Embedding time into sports footage

Hi guys, this is my first post and unfortunately I am going to have difficulty explaining my request CLEARLY.
I presently have a HORITA VS-50 VIDEO STOPWATCH that allows me to position an on-screen timer calibrated to HOURS: MINUTES: SECONDS: 100THS OF A SECOND on my horse-race DVD footage.
As part of my data collection process I then “run” the race for each individual horse and collect times at certain parts of the race from start to finish. Each time I pause the replay to take the horse’s time at that point of the race, I write it by hand onto a data entry sheet I have designed. I then scan the data entry sheet (when all the horse’s data have been collected)and the timing data is imported into my database. The process is time-consuming and there are numerous errors related to either writing the times down incorrectly, or the scanner reading them incorrectly. I have several “checking” systems to try and ensure data integrity, but the whole process is “messy”.
I am looking for technology or suggestions that would allow me to “stop” the replay at a certain point and possibly use the videos own high resolution timer component (I hope that is correct) to be “recognised” and “trapped-exported” directly into the database.
There are some practical issues associated with racing footage that need to be taken into consideration.
1: To get a horse’s nose right on a “timing landmark point” previously identified on the track a considerable amount of frame by frame forward/rewind shuffling can be required. This means that the “timer” must also shuffle at the same time.
2: The “starting point” for the timing must be exactly the same for every horse.
I would be very appreciative of ANY comments, advice, references etc related to this issue.