Can you summarize SDCL 53-9-2?

Short Summary

Any contract: (1)In which the whole or any part of the contractual consideration is money or other valuable consideration, won or lost as a result of the outcome of any game of any kind, under any name or by any means; or (2)In which the contract is for the repayment of money or other valuable consideration, lent or advanced, for the purpose of gambling in connection with any game, play, bet, or wager; is void to the extent that the consideration constitutes a gambling win or loss or is a loan or advance for the purpose of gambling. However, any contract where the creditor is a regulated lender as defined in 54-3-14 , or any other good faith lender, is not subject to this section. Source: SL 1907, ch 155, 3; RC 1919, 3929; SDC 1939, 24.0102; SL 2010, ch 230, 1.

Jurisdiction

South Dakota

Source

• Gaming