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 The Journalist Report

Mexico studies building new immigration facilities

May 24, 2019

MEXICO CITY — Mexico is studying a change in the way it handles migrants who have been overwhelming its facilities near the border with Guatemala, and may try to keep more of them in newly constructed voluntary shelters rather than in detention facilities. Tonatiuh Guillén, director of the National Immigration Institute, told The Associated Press this week that migrants requesting asylum or certain other visas would be free to come and go from the shelters. He said the first such shelter would be built in Chiapas near the southern border. Guillén said officials are looking at a 37-acre (15-hectare) property...

Ukraine's leader disbands parliament, calls early election

May 24, 2019

KIEV, Ukraine — Ukraine's new president on Tuesday formally ordered Ukraine's parliament to dissolve and called an early election for July, hoping to ride the wave of his electoral success to get his supporters into parliament. Volodymyr Zelenskiy, a 41-year-old TV comedian who won 73% of the presidential vote last month, announced his intention of disbanding parliament in his inauguration speech Monday, saying that current lawmakers were too focused on self-enrichment and lacked public trust. He quickly fulfilled the promise in Tuesday's decree, which set a parliamentary election for July 21. Zelenskiy's landslide victory reflected Ukrainians' exasperation with the country's...

Mexico calls for regional development to address immigration

May 24, 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...

Mexico to stop forgiving taxes for big payers

May 24, 2019

MEXICO CITY — Mexico President Andrés Manuel López Obrador says that the government is ending tax forgiveness, which for years had been a gift to the country's biggest taxpayers. According to the government, the pardons were abused under the previous administrations of Felipe Calderón and Enrique Peña Nieto to the tune of more than $15.5 billion uncollected since 2007. López Obrador says the richest in some cases didn't pay taxes or what they paid was returned. He signed the decree Monday. More than 150,000 taxpayers benefited from it, but just 108 of them accounted for 54% of the forgiven taxes....

Congo political exiles return as new leader brings reforms

May 24, 2019

KINSHASA, Congo — Congolese art collector and businessman Sindika Dokolo feared being jailed if he returned to his country as an opponent of the longtime president. During his five years in exile, a court convicted him in absentia on charges related to a real estate dispute which he says were politically motivated. All that changed when longtime President Joseph Kabila stepped down earlier this year after nearly two decades in office and handed over power to opposition figure Felix Tshisekedi. "Now I have the opportunity to defend myself, to clear my name and expunge this conviction," the 47-year-old Sindika told...

About Us

The Journalist Report publishes timely news updates around the clock. We have a group of journalists around the globe to deliver the latest news around so that we can get our users connected.

Contact us: sales[at]thejournalistreport.com

Subscribe Now!