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When gambling on an event whether it be a card game, at a casino, at a race track, etc., two or more people may choose to place a seperate bet away from the main pool of betting.
Lets say Joe, Bob, Chris, Tom, and Becky are playing a card game and they are all betting $10 a hand. Tom and Joe may get a little extra competitive and decide to place a side bet between just the two of them. They will bet the originally agreed upon $10 on a game with everyone at the card table involved and they will bet, lets say another $25 just between the two of them.
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An A-B conversation someone Cs they self into
Jacob was getting in his girlfriend Alisha's head for something stupid she did and her friend Taylor standing by listening, opened her mouth and started side betting in Alisha's defense.