Placed a bet, for example, on Down and got buried
I believe the answer is:
laid low
'down and got buried' is the definition.
I can't tell whether this definition defines the answer.
'placed a bet for example on' is the wordplay.
'placed' becomes 'laid' ('lay' can be a synonym of 'place').
'a bet for example' becomes 'low' (I can't justify this - if you can you should believe this answer much more).
'on' is a charade indicator (letters next to each other).
'laid'+'low'='LAID LOW'
Can you help me to learn more?
(Other definitions for laid low that I've seen before include "Brought down" , "Hid away" , "Put out of action by illness" , "Stricken" , "Indisposed" .)