A wagering agreement is a legal contract between two or more parties in which they agree to bet on the outcome of an event. We can use wagering agreements for a variety of purposes, including but not limited to gambling, sports betting, and predicting the winner of a contest. Wagering agreements are voidable contracts, meaning that either party can choose to back out of the agreement at any time. However, there are some circumstances in which a wagering agreement may be void from the beginning, such as if it is illegal or if one of the parties is not of legal age. If a wagering agreement is valid and enforceable, the court will typically require the parties to perform their obligations under the contract.