Gaming Contract

(redirected from Wager Contract)

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 ?
According to Article 2266 Civil Code, for certain games and betting categories organized in consideration of the state monopoly, the act derogates from the common legislation rule, according to which the game or wager contract is not mandatory and therefore there is no court action for the winner to demand his/her gains.
Limbaugh, Note, Life Insurance as Security [or a Debt and the Applicability of the Rule Against Wager Contracts, 64 MO.
5 million of their own money in financial wager contracts based on the group's share price performance over four years.
Four directors, including chief executive Simon Wolfson, are investing in financial wager contracts based on the group's share price over four years.