Origin
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The origin of BET ON IT! on the Sueniverse began when Hallie and Kate discussed High School Musical 2 and its best (read: worst) 
Megan actually screencapped this in public. You all owe her.
Impact
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The impact of Hallie and Kate capslocking BET ON IT! constantly is that many other Suethors find themselves seized by the sudden urge to strangle the capslockers.