gaming contract

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A contract involving the playing of a game of chance by any number of people for money or money's worth. A wagering contract is one involving two parties only, each of whom stands to win or lose something of value according to the result of some future event (e.g. a horse race) or to which of them is correct about some past or present fact; neither party can have any interest in the contract except his stake. In general, gaming and wagering contracts are by statute null and void and no action can be brought to recover any money paid or won under them.

Subjects: Law.

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