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 The Buzz Reporters

Records detail frenetic effort to bury stories about Trump

Jul 19, 2019

NEW YORK — Court records released Thursday show that President Donald Trump took part in a flurry of phone calls in the weeks before the 2016 election as his close aides and allies scrambled to pay porn star Stormy Daniels to keep quiet about an alleged affair. The documents detailing calls and text messages were made public as federal prosecutors closed their investigation into the payoff — and a similar payment to Playboy model Karen McDougal — with no plans to charge anyone in the scandal beyond Trump's former lawyer and fixer, Michael Cohen. Federal prosecutors in New York said...

Jerry Seinfeld learns from comedy's best on Netflix series

Jul 19, 2019

BEVERLY HILLS, Calif. — Jerry Seinfeld says he'd rather ride classic cars and sip coffee with comedy's best than reboot his uber-successful "Seinfeld" television series. Seinfeld said in an interview Wednesday night that bringing back his eponymous sitcom that recently celebrated its 30-year anniversary would be "egomaniacal." The comedian says he is focused on learning more about the "sharpest minds in comedy" through his Netflix series "Comedians in Cars Getting Coffee." The 11th season premieres Friday on the streaming service featuring Eddie Murphy. The season also includes other comedians including Jamie Foxx, Martin Short, Rick Gervais, Bridget Everett and more....

Rapper YG's home searched after deputy-involved shooting

Jul 19, 2019

LOS ANGELES — Authorities searched the Los Angeles-area home of rapper YG on Thursday in connection with a police shooting in Compton that killed a bystander earlier this month. Deputy Marvin Crowder, a spokesman for the Los Angeles Sheriff's Department, said the rapper, whose real name is Keenon Jackson, has not been implicated in the shooting and was not home at the time of the search Thursday. Crowder said several people were detained Thursday at the Hollywood Hills home but none has been arrested. The fatal shooting occurred July 3 after deputies tried to pull over a Cadillac Escalade —...

Hollywood celebrities open wallets to Buttigieg's campaign

Jul 19, 2019

WASHINGTON — A-list celebrities seem to be opening their hearts — or at least their wallets — to Pete Buttigieg. The South Bend, Indiana, mayor was a virtual unknown months ago. But he used breakout town hall performances, viral moments and his biography as a millennial, gay military veteran and a former Rhodes scholar to get the attention of the entertainment industry and rake in cash. Among the more than 50 celebrities who gave Buttigieg money during the second quarter are rocker Joan Jett ($150), recording industry mogul David Geffen ($5,600), fashion icon Anna Wintour ($2,800), designer Tom Ford ($5,600),...

Sally Field, 'Sesame Street' to receive Kennedy Center award

Jul 19, 2019

WASHINGTON — Actress Sally Field and the long-running children's TV show "Sesame Street" are in the latest class of Kennedy Center Honors recipients. Others chosen to receive the award for lifetime achievement in the arts include singer Linda Ronstadt, conductor Michael Tilson Thomas and the band Earth, Wind and Fire. The co-founders of "Sesame Street," Joan Ganz Cooney and Lloyd Morrisett, will accept the award on behalf of the show. The 42nd annual Kennedy Center Honors Gala will be held Dec. 7. The presenters and performers are usually kept secret from the honorees until the show. The event will be...

Sign up now!