Gaming 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.
References in periodicals archive ?
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.
Since the Gaming Act of 1845, gambling contracts have not been legally enforceable.