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Legal Terms - gaming contract
A contract pertaining to the participation in a game of chance by multiple individuals for monetary or equivalent value. A wagering contract involves two parties, each of whom risks something of value based on the outcome of a future event (e.g., a horse race) or the accuracy of their claims regarding a past or present fact; neither party possesses any interest in the contract beyond their stake. Generally, gaming and wagering arrangements are rendered null and void by statute, and no legal action may be initiated to recover any funds paid or won under such agreements
A contract pertaining to the participation in a game of chance by multiple individuals for monetary or equivalent value. A wagering contract involves two parties, each of whom risks something of value based on the outcome of a future event (e.g., a horse race) or the accuracy of their claims regarding a past or present fact; neither party possesses any interest in the contract beyond their stake. Generally, gaming and wagering arrangements are rendered null and void by statute, and no legal action may be initiated to recover any funds paid or won under such agreements
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