This text of New Jersey § 5:5-199 (Acceptance of wagers.) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
10. a. The fixed odds wagering licensee may accept fixed odds wagers from anyone physically present in New Jersey who holds a valid account with a fixed odds wagering licensee or residents of New Jersey who hold a valid account and who are physically present in another jurisdiction where placing such a wager is not inconsistent with the law of that jurisdiction or with federal law, only in accordance with this act, federal law, and as follows:
(1)A wager to back or lay a particular outcome in a given market, specifying the price of the wager, shall be placed directly with the fixed odds wagering licensee by the holder of the fixed odds wagering account.
(2)The fixed odds wagering account holder placing the wager shall provide the fixed odds wagering licensee with the correct personal ide
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10. a. The fixed odds wagering licensee may accept fixed odds wagers from anyone physically present in New Jersey who holds a valid account with a fixed odds wagering licensee or residents of New Jersey who hold a valid account and who are physically present in another jurisdiction where placing such a wager is not inconsistent with the law of that jurisdiction or with federal law, only in accordance with this act, federal law, and as follows: (1) A wager to back or lay a particular outcome in a given market, specifying the price of the wager, shall be placed directly with the fixed odds wagering licensee by the holder of the fixed odds wagering account. (2) The fixed odds wagering account holder placing the wager shall provide the fixed odds wagering licensee with the correct personal identification number of the holder of the fixed odds wagering account. (3) A fixed odds wagering licensee may not accept a fixed odds wager, or series of fixed odds wagers, when the results of which would create a liability for the fixed odds wagering account holder in excess of funds on deposit in the fixed odds wagering account of that holder. (4) Only the holder of a fixed odds wagering account shall place a wager. Unless otherwise approved by the division, no person, corporation, or other entity shall directly or indirectly act as an intermediary, transmitter, or agent in the placing of wagers for a holder of an fixed odds wagering account; provided, however, that the use of credit or debit cards specifically approved by the fixed odds wagering licensee or the use of checks, money orders, or negotiable orders of withdrawal or the use of telephonic, computer, or electronic means by the fixed odds wagering account holder to place such wagers shall not be prohibited. (5) The fixed odds wagering account holder may place a wager in person, by direct telephone call or by communication through other electronic media. b. A fixed odds wager may also be placed at a racetrack or off-track wagering facility in person without opening a fixed odds wagering account through a teller who shall issue a tote ticket for the wager which may then be cashed by the teller. L.2021, c.193, s.10.