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 24-7 Reporters

Ukrainian leader felt Trump pressure before taking office

May 25, 2020

KYIV, Ukraine — More than two months before the phone call that launched the impeachment inquiry into President Donald Trump, Ukraine's newly elected leader was already worried about pressure from the U.S. president to investigate his Democratic rival Joe Biden. Volodymyr Zelenskiy gathered a small group of advisers on May 7 in Kyiv for a meeting that was supposed to be about his nation's energy needs. Instead, the group spent most of the three-hour discussion talking about how to navigate the insistence from Trump and his personal lawyer Rudy Giuliani for a probe and how to avoid becoming entangled in...

Europe's specialty food makers brace for US tariffs

May 25, 2020

MILAN — European producers of premium specialty agricultural products like French wine, Italian Parmesan and Spanish olives are facing a U.S. tariff hike due Friday with a mix of trepidation and indignation at being dragged into a trade war they feel they have little to do with. The tariffs on $7.5 billion on a range of European goods were approved by the World Trade Organization as compensation for illegal EU subsidies to plane maker Airbus. The U.S. has some leeway in deciding what goods it puts tariffs on. So while it is taxing European aircraft goods an extra 10%, it...

The Latest: British govt insists there is Brexit progress

May 25, 2020

BRUSSELS — The Latest on Britain's plans to leave the European Union (all times local): 10 a.m. The British government says talks with the European Union are making progress, despite the lack of a breakthrough overnight. Prime Minister Boris Johnson's office says talks are resuming Wednesday after a "constructive" session that lasted late into the night in Brussels. Johnson is eager to strike a deal at an EU summit starting Thursday so the U.K. can leave the bloc in good order on the scheduled date of Oct. 31. But both sides say gaps remain over plans for maintaining an open...

Bulgarian prime minister condemns soccer racism

May 25, 2020

SOFIA, Bulgaria — Bulgarian Prime Minister Boyko Borissov condemned the racist behavior of his country's soccer fans on Tuesday, a day after the national team played England in a European Championship qualifying match. Local fans made Nazi salutes and directed monkey noises at the black players on England's national team. England won 6-0, but the match was halted twice in an effort to stop the abuse. "It is unacceptable that Bulgaria, one of the most tolerant countries in the world where people of different ethnicities live in peace, to be associated with racism and xenophobia," Borissov wrote in a post...

Kosovo election winner in no rush to restart Serbia talks

May 25, 2020

PRISTINA, Kosovo — A left-wing party leader poised to become Kosovo's next prime minister said Tuesday he isn't in any rush to restart formal talks intended to normalize relations with Serbia and won't lift the previous government's 100% tariff on Serb imports. In a general election held Sunday, Albin Kurti's Movement for Self-the Determination, or Vetevendosje, defeated center-right political groupings formed by former Kosovo Liberation Army fighters who had governed since 2007. Kosovo, a former Serbian province, declared independence in 2008, a decade after an insurrection by KLA fighters and Serbian strongman Slobodan Milosevic's bloody crackdown launched a 1998-99 war....

Sign up now!

About Us

24-7 Reporters publishes up-to-the-minute news 24 hours a day, 7 days a week. Our certified reporters are among the most experienced, well-trained and talented across the globe, covering issues resonating progressives in every corner of the world.

Contact us: sales[at]24-7reporters.com