A bet or wager placed against another person's bet, essentially betting on the opposite outcome.
From 'counter-' (opposite) and 'wager,' from Old North French 'wagier' (to pledge). Gaming terminology developed this to describe opposing bets.
In sports betting, when a bookmaker takes counterwagers on both sides, they're essentially playing both teams against each other—they profit regardless of the outcome, making them the house that always wins.
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