need help on this sentence

[mranhkhoa]

I'm from Vietnam. I'm learning English. I need help on the sentence I got from Casino Royale film:

"With their prototype destroyed, the company would be near bankruptcy. Instead, somebody lost over $100 milion betting the wrong way."

Even I can understand this sentence, I don't know what the bold text "betting the wrong way" function as. Does it function as adjective modifying $100 milion ?

Thank you very much!

[susiedqq]

"With their prototype destroyed, the company would be near bankruptcy. Instead, somebody lost over $100 milion betting the wrong way."

This tells HOW somebody lost the money. (adverb)

[mranhkhoa]

Originally Posted by susiedqq

"With their prototype destroyed, the company would be near bankruptcy. Instead, somebody lost over $100 milion betting the wrong way."

This tells HOW somebody lost the money. (adverb)

I'm not sure but I think "betting the wrong way" is gerund phrase. According to what I knew gerund phrase can not function as adverb.

[Soup]

Dear mranhkhoa, there are two ways to look at it:

[1]adjectival phrase
Instead, somebody betting the wrong way lost over $100 milion.
=> modifies the noun somebody

[2] Gerundival phrase
Instead, somebody lost over $100 million (by) betting the wrong way.
=> functions as the object of the elided preposition by

Note, it's the phrase by betting the wrong way that functions adverbially, not the gerundival phrase.