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

Venice Biennale invites heavy thinking on political issues

May 20, 2019

VENICE, Italy — Fake news. Migration. Poverty. Global warming. Armed conflict. Political issues that excite newsprint, the airwaves and social media are getting a very open airing at the 58th Venice Biennale contemporary art fair, like so much laundry hung out to dry in the lagoon breeze. American curator Ralph Rugoff, director of London's Hayward Gallery, titled the main exhibition "May You Live in Interesting Times," which opens Saturday and runs through Nov. 24. The title is itself an exemplary piece of fake news, delivered by a British lawmaker as Europe hurled toward World War II as an ancient Chinese...

TV star Zelenskiy officially named new Ukrainian president

May 20, 2019

KIEV, Ukraine — Election authorities in Ukraine have officially named TV star and comedian Volodymyr Zelenskiy as the country's new president. The Central Election Commission on Tuesday presented the official results of the April 21 vote, showing Zelenskiy beat incumbent President Petro Poroshenko by winning 73% of the vote. Zelenskiy has criticized election authorities for dragging their feet on naming him the official winner, which reduces his chances of disbanding the parliament. Zelenskiy will be able to call an early election in the parliament, which is currently dominated by the allies of the outgoing president, only if he is sworn...

Bottas takes pole in Azerbaijan after Leclerc crashes

May 20, 2019

BAKU, Azerbaijan — Valtteri Bottas qualified in pole position for the Azerbaijan Grand Prix on Saturday after Charles Leclerc's crash instigated one of the longest qualifying sessions in recent years. Bottas' last lap of the session was the best, 0.059 seconds ahead of teammate and championship leader Lewis Hamilton in a Mercedes 1-2. Sebastian Vettel was third for Ferrari, 0.302 off Bottas. Bottas showed great timing to get a slipstream down the long final straight. "I got a good tow on the last lap," Bottas said. "It's all about fine details and I hit the sweet spot." It was Bottas'...

Leclerc fastest as drain cover disrupts Azerbaijan practice

May 20, 2019

BAKU, Azerbaijan — Charles Leclerc and Ferrari led the way in practice for the Azerbaijan Grand Prix on Friday, after the day was disrupted when a loose drain cover wrecked George Russell's Williams. Leclerc set the fastest time of the day in the second session, beating his teammate Sebastian Vettel by 0.324 seconds. Championship leader Lewis Hamilton was third, 0.669 off the pace. The Baku circuit is widely believed to favor Ferrari over runaway series leader Mercedes, thanks to its mix of a long straight and slow corners. It's also a track where Leclerc tends to perform well. The Monaco...

AP PHOTOS: Designers turn plastic trash into treasures

May 20, 2019

MILAN — Scientists and environmentalists have long warned about the dangers of plastic pollution, especially now that plastic trash of all types is choking the world's rivers and oceans. High-end designers have responded by "upcycling" discarded objects into unique, desirable design pieces. One Milan art expert has launched an initiative dubbed Guiltless Plastic on the sidelines of Milan's premier Furniture Fair design showcase, commissioning one-of-a-kind pieces made by top designers from discarded plastic and hoping to inspire a wider movement. Gallerist Rossana Orlandi has curated an exhibition titled "RO Plastic — Master's Pieces" of original objects crafted from plastic trash...

Search News

Sign up now!