Intoxicated, so Ted bet foolishly (8)
I believe the answer is:
besotted
'intoxicated' is the definition.
('besotted' can be similar in meaning to 'intoxicated')
'so ted bet foolishly' is the wordplay.
'foolishly' is an anagram indicator.
'so'+'ted'+'bet'='sotedbet'
'sotedbet' with letters rearranged gives 'BESOTTED'.
(Other definitions for besotted that I've seen before include "Head over heels in love" , "Infatuated, mentally intoxicated" , "Showing foolish fondness" , "Doting" , "Bested to become infatuated" .)