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
market rasen MansionBet Novices' Hurdle2m 2f 140y - £4549 - Good to Soft

1 Deyrann de Carjac10/11

2 Event Of Sivola10/1

3 Garrettstown11/8

4 Gold Fields22/1

5 Pepperdew100/1

6 Realms Of Fire66/1

7 Sharp Reply100/1

8 Sir Runs A Lot100/1

ludlow Plymouth Carvery Novices' Hurdle1m 7f 169y - £4874 - Good (Good to Firm in places)

1 Takbeer33/1

2 Back On The Lash11/2

3 Ballon Onabudget14/1

4 Ballyellis66/1

5 Camlad Kingfisher150/1

6 Don Juan Du Gouet100/1

7 Humble Hero8/11

8 War Chief11/1

9 W S Gilbert200/1

10 Idilico7/2

11 Blue Ballerina200/1

wincanton Towergate Caravan Insurance Handicap Hurdle2m 5f 82y - £6823 - Good (Good to Soft in places)

1 Mercenaire12/1

2 Merry Milan12/1

3 Buywise17/2

4 Sandymount12/1

5 Pilansberg9/2

6 Honest Vic11/4

7 Myplaceatmidnight6/1

8 Pineapple Rush8/1

9 Shillingsworth14/1

10 Away For Slates100/1

11 Way Out West16/1

12 Cotton Club100/1

market rasen MansionBet Handicap Hurdle2m 7f 16y - £5198 - Good to Soft

1 Ballyart18/1

2 Ballyhome5/1

3 Almost Gold8/1

4 Iwilldoit7/4

5 Weakfield15/2

6 Loch Linnhe40/1

7 Let's Get At It3/1

8 Pershing Missile50/1

ludlow EBF/Thoroughbred Breeders' Association Mares' Novices' Chase2m 4f 11y - £7538 - Good (Good to Firm in places)

1 Kupatana11/8

2 Brillare Momento11/4

3 Little Miss Poet7/4

wincanton Healthy Pets 'National Hunt' Novices' Hurdle1m 7f 65y - £4549 - Good (Good to Soft in places)

1 Thistle Do Nicely11/4

2 Envole Toi14/1

3 Big Bamboo250/1

4 Clondaw Whisper250/1

5 Kauto The King14/1

6 Manofthemoment16/1

7 Nineohtwooneoh15/2

8 Rowley Park40/1

9 Storm Fire250/1

10 Vinnie Rouge80/1

11 Whatsmeanttobe16/1

12 Elusive Belle1/1

13 Win My Wings40/1

market rasen MansionBet Conditional Jockeys' Handicap Hurdle2m 2f 140y - £5198 - Good to Soft

1 Friday Night Light7/2

2 Ceara Be11/2

3 Oregon Gold15/2

4 Corinto11/2

5 Minella Fiveo10/1

6 Twotwothree4/1

7 Rockliffe5/1

ludlow Jubilee Restaurant Maiden Hurdle2m 5f 55y - £4874 - Good (Good to Firm in places)

1 Bob Maxwell100/1

2 Do It For Thy Sen20/1

3 Family Man66/1

4 Gaelic Poet22/1

5 Game In The Park100/1

6 Mayohill40/1

7 Monk's View14/1

8 Rapper13/8

9 Reve5/1

10 Stop The World7/2

11 Sudden Destination9/2

12 All Change125/1

13 Organdi28/1

14 Shelcomeonfordrun25/1

Latest Results

More

KemptonEvery Race Live On Racing TV Handicap

16Cosmogyral7/1
24Ember's Glow6/1
35Singing The Blues11/4 f
Winning TrainerD J S Ffrench Davis
Winning JockeyCallum Shepherd
Runners13 ran
Distances1/2 length, Short Head
Tote Win£7.10
Pl£1.70, £3.30, £1.60
EX£47.20
Trifecta£229.80
CSF£47.53
StatusWeighedIn

KemptonJoin Racing TV Now Fillies' Handicap

12Chloellie3/1
26Violet's Lads9/2
35Chica De La Noche5/2 f
Winning TrainerJ R Jenkins
Winning JockeyDavid Probert
Runners9 ran
DistancesNeck, 1 1/2 length
Tote Win£3.80
Pl£1.40, £1.80, £1.30
EX£19.00
Trifecta£44.40
CSF£16.88
StatusWeighedIn

Kempton32Red Handicap

16Happy Escape7/2
29Hammer Gun20/1
33Exchequer7/2
Winning TrainerA W Carroll
Winning JockeyHollie Doyle
Runners8 ran
Distances1 1/4 length, Neck
Tote Win£4.90
Pl£1.10, £5.00, £1.40
EX£75.20
Trifecta£342.10
CSF£69.15
StatusWeighedIn

Kempton32Red.com Handicap

11Doc Sportello10/1
25Bernie's Boy11/1
34Gold Hunter25/1
Winning TrainerA W Carroll
Winning JockeyR Winston
Runners6 ran
Distances1/2 length, 3/4 length
Tote Win£6.70
Pl£3.40, £4.20
EX£61.80
Trifecta£337.50
CSF£97.49
StatusWeighedIn

Kempton32Red Casino Handicap

15Little Palaver11/1
18Mont Kiara10/1
32Treacherous7/1
Winning TrainerC G Cox
Winning JockeyAmelia Glass
Runners11 ran
Distances, Short Head
Tote Win£6.60
Pl£3.40, £4.20, £2.40
EX£55.60
Trifecta£512.80
CSF£56.58
StatusWeighedIn

Kempton100% Profit Boost At 32RedSport.com Handicap

11Holy Heart6/4 f
26Juanito Chico9/1
32Sun Hat4/1
Winning TrainerJ H M Gosden
Winning JockeyR Havlin
Runners7 ran
Distances3/4 length, 2 1/4 lengths
Tote Win£1.90
Pl£1.50, £4.30
EX£17.70
Trifecta£66.50
CSF£15.31
StatusWeighedIn

Kempton32Red On The App Store Maiden Stakes

19Target Zone2/1
23Battle Of Paradise11/2
36Ifreet40/1
Winning TrainerD R C Elsworth
Winning JockeyDavid Probert
Runners14 ran
Distances2 1/4 lengths, 4 1/2 lengths
Tote Win£2.60
Pl£1.10, £1.90, £11.10
EX£13.90
Trifecta£269.70
CSF£12.82
StatusWeighedIn

KemptonIntroducing Racing TV Handicap

16Cashel4/1
23Gas Monkey7/1
32Cape Greco11/8 f
Winning TrainerM Appleby
Winning JockeyAlistair Rawlinson
Runners13 ran
Distances1/2 length, 1/2 length
Tote Win£4.90
Pl£1.90, £2.60, £1.10
EX£32.00
Trifecta£83.30
CSF£31.65
StatusWeighedIn