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 Malaysian Talks

Hong Kong's 'front line' protesters explain their stance

Aug 21, 2019

HONG KONG — On a recent sweltering Saturday, a day now reserved for protest in Hong Kong, a demonstrator named Wayne stepped past a row of plastic barricades, lifted a pair of binoculars and squinted. Four hundred meters away, a line of riot police stood with full-length shields, batons and tear-gas launchers. It was a familiar sight for Wayne after more than two months on the front lines of Hong Kong's turbulent pro-democracy demonstrations. Along with hard hats and homemade shields, face-offs with police have become part of the 33-year-old philosophy professor's new normal. The stories of Wayne and three...

Global shares mostly rise after Wall Street rally on Huawei

Aug 21, 2019

TOKYO — Global shares were mostly higher Tuesday after Wall Street rallied on the U.S. decision to give Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers. That decision appeared to inspire a buying mood among investors eager for any signs of progress in the trade war between the U.S. and China. France's CAC 40 added nearly 0.2% in early trading to 5,380.18, while Germany's DAX inched up nearly 0.1% to 11,723.98. Britain's FTSE 100 rose 0.2% to 7,205.60. U.S. shares were set to drift higher with Dow futures edging up 0.1% to 26,143. S&P 500...

Die-hard Hong Kong protesters defend tactics as unity cracks

Aug 21, 2019

HONG KONG — On a recent sweltering Saturday, a day now reserved for protest in Hong Kong, a demonstrator named Wayne stepped past a row of plastic barricades, lifted a pair of binoculars and squinted. Four hundred meters away, a line of riot police stood with full-length shields, batons and tear-gas launchers. It was a familiar sight for Wayne after more than two months on the front lines of Hong Kong's pro-democracy demonstrations. Face-offs with police have become part of the 33-year-old philosophy professor's new normal. The stories of Wayne and three other self-described "front line" protesters interviewed by The...

Chinese pop stars publicly back Beijing on Hong Kong

Aug 21, 2019

HONG KONG — At least eight pop stars from mainland China and one each from Taiwan and Hong Kong are publicly stating their support for Beijing's one-China policy, eliciting a mixture of disappointment and understanding from fans. Many of the statements came after protesters opposed to Beijing's growing influence over semi-autonomous Hong Kong removed a Chinese flag and tossed it into Victoria Harbour earlier this month. Lay Zhang, Jackson Wang, Lai Kuan-lin and Victoria Song were among the K-pop singers who recently uploaded a Chinese flag and declared themselves as "one of 1.4 billion guardians of the Chinese flag" on...

Protesters burn parliament building in Indonesia's Papua

Aug 21, 2019

MANOKWARI, Indonesia — Thousands of people in Indonesia's West Papua province set fire to a local parliament building on Monday in a protest sparked by accusations that security forces had arrested and insulted students from neighboring Papua province, officials said. The angry mob torched the building and set fire to cars and tires on several blocked roads leading to a seaport, shopping centers and offices in Manokwari, the capital of West Papua province, Vice Gov. Mohammad Lakotani said. "The city's economy has been paralyzed by the demonstrators," Lakotani said. "Negotiations between protesters and the authorities are currently underway to end...