BeforeTheOff.com uses cookies.
By continuing to use this website you imply consent to cookies being used.
For more information see our Privacy Policy

Already A Member? Login Now!




Forgot Username/Password?

Remember Me

JOIN NOW FOR FREEGet FREE BTO Plus+ Cards daily
& subscribe for full BTO+ access.

Create A New Account

WHAT IS BTO Plus+?Get a crash course in why BTO Plus+ should
be your new go-to for the best racing data

Learn About BTO Plus+
TM
  • Detailed trainer stats with profit pointers
  • Vital speed figures from latest runs
  • BTO+ ratings from thousands of variables
  • Thousands of races analysed for positive trends
  • Crucial course pace bias statistics
  • Unique pace maps for every race
  • Essential 1-2-3 shortlist for best value betting
With BTO Plus+

What Does Blockchain Have to Do with the Kentucky Derby?Posted on Tuesday 5th June 2018 @ 13.59

Bitcoin seems to be the word of the minute, and with the latest developments in all areas of blockchain technology, that's not very surprising. Bitcoin refers to the way in which blockchain technology ‘mines’ money digitally to create a new form of cryptocurrency that doesn’t rely on a central lender as a bank would. Therefore, payments can be made that forego the need for the middleman and offer greater digital protection. But what’s that got to do with horse racing? Well, the Kentucky Derby has opened up their gambling in order to allow Bitcoin to be seen as legal tender. With the Kentucky Derby being one of the most prolific and anticipated horse racing events in the calendar, introducing Bitcoin betting is a huge move. This move is not only unprecedented, it also showcases where the future might go for horse racing - but also for all sports and even the world’s financial organisations.

Bitcoin at the Kentucky Derby

Choosing the Kentucky Derby to host Bitcoin betting is somewhat of a clash of culture, given how steeped in history the tournament is and how Bitcoin reflects the fintech start-ups of the modern day technophile. The Churchill Downs features dozens of people dressed as they would back in 1875, when the tournament began – and some of them are opting to pay via ‘imaginary’ money. The opening up of blockchain for the Kentucky Derby stems from the tide of early adopters in blockchain cryptocurrency and the fact that these are most likely to be wanting to bet on the races. So, by offering their preferred modern method of payment, those who use Bitcoin, Bitcoin Cash or Litecoin are free to use it - so says Tim Maxwell, operations director for US Racing.

Bitcoin Popular in Horse Racing

Those involved with the Kentucky Derby will have paid heed to the fact that horse racing and Bitcoin already have a strong relationship, which explains the addition of the blockchain into the races. Betting on the horses using cryptocurrencies is popular among those who follow the sport online and have their finger on the digital pulse. Although Bitcoin is the most popular option here, as in other industries, it is not the only one. The next stop in the general improvement of betting online will be to have a vast range of payment methods to choose from, so those companies offering horse racing markets need to stay on the curve in order to offer the best possible experience.

Why Blockchain Cryptocurrency?

What are the benefits of blockchain cryptocurrency and why does this fit in with horse racing? Cryptocurrencies have better protection against fraud and cannot be counterfeited, while also protecting the personal data of the sender of the blockchain cryptocurrency. While standard banks operate on a pull system of taking the money, blockchain works on a push system of only sending information pertaining specifically to the transaction, thus protecting your identity. Blockchain sets itself as open to more people than traditional banking, as more people have internet access than easy access to banks. One of the most striking arguments for Bitcoin is the lack of intermediaries to slow down the process and take fees. The blockchain miners are reimbursed and the transaction fees are a lot lower than they would be in other payment methods. While blockchain does have its drawbacks, after creases are ironed out and it is taken up by more users, it looks to be the way of the future, especially as so many are flocking to invest in it.

The Ethersportcoin Platform

Blockchain doesn’t just come in the form of Bitcoin and its namesakes. ESC tokens or Ethersportcoin tokens are being developed by the EtherSport platform, which offers a multitude of sports betting opportunities using cryptocurrencies. By branching out into their own form of blockchain, those who want to utilise the latest blockchain technology can do so. The market for cryptocurrency betting is as yet untapped and companies have a wider scope before it becomes as saturated as other digital markets have become. Gradually, more and more sports and ways to engage with sports will emerge that rely on the advancements made in technology and the ways in which technology can take something people love and make it even better.

