Bet

n. [A-S. bed, pledge, stake, badian, to pledge, pawn, wed, pledge, promise, weddian, to promise, make a contract; Goth. vadi, pledge, Ger. wette, bet, wager, wetten, to bet; Goth. vidan, to bind.] That which is laid, staked, or pledged, as between two parties, upon the event of a contest or any contingent issue; the act of giving such a pledge; a wager. “Having made his bets.” Goldsmith.

[imp. & p. p. BETTED; p. pr. & vb. n. BETTING.] To stake or pledge upon the event of a contingent issue; to wager.

John of Gaunt loved him well, and betted much upon his head. Shak.

Bĕt, the old participle of bet, is obsolete or vulgar. The word was also formerly used as a contraction of better.