Crossword Genius

A bet backing English players (8)

Ross

I believe the answer is:

forecast

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'a bet' is the definition.
Although both the answer and definition are singular nouns, I don't understand how they can define each other.

'backing english players' is the wordplay.
'backing' becomes 'for' (I've seen this in another clue).
'english' becomes 'e' (abbreviation).
'players' becomes 'cast' (group of actors).
'for'+'e'+'cast'='FORECAST'

Can you help me to learn more?

(Other definitions for forecast that I've seen before include "Predict (event)" , "tip" , "Tell in advance what will happen" , "Divine" , "Meteorological surmise perhaps" .)

I've seen this clue in The Irish Times.
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