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/bet/ C2. an amount of money that you risk on the result of an event or a competition, such as a horse race: She had a bet on the race. place a bet He placed a bet on the grey horse.
Totals in sports betting are over/under numbers set on the total amount of combined (by both teams) points that will score in the game, say 40.5. Using this example, when you bet the over, you are wagering that more points (41 or more) will be scored than the total.