A truly bad day for N.J.

[richard burch]

This is really one of the saddest days for me and many others. The thought that there may never be horse racing again in New Jersey was something I never thought could happen.

I will never understand how an industry could run for over 30 years and then be given up on so quickly and callously with disregard for people’s jobs and families.

I’ve seen them so many times at the track and they are always courteous and friendly to me. Now they too will join the 10% unemployed people of this state.

The horse farms spread out through central jersey will also take a hit from this incredibly bad decision.

What really gets me is that there doesn’t seem to be anyone fighting to save the industry in N.J. Not even to save themselves or their own jobs. Where is the response from the horse racing industry?

The only one who seems to know what the right thing to do was former Gov. R. Codey. He knows that the slots put in the tracks is the right idea and you will find that most people in northern New Jersey would support the it.

Instead our new Gov. created some puppet panel to research the casino and racing industries knowing full well what the outcome would be. He chose to sink more money into a corrupt, run down city and gambling industry that has 6 out of 11 casinos in bankruptcy. He told us about 38,000 people who would lose their jobs from A.C. but never once mentioned the thousands who work in the racing game that would lose their jobs. Now he wants to invest more into a multi billion dollar disaster named Xanadu that nobody in Bergen County even cares about. (More money down the toilet)

This is the same guy who shook one hand with the people in Monmouth Park and is now stabbing them in the back with the other

Knowing the history of A.C. it isn’t hard to see what happened here again. (Not that I would ever suggest that some criminal element would ever be involved with the N.J. gambling industry)

So here is the question:

What can we do to not let this happen? Is there anything we can do at all?

[joeydb]

Rich - I agree with you. Very sad day.

I used to go to Garden State Park a lot when I was a teenager and through college. Racing has been getting squeezed for a long time. Atlantic City wants to kill it and now they might have the perfect excuse: the screwed up budget -- which must be fixed. But there must be a way to make racing work and the slots sound like a good idea, given how far from A.C. the two operating tracks are.

[Princess Doreen]

http://www.derbytrail.com/forums/showthread.php?t=37270 for complete story and other comments on this.

[GoIrish]

From the biased articles I have been reading it seems that the Meadowlands is in the most danger of closing. There have been few details on MP other then the state would like to lease it or sell it. I'm not an accountant, but I am smart enough to suppose that there is some creative bookeeping going on here. I'd be willing to bet the state makes plenty of money from MP. It's beyond me how that operation could be losing $10 mil. I just do not buy it.

And all this bad press is not going to help. I'm so sick of hearing about how horse racing in NJ is dying. It's utter BS. Tell that to the thousands of people who have been enjoying weekends at MP this year. I'll be there Saturday for Rachel along with 15,000 others (guessing). This is typical of how this half-assed state does things. They kill everything I love(d) about it. My grandparents are rolling in their graves 5 miles from MP.

[richard burch]

Originally Posted by GoIrish

From the biased articles I have been reading it seems that the Meadowlands is in the most danger of closing. There have been few details on MP other then the state would like to lease it or sell it. I'm not an accountant, but I am smart enough to suppose that there is some creative bookeeping going on here. I'd be willing to bet the state makes plenty of money from MP. It's beyond me how that operation could be losing $10 mil. I just do not buy it.

And all this bad press is not going to help. I'm so sick of hearing about how horse racing in NJ is dying. It's utter BS. Tell that to the thousands of people who have been enjoying weekends at MP this year. I'll be there Saturday for Rachel along with 15,000 others (guessing). This is typical of how this half-assed state does things. They kill everything I love(d) about it. My grandparents are rolling in their graves 5 miles from MP.

It's hard to see anyone buying either one of these tracks and making a profit if they are not allowed to install vlt's.

But I think they are selling them for 1$ each. If you want, I'll go in half with you!

[GoIrish]

I agree, and since AC controls all the politicos in NJ it ain't happening. I used to be a frequent visitor to AC, but no more. As much as I love gambling, I'll never spend another cent in AC if they end up running the tracks out of business by keeping away slots at the Meadowlands.

The $1 plan only applies to the Meadowlands. See option 3 from the report. I vote for option 1. 4 seems totally unrealistic.

