Widely known as the Fixed-Odds Wagering Act, the legislation will allow customers to place fixed-odds horse racing bets through official licence-holders, rather than only pari-mutuel bets.
Licensees will be obligated to pay a share of their revenue from such wagering to the standardbred or thoroughbred permit holder.
Murphy’s signature comes after the bill secured unanimous approval in both the New Jersey Senate and Assembly in June.
Online wagering solutions provider BetMakers, which has an exclusive 10-year fixed-odds agreement on thoroughbred horse racing in New Jersey, welcomed the announcement.
Read the full story on iGB North America.
Original article: https://igamingbusiness.com/new-jersey-becomes-first-state-to-legalize-fixed-odds-betting-as-governor-signs-bill/
