Based on some earlier posts by the OP, I tend to agree.
Make that 3 of us.
IF this is not fiction, I tend to agree. The wife knows or suspects. To far fetched to think a wife that does not know, or one that is really into feminizing her husband would ever make such a bet. Most women would not want to be seen in public with her man partially dressed feminine. The neighbors or even strangers will caulk at and perhaps laugh and make them uncomfortable.