That looks pretty intriguing. I particularly like raising the stakes. I've done something like it before, but not as a regular part of the game. Do you think it might slow the game down?
Depends on how often your players want to make a bet. I think once everyone has a feel for what constitutes a bet the GM will take I think it'll flow pretty well. Just don't allow too much back and forth. One way or another it'll keep things interesting!