The Chinese hired Peter Phillips, the Queen’s eldest grandchild to launch a horse racing industry that is supposed to rival the UK’s. Just this past week, Mr Phillips flew to Beijing for the official unveiling of the new China Jockey Club. The China Jockey Club will be the center point for China’s new and upcoming racing industry.
Many may perhaps laugh at the idea that China’s horse racing industry would be successful but those didn’t consider that it has the backing of the Chinese government.
The importance of the horse racing venture to the Chinese authorities was highlighted last Monday at a formal ceremony in the Chinese capital.
Industry insiders predict that the potential profits from the China Jockey Club could be enormous. Currently, horse racing in China is limited to a handful of meetings a year. Most of the tracks in China’s are still decrepit with only a few spectators for each race. Reason for that is the current ban of gambling by the Chinese government.
With the new China Jockey Club now backed by the Chinese government, horse racing in China may well take off and draw millions of visitors and millions in profit. You can learn more about horse racing betting at the UK’s top website for horse racing tips.