The most common and most likely answer to this crossword clue is the 6 letter word BETTER
B
E
T
T
E
R
Buddy explains!

The straight part
We know that "Not so bad/I’ll wager" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case not so bad/i’ll wager = better.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 BETTER mean?
BETTER noun- An entity, usually animate, deemed superior to another; one who has a claim to precedence; a superior.
- Greater in amount or quantity
- (of people)
- (of capabilities)
- (properties and qualities)
- (when with and) Very, extremely. See good and.
- Holy (especially when capitalized) .
- (of quantities)
- In good health.
- Good, content.
- Prudent; good; well-advised.
- (manner) Accurately, competently, satisfactorily.
- (manner) Completely, fully.
- (degree) To a significant degree.
- (degree) Very (as a general-purpose intensifier).
- In a desirable manner; so as one could wish; satisfactorily; favourably; advantageously.
- To improve.
- To become better; to improve.
- To surpass in excellence; to exceed; to excel.
- To give advantage to; to support; to advance the interest of.
- (with bare infinitive) Should; ought to; need to; must.
- A person who makes a bet, such as a wager on the outcome of a game of chance or a sporting event.