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1.
an invented term, from a village outside of edmonton. apparently it means that you bet but there is no wager on the line. this is the only place you will ever hear this term
nick: lets make a farmers bet on this
mel: a farmers what?
by melcor March 09, 2009
 
2.
A bet where no wager is made. Originated within the Ukrainian farming community in northern Alberta who were well known for their penny-pinching ways.
Michael: I think it's going to rain.
Ken: Want to make a farmer's bet on that?
Michael: Sure, no loss to me!
by chillywilly69 July 16, 2012