What is "wagering"

wager \wa"ger\, v. t. [imp. & p. p. wagered (w[=a]"j[~e]rd); p. pr. & vb. n. wagering.] To hazard on the issue of a contest, or on some question that is to be decided, or on some eventuality; to lay; to stake; to bet.

And wagered with him Pieces of gold 'gainst this which he wore.
--Shak.

n. An amount wagered. vb. (present participle of wager English)