2. Potential Options for the Future

a. OPTION 1: Thoroughbred racing at Monmouth and Atlantic City

This option would eliminate harness racing and thereby remove the largest
portion of NJSEA’s financial losses. Other elements of this option might include the following:
• Conduct a 50‐71‐day meet at Monmouth Park and potentially 10 days of
turf racing at Atlantic City.
• Allow Freehold to retain its OTW license and its right to build additional
OTW parlors. If Freehold declines its option to build additional OTW
parlors, the license would revert back to the NJSEA (time frames must be
established).
• Have the NJTHA agree to drop the contractual requirement for the NJSEA
to pay $4.7 million toward purses.
• Create a special fund for standardbred awards for owners and breeders
that win races out of state.
• Convert the front paddock area at the Meadowlands into a 50,000 square
foot OTW parlor and utilize the remaining paddock space for NJSEA office
space.
• Assume the Bayonne OTW parlor to be operational in 2012; assume one
additional OTW parlor to be operation in 2013 and one in 2014 with rents
above Woodbridge and below Bayonne, square footage the same as
Woodbridge and handle projected at $71 million.
• Treat all future OTW parlors as renovations.
• Develop a reuse for the Meadowlands racetrack consistent with sports,
entertainment or other public events or facilities.
• Grow account wagering by 3% ‐ 4% a year for the next five years.
• Remove Freehold from a share of account wagering profits based upon
an agreement that Freehold will retain and build out their OTW licenses.
There is currently a 70% ‐ 30% split between Freehold and NJSEA with
NJSEA being responsible for operating the entire business.

b. Option 2: Thoroughbred Racing at Monmouth and potentially 10 days at Atlantic City and 70 standardbred dates at Monmouth.

This option would relocate a shorter standardbred meet from the Meadowlands
to Monmouth Park:
• Legislation would be needed to change race dates as well as rules
governing OTW parlors and account wagering.
• Thoroughbred horsemen would have concerns about this option due to a
real or perceived change in the racing surface.
• Negotiations to rearrange live racing from Freehold would be challenging.
• There would be additional costs to add lights (track, building and parking
lots) to Monmouth Park to allow for night racing.
• A front paddock would have to be added at Monmouth to allow for
standardbred racing. The estimated cost of this addition is $8 million ‐
$12 million.
• Additional winterization of Monmouth may be necessary.
• Two harness tracks would be competing in the same market.

c. OPTION 3: Lease the Meadowlands Racetrack to the standardbred horsemen for $1 dollar a year for three years with early termination rights and an equity‐based share of the Bayonne OTW parlor.

This option provides the Standardbred Industry the opportunity to continue
racing at the Meadowlands:
• Standardbred horsemen would be responsible for all operating expenses.
• Standardbred horsemen would be responsible for the racetrack share of
the payments in lieu of taxes currently at a total level of $2.5 million per
year.
• Standardbred horsemen would be responsible for capital improvements
estimated to be in the range of $2 million.
• There would likely not be sufficient purse money in the State to support
quality racing.
• The NJSEA would lose the right to build a Meadowlands OTW parlor
resulting in an $8 million reduction in NJSEA income.
• The Commission proposes that the lease be for a three year term at
$1.00/year net (tenant pays all expenses).
• Standardbred horsemen could become equity investors in OTW facilities.
• Potential to convert the front paddock to an OTW parlor and run a 50‐day
championship meet at the Meadowlands Racetrack.

d. OPTION 4: Private entities could be encouraged to buy and convert to a
commercial use one of the standardbred farms in New Jersey that has a mile track, and build a 5,000 seat grandstand complete with all necessary amenities. Included in this option would be the construction of an OTW parlor at the Meadowlands so as not to lose the northern New Jersey standardbred market. The major difficulty with this option is the competition from Freehold and the challenge to work out agreeable racing dates. Freehold, unfortunately, has a ½ mile track with little room for expansion.

[philcski]

I didn't believe this article for one second so I ran the numbers myself for this year's meet thus far.
http://spreadsheets1.google.com/ccc?...cD&hl=en#gid=0

As you can see, at a blended takeout of 18% and a signal cost of 6% (and an assumption that 20% of off-track wagering made in-state; these numbers are not published for NJ but NY averages 25-30%) and $200k a day in purse supplements from the casinos, MP has made over $4 million this meet before expenses and inclusion of revenues from attendance and concessions, plus all of the profits from simulcast at MP both off-season and in-season.

