Is “Bets” a Scrabble word?

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Yes
BETS
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Unavailable

Meaning of Bets

/bɛts/

noun
  1. 1.A wager, an agreement between two parties that a stake (usually money) will be paid by the loser to the winner (the winner being the one who correctly forecast the outcome of an event).

    Dylan owes Fletcher $30 from an unsuccessful bet.

  2. 2.A degree of certainty.

    It’s a safe bet that it will rain tomorrow.

verb
  1. 1.To stake or pledge upon the outcome of an event; to wager.

  2. 2.To be sure of something; to be able to count on something.

    Fancy going for a drink after work? You bet I do!

  3. 3.To place money into the pot in order to require others do the same, usually only used for the first person to place money in the pot on each round.