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

Related News

Trump's EPA shifts more environmental enforcement to states

May 20, 2019

BOKOSHE, Okla. — A small town in Oklahoma is warning communities about the Trump administration's environmental policies. Residents of Bokoshe (bo-KOSH-eee) have been worried for years about coal-ash contamination from a power plant that burns the high-sulfur coal mined near the community southeast of Tulsa. Townspeople regard the Environmental Protection Agency as the only source of serious environmental enforcement. Now the EPA has approved Oklahoma to be the first state to take over enforcement on coal-ash sites. The EPA is delegating more enforcement to states. The administration says local officials know best how to deal with local problems. Critics say...

Hundreds protest Alabama's abortion ban at state capitol

May 20, 2019

MONTGOMERY, Ala. — Hundreds of demonstrators marched to the Alabama Capitol on Sunday to protest the state's newly approved abortion ban, chanting "my body, my choice!" and "vote them out!" The demonstration came three days after Gov. Kay Ivey signed the most stringent abortion law in the nation— making performing an abortion a felony in nearly all cases unless necessary for the mother's health. The law provides no exception for rape and incest. "Banning abortion does not stop abortion. It stops safe abortion," said Staci Fox, CEO and president of Planned Parenthood Southeast, addressing the cheering crowd outside the Alabama...

US to roll out economic part of Mideast peace plan

May 20, 2019

WASHINGTON — The Trump administration will unveil the first phase of its long-awaited blueprint for Mideast peace next month at a conference in the region designed to highlight economic benefits that could be reaped if the Israeli-Palestinian conflict is resolved, the White House said Sunday. The plan, which has been two years in the making, envisions large-scale investment and infrastructure work in the Palestinian territories. But the central political elements remain mostly unknown. And the economic workshop, June 25-26 in Bahrain, will not address the most contentious parts of the conflict: borders, the status of Jerusalem, Palestinian refugees and Israel's...

Saudis say they don't want war, but will defend themselves

May 20, 2019

DUBAI, United Arab Emirates — Saudi Arabia does not want war but will not hesitate to defend itself against Iran, a top Saudi diplomat said Sunday amid heightened tensions in the Persian Gulf after attacks on the kingdom's energy sector. Adel al-Jubeir, the minister of state for foreign affairs, spoke a week after four oil tankers— two of them Saudi— were targeted in an alleged act of sabotage off the coast of the United Arab Emirates and days after Iran-allied Yemeni rebels claimed a drone attack on a Saudi oil pipeline. "The kingdom of Saudi Arabia does not want war...

The Latest: Trump congratulates Morrison, reaffirms alliance

May 20, 2019

CANBERRA, Australia — The Latest on Australia's general election (all times local): 11:05 a.m. President Donald Trump has spoken by phone with Prime Minister Scott Morrison of Australia to congratulate him on his conservative coalition's surprise election victory. According to the White House, the two leaders reaffirmed the "critical importance" of the long-standing alliance and friendship between the United States and Australia, and they pledged to continue their close cooperation on shared priorities. Morrison's Liberal Partly has defied pre-election polls to clinch a third term in office. But the tight race for the 151-seat House of Representatives raises the prospect...

Broaden

The Expert Features reports on the issues and the world’s everyday news. Handled by experts in different niches, you will find different subjects and perspectives.

Contact us: sales[at]expertfeatures.com