Webster's English Dictionary

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bet

1. bet \'bet\ n [origin unknown] 1a: something that is laid, staked, or 
   pledged typically between two partie s on the outcome of a contest or any 
   contingent issue : WAGER 1b: the act of giving such a pledge  2: something 
   to wager on 
2. bet vb or bet or bet.ted;  or bet.ting 1: to stake on the outcome of an 
   issue  2a: to maintain with or as if with a bet  2b: to make a bet with  : 
   to lay a bet