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 thebudgetreport.com

Mexico calls for regional development to address immigration

May 21, 2019

MEXICO CITY — A U.N. commission on Monday presented a roadmap to boost economic development in three Central American nations whose poverty and violence now pushes desperate migrants to travel across Mexico to the United States. The plan calls for hefty increases in social spending, tackling corruption and improving security — as well as a hefty dose of financial support and investment, possibly from the United States. Mexico President Andrés Manuel López Obrador said the plan laid out by the United Nations' Economic Commission for Latin America and the Caribbean (ECLAC) was the United States' best option for stemming the...

US to roll out economic part of Mideast peace plan

May 21, 2019

WASHINGTON — The Trump administration will unveil the first phase of its long-awaited blueprint for Mideast peace next month at a conference in the region designed to highlight economic benefits that could be reaped if the Israeli-Palestinian conflict is resolved, the White House said Sunday. The plan, which has been two years in the making, envisions large-scale investment and infrastructure work in the Palestinian territories. But the central political elements remain mostly unknown. And the economic workshop, June 25-26 in Bahrain, will not address the most contentious parts of the conflict: borders, the status of Jerusalem, Palestinian refugees and Israel's...

Trump's 'great patriot' farmers follow him into a trade war

May 21, 2019

MADRID, Iowa — Iowa farmer Tim Bardole survived years of low crop prices and rising costs by cutting back on fertilizer and herbicides and fixing broken-down equipment rather than buying new. When President Donald Trump's trade war with China made a miserable situation worse, Bardole used up any equity his operation had and started investing in hogs in hopes they'll do better than crops. A year later, the dispute is still raging and soybeans hit a 10-year-low. But Bardole says he supports his president more today than he did when he cast a ballot for Trump in 2016, skeptical he...

Argentina's Fernández announces vice presidential bid

May 21, 2019

BUENOS AIRES, Argentina — Argentina's former President Cristina Fernández announced on Saturday her candidacy for vice president in October's general elections, a surprising move that now puts a more moderate challenger at the helm of the presidential ticket. In a video posted on Twitter on Saturday, Fernández said that Alberto Fernández, of the left-leaning Unidad Ciudadana political party, will run for the presidency against conservative President Mauricio Macri. "I have asked Alberto Fernández to head the formula that we will integrate together, he as a presidential candidate and I as a vice presidential candidate," Fernández said. "I am convinced that...

The Latest: Mexico industry group hails tariff agreement

May 21, 2019

WASHINGTON — The Latest on President Donald Trump and U.S. trade tariffs (all times local): 4:50 p.m. Mexico's National Chamber of the Iron and Steel Industry is congratulating the country's officials on the agreement reached with the United States on ending steel and aluminum tariffs. The chamber says in a statement posted online that it considers the deal "a strong and very positive step for industry in the entire region." It also calls it "a great advance" toward ratifying the new trade deal between Mexico, the United States and Canada. The chamber added Friday afternoon that, "As we have reiterated...

The Budget Report seeks to provide comprehensive coverage and analysis on the current economic, financial issues around the world. First hand finance and economic news all day, every day.

Contact us: sales@thebudgetreport.com