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

Blooms, beasts affected as Alaska records hottest month

Aug 20, 2019

ANCHORAGE, Alaska — Alaska has been America's canary in the coal mine for climate warming, and the yellow bird is swooning. July was Alaska's warmest month ever, according to the National Oceanic and Atmospheric Administration. Sea ice melted. Bering Sea fish swam in above-normal temperatures. So did children in the coastal town of Nome. Wildfire season started early and stayed late. Thousands of walruses thronged to shore. Unusual weather events like this could become more common with climate warming, said Brian Brettschneider, an associate climate researcher at the University of Alaska Fairbanks' International Arctic Research Center. Alaska has seen "multiple...

Climate change still threatens key US river after wet winter

Aug 20, 2019

FLAGSTAFF, Ariz. — Snow swamped mountains across the U.S. West last winter, leaving enough to thrill skiers into the summer, swelling rivers and streams when it melted, and largely making wildfire restrictions unnecessary. But the wet weather can be misleading. Climate change means the region is still getting drier and hotter. "It only demonstrates the wide swings we have to manage going forward," James Eklund, former director of the Upper Colorado River Commission, an interstate agency that ensures river water is doled out properly, said earlier this year. "You can put an ice cube — even an excellent ice cube...

Farms turn to technology amid water warnings in Southwest US

Aug 20, 2019

GREELEY, Colo. — A drone soared over a blazing hot cornfield in northeastern Colorado on a recent morning, snapping images with an infrared camera to help researchers decide how much water they would give the crops the next day. After a brief, snaking flight above the field, the drone landed and the researchers removed a handful of memory cards. Back at their computers, they analyzed the images for signs the corn was stressed from a lack of water. This U.S. Department of Agriculture station outside Greeley and other sites across the Southwest are experimenting with drones, specialized cameras and other...

Study: Asian carp could find plenty of food in Lake Michigan

Aug 20, 2019

TRAVERSE CITY, Mich. — Asian carp are likely to find enough food to spread farther if they establish breeding populations in Lake Michigan, reinforcing the importance of preventing the invasive fish from gaining a foothold, scientists said in a paper released Monday. A study led by University of Michigan researchers found that despite a drop-off in plankton, the tiny plants and animals on which bighead and silver carp typically feed, the lake has enough dietary options to sustain individual fish that venture away from nutrient-rich shoreline areas where most would congregate. That improves their prospects for colonizing large sections of...

Union: Mulvaney comments confirm agency moves meant to cut

Aug 20, 2019

TOPEKA, Kan. — A federal employees union charged Tuesday that recent comments by acting White House chief of staff Mick Mulvaney confirm the Trump administration's "grand strategy" to cut the federal workforce by relocating agency offices out of Washington. Mulvaney said last week that the U.S. Department of Agriculture's plan to relocate several hundred of jobs from Washington to the Kansas City area is "a wonderful way to streamline government." Speaking to a group of fellow Republicans in his home state of South Carolina, he said it's "nearly impossible" to fire federal workers but added that many will not move...

Kick Connect publishes a comprehensive overview of the latest news and theories on science & technology. We also report accurate news with a unique perspective on the world around us.

Contact us: sales@kickconnect.com