Sports betting as a legal category
In Georgian law a sports bet is not a private contract — it falls within the legal regime of the totalizator, one of the types of profitable games. Under the statutory definition, the totalizator is a game conducted through players placing bets on the forecast of the outcome of a competition, a game or an event, the winnings depending on the size of the bet and the outcome. In sports betting this forecast concerns sporting results, but the legal construction is general. The interests of totalizator players are additionally secured through the prize fund, confirmed by a bank guarantee or an insurance policy.
One detail also matters: it is prohibited to organize a totalizator in cases where the result may be known in advance to one or both parties. This norm guarantees the fairness of the game and addresses the risks created by match-fixing.