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 Daily Sports Club

Back on top: Nadal beats Djokovic for 9th Italian Open title

May 20, 2019

ROME — Rafael Nadal is right back where he wants to be. After losing in the semifinals of three straight clay-court tournaments, Nadal dominated for stretches against his longtime rival, Novak Djokovic, in a 6-0, 4-6, 6-1 win Sunday for a record-extending ninth Italian Open title. "You were asking for titles. Finally I have a title," Nadal told reporters. "Here we are. Important title, important moment." It marked the first time in an Open Era-record 54 meetings, and in their 142nd set against each other, that Nadal won a set against Djokovic without conceding a game — otherwise known as...

Kyrgios defaulted for throwing chair onto court in Rome

May 20, 2019

ROME — Nick Kyrgios walked off the court in a fit of rage after throwing a chair onto the red clay at the Italian Open and was defaulted Thursday from his second-round match. First, Kyrgios kicked a water bottle in his match against Norwegian qualifier Casper Ruud. Then he picked up a white chair and flung it onto the court with his right hand. Before he was defaulted, Kyrgios received a warning for ball abuse, then was docked a point for unsportsmanlike conduct and lost a game for more unsportsmanlike conduct. Kyrgios, who has a history of bad behavior, was...

Fans set police car on fire ahead of Italian cup final

May 20, 2019

ROME — A police car was set on fire as Lazio fans clashed with local authorities near the Stadio Olimpico before the Italian Cup final on Wednesday. Italian national news agency Ansa reported that the two policemen who were in the car at the time have been taken to hospital for smoke inhalation, while one also had an injury to his ear. Lazio fans also threw bottles, stones and other objects. Police responded with water cannons and tear gas. Two other police cars were also damaged while five fans were arrested. Police said two of them were arrested earlier in...

Lazio beats Atalanta 2-0 to win Italian Cup

May 20, 2019

ROME — Sergej Milinkovic-Savic scored moments after coming off the bench to lead Lazio to a 2-0 win over Atalanta in the Italian Cup final on Wednesday. Milinkovic-Savic, who was making his comeback from an injury, broke the deadlock in the 82nd minute by heading in a corner. Joaquin Correa doubled Lazio's lead following a counterattack in the final minute as Atalanta pressed for the equalizer. Marten de Roon had hit the post for Atalanta in the first half in an entertaining, high-tempo match. It was Simone Inzaghi's first Italian Cup victory as coach, having won the competition as a...

Italy's men are starting to matter in tennis like its women

May 20, 2019

ROME — After four decades of dormancy, male tennis players in Italy are finally showing signs of becoming as good as the women have been. Marco Cecchinato got things rolling by reaching the French Open semifinals last year — the first Italian man to reach the last four of a major since 1978. Fabio Fognini followed by becoming the first to win a Masters event by beating Rafael Nadal en route to the Monte Carlo title last month. And players like Matteo Berrettini and Lorenzo Sonego are in the process of breaking through, while teenagers Lorenzo Musetti and Jannik Sinner...

Search

About Us

From transfer news, tactical analysis to predictions, get only the best of the world of sports daily with Daily Sports Club.

Contact us: sales[at]dailysportsclub.com

Subscribe Now!