NJ S2351

Authorizes the New Jersey Racing Commission to allow wagering on previously-recorded live horse races at licensed racetracks and off-track wagering facilities, where the actual race identity (date, location, horse/rider names) is not disclosed to bettors

Sets a maximum takeout rate of 20% on wagers, distributed as: 62% to permit holders, 15% to purses, 15% to race technology fees, 5% to breeder/Sire Stakes awards, and 3% to simulcasting and video usage fees

Imposes a 1.5% excise tax on all previously-recorded live race wagers, with revenues allocated to public employee retirement (1.2%), Racing Commission operations (0.1%), equine drug testing (0.1%), Rutgers Equine Science Center (0.05%), and higher education equine programs (0.05%)

Requires the Racing Commission to establish regulations ensuring wagering security, preventing minor access, verifying race information accuracy, and approving electronic pari-mutuel wagering terminals

Permits commingling of previously-recorded live race wagers into interstate common pools and allows purse funds to be redirected to other racing/breeding industry purposes through agreements between permit holders and horsemen's associations