Jersey exchange wagering legislation advancing..
 

Exchange betting advances in New Jersey
By Matt Hegarty

The New Jersey Assembly late on Monday night unanimously passed a bill that would authorize exchange wagering by state residents and sent the bill to a Senate committee for consideration.

New Jersey Sports and Exposition Authority officials have said that if the legislation passes, the authority will issue a request for proposals to private companies to operate the exchange. Betfair has been eager to enter the U.S. market, though the legality of exchange wagering under existing U.S. federal law is murky.