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

Indonesia jails Polish tourist who met Papuan activists

May 20, 2019

JAKARTA, Indonesia — A Polish tourist who was sentenced Thursday to five years in prison in Indonesia for treason after meeting with Papuan independence supporters has denied any wrongdoing and said he was the victim of a show trial. Jakub Skrzypski was arrested in Wamena in the easternmost Papua region in August and accused of plotting against the Indonesian state. He said he will appeal the verdict. One of his lawyers, Latifah Anum Siregar, said Papuan student Simon Magal, who met Skrzypski and communicated with him on Facebook, was sentenced by the same court Thursday to four years in prison....

Abandon Jakarta: Indonesia again mulls plan for new capital

May 20, 2019

JAKARTA, Indonesia — Indonesia's decades-long discussion about building a new capital has inched forward after President Joko Widodo on Monday approved a long-term plan for the government to abandon overcrowded, sinking and polluted Jakarta. Widodo decided at a special Cabinet meeting to move the capital outside of Indonesia's most populous island, Java, said Planning Minister Bambang Brodjonegoro. It was one of three options discussed. The other alternatives were moving to a location near Jakarta or staying put and relocating all government buildings to a special zone around the presidential palace. The site for a possible new capital hasn't been announced,...

Indonesia's Widodo declares victory in presidential election

May 20, 2019

JAKARTA, Indonesia — Indonesian President Joko Widodo said Thursday he has won re-election after receiving an estimated 54% of the vote, backtracking on an earlier vow to wait for official results after his challenger made improbable claims of victory. Widodo, after meeting with parties in his coalition, told reporters that the leaders of Malaysia, Singapore, Turkey and numerous other nations have congratulated him on securing a second term. The vote estimate is based on so-called quick counts of a sample of polling stations by a dozen reputable survey organizations. Widodo said that 100% of sample polling stations have now been...

The Latest: Indonesian president says he won re-election

May 20, 2019

JAKARTA, Indonesia — The Latest on Indonesia's election (all times local): 6 p.m. Indonesian President Joko Widodo says he's the winner of the country's presidential election with preliminary results showing he received 54% of the vote. He told reporters about 20 leaders of nations from Southeast Asia and other regions have congratulated him on securing a second term. The vote estimate is based on so-called quick counts of a sample of polling stations by reputable survey organizations. He said that 100% of sample polling stations have now been counted or close to that. The quick counts have been accurate in...

Indonesia's Widodo set for 2nd term as president

May 20, 2019

JAKARTA, Indonesia — Indonesian President Joko Widodo has won a second five-year term, preliminary election results showed Wednesday, in a victory for moderation over the nationalistic rhetoric of his rival, Prabowo Subianto. Vote counts from five independent survey groups showed Widodo with a clear lead over Subianto, a general during the era of the Suharto military dictatorship who warned Indonesia would fall apart without his strongman leadership. The so-called "quick counts" from reputable survey organizations that use a sample of polling stations have been reliable in past elections. With an average of 80% of sample polling stations counted, the five...