New Jersey § 5:5-199
Full text of New Jersey New Jersey Statutes § 5:5-199, with citation guidance and answers to common questions.
§ 5:5-199.
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.
Frequently Asked Questions About New Jersey § 5:5-199
What does New Jersey Statutes § 5:5-199 cover?
Section 5:5-199 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 5:5-199?
A common citation format is "New Jersey Statutes § 5:5-199" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 5:5-199 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.