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

Other Press Releases

Putin engineers shakeup that could keep him in power longer

Jun 6, 2020

MOSCOW — President Vladimir Putin engineered a surprise shakeup of Russia's leadership Wednesday, proposing changes to the constitution that could keep him in power well past the end of his term in 2024. Prime Minister Dmitry Medvedev resigned his post after Putin announced the proposed constitutional amendments. Putin kept his longtime ally in the Kremlin's leadership structure, appointing him to the newly created post of deputy head of the presidential Security Council. The shakeup sent shock waves through Russia's political elites who were left pondering what Putin's intentions were and speculating about future Cabinet appointments. Putin’s proposed constitutional reforms, announced...

Sultan Qaboos bin Said, who modernized Oman, dies at 79

Jun 6, 2020

DUBAI, United Arab Emirates — Oman’s Sultan Qaboos bin Said, the Mideast's longest-ruling monarch who seized power in a 1970 palace coup and pulled his Arabian sultanate into modernity while carefully balancing diplomatic ties between adversaries Iran and the U.S., has died. He was 79. The British-educated, reclusive sultan reformed a nation that was home to only three schools and harsh laws banning electricity, radios, eyeglasses and even umbrellas when he took the throne. Under his reign, Oman became known as a welcoming tourist destination and a key Mideast interlocutor, helping the U.S. free captives in Iran and Yemen and...

On streets of Tehran, relief for now at no wider conflict

Jun 6, 2020

TEHRAN, Iran — Iranian newspapers proclaimed the country's attack on U.S. forces in Iraq to be "a dark night for Americans," and Washington's "first admission of failure in history." On the bustling streets of Tehran, however, there was relief Thursday that neither side appeared primed for war. “War is not something like the ‘Call of Duty’ game," said Dara Shojaei, a 23-year-old architecture student. “It's not a game you can play to win. There's no winner.” But with the relief came some mixed feelings about how far Iran should go to avenge the killing of Revolutionary Guard Gen. Qassem Soleiman,...

Stocks rise as China confirms trade deal signing next week

Jun 6, 2020

NEW YORK — U.S stocks climbed in morning trading on Thursday as investors cheered confirmation from China that its top trade official will head to Washington next week to sign a preliminary trade deal. The “Phase 1” accord is the opening step on a possible path toward a broader agreement between the nations. President Donald Trump has said he will travel to Beijing after the initial signing to start the second stage of talks. Every major index is on track for a record as Wall Street distances itself from a bout of anxiety over the last week because of tensions...

Soleimani, a general who became Iran icon by targeting US

Jun 6, 2020

TEHRAN, Iran — For Iranians whose icons since the Islamic Revolution have been stern-faced clergy, Maj. Gen. Qassem Soleimani widely represented a figure of national resilience in the face of four decades of U.S. pressure. For the U.S. and Israel, he was a shadowy figure in command of Iran's proxy forces, responsible for fighters in Syria backing President Bashar Assad and for the deaths of American troops in Iraq. Solemani survived the horror of Iran’s long war in the 1980s with Iraq to take control of the Revolutionary Guard’s elite Quds Force, responsible for the Islamic Republic’s foreign campaigns. Relatively...

Broaden