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

Latest News

Boeing 737 Max 8 woes crimp Asian airlines' growth plans

May 20, 2019

SINGAPORE — Asian airlines are cutting routes, revamping their schedules and leasing extra aircraft to fill gaps left by the grounding of Boeing 737 Max 8s after deadly crashes in Indonesia and Ethiopia killed 346 people. So far, regional carriers have managed to avoid major disruptions, but analysts expect that idling the Max 8s, a fuel-efficient update of Boeing's popular 737, will crimp growth plans in the near future. As investigations into the crashes continue, Boeing anticipates a $1 billion increase in costs related to the 737 Max, including fixing software implicated in the disasters, adding pilot training and compensating...

Thai king celebrates coronation with spectacular parade

May 20, 2019

BANGKOK — Thailand's newly crowned King Maha Vajiralongkorn made a spectacular public appearance in front of his countrymen Sunday, carried atop a golden palanquin by soldiers in ancient fighting uniforms in a procession through Bangkok's historic quarter. Hundreds of other soldiers marched in front, behind and alongside the palanquin in scorching heat as the procession set off from Bangkok's Grand Palace just after 5 p.m. with a marching band setting the pace. Also taking part in the slow parade were the prime minister and other senior officials in the military government as well as the king's wife, Queen Suthida, and...

Thai minister says envoys breached diplomatic etiquette

May 20, 2019

BANGKOK — Thailand's foreign minister said Tuesday that he will summon representatives from the embassies of the European Union and the United States to discuss why he believes they breached diplomatic etiquette by observing a Thai politician being charged with sedition by police. Foreign Minister Don Pramudwinai said that foreign countries are barred from closely observing internal procedures "not only by etiquette but also by rules and regulations that the whole world abides by." His remarks come after several countries sent envoys to observe a police proceeding at a Bangkok police station on Saturday where Thanathorn Juangroongruangkit, leader of a...

Brunei invokes laws allowing stoning for gay sex, adultery

May 20, 2019

SINGAPORE — New Islamic criminal laws that took effect Wednesday in Brunei that punish gay sex and adultery by stoning offenders to death have triggered an outcry from countries, rights groups and celebrities far beyond the tiny Southeast Asian nation's shores. The penalties were provided for under new sections of Brunei's Shariah Penal Code. Sultan Hassanal Bolkiah instituted the code in 2014 to bolster the influence of Islam in the oil-rich monarchy of around 430,000 people, two-thirds of whom are Muslim. Even before 2014, homosexuality was already punishable in Brunei by a jail term of up to 10 years. The...

Prosecutor says ex-Malaysian PM abused his 'absolute power'

May 20, 2019

KUALA LUMPUR, Malaysia — Former Malaysian Prime Minister Najib Razak sat in the dock Wednesday at the start of his corruption trial, with the chief prosecutor alleging he wielded "near absolute power" for nearly a decade during which he stands accused of pilfering millions of dollars from the 1MDB state investment fund. "The accused is not above the law and his prosecution and this trial should serve as precedents for all future holders of this august office," Attorney General Tommy Thomas said in his opening statement. The trial was originally due to start in February but was delayed by procedural...

Sign up now!