N.J. Committee approves expansion of horse-race gambling

    New Jersey residents may be getting another way to wager on horse races.

    New Jersey residents may be getting another way to wager on horse races.

    An Assembly committee has advanced a bill that would authorize exchange wagering. That would allow two or more people to place opposing bets on whether a horse wins or loses a race.

    Assemblywoman Connie Wagner (D-Paramus) is the prime sponsor of the bill. She says exchange wagering could help stimulate the state’s horse racing in industry.

    “We hope that it will attract a new set of customers to the wagering industry,” says Wagner, “particularly the younger age group, because, right now, those that are attending the tracks are 50 years old and above.”

    Wagner says tax revenue increased more than 50 percent since the United Kingdom approved exchange wagering 12 years ago, and she’s hoping it will boost revenue in New Jersey. The measure is still awaiting action in the state Senate.

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