“Wagering Contracts in India: Legal Prohibitions, Exemptions, and Judicial Interpretations”

A wagering contract is an agreement between two parties where they bet on the outcome of an uncertain event.The Term Wagering has been derived from the term “wager”.Sir William Anson’s define “Wager” as a “promise to give money or money’s worth upon the determination or ascertainment of an uncertain event” The Concept of Wagering Contract has been defined and authored Widely:- According to Justice Hawkins (UK Case Law), 1A wagering contract is an agreement between two parties who hold opposing views about an uncertain event, wherein each party stands to gain or lose depending on the outcome of that event. According to S. Fildan & N.M. Stoicu 2A contract is classified as a wagering contract when neither party has an active role in influencing the event but instead places money on a potential outcome. According to P. Baxi & P. Iyer 3In Indian law, wagering contracts are declared void under Section 30 of the Indian Contract Act, 1872, meaning they have no legal enforceability.