Bet History
1590s, 'pledge as a forfeit to another who makes a similar pledge in return,' originally in the argot of petty criminals, a word of unknown origin; see bet (n.), which appeared about the same time. Intransitive sense of 'lay a wager' is from c. 1600. Used since mid-19c. in various American English slang assertions (bet your life, 1848; bet your boots, 1856; you bet 'be assured,' 1857, identified in Century Dictionary as 'originally California slang').
Bet History
bet (n.)
The origin of gambling is considered to be divinatory: by casting marked sticks and other objects and interpreting the outcome, man sought knowledge of the future and the intentions of the gods. From this it was a very short step to betting on the outcome of the throws. The Bible contains many references to the casting of lots to divide property. A straight bet is an individual wager based on the outcome of a single event. Straight bets include spreads, moneylines, and totals (also called over/unders). A straight bet covers when the bettor wins and the bet pays out. Certain straight bets can also push, meaning the bet is a tie. In those cases, the bettor receives his wager back, but.
1590s, 'the mutual pledging of things of value to be won or lost based on some future event,' appearing simultaneously with the verb, originally in the argot of petty criminals, a word of unknown origin. Perhaps a shortening of abet or else from obsolete beet 'to make good' (related to better). The original notion is perhaps 'to improve' a contest by wagering on it, or to encourage a contestant. Or perhaps the word is from the 'bait' sense in abet. Meaning 'that which is wagered' is from 1796.
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