Wagering Agreement Law
A cricket match between India and South Africa is set to start in Hyderabad. If India wins the match, A agrees to pay B Rs. 500, while B, if South Africa wins the match, agrees to pay the rule 500 to A. It is a betting agreement. In that case. Each game has the chance to win or lose. Here, the gain of one party will be the loss of the other and vice versa. Since a betting contract is an inconclusive contract, some exceptions are as follows: for an agreement to be a betting agreement, it is necessary that the object of the contract depends on an uncertain event. In the case of Jethmal Madanlal Jokotia v. Nevatia & Co (1962), it was found that although a bet is usually an upcoming event, it is also an event that took place in the past, but the parties were not aware of its outcome or the date of its action. And even if we talk about the exception, not only horse racing, there are so many other games based on skill and only on skills, and in all these games, the person who bets could know the skills of the player he is betting on, and here the concept of uncertainty of the future can decrease, because he knows how the player will play and that the essential element of betting, which are uncertainty, will decrease. And so cricket and other sports can be considered skills-based sports and only luck-based, but Article 30 of the ICA, did not exclude any sport other than horse racing, which makes the definition very narrow, there are changes that need to be made to increase the range of sports that this definition covers. Consequently, it must be stated that the contracts concluded by the applicant with third parties on behalf of the defendant were betting contracts between the applicant and those third parties.
[43] It has been established that the agreement cannot be considered one of the legal bets. In this case, neither team had to lose after the result of the fight. „The stakes did not come from the pockets of the parties, but had to be paid for by the money from the door provided by the public.” [17] And finally, after considering the entire betting agreement, there are a few, there are still a few flaws to be resolved. . . .
