handicap bet vs wager

handicap bet and wager both are nouns.

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

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

handicap bet: a bet on a weaker competitor that is given a head start by a bookmaker.
wager: the act of gambling

Other hypernyms of handicap bet include bet.

handicap bet (noun)	wager (noun)
a bet on a weaker competitor that is given a head start by a bookmaker.	the act of gambling
	the money risked on a gamble

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