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.”