As a Noun: 1. The act of betting on something, or the amount of money you agree to give. English = bet. Formal English = wager. 2. The money that you have borrowed from someone and not yet paid back. English = debt. As a Verb or Adjective: 1. To make an agreement with someone that if what you say will happen does happen, they will give you a sum of money, and if you are wrong you will give them a sum of money. English = bet. Formal English = wager. 2. To have borrowed money from someone and to have not yet paid it back. English = owe.