Wise bet about online location (7)
I believe the answer is:
website
'online location' is the definition.
(I've seen this before)
'wise bet about' is the wordplay.
'about' indicates an anagram.
'wise'+'bet'='wisebet'
'wisebet' with letters rearranged gives 'WEBSITE'.
(Other definitions for website that I've seen before include "Online location" , "Internet address with prefix www" , "Internet pages" , "Internet location giving information" , "Wise bet on internet location" .)