What is a Wager?
In betting, a wager is any bet, or any amount of money placed on an outcome as a bet. To wager means to put up cash or goods against another on the outcome of an event. Wagers appear in all kinds of sports betting and casino play. Any stake which a player puts up to be won or lost is called a wager. ‘Wager’ and ‘bet’ are interchangeable terms which mean the same thing and either can be used in place of the other.
‘To wager’ simply means ‘to bet’. A wager is an amount of money, or more rarely some service or item, which a bettor stakes on an outcome, either against the house or against another player – or sometimes both. The wager can be placed on a sports match, an entertainment event, a roulette spin, a poker or blackjack hand, a dice roll or just about any other outcome. Wagers can be informal, such as a challenge between friends with a forfeit or reward. They are more usually placed in the formal setting of a bookmaker or a casino.
Wagers might be placed on horses or greyhounds, or on sports teams. If the chosen competitor wins, the wager and a winning stake are returned to the player. They can also be placed on the chance of a dice roll, a card draw or even a spin on the slots reels. Wagers can refer to amounts of any size, though some games such as poker and slots set maximum and minimum wagers for each turn. The return to the player depends on the odds of the event that the wager was put up against, and can vary dramatically as a result. Many gamblers have their own strategies for placing wagers, including betting systems and statistical analysis techniques, for example.