You all are overanalyzing it, the issue is simple. Romney's own church position on gambling is clear:
The Church of Jesus Christ of Latter-day Saints is opposed to gambling, including lotteries sponsored by governments. Church leaders have encouraged Church members to join with others in opposing the legalization and government sponsorship of any form of gambling. Gambling is motivated by a desire to get something for nothing. This desire is spiritually destructive. It leads participants away from the Savior's teachings of love and service and toward the selfishness of the adversary. It undermines the virtues of work and thrift and the desire to give honest effort in all we do.
As if Jewish or Muslim candidate invited his opponent to a pork dinner :P
I don't know if the Mormon position on gambling outlaws making bets. Some definitions of gambling require it to involve a 'game' - others require that the bet is made with the primary intent of winning more money.
For those who don't follow politics, Mitt Romney offered to bet Rick Perry $10,000 that Perry had misquoted Romney. (video)
Most political commenters see the move as a gaffe. They claim the bet made Romney look out of touch, because it reminded voters that Romney is rich enough to afford $10,000.
As a believer in prediction markets, I am disappointed in the public's reaction. Romney made a bold move by making his beliefs pay rent. Critics point out that $10,000 is "chump change" for Romney, but Romney still but himself at risk. If he had lost the bet, Perry could have made a production about cashing a $10,000 check from a disgraced Romney. Besides, if money were the issue, Perry could have countered with a non-monetary bet. "Loser has to attend the next debate in a clown suit" or something.
If politicians had to face real consequences every time they made a false statement, they would have a larger incentive to tell the truth. It's a shame Romney's bet probably won't catch on.
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This post is not an endorsement of Mitt Romney or his politics. All I am endorsing is political betting.