The New Jersey Attorney General’s Office recently adopted the state Division of Gaming Enforcement’s regulations for how New Jerseyans will be able to wager on horse races with “fixed odds.”
That means that after generations of parimutuel wagering that left gamblers on occasion betting a horse at, say, 5-1 minutes before the race, only to see late money piling in to knock the odds down as low as even money as the horses left the starting gate, bettors will know their odds as they make their bet. The shift will align betting on a horse race more closely with a wagering on other sports, the latter of which was not legal in the state until mid-2018.
