ELI5: Explain Like I'm 5

Side stake

Okay, imagine you and your friend are having a race. You both think you'll win, but you want to make it more interesting. So, you make a bet with your friend. You both put some of your own money on the line, and whoever wins the race gets to keep all of it. This is called a side stake.

Basically, a side stake is a bet that two or more people make on the outcome of something. It's called a "side" stake because it's separate from any other bets or wagers that might be happening.

Side stakes can be used in all sorts of situations, not just races. For example, if you and your brother are playing a game of cards, you might make a side stake to see who can win the most rounds. Or, if you and your friends are watching a game on TV, you might make a side stake on which team will win.

The important thing to remember about side stakes is that they're agreements between people. You can't just declare that there's a side stake and expect everyone to go along with it. Everyone involved in the bet needs to agree to the terms of the side stake.

And of course, it's important to remember that gambling can be risky. You should never bet more money than you can afford to lose, and you should never pressure someone else into making a bet they're not comfortable with.