bettor
A person who risks money on the result of something.
A bettor is someone who makes a bet, which means risking money or something valuable on the outcome of an event they can't control. If you bet your friend a dollar that it will rain tomorrow, you're a bettor for that moment. Professional bettors might wager money on horse races, sports games, or other competitions, hoping their predictions prove correct.
The word simply describes the person making the bet, without judgment about whether betting is wise or foolish. In casual contexts, people might bet on silly things: “I bet you can't eat that whole pizza” or “I bet the Cubs win today.” In these cases, bettor describes anyone who makes the wager.
Notice the spelling: bettor has two t's, which distinguishes it from better (the comparative form of good). A bettor who makes smart predictions might be a better bettor than someone who bets carelessly, but they're spelled differently.