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.
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Limbaugh, Note, Life Insurance as Security [or a Debt and the Applicability of the Rule Against Wager Contracts, 64 MO.
Spin-life insurance policies: a dizzying effect on human dignity and the death of life insurance
5 million of their own money in financial wager contracts based on the group's share price performance over four years.
Next's bosses betting on bright future
Four directors, including chief executive Simon Wolfson, are investing in financial wager contracts based on the group's share price over four years.
Record Business Insider: Bosses place Next bet
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