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 peekintofield.com

Harper drives in 5 runs, Phillies rally past Dodgers 9-8

Jul 18, 2019

PHILADELPHIA — Bryce Harper hit a two-run double off Dodgers closer Kenley Jansen with one out in the bottom of the ninth after pinch-hitter Matt Beaty hit a three-run homer off Philadelphia closer Hector Neris in the top half, rallying the Phillies to a 9-8 win over Los Angeles on Tuesday night. Pinch-hitter Andrew Knapp hit a double with one out in the bottom of the ninth and Cesar Hernandez singled. Scott Kingery followed with a bloop single to center that scored Knapp to get the Phillies within a run. Harper then ripped a ball to the gap that bounced...

Nationals get HRs from Adams, Soto and roll past Orioles 8-1

Jul 18, 2019

BALTIMORE — Matt Adams and Juan Soto homered, rookie Austin Voth extended a streak of strong performances by Washington's rotation and the Nationals breezed past the neighboring Baltimore Orioles 8-1 Tuesday night. Though the Nationals and Orioles play in stadiums located just 40 miles apart, the gap between their talent and expectations is far wider. Eagerly chasing a playoff berth, Washington has won 13 of 16 and owns the third-best record in the National League. The Orioles, in the first year of a major rebuild, possess the worst home mark in the majors (12-35) and worst overall record (28-66). Recalled...

Mercado breaks tie with 2nd homer, Indians beat Tigers 8-6

Jul 18, 2019

CLEVELAND — The Cleveland Indians wanted to bounce back from a disappointing series against the Minnesota Twins. Oscar Mercado made certain they did. Cleveland's rookie outfielder hit his second home run of the game — a leadoff blast in the seventh inning — and the Indians continued to dominate Detroit with an 8-6 win over the Tigers on Monday night. Mercado, who came into the game in a 1-for-25 skid, homered into the bleachers in left field off Victor Alcántara (3-2) to break a 5-all tie. Mercado also hit a solo home run off Detroit starter Daniel Norris in the...

Crawford has 2 HRs, 8 RBIs as Giants overwhelm Rockies 19-2

Jul 18, 2019

DENVER — Brandon Crawford homered three times and drove in nine runs over the course of two games Monday, and the San Francisco Giants beat the Colorado Rockies 2-1 in the nightcap to complete a sweep of a split doubleheader. Crawford followed Stephen Vogt's homer off Chi Chi Gonzalez (0-2) leading off the fourth with one of his own. It was the second time on the day he was part of a back to back set. In the first game, Crawford went 5 for 6 with two homers and tied a San Francisco team record with eight RBIs as the...

Cody Bellinger hits 2 homers, Dodgers rout Phillies 16-2

Jul 18, 2019

PHILADELPHIA — Cody Bellinger saw a sea of blue behind him in right field and heard "M-V-P" chants throughout the night — in Philly. Bellinger hit his 32nd and 33rd homers, Clayton Kershaw struck out seven in six innings and the major league-leading Los Angeles Dodgers routed the Philadelphia Phillies 16-2 on Monday night. Bellinger passed reigning NL MVP Christian Yelich for the MLB lead in homers and entertained a large group of Dodgers fans who made the cross-country trip to Philly and nearly turned it into a home game for Los Angeles. "It was pretty special," Bellinger said. "We're...

Peek Into Field presents the latest news for sports which uses a court, course, field or anything-green related.

Contact us: sales@peekintofield.com