Contracts Act · s 31

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s 31Agreements by way of wager void; exception in favour of certain prizes for horse racing

(1)

Agreements by way of wager are void; and no suit shall be brought for recovering anything alleged to be won on any wager or entrusted to any person to abide the result of any game or other uncertain event on which any wager is made.

(2)

This section is not deemed to render unlawful a subscription or contribution, or agreement to subscribe or contribute, made or entered into for or toward any plate, prize or sum of money, of the value or amount of $500 or upwards, to be awarded to the winner or winners of any horse race.

(3)

Nothing in this section is deemed to legalise any transaction connected with horse racing forbidden by any written law in force for the time being.