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 Lifestyle - The World Insiders

Solidarity march against anti-Semitism, acts of hate

Jun 7, 2020

NEW YORK — Throngs of demonstrators joined by elected officials walked solemnly across the Brooklyn Bridge in a solidarity march Sunday against anti-Semitism and all acts of hate. The “No Hate, No Fear" march was organized by New York's Jewish community in the wake of recent anti-Semitic attacks, including a knife attack at a Hanukkah celebration north of New York City that left five people wounded and a fatal shootout at a kosher grocery in Jersey City, New Jersey. The crowds of participants jammed the streets in lower Manhattan as they waited their turns to get across the bridge. “It...

3-2-1-Cookoff! Astronauts to bake cookies with new test oven

Jun 7, 2020

CAPE CANAVERAL, Fla. — Forget reheated, freeze-dried space grub. Astronauts are about to get a new test oven for baking chocolate chip cookies from scratch. The next delivery to the International Space Station — scheduled for liftoff this weekend — includes the Zero G Oven. Chocolate chip cookie dough is already up there, waiting to pop into this small electric oven designed for zero gravity. Sample cookies baked just this week are also launching from Virginia on Northrop Grumman's Cygnus capsule, for the six station astronauts. The experiment explores the possibility of making freshly baked items for space travelers. With...

Barrett falls vs Duke teammate Reddish, and Zion is next

Jun 7, 2020

NEW YORK — RJ Barrett kept misfiring, a rough start to his college reunion week at Madison Square Garden. Barrett did plenty of things well but not shooting, going 4 for 14 on Wednesday night in the New York Knicks' 100-96 loss to the Atlanta Hawks. Old teammate Cam Reddish left with a victory, but Barrett gets another chance for bragging rights among Duke rookies Friday, when Zion Williamson comes to town. Williamson, Barrett and Reddish were freshmen at Duke last season who went on to become top-10 NBA draft picks. Barrett, the No. 3 pick, and Reddish, taken 10th,...

Uber adds more services to its app in its quest for profit

Jun 7, 2020

SAN FRANCISCO — Uber is cramming more services into its ride-hailing app as it explores ways to generate more revenue and finally turn a profit. The makeover announced Thursday includes force-feeding its food delivery service, "Eats," into the Uber app that millions of people use to summon a ride. That means Uber users who don't already have the "Eats" app may now be asked whether they want to order some food in the ride-hailing app. Uber also will start making other changes to the ride-hailing app as part of its effort to create an "operating system for life," according to...

The Latest: British PM questions Thomas Cook bosses' pay

Jun 7, 2020

LONDON — The Latest on the collapse of British tour company Thomas Cook (all times local): 6 p.m. Prime Minister Boris Johnson says a "huge effort" is underway to bring home British tourists and passengers stranded by the sudden financial collapse of travel company Thomas Cook. He adds Monday that steps needed to be taken so "you don't end up with a situation where the taxpayer, where the state is having to step in and bring people home." Johnson asks "whether it's right that the directors and the board should pay themselves large sums when a company can go down...

About Us

The World Insiders brings you exclusive coverage from across the globe in a timely, easy to consume format sourced directly from our regional media partners.

Contact us: sales[at]theworldinsiders.com

Subscribe Now!