Source: https://definitions.uslegal.com/b/bet-or-wager/
Timestamp: 2018-04-27 02:30:51
Document Index: 133097878

Matched Legal Cases: ['§ 5362', '§ 3702', '§ 78', '§ 78', '§ 1', '§ 1', '§ 16', '§ 78', '§ 3701']

Bet or Wager Law and Legal Definition | USLegal, Inc.
Bet or Wager Law and Legal Definition
According to 31 USCS § 5362 (1), the term bet or wager--
"(A) means the staking or risking by any person of something of value upon the outcome of a contest of others, a sporting event, or a game subject to chance, upon an agreement or understanding that the person or another person will receive something of value in the event of a certain outcome;
(C) includes any scheme of a type described in section 3702 of title 28 [28 USCS § 3702];
(i) any activity governed by the securities laws (as that term is defined in section 3(a)(47) of the Securities Exchange Act of 1934 [15 USCS § 78c(a)(47)] for the purchase or sale of securities (as that term is defined in section 3(a)(10) of that Act [15 USCS § 78c(a)(10)]);
(ii) any transaction conducted on or subject to the rules of a registered entity or exempt board of trade under the Commodity Exchange Act [7 USCS §§ 1 et seq.];
(I) is excluded or exempt from regulation under the Commodity Exchange Act [7 USCS §§ 1 et seq.]; or
(II) is exempt from State gaming or bucket shop laws under section 12(e) of the Commodity Exchange Act [7 USCS § 16(e)] or section 28(a) of the Securities Exchange Act of 1934 [15 USCS § 78bb(a)];
(ix) participation in any fantasy or simulation sports game or educational game or contest in which (if the game or contest involves a team or teams) no fantasy or simulation sports team is based on the current membership of an actual team that is a member of an amateur or professional sports organization (as those terms are defined in section 3701 of title 28 [28 USCS § 3701]) and that meets the following conditions:
(bb) solely on any single performance of an individual athlete in any single real-world sporting or other event."
Beta [Finance]
Beta-Test Agreement