Now, I realize that running a racetrack is a very expensive proposition, but you cannot tell me it's $50k/day when live racing is not being conducted and $100k/day when it is (which would add up to about $4MM since mid-May.) If the entity runs at a net zero it is a huge financial gain for the state in taxes on wagering, claims, and purse earnings- not to mention taxes on payroll, etc.

[GoIrish]

I encourage you to read the hoseracing section of the actual report here:

http://www.nj.gov/governor/news/repo...ent_final2.pdf

It's actually kind of positive regarding the thoroughbreds; not so much for the trotters. Not surprisingly the press has latched onto one segment of the report as if it's a done deal.

[joeydb]

I was a resident of South Jersey, and I haven't had the pleasure of going to Monmouth yet. I plan to sometime in the next few weeks.

But I remember Atlantic City Race Course, which is now open turf only for 6 days as a last ditch effort to keep it from closing permanently and becoming yet another shopping mall.

And Garden State Park, which used to have both trotters and thoroughbreds depending on what time of year it was. That's a shopping mall now too.

So from the south Jersey resident's point of view, racing has been dying in NJ. Of course we are closer to Atlantic City and our residents have fed that monster, so that's where the problem stems from.

[richard burch]

N.J. horse industry feels betrayed by Gov. Christie's support of Atlantic City, but not Meadowlands

"The whole industry in New Jersey will be gone, including Perretti Farms," said Anthony Perretti, general manager of Perretti Farms in Cream Ridge, the state’s largest breeding farm. "The governor and his team are willing to support Atlantic City, but not the Meadowlands? Give us support, so we can reinvent as well."

Horses are big business in New Jersey. According to a Rutgers University report from 2007, horse racing and racing-related operations generate more than $780 million in economic activity each year. Some 3,800 of the industry’s 13,000 jobs are tied to racetracks. Horse farms represent one-fifth of the state’s 790,000 agricultural acres, and house upwards of 12,500 standardbreds and thoroughbreds.New Jersey is a national leader, too. In 2007, the state was second only to Kentucky for horse sales as a percentage of agricultural sales, said Paul Gottlieb, associate professor at Rutgers University. And it ranked second, after Rhode Island, for total breeding per acre of land, he said.

"We are one of the top equine states in the country," said Gottlieb, who noted potential race track closings will have far-reaching implications. "The impact is likely to be felt by agricultural suppliers, including hay growers who do not keep horses themselves, veterinarians, trainers, farriers, and so on."

http://www.nj.com/news/index.ssf/201...s_gov_chr.html

[richard burch]

Mr. Burch,

Many thanks for your email.

As you may be aware, all Assembly Members and Senators representing
Bergen County in the Legislature met the afternoon of the release of the
Commission's report earlier this week. We agreed unanimously that
support of the report's conclusions, especially as they addressed the
issue of the Meadowlands, would severely undermine efforts to revitalize
northern New Jersey, increase employment and negatively affect our
common efforts to make the Meadowlands a true economic engine for the
state, and particularly North Jersey.

I greatly appreciate your support and kind words. Please know that I
join you in your concern and will speak vociferously on the subject in
support of the 36th District and the entire state of New Jersey.

I look forward to speaking with you in the future, and appreciate your
time in writing.

Gary Schaer, Assemblyman
36th Legislative District

[philcski]

Originally Posted by richard burch

Mr. Burch,

Many thanks for your email.

As you may be aware, all Assembly Members and Senators representing
Bergen County in the Legislature met the afternoon of the release of the
Commission's report earlier this week. We agreed unanimously that
support of the report's conclusions, especially as they addressed the
issue of the Meadowlands, would severely undermine efforts to revitalize
northern New Jersey, increase employment and negatively affect our
common efforts to make the Meadowlands a true economic engine for the
state, and particularly North Jersey.

I greatly appreciate your support and kind words. Please know that I
join you in your concern and will speak vociferously on the subject in
support of the 36th District and the entire state of New Jersey.

I look forward to speaking with you in the future, and appreciate your
time in writing.

Gary Schaer, Assemblyman
36th Legislative District

Good job man- my hats off to you for fighting the fight, even if it's just a small voice in the big picture, it matters.

[richard burch]

Commission to N.J. racing: Drop Dead

When New Jersey Governor Chris Christie put together something called the New Jersey Gaming, Sports and Entertainment Advisory Commission and asked it to come up with solutions for the many thorny issues facing the state's gambling interests, the horse racing industry knew it might be in for a hard time. Not only were the Meadowlands and Monmouth, both state-owned tracks, losing money the state couldn't afford to lose, but also the deck figured to be stacked in favor of the powerful Atlantic City casino interests. In New Jersey, it always is.

