In short, no. WagerLab is simply a platform tracking non-monetary bets with your friends and betting for fun against the house.
While all bets carry a user-defined amount, these amounts are unitless and it is not possible to transfer real money through the WagerLab app.
You can bet with virtual coins against the house, these coins have no real-world value.
You and your betting partner can agree to reset your current balance at any time without any requirements (including monetary-ones) aside from your mutual agreement to reset the balance.
Please review our Terms for more information about this.
If you want to bet with the house with coins for fun you can follow this bet with the house guide.