It has been reported that this past Wednesday (November 18), the New Jersey Racing Commission approved an application from the New Jersey Sports & Exposition Authority to issue Betfair US an exchange services agent licence.

An article by calvinayre.com explains that the approved NJSEA application also calls for Darby Development to be granted an exchange-management agent licence.

The report also clarifies that Darby Development is the company that is lead by Dennis Drazin and operates Monmouth Park.

Even though the Wednesday decision is a positive development for the prospect of exchange wagering in New Jersey, the measure still has to be reviewed by the office of the state’s Attorney General.

If all goes smoothly, officials are hoping that exchange wagering will be both legal and up and running in time for Monmouth’s 2016 meet of live racing.

(With files from calvinayre.com)