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Gaming Contract
(redirected from Wagering contract)

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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.
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Such consent is persuasive, "further vindicat[ing] the public policy designed to prevent wagering contracts on which the insurable interest rule is grounded" (Dou, Chem.
Employer has insurable interest in employees by O'Driscoll, David / The Tax Adviser
Network Plans Major Reallocation of Television Programming and Wagering Contributions LOS ANGELES -- TVG, America's Horseracing Network, announced today that it has discontinued negotiations on extending its television and advance deposit wagering contract with Churchill Downs Incorporated ("CDI").
TVG Halts Negotiations with Churchill Downs by Business Wire
The Sixth Circuit, however, dismissed the notion of a wagering contract by determining that there was a valid life insurance contract under state law.
Taxation of corporate-owned life insurance policy proceeds payable to ... by Headley, Richard A. / The Tax Adviser
 
 
 
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