Christie approves bills expanding horse betting options

Gov. Chris Christie signed two bills into law today to expand the options for horse racing bets in New Jersey, reports the Associated Press.

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 race. Exchange wagering allows a bettor to wager on a selected outcome occurring, and another bettor to wager on that same outcome not occurring.

Another bill allows tracks to provide for a single pool for each running or harness horse race. These larger pools would be capable of handling a greater variety of wagers than current pools.

Christie said the bills will help ensure “a strong, independent, self-sufficient horse racing industry in New Jersey.”