The most common and most likely answer to this crossword clue is the 7 letter word YANKEES
I've seen this crossword clue in The Daily Telegraph
Y
A
N
K
E
E
S
More clues leading to the result YANKEES
- Code words on the radio for US baseball team
- Try to obtain vote against rebelling Union troops
- Foreigners going around Lima in D’Oyly Carte
- . Finally, achy joints long gone and new heart in baseball team
- Covering area, look for New York running back for New York team
- Americans heading west look for denial
- Americans pull and make out when going back
- Americans wise, according to police comms?
- Every fourth of July Canadians make the same mess as their neighbours
- Look for New York to contain a countering team from that city?
Buddy explains!
The straight part
We know that "bets" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case bets = yankees.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.