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

Globes carpet kicks off with big sleeves and shades of pink

Jun 2, 2020

NEW YORK — Cynthia Erivo and Greta Gerwig rocked sparkling chokers as the Golden Globes red carpet kicked off Sunday, with Erivo in a hand-beaded custom Thom Browne gown and Gerwig in black and cream. Both went off-shoulder for the big night in Beverly Hills, California. Erivo, the “Harriet” star and fashion standout, said her dress includes designs of her favorite flower, the peony, at the hem and in her lining. The short-sleeve gown, Erivo told E!, took 800 hours. A huge blue stone dropped from her short necklace. Shades of pink had an early trend moment on Kirsten Dunst...

Solidarity march against anti-Semitism, acts of hate

Jun 2, 2020

NEW YORK — Throngs of demonstrators joined by elected officials walked solemnly across the Brooklyn Bridge in a solidarity march Sunday against anti-Semitism and all acts of hate. The “No Hate, No Fear" march was organized by New York's Jewish community in the wake of recent anti-Semitic attacks, including a knife attack at a Hanukkah celebration north of New York City that left five people wounded and a fatal shootout at a kosher grocery in Jersey City, New Jersey. The crowds of participants jammed the streets in lower Manhattan as they waited their turns to get across the bridge. “It...

Innovative fashion designers lead the way on sustainability

Jun 2, 2020

LONDON — Innovative fashion designers are turning to such things as horseradish and nettles to make sustainable clothing and accessories to the delight of a growing number of buyers. While more consumers are paying closer attention to how the production of goods impacts the environment, old habits die hard. A buy-and-toss mentality persists despite a boost from celebrities helping to drive the upcycle and vintage movements. Actress Maggie Q, who created an activewear line from recycled fabrics, is among activists who see plenty of room for improvement. She says she feels "sick about fast fashion.'' "You hear people say, 'Well,...

House passes $1.4T government spending bill amid impeachment

Jun 2, 2020

WASHINGTON — The Democratic-controlled House voted Tuesday to pass a $1.4 trillion government spending package, handing President Donald Trump a victory on his U.S.-Mexico border fence while giving Democrats spending increases across a swath of domestic programs. The hard-fought legislation also funds a record Pentagon budget and is serving as a must-pass legislative locomotive to tow an unusually large haul of unrelated provisions into law, including an expensive repeal of Obama-era taxes on high-cost health plans, help for retired coal miners, and an increase from 18 to 21 in the nationwide legal age to buy tobacco products. The two-bill package,...

Streep, Miranda and Stone are named as Met Gala co-0chairs

Jun 2, 2020

NEW YORK — Next year's Met Gala may be the closest we'll ever come to getting a Miranda Priestly moment at the starry event. Meryl Streep has been named as a co-chair of the Metropolitan Museum of Art's Costume Institute. The Oscar-winner played Priestly, a thinly veiled fictional version of Vogue editor Anna Wintour, in the movie "The Devil Wears Prada." Wintour clearly has no hard feelings because she selected Streep as a co-chair along with Lin-Manuel Miranda and fellow Oscar-winner Emma Stone. Designer Nicolas Ghesquiere rounds out the group. The gala's theme is "About Time: Fashion and Duration," which...

About Us

Travel Leisure Mag is New York City’s travel and lifestyle online magazine with the vision of creating a unique blend of valuable and quality travel experience to the readers. We trust that you will enjoy this experience.

Contact us: sales[at]travelleisuremag.com