I admit it, I blew it when I tried explaining Single Pool Wagering. I came upon this article which goes into a much better, and correct description of single pool wagering. Just click on this article for a better description of the system.
As I mentioned before, just because New Jersey legalized Single Pool Wagering, doesn't mean it is going to happen. With common pool wagering, each jurisdiction which wagers into a New Jersey pool would have to approve it before the wagers can be comingled. It is going to take a lot of explaining and forward thinking to have regulators accept the fact money wagered on one wager may be used to fund another wager and vice versa.
Another One Bites the Dust: Suffolk OTB has begun the process to go into Chapter 9 Bankruptcy. They intend to continue operating, but that was the intent of NYC OTB. We'll see who is next?