Betting chilled, being seasoned (6)
I believe the answer is:
spiced
'being seasoned' is the definition.
(I've seen this before)
'betting chilled' is the wordplay.
'betting' becomes 'sp'.
'chilled' becomes 'iced' (icing is a kind of chilling).
'sp'+'iced'='SPICED'
(Other definitions for spiced that I've seen before include "Given more flavour" , "Treated with things that add zest, as to food" , "Flavoured with, eg, mace" , "given a smack" , "Flavoured with such as nutmeg" .)