My review was written in June 1992 after watching the movie on PM video cassette.
"Deadly Bet" presents an interesting variation on the kickboxing genre. Las Vegas-set action drama is an okay video title.
Curiously, the film uses the same premise as the upcoming summer release starring Nicolas Cage, "Honeymoon in Vegas". Hero Jeff Wincott bets his girlfriend Charfene Tilton on a kick-boxing match and loses, so she must go with the victor, charming villain Steven Vincent Leigh.
Pic then follows a familiar "Rocky" storyline, as deep-in-debt Wincott finally gets his act together, giving up drinking and gambling and wins back his reputation and girl. Least convincing element is a big gambler/gangster forcing Wincott to win the big tournament match at all costs. (In the boxing genre one has to throw a fight, not win it in the case of a fix.)
The fight scenes, both in the ring and outside, are well-choreographed by Eric Lee and executed with skill by leads Wincott and Leigh. Supporting cast led by romantic interest Tilton are fine, including former boxing champ Ray Mancini as a minor henchman.