But no one could have expected what was to come out of the commission, a report that figures to have devastating consequences for New Jersey racing, particularly the harness industry. The commission didn't come up with one thing to help horse racing or even a hint of a solution. Rather, it says the way to fix things is to kill the game.

And Christie is on board: "This report is a blueprint that will guide our efforts in managing and protecting our gaming, sports and entertainment resources more responsibly and reforming issues critical to New Jersey's economic future," he said in a statement.

The easiest way to fix racing in New Jersey would be to jump on the slots machine bandwagon and bring them to the Meadowlands, where a casino in one of the most densely populated areas in the country would no doubt be wildly successful. The Atlantic City lobby has always been against that, so few racing people expected the commission or Christie to deliver slots. But most thought they would come up with something to help racing, which not only has a long history in New Jersey but is vital to the state's economy because it provides thousands of jobs and preserves green space, something there isn't nearly enough of in the "Garden State."

But there wasn't even a crumb. The commission basically told the harness industry it is on its own. It can either lease the Meadowlands for $1 or let the place close. It also came up with other proposals, like holding a harness meet at Monmouth or creating a small track at one of the state's training centers. Whatever direction the harness industry goes, the end result will either be no racing or minor league racing that bears no resemblance to the quality product that has made the Meadowlands the center of the harness racing universe.

Apparently, Christie hates Monmouth Park less than he hates harness racing. His minions on the commissions weren't quite so harsh on Monmouth and didn't call for it to shut down. Then again, thoroughbred racing in New Jersey also has plenty of problems. The commission said the days of the casinos helping fund the purses through a subsidy are over. Once that subsidy is gone, Monmouth can't possibly maintain the purse structure that has made the 2010 meet a smashing success. Its future? Who knows?

Perhaps horse racing has no right to expect a handout from the state or anyone else, especially in these difficult economic times. The game indeed needs to find ways to get back on its feet and be self-sufficient.

But the industry does have a right to be treated fairly. What is so galling about the report is that it plays up to the casino guys and makes it clear that the state will roll over and do everything it can to make Atlantic City thrive again. The state is willing to go so far to help Atlantic City that it is exploring taking over the area where the casinos are located. If all this means killing horse racing in the process, too bad.

Like New Jersey racing, the Atlantic City casinos are in trouble and need help. Casinos and racinos in Pennsylvania, Delaware and New York that have come on the scene in recent years surround Atlantic City. People choose convenience when deciding where to gamble, and that's what's killing A.C. The most obvious solution is to join forces with racing and open a casino at the Meadowlands. There'd be more than enough money to go around to satisfy everyone and to revive both the racing and casino industries in the state. Even the state, which is supposedly so desperate for money, can benefit by taking its slice of what would be a big, fat slots pie out at the Meadowlands.

But Atlantic City doesn't want that. Their game plan is obvious: they want to kill horse racing in New Jersey and when that is accomplished they can move into the North Jersey market and not have to share their profits with racing. It's called greed.

It's Christie's job to stop that from happening, to look out for Atlantic City and horse racing. One shouldn't matter more than the other. But he's obviously not going to do that, and neither are the vast majority of politicians in the southern half of the state who have spent their careers doing whatever Atlantic City tells them to do.

This is politics at its worst and when politics stinks this badly money is involved. One can only imagine how much cash the Atlantic City casino lobby has thrown around to make so many politicians their lap dogs.

There's a lot of garbage coming out of Christie's office. A portion of his press release on the commission's report carries the headline "Creation of a Sustainable Industry Structure to Preserve Live Horse Racing." Don't believe a word of it. This is all about taking care of Atlantic City, and nothing else.

Shame on you, Chris Christie.

http://sports.espn.go.com/sports/hor...ill&id=5402529

[richard burch]

The Future of Racing in New Jersey Will Impact Sport Horses


The bombshell revelation last week that horse racing has a questionable future in New Jersey also delivered a blow to the sport horse segment of the state's equine industry.
"It's devastating," said Karyn Malinowski, director of the Rutgers Equine Science Center, summing up her response to the Hanson Report. The document outlined several alternatives, including the end of live racing at the Meadowlands, but in Malinowski's view did not take into account racing's value to the state's agribusiness.

