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1. slap bet
A bet where no money or property is involved, and the prize for losing is getting to slap the loser across the face. Excellent for bets of extreme importance.
A slap bet is often monitored by a slap bet commissioner, that regulates the rules of said bet.
"Joe cried after he lost his slap bet"
"In a matter of this importance, only a slap bet will do"
2. slap bet
Bet made on an item of trivia in which the losing party gets the shit smacked out of their face.
A: I think it's clavicle.
B: It's definitely tibia.
A: Slap bet?
B: Sure. (They shake.)

Later:

C: A bone named after the Italian word for flute is tibia.

(B smacks the shit out of A)
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