What does "best bet" mean? Is it used commonly?

Native speaker’s answer
Rebecca
"Best bet" means the action, thing, or person that is most likely to succeed and be reliable. It is used commonly! Here, they're saying that the safest you'll be, or the most successful you'll be, with taking a dosage of medicine is by reading the label or going to the doctor. Ex: I'd say your best bet for booking a hotel this weekend is with a BnB. => BnB = bed and breakfast. Ex: He's the best bet that political party has right now.