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In modern pop culture, "bet" is a slang word used as a quick form of acknowledgement, usually in place of "OK." Players initially used the word as a way to acknowledge Harbaugh's three-game suspension due to Michigan's illicit sign-stealing scandal and to let people know they would be locked-in on proving their ...

The term bet  can be used in a few different ways, but generally means "agreed" or "okay". For example, if someone says "Wanna grab lunch later?" and the other person responds "Bet", it means they agree to the plan.

If the money is coming from professional bettors you want to bet with the money because it's considered "sharp" or "smart" money. If the money is coming from average Joes who are betting for fun, you want to be against the money because it's considered public or "square" money.

Smart money is capital placed in the market by institutional investors, market mavens, central banks, funds, and other financial professionals. Smart money also refers to the force that influences and moves financial markets, often led by the actions of central banks.