Bet on squiggle representing an American dandy? (6-6)

I believe the answer is:

yankee-doodle

'an american dandy?' is the definition.
(as in the song Yankee Doodle Dandy)

'bet on squiggle' is the wordplay.
'bet' becomes 'yankee' (type of bet in gambling).
'on' means one lot of letters go next to another (in a down clue, letters appear on others).
'squiggle' becomes 'doodle' (drawing).
'yankee'+'doodle'='YANKEE-DOODLE'

'representing' is the link.

I've seen this clue in The Guardian.

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