The difference between Lay odds and Wager
When used as verbs, lay odds means to offer a bet in which one stands more to lose than the opponent, whereas wager means to bet something.
Wager is also noun with the meaning: something deposited, laid, or hazarded on the event of a contest or an unsettled question.
check bellow for the other definitions of Lay odds and Wager
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Lay odds as a verb:
To offer a bet in which one stands more to lose than the opponent; or a bet in some other way favourable to the opponent.
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Lay odds as a verb:
To feel certain about something.
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Wager as a noun:
Something deposited, laid, or hazarded on the event of a contest or an unsettled question; a bet; a stake; a pledge.
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Wager as a noun:
That on which bets are laid; the subject of a bet.
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Wager as a noun (legal):
A contract by which two parties or more agree that a certain sum of money, or other thing, shall be paid or delivered to one of them, on the happening or not happening of an uncertain event.
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Wager as a noun (legal):
An offer to make oath.
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Wager as a verb (transitive):
To bet something; to put it up as collateral
Examples:
"I'd wager my boots on it."
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Wager as a verb (intransitive, figuratively):
To suppose; to dare say.
Examples:
"I'll wager that Johnson knows something about all this."
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Wager as a noun:
Agent noun of wage; one who wages.