What does wagering entail in a tournament setting?

Wagering in a tournament setting refers to the practice of betting on the outcomes of matches, which can include placing bets on any player, not just those in one's own match. This means that participants can stake money or other items of value on the victory or loss of any match outcome, which typically goes against the policies of organized play within official tournament rules.

This option reflects the comprehensive nature of wagering, highlighting that it is not limited to personal matches and encompasses all possible outcomes within the event. Other answers do not capture the complete essence of wagering in a tournament context: only betting on one’s own matches is too restrictive, providing rewards for winning matches does not involve betting, and stating that wagering is not applicable dismisses its presence entirely in competitive environments.