Wager
Definition 1 of 2
Pro Tip 1/3
Chance Element
'Wager' implies there's an element of chance involved, not skill alone. He placed a wager on the lottery, knowing it was all down to luck.
Pro Tip 2/3
Not Business
'Wager' is usually not used in formal business; it's more common in casual gambling contexts. They joked about making a wager on the business deal, but shook hands instead.
Pro Tip 3/3
Casual Agreements
'Wager' can mean casual bets among friends, not just formal gambling. We made a friendly wager on whether it would rain tomorrow.