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Highest turnover since 1997 in Chinese New Year Raceday

The Chinese New Year race is celebrated yearly with the arrival of a new lunar cycle in honor of ancestors, deities, folklore, and Chinese traditions. 

It has been celebrated since 1998 and, since then, has become a tradition and a spectacle where people go to watch shows and other forms of entertainment in addition to the race, where pop stars and stars of the music industry take part.

Another tradition at the race is that the Jockey Club invites the local Feng Shui Master every year to give some advice during the Fortune Tips session.

This year, cherry tree groves were also used to bring good luck to the bettors.

For this Chinese New Year, the cup had an attendance of 84,394, one of the largest ever. It also generated a total of $2.06 billion in Hong Kong in betting, the highest level since 1997 and 10% more than the $1.86 billion generated in 2021. 

The winner of the primary race was the three-time British Flat champion, jockey Silvestre Sousa, who also got the crowd’s attention.

Highest turnover in 1997.

The previous record for the highest turnover was June 15, 1997, with a total of $2.54 billion.

This record was broken in the last HKJC race before the return of the territory to China.

On this date, the race generated an extremely high volume, which had not been seen before.

Chinese New Year Raceday – Current Highest Turnover 

The race day is Chinese New Year in Sha Tin, and this year’s race had the highest betting turnover since 1997.

This year also marks the first CNY race since the pandemic’s start, making it the best-attended event since 2020, when biosecurity measures began.

More than 80,000 people attended this year, bringing in a total of $263.06 million, surpassing with more than $170 million the bets placed on the Chinese New Year’s race. 

People bet on the 11 races at Sha Tin, and the winnings were more than HK$2.54 billion higher than those in June 1997, up 10.1% over last year’s event.

The official crowd was 84 394, the largest turnout since the 2019 Lunar New Year races.

Last July, the HKJC recorded a turnover of HK$140 billion (US$17.8 billion) for the 2021/22 season.

Winners of this 2023 Chinese New Year Race Day

The winner of this year’s primary race was British rider Silvestre de Sousa, who also won a double during these races.

In addition, there were doubles for Australian Hugh Bowman and the ‘Mauritius Magician’ Karis Teetan.