a person who bets.
Also, better.

1600–10; bet + -or2

better, bettor. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To bettor
World English Dictionary
better or esp (US) bettor2 (ˈbɛtə)
a person who bets
bettor or esp (US) bettor2

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
The beaten bettor then makes the claim, that he can beat the victor to the
  mainland using a crew comprised of baboons.
The average bettor accepts his skinning because he imagines the house odds are
The bettor may elect to view the entire race or only the last few seconds of
  the race.
Instead, many settlors would be bettor served by a simpler and
  under-appreciated estate planning device.
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