Excited having bet put on ace (8)
I believe the answer is:
aflutter
'excited' is the definition.
(similar in meaning)
'bet put on ace' is the wordplay.
'bet' becomes 'flutter' (to have a flutter is to put a bet on).
'put on' says to put letters next to each other (some letters go on or after others).
'ace' becomes 'a' (abbreviation).
'flutter' after 'a' is 'AFLUTTER'.
'having' acts as a link.
(Other definitions for aflutter that I've seen before include "Nervous, twitchy" , "trembling" , "is rather nervous" , "Agitated - excited (eg in anticipation)" , "in excited state" .)