Gaming Contract

(redirected from Gambling Contracts)

Gaming Contract

A contract in which participants agree to play a game of chance. For example, if two friends make a bet on who will win the World Series, they have entered a gaming contract and the loser is obliged to pay the winner the agreed-upon amount. However, a gaming contract may not be enforceable in a jurisdiction where gambling is illegal.
References in periodicals archive ?
Since the Gaming Act of 1845, gambling contracts have not been legally enforceable.
ignores the fact that Recommendation 26, in relation to this type of dispute, "assumes that gambling contracts will be deemed to be commercial consumer contracts", a questionable assumption which, if incorrect, may bring matters to a standstill.
This should mean that gambling contracts will be deemed to be consumer contracts in the same way that other commercial transactions are.
72) However, gambling contracts authorised by the Gambling Act 2003 are now enforceable.
Manila President Benigno Aquino has accepted the explanation of the head of a gaming regulatory office who was implicated in a US case filed by a Las Vegas gambling firm accusing its former Japanese partner of bribery to gain gambling contracts in the Philippines.
Principal Trading Standards officer Jim McCluskey said: "In September 2007, gambling contracts became legally enforceable.