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

The Latest: UK rejects Iranian position on tanker seizure

Jul 20, 2019

TEHRAN, Iran — The Latest on developments related to tensions between the U.S. and Iran (all times local): 9:20 p.m. Britain's foreign secretary says he rejects Iran's attempt to link its seizure of a British-flagged tanker to a July 4 incident in which British marines helped take control of an Iranian tanker off Gibraltar. Jeremy Hunt said Saturday afternoon that Britain's action against the Grace 1 supertanker was legal because it involved the enforcement of international sanctions against Syria since the crude oil on board was bound for that country. In contrast, he says, Iran had no legal justification for...

Iran says British tanker seized because of collision

Jul 20, 2019

TEHRAN, Iran — Iran's seizure of a British-flagged oil tanker was allegedly due to a collision with an Iranian fishing boat, the country's state-run IRNA news agency said Saturday. The British tanker reportedly caused damage to the fishing boat, then didn't respond to calls from the smaller craft. The fishing boat informed Iran's Ports and Maritime Organization, which notified the Revolutionary Guard. IRNA reported that the Revolutionary Guard vessels directed the Stena Impero to an Iranian port for an investigation Friday, and that the crew remained on board the ship as per safety regulations. Iran's attempt to offer a "technical"...

Technology, temporary help keeps farmers on job longer

Jul 20, 2019

ALEXANDRIA, Ind. — Assistive technology, help from seasonal hires and family members, and a general improvement in the health of U.S. seniors in recent decades have helped farmers remain productive and stay on the job well into their 60s, 70s and beyond. In the U.S. last year, the median age for domestic farmers, ranchers and other agricultural managers was 56.4 years old. That's the highest median age of any major occupation tracked by the government's Current Population Survey for which data was available. Experts worry that without the older farmers, there might not be enough people interested in agriculture to...

Japan vows action if S. Korea hurts companies in trade row

Jul 20, 2019

TOKYO — Japan's foreign minister said Tokyo will take "necessary measures" against South Korea if interests of Japanese companies are harmed in an escalating dispute over World War II forced labor. The neighboring countries and U.S. allies are quarreling over South Korean court decisions ordering Japanese companies to compensate victims of forced labor during Japan's 1910-1945 colonial rule of the Korean Peninsula. Foreign Minister Taro Kono said Friday after summoning South Korean Ambassador Nam Gwan-pyo that Tokyo is prepared to take "necessary measures" to protect the interest of Japanese companies, without giving details. Their talks were held in an icy...

Service resuming after 7 New York City subway lines stopped

Jul 20, 2019

NEW YORK — About a third of New York City's subway lines were suspended for more than an hour during a hot Friday evening commute, stranding some passengers underground and sending others searching for alternate ways home. The stoppage affected the No. 1, 2, 3, 4, 5 and 6 trains that serve swaths of Manhattan, the Bronx and Brooklyn. It also halted the S shuttle train that links Grand Central Terminal and Times Square — two of the city's busiest stations. The Metropolitan Transportation Authority warned that there would still be "extensive delays" in the system, which serves more than...

Search

Deck Biz is an intelligent platform providing international and regional business news updates. You won’t get these insights elsewhere other than Deck Biz.

Contact us: sales@deckbiz.com