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bet (v.)

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 (n.)

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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Definitions of bet from WordNet
1
bet (v.)
maintain with or as if with a bet;
I bet she will be there!
Synonyms: wager
bet (v.)
stake on the outcome of an issue;
I bet $100 on that new horse
Synonyms: wager / play
bet (v.)
have faith or confidence in;
You can bet on that!
Synonyms: count / depend / swear / rely / bank / look / calculate / reckon
2
bet (n.)
the money risked on a gamble;
Synonyms: stake / stakes / wager
bet (n.)
the act of gambling;
he did it on a bet
Synonyms: wager
From wordnet.princeton.edu