Top Definition
When betting at Monticello Raceway (a harness racetrack built in 1958 in the Catskill Mountains of New York) if there was a horse that "could not lose", the bettors would say to "bet the bungalow" on him. The Catskill mountains was a resort area consisting of many hotels and Bungalow colonies. A bungalow was a seasonal type "house" for a family from New York city and the surrounding areas to live in during the summer months. So if you "bet the bungalow" on one horse in a race, you were really betting all the money you had !
Big Joe says " The 3 horse in the 1st race cannot lose !"
Mike Bagels says " I'm going to bet the bungalow on # 3" as he pulls out all $178 dollars out of his pocket and gives it to the teller at Monticello Raceway in exchange for a winning ticket.
by Betthebungalow June 22, 2014
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