Student or Learner
1) What does the bet loser have to do??? Lose money or have to do something?
2) What is the bet about and what does the loser have to do or lose?
Simply: What are the terms of the bet?
I'm not a teacher, but I write for a living. Please don't ask me about 2nd conditionals, but I'm a safe bet for what reads well in (American) English.