bet on vs wager

bet on is not a noun while wager is a noun.

Word	Noun	Adjective	Verb	Adverb
bet on	No	No	Yes	No
wager	Yes	No	Yes	No

As verbs, wager is a hypernym of bet on; that is, wager is a word with a broader meaning than bet on:

Other hypernyms of bet on include bet, play.

bet on (noun)	wager (noun)
	the act of gambling
	the money risked on a gamble

bet on (verb)	wager (verb)
place a bet on	maintain with or as if with a bet
	stake on the outcome of an issue