That's a gamble.

I've done that with my friends when we go from places to places just to play competitive games and have money on the line. That's normal for most of the games even in RPG games where there's PVP. I've seen people betting on who's the strongest.

Today, with most competitive games are online, it's easier to bet and have someone on their end that will just have to pay and sent the payment through online transfers or crypto, too easy to bet and play these days.