This is a big deal.

It’s amazing what a state that is broke will do to raise money.

Like consider allowing internet account wagering on horse races from bettors outside N.J.

Legislation that would permit just that has been introduced in the state Assembly.

Account wagering is a form of wagering in which an account holder deposits money with the state Sports and Exposition Authority, or its designee, and then uses the account balance to pay for wagers.

Sweet, huh?

Under current law, only New Jerseyans are permitted to establish wagering accounts for bets on in-state and out-of-state horse races through the system, either in-person or via the telephone or other electronic means such as the Internet.

The bill authorizes the account wagering licensee to accept wagers on the results of horse races from residents outside of New Jersey.

Under the bill, the account wagering licensee could accept account wagers from persons who are residents of another state, provided that:

• The person resides in a state where pari-mutuel wagering is permitted;

• Residents of that state are permitted to establish an account with the account wagering licensee; and

• The acceptance of the wager is in accordance and compliance with the provisions of the Interstate Horse Racing Act of 1978, any other applicable federal law and the laws of that state.

Let’s see what happens, but I think it’s pretty cool. I’m for it.

How about you?

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