasters, adding pilot training and compensating...

Brunei death penalty moratorium applied to new Shariah laws

May 26, 2019

KUALA LUMPUR, Malaysia — Brunei's sultan has said a moratorium on capital punishment is in effect for new Shariah criminal laws including stoning people for gay sex and adultery that sparked an international outcry. The United Nations has called the laws implemented April 3 "draconian" while the U.S. and several other countries have urged Brunei to halt its plans. Celebrities including George Clooney, Elton John and Ellen DeGeneres have rallied for a boycott of nine hotels in the U.S. and Europe linked to Brunei. Even before 2014, homosexuality was already punishable in Brunei by a jail term of up to...

Thai king celebrates coronation with spectacular parade

May 26, 2019

BANGKOK — Thailand's newly crowned King Maha Vajiralongkorn made a spectacular public appearance in front of his countrymen Sunday, carried atop a golden palanquin by soldiers in ancient fighting uniforms in a procession through Bangkok's historic quarter. Hundreds of other soldiers marched in front, behind and alongside the palanquin in scorching heat as the procession set off from Bangkok's Grand Palace just after 5 p.m. with a marching band setting the pace. Also taking part in the slow parade were the prime minister and other senior officials in the military government as well as the king's wife, Queen Suthida, and...

Search for something?

Sign up now!