"Horse racing is the economic driving engine of the entire horse industry in New Jersey," which has a $780 million value annually, Malinowski noted.
Racing interests contend permitting slot machines to operate at the state's tracks, as they do successfully at tracks in neighboring states, is the answer to New Jersey racing's financial woes _ but no such proposal appears in the Hanson Report and pressure from Atlantic City casinos has prevented that solution. With "racinos" already in action across state lines in close proximity to Atlantic City, those in the horse industry are mystified at why slots can't be used to save the Meadowlands, which is known worldwide for its standardbred racing.

Though a decision about how to proceed on racing has yet to be made by the state, which is seeking to end subsidies for the sport, the worst-case scenario is chilling to many whose livelihood or recreation revolves around horses.
Visions of empty farmland, some of it ripe for development; thousands of horses departing for neighboring states and a consequent wave of unemployment are haunting.
"It's an absolute disaster for me," said Pete Bousum, a veterinarian who is president of the Mid-Atlantic Equine Medical Center in Ringoes, where the size of the clinic was just doubled.
Standardbreds (harness racing), thoroughbreds (flat racing) and breeding are 60 percent of the facility's business, he said.
"I don't know what to expect. It's hard to believe it will really go away," he commented, contending slots are "a very simple remedy for the Meadowlands."

Jerseyans involved in showing, pleasure riding, polo and other equestrian activities have the luxury of enjoying top veterinary clinics and farriers, tack shops, feed stores and additional amenities all within a short distance from their stables _ while horse owners in many other states have to drive long distances for such services.
"If the veterinarians and farriers lose half of their customer base, they'll have to go somewhere else to find new clients, which would put our horses at risk for not having the same care. It could drive a lot of the quality services we have in this state out of here," said Tierney Sullivan, who owns Coach Stop Saddlery in Bedminster, which primarily serves those involved with hunters, jumpers, eventers, dressage, and pleasure riding.

"The horse is the state animal. Hello, we need to keep them here and not send them elsewhere."
Liz Durkin, an attorney and hunter/jumper rider who has a 100-acre preserved farm in Warren County where she keeps her horses, agrees that the non-racing segment will be affected if racing diminishes or disappears.
She believes it will survive, but ``it will be a struggle,'' said Durkin.
"I don't think anyone understands the impact yet," she noted, pointing out the state actually would lose revenue on many fronts if there is an equine exodus.
Durkin is on the advisory board for the Equine Science Center, where research and services valuable to horse owners in every breed and discipline throughout New Jersey and across the country already are suffering cutbacks. Funding is necessary to solve such problems as laminitis, the condition that ended Kentucky Derby winner Barbaro's life.

Jane Gilbert, a past president of the New Jersey Horse Council, is president of ReRun, which places former thoroughbred race horse in new homes. If racing stables move out of state, not all the horses will go with them, she fears, and ReRun already has a tough time placing a surplus of unwanted former runners.

"Today we have a waiting list of 10," Gilbert said Friday, noting all the organization's facilities are full. "I'm sure by tomorrow it will be 12 or 13." ReRun and the Standardbred Retirement Foundation are hoping for money from the state, but what will happen with that is also uncertain.

A percentage of the wagering handle supports the state's Equine Advisory Board, which gives out awards to sport horse breeders and also helps finance therapeutic riding and 4-H programs for youth.
"The whole industry is interconnected,'' said Rick Wills, who owns Rick's Saddle Shop in Cream Ridge and Englishtown, where he also has a feed store, as well as a tack shop in Pennsylvania.
In terms of what could happen to racing, Wills said, "you're really just giving away an industry to all of the neighboring states that are really happy to get it."
If racing departs, Wills cited several examples of economic loss. He'll sell less of the products he stocks, some of which are made in New Jersey. He'd likely need fewer employees, and Wills even pointed out that he'd spend less on advertising in New Jersey.

"I wish the Governor would come to my Cream Ridge store one day and listen to the folks that have horses and (learn about) the quality of life that it adds to New Jersey; the farmland that is preserved because of horses and horse racing," said Wills.
He is serious about the offer and said he would organize an informational session for anyone who would like to come and learn "what horses mean to New Jersey."

