Bet concealing information is bitter (7)
I believe the answer is:
pungent
'is bitter' is the definition.
(I've seen this before)
'bet concealing information' is the wordplay.
'bet' becomes 'punt' (punting is a kind of betting).
'concealing' indicates putting letters inside.
'information' becomes 'gen' (gen can informally mean information).
'punt' going around 'gen' is 'PUNGENT'.
(Other definitions for pungent that I've seen before include "spicy" , "With a fifteen ac smell/taste" , "bitter" , "Penetrating" , "Sharp - caustic" .)