• Nikitha Dutt

This paper initially begins with defining the term “wagering”. Wagering transactions or wagers are agreements signed between the parties on the basis or condition that, money or some decided amount of rupees is owed by the first party to the second party on the occurrence or happening of a potential unknown incident or event, and similarly, by the second party to the first party when the event or incident does not occur or take place. Further, the paper deals with the essentials and effects of wagering with respect to the Indian Contract Act, 1872. With respect to a wagering transaction, there should be a shared or an equal risk of profits and losses. Parties engaged or involved in a wagering transaction collectively and mutually agree upon the nature of the agreement that is to be won by either side. The paper concludes while giving some suggestions and recommendations which are required to be implemented within the current legislation, in order to control or curb the existence or prevalence of such sort of agreements within the Indian market. It is a wagering deal, where one of the party can win but not lose, or can lose but not win. The nature of a wagering agreement is that, none of the parties involved have any stake or interest in the transactions, other than the money it gains or losses.

Agreement; Contract; Indian Contract Act, 1872; Section 30; Wagering; Wager.

"The Concept of Wagering Agreements under the Indian Contract Act, 1872", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 3, page no.593-598, March-2019, Available :http://www.jetir.org/papers/JETIREW06079.pdf

"The Concept of Wagering Agreements under the Indian Contract Act, 1872", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 3, page no. pp593-598, March-2019, Available at : http://www.jetir.org/papers/JETIREW06079.pdf