[richard burch]

BUSES TO GAMING SUMMIT
MANALAPAN, NJ -- July 30, 2010 -- The Standardbred Breeders & Owners Association of New Jersey is arranging for buses to the Atlantic City Convention Center on Friday, August 6 for the Gaming Summit which begins at 10 a.m.

It is expected that buses will leave from locations at training centers in Monmouth County and from the Meadowlands. Specific times and places will be provided next week.

Space will be limited, but the SBOANJ needs to know the interest level now. To reserve a spot on the bus, you will need to contact the SBOANJ office in the next couple of days. Either call 732-462-2357 or email sboastakes@optonline.net.

Visit the SBOANJ’s website frequently for updated information at www.sboanj.com.

[richard burch]

http://www.youtube.com/watch?v=tEyOt...layer_embedded

[freddymo]

Those barns Perretti has where built by the great Matt's Scooter. it's a beautiful farm that is for sure!

[richard burch]

Originally Posted by HomerS

Dysfunction in NJ is maddening

http://www.northjersey.com/arts_ente...er_payoff.html

ive been there and the one in toms river. i like them both. most people don't even know that the toms river one exists.

however you must have actual horses racing for us to wager .

therefore i believe the actual racing at the meadowlands and monmouth need to be saved, hopefully by VLTS like everyone else has done around us.

phili
chester
the meadows
yonkers
monticello
delaware
etc....

[richard burch]

Assemblywoman Connie Wagner, Assemblymen Craig J. Coughlin and John Burzichelli Sponsored to Authorize Exchange Wagering
By Mel Fabrikant Sunday, July 11, 2010, 09:57 AM EDT


Legislation Assemblywoman Connie Wagner, Assemblyman Craig J. Coughlin and Assemblyman John Burzichelli sponsored to authorize exchange wagering on results of in-state and out-of-state horse races was recently approved by the Assembly and is set for more consideration.

The bill was approved 78-0 by the Assembly and is set for Thursday consideration by the Senate State Government, Wagering, Tourism & Historic Preservation Committee.

"Expanding wagering options can only help boost our horse racing industry and tracks and ensure New Jersey stays a step ahead of the rest of the nation when it comes to innovative approaches," said Wagner (D-Bergen). "This is a step forward for New Jersey horse racing."
"This bill will ensure this new option for horse wagering in our state is properly regulated and safeguarded," said Coughlin (D-Middlesex). "It's an exciting new option that will keep New Jersey ahead of the pack."

“This is just another way to help our horse racing industry,” said Burzichelli (D-Gloucester/Cumberland/Salem), who recently authored a law aimed at decreasing New Jersey’s horse racing events but increasing purses at those races. “This is simply another option and another way to build interest in the races, which can only help the industry as we move forward with a more modern racing model for our state.”
Exchange wagering is defined as a form of betting in which two or more persons place directly opposing wagers on the outcome of a horse race.

Exchange wagering allows a bettor to wager on a selected outcome occurring, and another bettor to wager on that same outcome not occurring.
Those identically opposing wagers are matched when a bettor lays a selected outcome at the same price at which another bettor backs that same outcome, with the total amount subject to the lay being wholly commensurate to the total amount subject to the back.
Under the bill (A-2926), once the outcome of the race is determined, funds would be transferred from the exchange wagering account of the bettor who lost the wager to that of the bettor who won the wager, and applicable transaction or other fees would be levied by the exchange wagering licensee for use and distribution as provided by the commission’s rules and regulations.

For example, if the bill became law, people would be able to place bets not only on what horses might win the race, but on which ones may lose.
The bill would authorize the New Jersey Racing Commission to issue a license to the New Jersey Sports and Exposition Authority to establish an exchange wagering system. The issuance of the license is subject to the approval of the New Jersey Attorney General.

The bill also prescribes certain conditions for the establishment of the exchange wagering system, including, but not limited to, the requirement for:

• An exchange wagering account holder to be at least 18 years of age, and a resident of this state or of another United States jurisdiction within which the placement of wagers on the results of horse races would not be considered unlawful under the laws of that jurisdiction and federal law;
• Necessary documentation to be submitted by an applicant for an exchange wagering account in order to open the account and place wagers through the exchange wagering system;
• The types of credits and debits that may be made to an exchange wagering account by the authority and the account holder; and
• The manner in which wagers may be placed, in person, by direct telephone call, or by communication through other electronic media, as may be lawful under federal law and the laws of the account holder’s jurisdiction.