At home, wager small note with others on each side (2,7)
I believe the answer is:
in between
'with others on each side' is the definition.
(in between other things)
'at home wager small note' is the wordplay.
'at home' becomes 'in' ('I'm in' can mean 'I'm at home').
'wager' becomes 'bet' (synonyms).
'small' becomes 'wee' (Scottish term for small).
'note' becomes 'n' (abbreviation).
'in'+'bet'+'wee'+'n'='IN-BETWEEN'
(Other definitions for in between that I've seen before include "within limits" , "halfway house" , "Negotiator" , "Avoiding extremes" , "Transitional" .)