Unrecoverable contract at law

(1) Subject to the provisions of the Lotteries Act, Cap.151, Computer Wagering Licensing Act, Cap.149 and the Gaming Control Act, Cap.152, all contracts or agreements, whether by parole or in writing, by way of gaming or wagering, shall be 11 (2) Subject to subsection (1) of this section, no suit shall be brought or maintained in any court of law or equity for recovering any sum of money or valuable thing alleged to be won upon any wager, or which shall have been deposited in the hands of any person to abide the event on which any wager shall have been made. (3) This enactment shall not be deemed to apply to any subscription or contribution, or agreement to subscribe or contribute, for or towards any plate, prize or sum of money to be awarded to the winners of any lawful game, sport, pastime or exercise.