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 Weekly Rebound

AP source: Simmons, 76ers agree to $170 million, 5-year deal

Jul 16, 2019

PHILADELPHIA — The Philadelphia 76ers and star guard Ben Simmons have agreed to a $170 million, five-year contract extension, a person familiar with the situation told The Associated Press. The max deal is the latest big commitment by a team expected to make a serious push at its first NBA championship since 1983. Simmons, 22, will make about $8.1 million this season, the last of his four-year rookie deal. His salary for the next season will jump to about $29.3 million and rise to nearly $39 million in 2024-25, according to the person who spoke to the AP on condition...

Grizzles, Timberwolves advance to Summer League title game

Jul 16, 2019

LAS VEGAS — Brandon Clarke made a dunk with 10.7 left in overtime and the Memphis Grizzlies beat the New Orleans Pelicans 88-86 on Sunday in the NBA Summer League semifinals. The Grizzlies will face the Minnesota Timberwolves on Monday night in the title game. Minnesota beat Brooklyn 85-77 in the second semifinal. Clarke had 23 points — including four in overtime — and 14 rebounds to lead Memphis. Tyler Harvey, whose 3-pointer tied it in regulation, added 13 points, and Bruno Caboclo had 12. "We had some moments in the game today where we couldn't score, things weren't going...

Sun spoil Mercury star Taurasi's return from back injury

Jul 16, 2019

UNCASVILLE, Conn. — Alyssa Thomas had 20 points and 10 rebounds and the Connecticut Sun beat the Phoenix Mercury 79-64 on Friday night to spoil Diana Taurasi's season debut. Taurasi, the former UConn star and the WNBA's career scoring leader, played 16 minutes and scored five points —all from the free-throw line — in her first game since offseason back surgery. Connecticut (10-6), which outscored Phoenix by 21 points in the second half, had three players finish with a double-double for the third time in team history. Jonquel Jones had 13 points and 11 rebounds, and Courtney Williams added 10...

AP source: Russell Westbrook going to Rockets for Chris Paul

Jul 16, 2019

LAS VEGAS — Russell Westbrook and James Harden are together again, and Chris Paul is leaving Houston to make that reunion happen. A person with knowledge of the situation says the Oklahoma City Thunder have traded Westbrook to the Houston Rockets for Paul in a swapping of top point guards. The Thunder also are getting first-round picks in 2024 and 2026, plus the right to swap first-rounders in two other seasons, according to the person who spoke to The Associated Press on condition of anonymity Thursday because the trade has not been announced. ESPN first reported the agreement. Paul is...

Kawhi Leonard, Paul George officially join LA Clippers

Jul 16, 2019

LAS VEGAS — Paul George and Kawhi Leonard are now officially with the Los Angeles Clippers, moves that bring both of them back to their native Southern California. It might not be forever: Both can become free agents now in only two years. The Clippers completed their blockbuster trade with the Oklahoma City Thunder on Wednesday, acquiring George for guard Shai Gilgeous-Alexander, forward Danilo Gallinari and five first-round draft picks — along with the chance to swap draft places in two other years. "Paul George is one of the greatest two-way players in our game," Clippers President Lawrence Frank said....

Sign up now!