Wager vs Bet: The Difference
The easiest way to describe the difference between wager or bet is as follows: the former is an English term, the latter is an American one. However, that would be an oversimplification. These two terms have a similar but different meaning that you should learn so you can understand it. In formal terms, the difference between bet or wager is in the nouns and verbs.
- A wager is a term that describes something hazarded or deposited on an event or a contest. It’s also known as a pledge.
- A bet or a punt is a wager in an agreement between two parties, usually paid in money that will be paid by the loser to the winner upon settlement.
- When you compare them as verbs, the difference is more significant.
A wager is to bet something and put it as collateral, while a bet is to pledge or stake upon the outcome of an event.
As you can see, there are subtle differences between the terms. As mentioned earlier, the wager is more commonly used in UK betting, while the bet is popular in the USA and Europe. Of course, this means nothing for most bettors, who use the terms freely when they place a bet online.
