New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 69Q - FIXED ODDS WAGERING › Subchapter 1 - FIXED ODDS WAGERING › Section 13:69Q-1.1 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, as used in this chapter, shall
				  have the following meanings, unless the context indicates otherwise.
"Authority" means the New Jersey Sports and Exposition
				  Authority.
"Best odds guarantee" means an offer by a licensed wagering
				  operator that patrons who make a fixed odds wager will receive more favorable
				  odds if the odds move in the patron's favor by the start of the race, but will
				  never receive worse that the odds at the time they placed the wager.
"Division" means the New Jersey Division of Gaming
				  Enforcement established pursuant to
				  P.L.
				  1977, c. 110 (N.J.S.A.
				  5:12-1 et seq.).
"Fixed odds" means customers are able to secure a given odds
				  price at the time of placing their wager. This price will not be subject to any
				  future fluctuations.
"Fixed odds vendor" shall mean a company that provides goods
				  or services to a race track or licensed wagering operator that have, in the
				  discretion of the Division, a significant impact on the wagering aspects of a
				  race track or licensed wagering operator. Examples of such vendors include
				  oddsmakers and manufacturers of totalisator equipment.
"Fixed odds wagering system" means a system approved by the
				  Division that may be comprised of computer equipment and software and by which
				  fixed odds wagers may be recorded and betting tickets issued or wagers recorded
				  in person, by direct phone call, or online.
"Kiosk" means the electronic betting terminals installed for
				  the purposes of wagering.
"Kiosk drop" shall mean the removal of funds from a kiosk in
				  a secure manner approved by the Division and the accounting of the funds
				  collected.
"Licensed wagering operator" means a wagering operator that
				  holds a license or authority described under the legislation or rules of the
				  State of New Jersey to carry out fixed odds wagering operations in New Jersey.
				  This may include a race track that operates fixed odds wagering on its own or a
				  third-party authorized to conduct fixed odds wagering operations at, or on
				  behalf of, a race track or on behalf of another entity.
"Odds" means when expressed in monetary terms, the return for
				  a stake of a certain monetary unit, inclusive of the unit of stake.
"Oddsmaker" shall mean a person or entity who sets fixed odds
				  on horse races that licensed wagering operators, or any entity that has been
				  contracted to operate a fixed odds wagering system, offers to patrons.
"Operating board" means the board previously established
				  under the Off-Track and Account Wagering Act to negotiate, manage, and oversee
				  any agreements made for the purposes of operating an account wagering system,
				  off-track wagering facility, exchange wagering system, or fixed odds wagering
				  system.
"Participation agreement" means a written agreement that sets
				  forth the manner in which the fixed odds wagering system shall be managed,
				  operated, and capitalized, as well as how expenses and revenues shall be
				  allocated and distributed by, and among, the Authority and other participants
				  subject to the agreement, including standardbred and thoroughbred permit
				  holders in New Jersey.
"Race track" means the physical facility where a permit
				  holder conducts a horse race meeting pursuant to a license issued by the New
				  Jersey Racing Commission pursuant to
				  P.L.
				  1940, c. 17 (N.J.S.A.
				  5:5-22 et seq.).
"Racing Commission" means the New Jersey Racing Commission
				  established pursuant to P.L.
				  1940, c. 17, section 1 (N.J.S.A.
				  5:5-22).
"Stake" means the monetary outlay by a customer in placing a
				  bet.
"Starting post price" shall mean the final fixed odds
				  established for each participating horse at the start of a race.
"Suspicious betting activity" means unusual betting activity
				  that cannot be explained and is indicative of match fixing, the manipulation of
				  an event, misuse of inside information, or other prohibited activity.
"Ticket writer" shall mean a cashier who operates a
				  totalisator, collects money from wagering patrons, issues wagering tickets to
				  patrons, and cashes winning wagering tickets.
"Void" means that the bet is cancelled as if it had not been
				  made and the stake must be refunded.
"Wagering ticket" means a printed record issued or an
				  electronic record maintained by the fixed odds wagering system that evidences a
				  fixed odds wager.