The use of cryptocurrency for betting at the Kentucky Derby is symbolic not just because the horse race represents the best of the best in horse racing, but that it represents the traditions that technology is allowing to be broken. The move may not be for everyone, but the Derby is showing that it is happy to embrace new technologies that its punters opt for and that it will facilitate positive change while keeping its roots firmly set in. Fans of the old world style of horse racing and fans of the fastest and latest technologies can coexist harmoniously. And this ripples outwards for the rest of horse racing, sport, and almost every pastime, as blockchain cryptocurrency will catch on.

Article Posted on Tuesday 5th June 2018 @ 13.59

Join BTO Today!

Create your FREE BTO account to get 1 FREE BTO Plus+ Racecards every day, as well access to BTO Plus+ subscriptions, bonus discounts and more!

LOGIN or Create an Account


Subscribe To BTO Plus+

More Show/Hide

EVERY BTO+ Race card EVERY day

Revolutionary race informationfor both casual and serious punters

LOGIN TO SUBSCRIBE

* Your subscription will automatically renew to avoid interruption of service. You can cancel at any time.

Starting Gate

More
punchestown Quevega Mares Hurdle (Grade 3)2m 4f - £19500 - Soft to Heavy

1 Elfile11/4

2 Surin20/1

3 Emily Moon25/1

4 Laurina4/5

5 Black Tears9/2

ludlow Plyvine Catering Maiden Hurdle1m 7f 169y - £4224 - Soft (Heavy in Places)

1 Big Data50/1

2 Forever Des Long7/2

3 Funambule Sivola22/1

4 Grand Slam14/1

5 Kilpin14/1

6 Letsbe Avenue100/1

7 Rhosneigr5/2

8 Black Kalarosa250/1

9 Hello Bob50/1

10 Lady Sally66/1

11 Lex Eleven50/1

12 Giga White40/1

13 Memphis Bleek100/1

14 Night Edition6/4

15 Zarafshan12/1

16 Fayetta66/1

newcastle Heed Your Hunch At Betway Handicap1m 4f 98y - £5072 - Standard

1 Central City0/0

2 Glan Y Gors0/0

3 Tigray0/0

4 Archive0/0

5 Ska Ridge0/0

6 Liva0/0

7 Major Snugfit0/0

8 Sweet Marmalade0/0

9 Tabou Beach Boy13/2

punchestown I.N.H. Stallion Owners EBF Maiden Hurdle2m 4f - £8400 - Soft to Heavy

1 Last Minute Man5/1

2 Fils Spirituel10/3

3 Ballylig40/1

4 Da Big Fella66/1

5 Desire De Joie8/1

6 Eklat De Rire11/2

7 Euclyde Dubreau0/0

8 Foxy Jacks7/2

9 Hardy Man40/1

10 Lou Trek66/1

11 Not So Simple66/1

12 Rekindled100/1

13 Attitash100/1

14 Lucky One5/1

15 Mig Des Taillons25/1

16 Stormy Judge10/1

17 Babysean66/1

18 Second Symphony100/1

19 Marajman6/1

doncaster 1st Security Solutions EBF 'National Hunt' Novices' Hurdle2m 3f 88y - £3769 - Soft (Good to Soft in places)

1 Sevarano3/1

2 Igor7/2

3 Logan Rocks20/1

4 Bighorn Mountain250/1

5 Carlow Farmer28/1

6 Danny Kirwan11/10

7 Felony16/1

8 Onchan50/1

9 The Macon Lugnatic33/1

10 Towards The Dawn20/1

11 Ulverston25/1

12 Boomtime Banker200/1

13 Roseisaroseisarose50/1

14 Morozov Cocktail50/1

ludlow EBF Mares' Novices' Chase2m 4f 11y - £7018 - Soft (Heavy in Places)

1 Dame du Soir5/2

2 Stupid Cupid80/1

3 Chilli Filli4/11

4 Crackle Lyn Rosie50/1

5 Happy News50/1

6 Midnight Calamity125/1

7 The Toojumpa8/1

8 Tinctoria250/1

newcastle Ladbrokes Home Of The Odds Boost Novice Stakes 7f 14y - £3429 - Standard

