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Wager

Wager, a contract by A. to pay money to B. on the happening of a given event, in consideration of B. paying money to him on the event not happening; and see the elaborate definition of 'wagering contract' in Carlill v. Carbolic Smoke Ball Co., (1892) 2 QB 490, by Hawkins. J.1. Money or other consideration risked on an uncertain event; a bet or gamble 2. A promise to pay money or other consideration on occurrence of an uncertain event, Black's Law Dictionary, 7th Edn., p. 1573.At Common Law a wager was a legal contract, which the courts were bound to enforce, so long as it was not against morality, decency, or sound policy, Johnson v. Lumley, (1852) 12 CB 468. But by the (English) Gaming Act, 1845, s. 18:All contracts or agreements, whether by parol or in writing, by way of gaming or wagering, shall be null and void; and no suit shall be brought or maintained in any court of law or equity for recovering any sum of money or valuable thing alleged to be won upon any wager, or which shall ...