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

Innovative fashion designers lead the way on sustainability

May 25, 2020

LONDON — Innovative fashion designers are turning to such things as horseradish and nettles to make sustainable clothing and accessories to the delight of a growing number of buyers. While more consumers are paying closer attention to how the production of goods impacts the environment, old habits die hard. A buy-and-toss mentality persists despite a boost from celebrities helping to drive the upcycle and vintage movements. Actress Maggie Q, who created an activewear line from recycled fabrics, is among activists who see plenty of room for improvement. She says she feels "sick about fast fashion.'' "You hear people say, 'Well,...

Boris Johnson heads to UN, urging world to see beyond Brexit

May 25, 2020

LONDON — Prime Minister Boris Johnson is heading to the United Nations General Assembly in New York to argue that post-Brexit Britain will be a dynamic world power taking the lead on tackling climate change and an unstable Middle East. But Johnson will be dogged by Brexit throughout the three-day trip. He will hold talks with European Union leaders as he tries to persuade the bloc to give him a new withdrawal agreement. The EU says Britain hasn't come up with workable solutions to the two sides' big differences. Johnson is also set to meet President Donald Trump, hoping to...

Traffic around England's Port of Dover disrupted by protest

May 25, 2020

LONDON — Traffic around the Port of Dover, England's major sea connection with France, has been disrupted as a result of a protest by environmental activists. Activists from Extinction Rebellion said their protest around the port is intended to "highlight the vulnerability of the U.K.'s food supply in the face of the ecological and climate emergency." The four-hour protest was given the go-ahead by local authorities within certain limits and Extinction Rebellion insisted it would "not cause any disruption to vital supplies," such as medicines. Highways England urged travelers in a tweet to be aware of disruptions. Protesters also hung...

Oil price drops on hopes for quick recovery of Saudi output

May 25, 2020

LONDON — The price of oil is falling back further after the Saudi government said half of production that was knocked out by an attack over the weekend had already had been restored. Benchmark U.S. crude was down 42 cents to $58.92 per barrel in electronic trading Wednesday. The contract fell $3.56 on Tuesday. Brent crude, the international benchmark, fell 27 cents to $64.28 per barrel in London, having dropped $4.47 the previous session. The attack on oil producer Saudi Aramco's processing facility in Abqaiq saw crude surge more than 14% on Monday, about as much as it did when...

EU competition chief hints at new data rules for tech firms

May 25, 2020

LONDON — The European Union's powerful competition chief indicated Friday that she's looking at expanding regulations on personal data, dropping an initial hint about how she plans to use new powers against tech companies. Margrethe Vestager said that while Europeans have control over their own data through the EU's world-leading data privacy rules, they don't address problems stemming from the way companies use other people's data, "to draw conclusions about me or to undermine democracy." "So we may also need broader rules to make sure that the way companies collect and use data doesn't harm the fundamental values of our...

Sign up now!

About Us

Future Science Today reports on captivating developments in science, medicine, technology, and the world around us.

Contact us: sales[at]futuresciencetoday.com