What is a fair bet?

What is a fair bet? Here are some definitions.

Noun
  1. An assumption that is likely to be true.
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Examples
It is fair bet that like millions of Americans you never heard of any of this.
It's a fair bet that the husband was sick as a parrot when he found out he had missed the first half of the season.
It's a fair bet that additional hundreds or even thousands of mistakes go unnoticed and uncorrected every year.
A hat-trick looks a fair bet and backing McCoy's rides in the second, third, fourth and fifth races in combination bets should pay dividends.
Yes, he does look older after two years as a manager and if his head weren't shaved, it's a fair bet that the grey hairs would be prominently camped out across his pate.
It's a fair bet that most people who need spectacles are no longer in the first flush of youth, so could someone please explain why the choice was so universally cool and hip.

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