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1. A wager on the outcome of an event not normally gambled on
2. A wager with someone that he/she will/won't do some task
3. A side bet during a poker game, i.e. a wager outside the normal betting process of the game.
Poker pro Ted Forrest once won a $7,000 prop bet that he couldn't run a marathon on a 115-degree day in Las Vegas.
prop bet by Jeff_P May 17, 2006
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Facebook Bet 

When two friends make a bet. Instead of the loser having to pay money, they have to change their Facebook profile picture. However, they do not change it to just any picture. The loser of the bet signs on to Facebook and goes to their profile page. On the left side of the page are pictures of 6 friends (pictures are in a 2 by 3 rectangle). The loser then must change their profile picture to who ever popped up in the left upper-most corner of the 2 by 3 rectangle of friends. They must keep the picture for some pre-set amount of time.

The loser has one "page refresh" so they can they have a second chance of who pops up in the friends box.
Durn, I lost Bruno's Facebook Bet and then I had to change my profile picture to this girl I literally just met the other night. She probably thinks I am a huge creep. The worst part was that all my close friends kept commenting on it and "liking" it so that everyone would see.
Facebook Bet by 7Raulpie September 26, 2010
Related Words
bethany beta Beth bettys beta male Betch bethan Betsy Bethesda better
When a dumbass is texting you and you come here to look it up trust me I don’t know ethier
Hey wanna fametime later
Alr bet”

WHAT THE FUCK DOES THAT MEAN WHY DO I HAVE TO BET
alr bet by Swifterdolan May 11, 2018

Gentleman's Bet 

A wager on principle rather than for significant amounts of money.
A typical Gentleman's Bet will be for no money or a nominal sum (e.g., $1) with the "prize" of being correct going to the winner. Think of Trading Places and the bet the Duke brothers made.
Gentleman's Bet by thesellman April 16, 2014

Gazillion Dollar Bet

One announces the phrase "Gazillion Dollar Bet", when they are so sure about something, that they would be willing to bet a whole one Gazillion (a lot) dollars on it.
Gazillion Dollar Bet can be implied to any statement, claim or competition.

Upon recieving the challenge of a Gazillion Dollar Bet, the betee must either back down to the beter's terms, or accept the Gazillion Dollar Bet.

A Gazillion dollars cannot be repaid easily, and this term should not be used lightly.
The loser of a Gazillion Dollar Bet shall forever be indebted unto the person they lost the Gazillion Dollar Bet to, untill the loser of the initial Gazillion Dollar Bet wins a Gazillion Dollar Bet against the initial winner. Or, in the miraculous case that the loser of the Gazillion Dollar Bet has a Gazillion dollars, payment of the owed Gazillion dollars is an acceptable settlement of the Gazillion Dollar Bet.

In both cases, the debts shall then revert back to no dollars owing from either party.
Dude, how sweet is Anakin Skywalker's plait behind his ear in Star Wars III?
Dude, you're such a Gronk; Anakin has the plait in Star Wars II.
Bullshit, I'm sure he has it in number three.
Gazillion Dollar Bet?
Done.

In this scenario, the accuséd Gronk would lose a Gazillion dollars, for everyone knows Anakin has the plait in the second movie.

Spotto! (Punches Boyfriend)
What the hell, as if that car was yellow!
Gazillion Dollar Bet?
How can we ever resolve that?
Mmm true.

In this situation, the Gazillion Dollar Bet is void for it could never be truly resolved.

Note: in no way does the author of this document or his/her associates and/or proprietors endorse the undertaking of gambling and/or punching of boyfriends.
Gazillion Dollar Bet by Husuf March 26, 2010

you bet your ass 

means you can be absolutely sure
Don't you love the other chick?
you bet your ass I do.
you bet your ass by THEBEDBUG October 20, 2015
A response used to show gratitude and or interest in said topic
Dude, let’s get lit
“Big Bet”
Big Bet by Big Bet December 13, 2017