The most common and most likely answer to this crossword clue is the 8 letter word WAGERING
I've seen this crossword clue in The Guardian
W
A
G
E
R
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G
More clues leading to the result WAGERING
Buddy explains!

The straight part
We know that "Betting" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case betting = wagering.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does WAGERING mean?
WAGERING verb- To bet something; to put it up as collateral
- To suppose; to dare say.
- An amount wagered.