1. Literally, to lay something as a wager on some bet. I've staked a lot of money on this match—if my guy doesn't win, I don't know what I'm going to do. I only ever stake a few bucks on card games. That way, I'm never too upset if I lose.

2. By extension, to risk losing or damaging something if something else is not successful. He has essentially staked his whole career on this concert—if it isn't a big success, that's pretty much the end of the road for him. We're staking our professional reputations on this deal, you know.