wager
n. countable B2 Upper Intermediate US //ˈweɪdʒɝ// UK //wˈeɪdʒɐ// wa·ger
n. an agreement to risk money on the result of a race, game, or event. You make a wager when you bet on who will win.
n. an agreement under which money or another stake is risked on the outcome of an uncertain event. Often used in legal or formal contexts as a synonym for a bet.
He placed a small wager on the horse race.
The two friends made a friendly wager on which team would score the first goal of the season.
In many jurisdictions, a wager is only legally enforceable if it is conducted through a licensed betting operator rather than a private arrangement between individuals.
Usage
Commonly used with the verbs 'make', 'place', or 'lay'.