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Definition of Bet dollars to donuts
1. Verb. (idiomatic) To suggest that something is very likely to be true or that one has a strong hunch about something. Related to the earlier 'bet dollars-to-buttons' and 'bet dollars-to-dumplings' that appeared in the 1880s, meaning 'almost certain' because the dollars are bet against something near worthless, and perhaps zero shaped. ¹
¹ Source: wiktionary.com