1 Ingleby Command100/1

2 Lucky Poppy50/1

3 Productive11/10

4 Shoot To Win80/1

5 Tough Character80/1

6 Ventura Bounty3/1

7 Waitangi50/1

8 Arju6/4

9 Haaf Eight50/1

10 Nellie French100/1

11 Plusdargent66/1

punchestown Final Festival Ticket Deal Ends Soon Maiden Hurdle2m - £6899 - Soft to Heavy

1 Bal De Rio6/1

2 Champagne Paddy20/1

3 Scully's Dream100/1

4 The Broghie Man3/1

5 Chosen Partner50/1

6 Stansfield33/1

7 All About Joe8/1

8 Allieyf100/1

9 Elusive Rebeldom16/1

10 Goaheadwiththeplan5/2

11 Robindevidastar66/1

12 Shortcross Storm14/1

13 Somptueux3/1

14 Stormy Native100/1

15 Gills Pet25/1

16 Indian Eye100/1

17 Demophon66/1

18 Groody Rover25/1

19 Low Lie The Fields40/1

Latest Results

More

SouthwellBetYourWay At Betway Handicap

17Accessor7/1
24Sociologist16/1
35War Empress20/1
Winning TrainerM Wigham
Winning JockeyJ Fanning
Runners12 ran
Distances1 length, 4 lengths
Tote Win£7.40
Pl£2.10, £4.50, £6.00
EX£64.40
Trifecta£1142.70
CSF£110.91
StatusWeighedIn

SouthwellBombardier British Hopped Amber Beer Classified Stakes

15Maykir6/1
210Stormy Bay6/1
36Medici Moon11/2
Winning TrainerJ R Jenkins
Winning JockeyLewis Edmunds
Runners10 ran
Distances2 lengths, 1 length
Tote Win£5.80
Pl£1.70, £1.60, £2.10
EX£50.70
Trifecta£377.80
CSF£43.69
StatusWeighedIn

SouthwellBetway Live Casino Handicap

14Astro Jakk5/2 f
26Samovar12/1
37Moveonup8/1
Winning TrainerK R Burke
Winning JockeyP J McDonald
Runners7 ran
Distances1 1/4 length, Neck
Tote Win£3.10
Pl£1.90, £4.10
EX£25.60
Trifecta£100.50
CSF£31.28
StatusWeighedIn

SouthwellBetway Selling Stakes

11Zapper Cass1/12 f
23Robot Boy8/1
34Karalini25/1
Winning TrainerM Appleby
Winning JockeyB A Curtis
Runners4 ran
Distances2 3/4 lengths, 1 1/4 length
Tote Win£1.10
Pl
EX£1.10
Trifecta£1.50
CSF£1.34
StatusWeighedIn

SouthwellHeed Your Hunch At Betway Handicap

13Global Humor8/1
24Jem Scuttle9/4
35Loulin6/1
Winning TrainerJ S Goldie
Winning JockeyPhil Dennis
Runners6 ran
Distances2 1/2 lengths, Head
Tote Win£4.40
Pl£4.10, £1.60
EX£36.30
Trifecta£143.20
CSF£25.38
StatusWeighedIn

SouthwellLadbrokes Home Of The Odds Boost Handicap

110Light Lily50/1
21Dark Phoenix10/1
33Class Clown7/1
Winning TrainerP W D'Arcy
Winning JockeyJ P Sullivan
Runners11 ran
Distances1 1/4 length, 7 1/2 lengths
Tote Win£49.40
Pl£8.80, £2.50, £1.50
EX£1026.20
Trifecta£6670.20
CSF£483.45
StatusWeighedIn

MusselburghRacing Post GoNorth Weekend 20-22 March Standard Open NH Flat Race

11Easy As That9/4 f
29Onward Route3/1
33Bollingerandkrug25/1
Winning TrainerMiss V Williams
Winning JockeyG Sheehan
Runners11 ran
Distances13 lengths, 3 1/4 lengths
Tote Win£3.40
Pl£1.40, £1.50, £5.30
EX£13.10
Trifecta£137.30
CSF£9.49
StatusWeighedIn

PunchestownDavid Trundley Artist At Punchestown Handicap Hurdle (80-102)

110Ballea Fox5/1
27Ice Cool14/1
36Ask Mary7/2
Winning TrainerS Spillane
Winning JockeyB J Foley
Runners13 ran
Distances1/2 length, Nose
Tote Win£5.40
Pl£1.70, £3.60
EX£69.70
Trifecta£833.60
CSF£69.28
StatusWeighedIn