from the USTA Communications Department

Columbus, OH — Gov. Chris Christie signed two bills into law Monday (Jan. 31) to expand the options for horse racing bets in New Jersey.

One sets up exchange wagering, a form of betting popular in Europe in which two or more people place directly opposing wagers on the outcome of a horse. The law authorizes the New Jersey Racing Commission to issue a license to the New Jersey Sports and Exposition Authority to establish an exchange wagering system. The issuance of the license is subject to the approval of the New Jersey Attorney General.

The other bill allows tracks to combine all wagers placed on a thoroughbred or harness horse race into a single pari-mutuel pool, thereby creating larger pools capable of handling a greater variety of wagers.