BET

An agreement between two or more persons that a sum of money or other valuable thing, to which all jointly contribute, shall become the sole property of one or some of them on the happening in the future of an event at present uncertain, or according as a question disputed between them is settled in one way or the other. Harris v. White, 81 N. T. 532; Rich v. State, 38 Tex. Cr. R> 199, 42 S. W. 291, 38 L. R. A. 719; Jacobus v. Hazlett, 78 111. App. 241; Shaw v. Clark, 49 Mich. 384, 13 N. W. 786, 43 Am. Rep. 474; Alvord v. Smith, 63 Ind. 62. Bet and wager are synonymous terms, and are applied both to the contract of betting or wagering and to the thing or sum bet or wagered. For example, One bets or wagers, or lays a bet or wager of so much, upon a certain result. But these terms cannot properly be applied to the act to be done, or event to happen, upon which the bet or wager is laid. Bets or wagers may be laid upon acts to be done, events to happen, or facts existing or to exist The bets or wagers may be illegal, and the acts, events, or facts upon which they are laid may not be. Bets or wagers may be laid upon games, and things that are not games. Everything upon which a bet or wager may be laid is not a game. Woodcock v. McQueen, 11 Ind. 16; Shumate v. Com., 15 Grat 660; Harris v. White, 81 N. T. 539.