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 stompthecity.com

Vettel ends 13-month winless run; Ferrari 1-2 at Singapore

Jun 4, 2020

SINGAPORE — Ferrari driver Sebastian Vettel took advantage of an early pit stop to win the Singapore Grand Prix on Sunday and end a 13-month winless streak in Formula One. Vettel, who started third on the grid, crossed the finish line 2.641 seconds ahead of Charles Leclerc — who was unhappy with team pit strategy — in a Ferrari 1-2. It was four-time F1 champion Vettel's first win since the 2018 Belgian Grand Prix. "Obviously the start of the season has been difficult for us but in recent weeks we started to come alive," Vettel said. "It's been incredible to...

Hamilton looking to extend F1 lead at Singapore Grand Prix

Jun 4, 2020

SINGAPORE — Lewis Hamilton aims to turn up the heat in his bid for a sixth Formula One championship at this weekend's Singapore Grand Prix. The Mercedes driver heads into Sunday's race with a 63-point lead over teammate Valtteri Bottas. As with last year's race, drivers can expect sweltering heat and humidity. In addition to the heat, a thick haze has set in over the city-state with advisories issued from the national government over "unhealthy" air conditions. Hamilton will be hoping for a repeat of the 2018 race here when he won comfortably from pole position to extend his championship...

Mother's voice pierces Malaysia jungle in search for girl

Jun 4, 2020

SEREMBAN, Malaysia — Malaysian rescuers stepped up their search Friday for a 15-year-old London girl who vanished from a nature resort six days ago by playing voice recordings of her mother and brought in members of an elite commando force as they combed the hilly forest terrain. "Nora darling, Nora, Nora, Mummy's here," the voice of Meabh Quoirin rang out through loudspeakers carried by rescuers, piercing the jungle silence. The family of Nora Anne Quoirin discovered her missing Sunday morning from the Dusun eco-resort in southern Negeri Sembilan state. Police believe the teen climbed out through a window in the...

Boeing 737 Max 8 woes crimp Asian airlines' growth plans

Jun 4, 2020

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...

Brunei death penalty moratorium applied to new Shariah laws

Jun 4, 2020

KUALA LUMPUR, Malaysia — Brunei's sultan has said a moratorium on capital punishment is in effect for new Shariah criminal laws including stoning people for gay sex and adultery that sparked an international outcry. The United Nations has called the laws implemented April 3 "draconian" while the U.S. and several other countries have urged Brunei to halt its plans. Celebrities including George Clooney, Elton John and Ellen DeGeneres have rallied for a boycott of nine hotels in the U.S. and Europe linked to Brunei. Even before 2014, homosexuality was already punishable in Brunei by a jail term of up to...

Stomp The City brings to you the latest trending news in Malaysia. Along with our daily active audiences and the efficient editorial team here in Stomp The City, we’re able to make things go viral in almost no time. Together, we are stronger.

Contact us: sales@stompthecity.com