Crossword Genius

Betting, using a pay-phone (8)

Ross

I believe the answer is:

wagering

'betting' is the definition.
('wager' can be a synonym of 'bet')

'a pay-phone' is the wordplay.
'a pay' becomes 'wage' ('wage' can be a synonym of 'pay').
'phone' becomes 'ring' ('ring' can be a synonym of 'phone').
'wage'+'ring'='WAGERING'

'using' acts as a link.

(Other definitions for wagering that I've seen before include "Betting" , "better operation" .)

I've seen this clue in The Telegraph and The Guardian.
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