Betting with gold creating stir abroad, once (7)
I believe the answer is:
spandau
'stir abroad once' is the definition.
(Spandau Prison in Berlin - stir can mean a prison)
'betting with gold' is the wordplay.
'betting' becomes 'sp'.
'with' becomes 'and'.
'gold' becomes 'Au' (Au is the chemical symbol for gold).
'sp'+'and'+'au'='SPANDAU'
'creating' is the link.
(Other definitions for spandau that I've seen before include "cage in Berlin" , "District of Berlin known for its prison" , "Former Berlin prison" , "old jug" , "-- Ballet, pop group" .)