In short, no. WagerLab is simply a platform tracking non-monetary bets with your friends.
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 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.