Wagering - 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.
Source: http://www.law.cornell.edu/uscode/text/31/5362
Source: http://www.law.cornell.edu/uscode/text/31/5362
