Definition of Wagering contract
A
contract
which
is
of
the
nature
of
wager
.
Contracts
of
this
nature
include
various
common
forms
of
valid
commercial
contracts
,
as
contracts
of
insurance
,
contracts
dealing
in
futures
,
options
,
etc
.
Other
wagering
contracts
and
bets
are
now
generally
made
illegal
by
statute
against
betting
and
gambling
,
and
wagering
has
in
many
cases
been
made
a
criminal
offence
.
See also:
wager
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