New Jersey Administrative Code
Title 13 - LAW AND PUBLIC SAFETY
Chapter 74C - EXCHANGE WAGERING
Subchapter 5 - CONDUCT OF EXCHANGE WAGERING
Section 13:74C-5.1 - Permissible market types

1. Off-time market, which is a market within the exchange through which an exchange wagering account holder may back or lay a selected outcome on horse races conducted within and outside this State, and where the market is closed for exchange wagering at off-time;

2. Antepost market, which is a market within the exchange through which an exchange wagering account holder may back or lay a selected outcome on horse races conducted within and outside this State. In an antepost market, the exchange wager is placed in advance of the closing of entries on an outcome, and the exchange wager includes both that the selected horse will run the race and that the selected horse will finish the race in the selected position of win, place, or show. An antepost market closes for exchange wagering at the close of entries;

3. Finish market, which is a market within the exchange through which an exchange wagering account holder may back or lay a selected outcome on horse races conducted within and outside this State, and which market remains open after the off-time and closes for exchange wagering at the official finish of the race; and

4. Such other new markets as may be proposed by the exchange wagering licensee to the Commission through the filing of a written petition, pursuant to N.J.A.C. 13:74C-5.2, and which are approved by the Commission. The Commission shall approve a new market where the exchange wagering licensee demonstrates to the Commission's satisfaction, by clear and convincing evidence, that the new market is in compliance with the Act and this chapter, that the offering of exchange wagering through the new market will be accurately processed, that all aspects of wagering integrity and wagering recordkeeping will be maintained, that the offering of the new market will not negatively impact the fiscal soundness and technological reliability of the exchange wagering system, that the new market will not create undue confusion to the wagering public, and that the new market will not be inimical to the bests interests of racing.