Answer: PROPBETS

Prop bets, short for proposition bets, refer to certain side wagers that are commonly made in informal settings, typically related to various aspects of a specific event or activity. These bets are not typically part of the traditional betting options and often involve unique or unusual outcomes. Prop bets can be made on various subjects, such as the outcome of a coin toss in a sports game, the length of a speech at an awards ceremony, or even the color of a celebrity's outfit at a red carpet event.

Note: The provided meaning of the answer is for the latest New York Times crossword puzzle clue: Certain side wagers, informally. Explanations are generated by AI and may be inaccurate.