ass bet
Verb, To make use of services (or receive item) and have no intent on making payment or exchanging favor.
I'm gonna ass bet me sandwich from the deli, soon as he hands it over, i'm out!
Ass Betting
A term coined in urban penitentiaries. Meaning one who gambles without enough capital to cover his end. One who commits this offense in prison usually ends up having to pay with ass - His own. However in a street setting this usually results in a vicious beat down and/or loss of life.
Man, that nigga Sloan bet Rico $5000 on the next Saints game. He's Ass Betting fo' real. He couldn't even make rent this month! Rico 'finna get in that ass!
Ass Betting
Betting money that one doesn't have.
U keep Ass Betting and u won't make a very good reputation for yourself!