In India, the enforceability of contingent and wagering contracts is governed by the Indian Contract Act, 1872, but they are treated differently in law.

Contingent Contracts (Sections 31–36):
A contingent contract is one where the performance depends on the happening or non-happening of a future uncertain event (not part of the contract itself). These are valid and enforceable under Indian law, provided the condition occurs. For example, a contract to pay someone if a ship arrives safely is enforceable if the ship does arrive. However, if the contingent event becomes impossible, the contract becomes void.

Wagering Contracts (Section 30):
A wagering contract is a contract based purely on chance, where neither party has a genuine interest in the subject matter except winning or losing money depending on the outcome. Such contracts are void in India and not enforceable by law. For example, betting on the result of a cricket match is a wager and cannot be enforced in court. However, wagering contracts are not illegal (except in some states like Gujarat and Maharashtra), meaning that while the courts will not enforce them, entering into them is not a punishable offence.

In India, contingent contracts are generally enforceable by law if the specified uncertain event occurs or becomes impossible, while wagering agreements are void and unenforceable. Contingent contracts, as defined under Section 31 of the Indian Contract Act, 1872, involve a promise to do or not do something if a collateral uncertain future event happens or doesn't happen. Wagering agreements, on the other hand, are agreements where the promise to pay or deliver something is conditional on the outcome of an uncertain event, and where the parties have no other interest in the event except for the gain or loss of the stake.
Contingent Contracts:
Enforceability:
Contingent contracts are valid and can be enforced by law once the uncertain event occurs or becomes impossible.
Key Feature:
The uncertain event is collateral to the main purpose of the contract.
Examples:
An agreement to buy a horse if the buyer survives a specific person, or an agreement to pay if a shipment arrives by a certain date.
Section 32:
If the contract is contingent on an event happening, it can be enforced when the event happens.
Section 33:
If the contract is contingent on an event not happening, it can be enforced when it becomes certain that the event will not happen.
Section 35:
If the contract is contingent on an event not happening within a fixed time, it can be enforced once the time expires and the event has not happened, or if it becomes certain before the time expires that the event will not happen.
Wagering Agreements:
Enforceability:
Wagering agreements are void and unenforceable from the very beginning, meaning courts will not assist in recovering winnings or enforcing payment.
Key Feature:
The uncertain event is the sole determining factor of the agreement, and the parties are only interested in winning or losing the stake.
Examples:
Agreements to bet on the outcome of a game, or on the happening of a future event where the parties have no other interest.
Section 30:
Wagering agreements are specifically declared void by law.