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

Biden's prism of loss: A public man, shaped by private grief

Aug 18, 2019

WASHINGTON — On the night before Joe Biden's world collapsed, he sat in a picture-perfect scene with his wife by the fireside in their Delaware living room. Biden, the hotshot senator-elect at just 30, was reflecting on the big things he would do when he got to Washington. It was one week out from Christmas in 1972, and Neilia, also 30, was addressing holiday cards as her husband rambled on. But then she interrupted his musings to share an ill premonition. "What's going to happen, Joey?" she asked her husband, in Biden's later recounting. "Things are too good." One day...

Virgin Galactic reveals futuristic outpost for space tourism

Aug 18, 2019

UPHAM, N.M. — Spaceport America is no longer just a shiny shell of hope that space tourism would one day launch from this remote spot in the New Mexico desert. The once-empty hangar that anchors the taxpayer-financed launch and landing facility has been transformed into a custom-tailored headquarters where Virgin Galactic will run its commercial flight operations. Two levels within the spaceport include mission control, a preparation area for pilots and a lounge for paying customers and their friends and families, with each element of the fit and finish paying homage to either the desert landscape that surrounds the futuristic...

The Latest: Pakistani president condemns India's actions

Aug 18, 2019

MUZAFFARABAD, Pakistan — The Latest on India's decision to downgrade Kashmir's status (all times local): noon Pakistan's president has condemned India's downgrading of Kashmir's status as a violation of international law and says Pakistan "will not leave Kashmiri people alone." President Arif Alvi made his remarks Wednesday while hoisting Pakistan's flag at a government building in Islamabad to start celebrations of the country's Independence Day. Prime Minister Imran Khan traveled to Pakistan's portion of divided Kashmir to express solidarity with Kashmiris on the Indian side. Alvi said he was sad over seeing Indian atrocities in Indian-administered Kashmir and that Muslims...

Facing pressure, Trump delays tariffs on some Chinese goods

Aug 18, 2019

WASHINGTON — Responding to pressure from businesses and growing fears that a trade war is threatening the U.S. economy, the Trump administration is delaying some import taxes it planned to impose on Chinese goods and is dropping others altogether. The announcement Tuesday from the Office of the U.S. Trade Representative was greeted with relief on Wall Street and by retailers who have grown fearful that the new tariffs would wreck holiday sales. The administration says it still plans to proceed with 10% tariffs on about $300 billion in Chinese imports — extending its import taxes on just about everything China...

Stocks soar after US delays plans for some China tariffs

Aug 18, 2019

NEW YORK — And back up goes the stock market. Stocks tore higher Tuesday, continuing their roller-coaster ways, after the latest turn in the U.S.-China trade war flipped investors back to buying mode. This time, it was the United States saying it would hold off on tariffs of Chinese imports of mobile phones, toys and several other items on holiday shopping lists until Dec. 15. China also said its negotiators had spoken with U.S. officials about the tariffs that President Donald Trump threatened to impose on Sept. 1, and they planned to talk again in the next two weeks. The...

Search

About Us

Tale Out is your go-to website when it comes to global travel and lifestyle news. If you need suggestions for the most relaxing places for vacation or some zen spa retreat, we have it all here in Tale Out.

Contact us: sales@taleout.com