NJ passes several racing related bills

[philcski]

http://www.pressofatlanticcity.com/n...cc4c002e0.html

This part makes absolutely no sense though. Kind of like having politicians run racing- they don't even understand parimutuel wagering apparently. The racetrack CAN'T HAVE a bad day!

Finally, the fourth bill made changes to allow betting operators to combine all wagers placed on the results of one or more horse races into a single parimutuel pool. These larger pools can handle a greater variety of wagers and are less risky for racetracks.

“This bill essentially gives racetracks the ability to insulate themselves from going broke,” said Sen. Richard Codey, D-Essex. “If a single bettor has a bad night at the races, they’re hopefully not betting with their life savings and can continue to make ends meet.
“However, if a racetrack has a bad night at the races, it can have a domino effect, destabilizing the racetrack’s finances and eating into their economic well-being,” he said.