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

Kenya patient free of Ebola, as Congo, Uganda fight outbreak

Jul 16, 2019

NAIROBI, Kenya — Kenya remains free from Ebola as test results show that a sick woman does not have the deadly hemorrhagic fever, while neighboring Uganda and Congo battle a stubborn outbreak of the disease. Kenya's Health Minister Sicily Kariuki Monday announced that a patient isolated at the Kericho County Referral Hospital does not have Ebola. "The results of tests carried out by the Kenya Medical Research Institute laboratories on the 36-year-old lady currently admitted in the isolation unit of the Kericho County Referral hospital have been confirmed to be negative for the Ebola virus disease and other hemorrhagic fevers,"...

Egypt demands Christie's halt auction of King Tut statue

Jul 16, 2019

CAIRO — Egypt has tried to halt the auction of a 3,000-year-old stone sculpture of the famed boy pharaoh Tutankhamun at Christie's in London, while the auction house said its sale was legal. The statue — a brown quartzite head depicting King Tut — is scheduled to be auctioned off in July, and could generate more than $5 million, according to Christie's. The artifact features King Tut's full mouth with slightly drooping lower lips and almond-shaped eyes. For many, King Tut is the ultimate symbol of ancient Egypt's glory. Howard Carter discovered the pharaoh's nearly intact tomb in 1922 in...

Egypt says ancient cemetery found at Giza famed pyramids

Jul 16, 2019

CAIRO — Egypt's Antiquities Ministry says archaeologists have uncovered part of an ancient cemetery near the country's famed pyramids on the Giza plateau just outside Cairo. Mostafa Waziri, secretary general of the Supreme Council of Antiquities, says Saturday the cemetery houses burial shafts and tombs of top officials and a fine limestone statue from the Old Kingdom's Fifth Dynasty (2465-2323 B.C.). Ashraf Mohi, the head of the Giza Plateau archaeological site, says scientists know that the cemetery had been reused extensively in the Late Period (664-332 B.C.), as archeologists found painted and decorated wooden anthropoid coffins, and wooden and clay...

AP Explains: Why this Ebola outbreak is a special challenge

Jul 16, 2019

JOHANNESBURG — More than 1,000 deaths have now been confirmed in eastern Congo's Ebola outbreak, the second-worst in history behind the West African one in 2014-16 that killed more than 11,300 people. Attacks on health workers are badly complicating efforts to contain one of the world's most notorious diseases. At least 85 have been wounded or killed since January. Here's a look at why the outbreak is especially challenging, even as a promising experimental vaccine is being used widely for the first time. Nervous health experts watch as the virus spreads in a dense, highly mobile population near the border...

New cyclone begins to make landfall in northern Mozambique

Jul 16, 2019

JOHANNESBURG — A powerful tropical cyclone began to make landfall on Thursday in Mozambique, just six weeks after Cyclone Idai devastated the central part of the country and left hundreds dead. Authorities carried out compulsory evacuations in cases where residents resisted warnings to flee. Cyclone Kenneth is expected to bring heavy rains and flooding to northeastern Mozambique, which was not hit by the earlier storm, and southern Tanzania, which told coastal residents to evacuate. The cyclone arrived in Mozambique north of the city of Pemba with maximum sustained winds of 220 kilometers (136 miles) per hour, the Joint Typhoon Warning...

About Us

Delivering news from all over the globe, StarJournal keeps you abreast with the greatest minds in science, be it researchers, theorists or even popularizers.

Contact us: sales[at]starjournals.com

Subscribe Now!