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 ?
The gaming contracts that have been acquired are fully licensed and governed by the Georgia Lottery Corporation, and offer players a variety of skill-based coinoperated amusement machines.
The CMA has written to Nintendo Switch, PlayStation and Xbox requesting information about their online gaming contracts to help better understand their practices.
The lottery later asked retailers to voluntarily amend their existing video gaming contracts, reducing commission rates in exchange for expanding the game selection to include numerous slot machine variations.
In England, the Statute of Anne (1710) sought to constrain gambling by deeming that "all Notes, Bonds, Judgments, Bills, Mortgages, or other Securities or conveyances whatsoever" given for the payment of gambling debts were "void, frustrate, of none Effect to all Intents and Purposes." Similarly, the Gaming Act of 1845 renders gaming contracts void.