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 Finance - Asia Logue

Philippines recalls envoys in Canada over trash shipments

May 22, 2019

MANILA, Philippines — The Philippines is recalling its ambassador and consuls in Canada over Ottawa's failure to comply with a deadline to take back truckloads of garbage that Filipino officials say were illegally shipped to the Philippines years ago, officials said Thursday. Foreign Secretary Teodoro Locsin Jr. tweeted that the Philippines "shall maintain a diminished diplomatic presence in Canada until its garbage is ship bound there." The drastic move is the latest strain in Philippine relations with Canada under President Rodrigo Duterte. Duterte threatened last month to forcibly ship the containers of garbage back to Canada and dump some at...

Thai English-language daily The Nation to end print edition

May 22, 2019

BANGKOK — The Nation, one of Thailand's two English-language dailies, announced Thursday it will stop publishing its print edition by the end of June but will continue with an online version. The CEO of the Nation Multimedia Group, Somchai Meesaen, said the newspaper will switch to digital platforms starting July 1 because its profit has declined in the past decade. "It will be The Nation's new step," he said on a program on the group's television channel, confirming reports that had circulated in other media a day earlier. The Nation was founded in 1971 largely as a progressive alternative to...

Stock markets stabilize after tumble over trade dispute

May 22, 2019

BANGKOK — World stock markets turned higher on Tuesday, stabilizing after heavy losses on Wall Street, as investors monitor the escalating dispute between China and the U.S. over trade. The FTSE 100 in Britain rose 0.9% to 7,230, while France's CAC 40 advanced 1.2% to 5,324. Germany's DAX advanced 0.6% to 11,949. Futures augured an upbeat start on Wall Street, with the contract for the Dow Jones Industrial Average up 0.6% and that for the S&P 500, which on Monday suffered its biggest loss since January, adding 0.7%. Investors already rattled by mounting tensions between Beijing and Washington got an...

Companies bracing for China's retaliation in tariffs dispute

May 22, 2019

BEIJING — Companies were bracing Monday for how Beijing might retaliate against President Donald Trump's escalation of a fight over technology and trade that threatens to disrupt a Chinese economic recovery. Regulators have threatened "necessary countermeasures" for Trump's tariff hikes Friday on $200 billion of Chinese imports. But three days later, in a break with previous tit-for-tat penalties that were imposed immediately, Beijing had yet to announce what it might do. A foreign ministry spokesman said Monday that he had no details about Chinese plans or high-level contacts since negotiations ended Friday without a deal. "We are determined and capable...

Chinese envoy says trade talks with US have not broken down

May 22, 2019

BEIJING — China's leading envoy to trade talks in Washington says the failure to strike a deal in the tariffs war with the U.S. was "just a small setback" and negotiations will continue despite increases in import duties on American imports from China. In comments to reporters before he left Washington for Beijing on Friday, Vice Premier Liu He said he was cautiously optimistic but that a deal would require the Trump administration to agree to end the punitive tariffs it has imposed on billions of dollars' worth of Chinese goods. In comments carried by China's state-run CCTV, Liu said...

Sign up now!

Advertisement